Vancouver, British Columbia--(Newsfile Corp. - September 4, 2026) - Group Eleven Resources Corp. (TSXV: ZNG) (OTCQB: GRLVF) (FSE: 3GE) ("Group Eleven" or the "Company") is pleased to announce that the Company and its former director, Mr. Alessandro Bitelli, have agreed to settle C$32,250 in outstanding director fees (accrued in 2025 and 2026) owed to him at the time of his retirement from the board of directors at the last annual general meeting through the issuance of 38,393 common shares of the Company at a price of $0.84 per share (the "Debt Settlement").

The Company's board of directors and management believe that completing the Debt Settlement is in the best interests of the Company as it will allow the Company to preserve its cash resources for ongoing and planned operations.

Completion of the Debt Settlement remains subject to the approval of the TSX Venture Exchange. The shares issued as part of the Debt Settlement will be subject to a four-month hold period from the date of issuance in accordance with applicable Canadian securities laws.

About Group Eleven Resources

Group Eleven Resources Corp. (TSXV: ZNG) (OTCQB: GRLVF) (FSE: 3GE) is actively drilling its 100%-owned Ballywire zinc-lead-silver-copper discovery located in the Republic of Ireland. Ballywire is located 20km from Company's 78.62%-owned Stonepark property, which itself is located adjacent to Glencore's Pallas Green project. The Company's two largest shareholders are Michael Gentile (13.6% interest) and Glencore Canada Corp. (12.8%). Additional information about the Company is available at www.groupelevenresources.com.

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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/312943