Mr. Bart Jaworski reports

GROUP ELEVEN ANNOUNCES WARRANT EXTENSION

Subject to the approval of the TSX Venture Exchange, Group Eleven Resources Corp. is seeking to extend the term of certain warrants of the company which would otherwise expire on July 28, 2023.

Warrant repricing and extension

The company intends to extend the expiry date of the 12,916,667 warrants granted on July 28, 2020, with each warrant entitling the holder to purchase one common share of the company, as follows:

Certificate numbers:  WA-2020-07-001 through WA-2020-07-014

Aggregate number of warrants outstanding:  12,916,667

Issue date:  July 28, 2020

Original expiry date:  July 28, 2023

New expiry date:  Oct. 28, 2024

Certain warrants being extended are held by insiders of the company, and the extension of such warrants constitutes, to that extent, a related party transaction within the meaning of TSX-V Policy 5.9 and Multilateral Instrument 61-101 -- Protection of Minority Shareholders. The company has relied on the exemptions from the valuation and minority shareholder approval requirements of MI 61-101 (and Policy 5.9) contained in sections 5.5(b) and 5.7(1)(b) of MI 61-101 in respect of such insider participation.

About Group Eleven Resources Corp.

Group Eleven Resources is a mineral exploration company focused on advanced stage zinc exploration in Ireland. Additional information about the company is available at its website.

We seek Safe Harbor.