Mr. Bart Jaworski reports

GROUP ELEVEN ANNOUNCES UPSIZE OF BOUGHT DEAL PRIVATE PLACEMENT TO C$10.4M

As a result of strong investor demand, Group Eleven Resources Corp. has entered into an agreement with ATB Cormark Capital Markets, as lead underwriter, on behalf of a syndicate of underwriters to increase the size of its previously announced bought deal private placement. The company will now issue 11,595,000 common shares of the company at a price of 90 cents per share for aggregate gross proceeds of $10,435,500.

The company has granted the underwriters an option, exercisable in whole or in part, at any time prior to the closing date, to purchase up to an additional 1,739,250 shares at the issue price for additional gross proceeds of up to approximately $1,565,325.

The company intends to use the net proceeds from the offering will be used to finance exploration drilling at Ballywire and Stonepark, and for working capital and general corporate purposes, as described further in the offering document (as defined below).

The common shares will be offered pursuant to Part 5A of National Instrument 45-106 -- Prospectus Exemptions, as amended by Coordinated Blanket Order 45-935 -- Exemptions from Certain Conditions of the listed issuer financing exemption to purchasers in each of the provinces of Canada. The underwriters will also be entitled to offer the common shares for sale in the United States pursuant to available exemptions from the registration requirements of the United States Securities Act of 1933, as amended, and in certain other jurisdictions outside of Canada and the United States provided it is understood that no prospectus filing or comparable obligation, continuing reporting requirement, or requisite regulatory or governmental approval arises in such other jurisdictions. The common shares issued under the offering to Canadian subscribers will not be subject to a hold period in Canada.

In addition to and concurrent with the offering, the company will be offering on a non-brokered basis, the number of common shares, on the same or substantially same terms as the offering, to its pre-existing shareholder, Glencore Canada Corp., to allow such shareholder to exercise its participation right and maintain its 13.6-per-cent ownership interest in the company. No commission or other fees will be paid to the underwriters in connection with the non-brokered offering.

There is an amended and restated offering document related to the offering that can be accessed under the company's issuer profile at SEDAR+ and the company's website. Prospective investors of shares issued under the listed issuer financing exemption should read the amended offering document before making an investment decision.

The offering is expected to close on or about March 11, 2026, or on such other date as may be agreed to by the company and the underwriters, subject to compliance with applicable securities laws. Notwithstanding the foregoing, the closing must occur no later than the 45th day following the date of this news release.

The completion of the offering is subject to customary conditions, including, but not limited to, the negotiation of an underwriting agreement between the parties with respect to the offering and the receipt of all necessary approvals, inclusive of the conditional acceptance of the TSX Venture Exchange.

Qualified person

Technical information in this news release has been approved by Prof. Garth Earls, EurGeol, PGeo, FSEG, geological consultant at IGS (International Geoscience Services) Ltd., an independent qualified person as defined under National Instrument 43-101 -- Standards of Disclosure for Mineral Projects.

About Group Eleven Resources Corp.

Group Eleven Resources is drilling the most significant mineral discovery in the Republic of Ireland in over a decade. The company announced the Ballywire discovery in September, 2022, demonstrating high grades of zinc, lead, silver, copper, germanium and, locally, antimony. Key intercepts to date include: 10.8 metres of 10.0 per cent Zn (zinc) plus Pb (lead) and 109 g/t (grams per tonne) Ag (silver) (G11-468-03) 10.1 m of 8.6 per cent Zn plus Pb and 46 g/t Ag (G11-468-06), 10.5 m of 14.7 per cent Zn plus Pb, 399 g/t Ag and 0.31 per cent Cu (G11-468-12), 11.2 m of 8.9 per cent Zn plus Pb and 83 g/t Ag (G11-3552-03), 29.6 m of 10.6 per cent Zn plus Pb, 78 g/t Ag and 0.15 per cent Cu (G11-3552-12), and 11.8 m of 11.6 per cent Zn plus Pb, 48 g/t Ag (G11-3552-18), 15.6 m of 11.6 per cent Zn plus Pb, 122 g/t Ag and 0.19 per cent Cu (G11-3552-27), 12.0 m of 1.4 per cent Zn plus Pb, 560 g/t Ag, 2.30 per cent Cu and 0.17 per cent Sb (25-3552-31), including 6.4 m of 2.1 per cent Zn plus Pb, 838 g/t Ag, 3.72 per cent Cu and 0.27 per cent Sb (25-3552-31), 39.7 m of 9.5 per cent Zn plus Pb, 131 g/t Ag and 0.27 per cent Cu (25-3552-35), 25.6 m of 9.2 per cent Zn plus Pb, 28 g/t Ag (25-3552-39), 52.3 m of 10.3 per cent Zn plus Pb, 330 g/t Ag and 0.40 per cent Cu (25-3552-51), including 8.4 m of 18.2 per cent Zn plus Pb, 1,776 g/t Ag, 2.21 per cent Cu and 0.18 per cent Sb (25-3552-51).

Ballywire is located 20 km from company's 77.64-per-cent-owned Stonepark zinc-lead deposit, which itself is located adjacent to Glencore's Pallas Green zinc-lead deposit. The company's two largest shareholders are Michael Gentile (13.8-per-cent interest) and Glencore Canada Corp. (13.6-per-cent interest).

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