Early Warning Report Filed Pursuant to National Instrument 62-103

Montreal, May 11, 2023 - Glen Eagle Resources Inc. (the "Corporation") (TSXV:GER) announces that it has disposed of 436,500 common shares (each, a "Share") of First Phosphate Corp. ("FPC"), and that it has entered into an agreement dated May 10, 2023 to dispose (the "Disposition") of an additional 2,700,000 Shares on or before May 31, 2023.

The Corporation currently owns 5,400,000 Shares, representing approximately 10.45% of the issued and outstanding Shares on a non-diluted basis. On closing of the Disposition, the Corporation will own 2,700,000 Shares, representing approximately 5.23% of the issued and outstanding Shares on a non-diluted basis.

All securities of FPC controlled by the Corporation are held for investment purposes. In the future, it (directly or indirectly), may acquire and/or dispose of securities of FPC through the market, privately or otherwise, as circumstances or market conditions may warrant.

This press release is issued pursuant to the early warning requirements of National Instrument 62-104 - Take-Over Bids and Issuer Bids and National Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting Issues. A copy of the early warning report to be filed by Glen Eagle in connection with the transaction will be available on the FPC's SEDAR profile once it has been filed in accordance with applicable securities laws and may be obtained by contacting:

ABOUT GLEN EAGLE RESOURCES INC.

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

For more information, please contact:

Karl Trudeau
President
1-819-440-8495

Neither 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.

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