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Glen Eagle Resources Inc
Symbol GER
Shares Issued 82,868,108
Close 2019-08-28 C$ 0.10
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Glen Eagle partner produces 975 oz Au in Q3 first half

2019-08-28 09:50 ET - News Release

Mr. Trent D'Ambrosio of Inception reports


Glen Eagle Resources Inc.'s partner, Inception Mining Inc., has released preliminary production results of 975 ounces of gold and 272 ounces of silver for the first 45 days of the third quarter, from July 1, 2019, through Aug. 14, 2019.

Production from the company's Clavo Rico project totalled 2,508 ounces of gold and 960 ounces of silver year to date at the time of this release. The mid-quarter numbers show an increase of 400 per cent over Q3 2018/mid-Q3 2018, and the year-to-date figures reflect growth of 30 per cent over the same time last year/higher than the total production volume from 2018.

The company maintains plans to increase production outlook, with the expanded operations of the Clavo Rico project in Honduras commencing after a 24-month process, and the partnership with Glen Eagle Resources allowing the company to accelerate its production through the toll processing agreement signed in May, 2019.

Trent D'Ambrosio, chief executive officer of Inception Mining, stated: "Inception's 2019 gains are a direct result of our commitment to continually monitor, evaluate and improve our extraction operations, which we have accomplished without losing sight of development and exploration opportunities to sustain our future momentum. We believe our continued production growth and expansion, as illustrated by these mid-quarter numbers, will raise Inception's profile as an efficient, high-margin producer of gold and silver."

Full financial results for Q2 2019 are available in the report on Form 10-Q filed with the Securities and Exchange Commission.

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