Glen Eagle Resources updates Cobra Oro transaction

Montreal, Quebec--(Newsfile Corp. - October 5, 2026) - GLEN EAGLE RESOURCES INC. (TSXV: GER) (" Glen Eagle " or the " Company ") announces that further to the Company's press release dated August 25, 2026, regarding the entry into a share purchase agreement with Canaan Minerals S. De R.L. (the " Purchaser ") and the Company, whereby the Purchaser will acquire all the issued and outstanding shares of Cobra Oro Honduras S.A. (the " Transaction "), the Company has received conditional approval from the TSX Venture Exchange (the " TSXV ") with respect to the Transaction.

Completion and final acceptance of the Transaction is subject to the fulfillment of certain conditions, including receipt of the cash payments by Glen Eagle and shareholder approval for the Transaction at the upcoming annual general and special meeting of shareholders of the Company taking place on November 4, 2026.

About Glen Eagle

Glen Eagle Resources Inc. is a small producer and an exploration company of precious metals in Canada and Central America.

Karl Trudeau, President 1000 Sherbrooke West #2700 Montreal, Quebec Tel: 819-440-8495 Email: karltrudeau9@gmail.com

Forward-Looking Information

Certain of the statements and information in this news release constitute "forward-looking statements" or "forward-looking information". Any statements or information that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "expects", "anticipates", "believes", "plans", "estimates", "intends", "targets", "goals", "forecasts", "objectives", "potential" or variations thereof or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved, or the negative of any of these terms and similar expressions) that are not statements of historical fact may be forward-looking statements or information. Forward-looking statements or information relate to, among other things: (i) receipt of all necessary approvals for the Transaction, including shareholder and final TSXV acceptance; (ii) receipt of the cash payments from the Purchaser; and (iii) completion of the Transaction.

Forward-looking statements or information are subject to a variety of known and unknown risks, uncertainties and other factors that could cause actual events or results to differ from those reflected in the forward-looking statements or information, including, without limitation, risks associated with the completion of the Transaction pursuant to the terms agreed upon, regulatory risks regarding the approval of the transactions contemplated therein, risks relating to receipt of all necessary approvals of the Transaction, the risk that shareholder approval may not be obtained, the risk that the TSXV may not grant final acceptance of the Transaction or that conditions to such acceptance may not be satisfied, the risk that the Purchaser may not make the required cash payments, and general market and economic risks. There can be no assurance that the Transaction will be completed on the terms described herein, or at all. This list is not exhaustive of the factors that may affect any of the Company's forward-looking statements or information. Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated, described or intended. Accordingly, readers should not place undue reliance on forward-looking statements or information.

The forward-looking statements and information contained herein are based on certain key assumptions, including, without limitation, that the parties will be able to satisfy all conditions to closing of the Transaction, that all necessary regulatory and corporate approvals, including shareholder approval and final acceptance of the TSXV, will be obtained in a timely manner, and that the Purchaser will make the required cash payments in accordance with the terms of the Transaction. The Company's forward-looking statements and information are further based on the assumptions, beliefs, expectations and opinions of management as of the date of this news release, and other than as required by applicable securities laws, the Company does not assume any obligation to update forward-looking statements and information if circumstances or management's assumptions, beliefs, expectations or opinions should change, or changes in any other events affecting such statements or information.

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/317461

TMX Newsfile

October 5, 2026 - 11:47 AM PDT

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