Group Eleven Provides Results of Annual General Meeting

VANCOUVER, BC, July 20, 2022 /CNW/ - Group Eleven Resources Corp. (TSXV: ZNG) (OTC: GRLVF) (FRA: 3GE) ("Group Eleven" or the "Company") is pleased to announce that all resolutions were passed by the requisite majority at its annual general meeting held in Vancouver, British Columbia on July 19, 2022.

A total of 869,638,065 common shares were represented at the AGM, representing 43.991% of the votes attached to all outstanding common shares as at the record date. All of the matters submitted to the shareholders for approval as set out in the Company's notice of meeting and information circular (the "Circular") dated May 31, 2022, were approved by the requisite majority of votes cast at the AGM.

The Company is pleased to announce that its proposal to adopt a new rolling 10% stock option plan (the "New Option Plan") as a result of certain amendments made to TSXV Policy 4.4 ? Security Based Compensation ("Policy 4.4") which came into effect on November 24, 2021, was approved by way of specific separate resolutions at the Meeting. The New Option Plan replaces and supersedes the Company's previous 10% rolling stock option plan.  For more information on the changes to Policy 4.4, please see the TSXV Bulletin re Policy 4.4 ? Security Based Compensation (November 24, 2021).   The New Option Plan is subject to the approval of the TSXV.

Following the annual general meeting, the board of directors re-appointed Bart Jaworski as CEO, Jeannine Webb as CFO, David Furlong as COO, Daniel MacInnis as Chairman (independent) and Sheryl Dhillon as Corporate Secretary. Group Eleven would like to sincerely thank the Company's shareholders for their continued strong support. 

Group Eleven Resources Corp. (TSX.V: ZNG; OTC: GRLVF and FRA: 3GE) is a mineral exploration company focused on advanced stage zinc exploration in Ireland. Additional information about the Company is available at www.groupelevenresources.com.

ON BEHALF OF THE BOARD OF DIRECTORS

Bart Jaworski, P.Geo.
Chief Executive Officer

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.

This press release contains forward-looking statements within the meaning of applicable securities legislation. Such statements include, without limitation, statements regarding the future results of operations, performance and achievements of the Company, including the timing, content, cost and results of proposed work programs, the discovery and delineation of mineral deposits/resources/ reserves and geological interpretations. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions, or are those, which, by their nature, refer to future events. The Company cautions investors that any forward-looking statements by the Company are not guarantees of future results or performance, and that actual results may differ materially from those in forward looking statements as a result of various factors, including, but not limited to, variations in the nature, quality and quantity of any mineral deposits that may be located. All of the Company's public disclosure filings may be accessed via www.sedar.com and readers are urged to review these materials, including the technical reports filed with respect to the Company's mineral properties.

SOURCE Group Eleven Resources Corp.