Mr. Karl Trudeau reports

GLEN EAGLE RESOURCES INC. ANNOUNCES ENTRY TO DEFINITIVE AGREEMENT REGARDING SALE OF ITS COBRA ORO ENTITY

Glen Eagle Resources Inc. has entered into a share purchase agreement with Canaan Minerals S De RL (the purchaser), dated Aug. 24, 2026, whereby the purchaser will acquire all the issued and outstanding shares of Cobra Oro Honduras SA, the company's wholly owned Honduran subsidiary, in consideration for a total purchase price of $2.85-million (U.S.), which shall be payable through a one-time cash payment upon closing. The purchaser will also settle certain outstanding obligations of Cobra Oro up to $600,000 (U.S.) by no later than Oct. 30, 2026.

As of closing of the transaction, the amount of $300,000 (U.S.) will be retained in a separate escrow account representing a security for any claims arising under the share purchase agreement and associated with Cobra Oro that may arise on a postclosing basis. The holdback amount shall be held in escrow for a period of 12 months from the date of closing.

The current management of the company and Cobra Oro shall continue to manage and operate the assets of Cobra Oro pending completion of the transaction. Subject to fulfilment of all conditions and receipt of necessary approvals, the transaction is expected to close during fourth quarter 2026.

In connection with the transaction, the company will pay a finder's fee to an arm's-length finder equal to 3.5 per cent of total gross proceeds actually received by the company from the purchaser pursuant to the transaction.

The purchaser is not a non-arm's-length (as such term is defined in accordance with the policies of the TSX Venture Exchange) party to the company. The transaction is subject to certain conditions, including, but not limited to, receipt of the cash payments by the company from the purchaser, receipt of all regulatory and corporate approvals, including that of the TSX-V under Policy 5.3 (Acquisitions and Dispositions of Non-Cash Assets), and the continued compliance of Cobra Oro with the applicable Honduran regulatory regime.

About Glen Eagle Resources Inc.

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

We seek Safe Harbor.