Group Eleven arranges $9-million private placement

Mr. Bart Jaworski reports GROUP ELEVEN ANNOUNCES C$9M BOUGHT DEAL PRIVATE PLACEMENT Group Eleven Resources Corp. has entered into an agreement with ATB Cormark Capital Markets, as lead underwriter, on behalf of a syndicate of underwriters, in connection with a bought deal private placement for aggregate gross proceeds of $9-million. The offering will consist of the issuance and sale of 10 million common shares of the company at a price of 90 cents per common share. The company has granted the underwriters an option, exercisable in whole or in part, at any time prior to closing of the offering, to sell up to an additional 1.5-million common shares at the issue price for additional gross proceeds of up to $1.35-million. 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 (other than the province of Quebec). 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 U.S. 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 offering document related to the offering that can be accessed under the company's profile on SEDAR+ and the company's website. Prospective investors of common shares should read the 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 company will pay a fee equal to 6.0 per cent of the aggregate gross proceeds of the offering. The cash commission payable to the underwriters will be reduced to 2.0 per cent with respect to certain purchasers identified on the company's president list. 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+Pb (zinc plus lead) and 109 grams per tonne Ag (G11-468-03); 10.1 m of 8.6 per cent Zn+Pb and 46 g/t Ag (G11-468-06); 10.5 m of 14.7 per cent Zn+Pb, 399 g/t Ag and 0.31 per cent Cu (G11-468-12); 11.2 m of 8.9 per cent Zn+Pb and 83 g/t Ag (G11-3552-03); 29.6 m of 10.6 per cent Zn+Pb, 78 g/t Ag and 0.15 per cent Cu (G11-3552-12); And 11.8 m of 11.6 per cent Zn+Pb, 48 g/t Ag (G11-3552-18); 15.6 m of 11.6 per cent Zn+Pb, 122 g/t Ag and 0.19 per cent Cu (G11-3552-27); 12.0 m of 1.4 per cent Zn+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+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+Pb, 131 g/t Ag and 0.27 per cent Cu (25-3552-35); 25.6 m of 9.2 per cent Zn+Pb and 28 g/t Ag (25-3552-39); 52.3 m of 10.3 per cent Zn+Pb, 330 g/t Ag and 0.40 per cent Cu (25-3552-51); Including 8.4 m of 18.2 per cent Zn+Pb, 1,776 g/t Ag, 2.21 per cent Cu and 0.18 per cent Sb (25-3552-51). Ballywire is located 20 kilometres from the 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) and Glencore Canada Corp. (13.6-per-cent interest). We seek Safe Harbor.