ZNG.V · 2025-03-25 12:00:00

Group Eleven Intersects 7.5m of 20.1% Zn+Pb and 51 g/t Ag, incl. 2.2m of 37.5% Zn+Pb and 72 g/t Ag at Ballywire in Step-Out Drilling; Upcoming Drilling at Cu-Ag Target and ‘D’ Gravity Anomaly

Drill Results

Group Eleven Intersects 7.5m of 20.1% Zn+Pb and 51 g/t Ag, incl.

2.2m of 37.5% Zn+Pb and 72 g/t Ag at Ballywire in Step-Out Drilling;

Upcoming Drilling at Cu-Ag Target and ‘D’ Gravity Anomaly

Vancouver, Canada, March 25, 2025 - Group Eleven Resources Corp. (TSX -V: ZNG; OTC BB: GRLVF;

FRA: 3GE) (“ Group Eleven” or the “ Company”) is pleased to announce assay results from four new

holes (and additional assays from a previously announced hole) from the ongoing drill program at the

Company’s 100% -owned Ballywire zinc -lead-silver discovery (“ Ballywire”), PG West Project (“ PG

West”), Republic of Ireland.

Highlights:

• G11-3552-29 intersected (from 189.3m):

o 130.7m of 2.3% Zn+Pb (2.0% Zn and 0.3% Pb) and 13 g/t Ag, including

o 7.5m of 20.1% Zn+Pb (19.1% Zn and 1.0% Pb) and 51 g/t Ag, including

o 5.7m of 24.1% Zn+Pb (23.2% Zn and 1.0% Pb) and 60 g/t Ag, including

o 2.2m of 37.5% Zn+Pb (36.9% Zn and 0.7% Pb) and 72 g/t Ag

o Represents a 55m step-out down-dip from G11-3552-27

• G11-3552-271 intersected (from 201.5m):

o 70.5m of 3.4% Zn+Pb (2.2% Zn and 1.2% Pb) and 41 g/t Ag, including

o 25.7m of 7.9% Zn+Pb (5.7% Zn and 2.2% Pb), 78 g/t Ag and 0.12% Cu and

o 4.2m of 2.0% Zn+Pb (0.4% Zn and 1.6% Pb), 172 g/t Ag and 0.66% Cu, including

o 0.9m of 3.6% Zn+Pb (0.9% Zn and 2.6% Pb), 511 g/t Ag and 2.01% Cu

o Located 50m down-dip from G11-3552-25 (announced 06-Feb-2025)

• G11-3552-29 expands the footprint of the recently announced 360m long, flat-lying zone of zinc-

rich massive sulphide lenses by at least 50m down-dip, to a total of at least 125m down-dip

• Drilling continues at Ballywire with two rigs testing further down -dip of the two holes released

today, plus the NE extension; assay results are expected in due course

• In several weeks, d rilling will also begin testing (a) a Cu-Ag target below the Zn-Pb-Ag discovery

horizon; and (b) a step-out target 1.3km to the ENE of the Ballywire discovery testing in the vicinity

of the prospective ‘D’ gravity-high anomaly, at a locality with abundant calcite similar to the calcite

typically observed immediately above high-grade mineralization along the discovery trend

“We are very pleased to see the NE massive sulphide zone expanded by a ninth consecutive high-

grade hole,” stated Bart Jaworski, CEO. “Additional excellent Ag and Cu values also continue to point

to a stratigraphically deeper Cu-Ag horizon, which we are aiming to start drill testing for the very first

time over the next few weeks . We also look forward to stepping out 1.3km ENE towards a very

prospective area near the ‘D’ gravity high anomaly . This locality hosts abundant calcite bodies,

commonly seen above high -grade mineraliz ation at Ballywire. A nearby historic hole is also

mineralized. With the Cu -Ag target, continued drilling to the NE and larger step outs along our

prospective 6km trend, 2025 promises to be an exciting year of exploration for Group Eleven.”

1 Partial assays from G11-3552-27 previously announced on 06-Feb-25, consisting of 24.8m of 8.1% Zn+Pb, 80

g/t Ag and 0.12% Cu. A further 55m was subsequently assayed and announced today (20.8m above and 34.1m

below the stated 24.8m long interval).

Exhibit 1. Cross-Section Showing New Drilling (G11-3552-27, -29 and -31) at Ballywire Discovery

Note: Partial assays from G11-3552-27 previously announced on 06-Feb-25, consisting of 24.8m of 8.1% Zn+Pb, 80 g/t Ag;

Exhibit 2. Plan Map Showing New Drilling and Interpreted Cu-Ag ‘Feeder’ Structure

Note: Partial assays from G11-3552-27 previously announced on 06-Feb-25, consisting of 24.8m of 8.1% Zn+Pb, 80 g/t Ag;

New Step-Out Holes at Ballywire Discovery

The Ballywire prospect at the Company’s 100% -owned PG West Project in Republic of Ireland, is a

relatively new zinc -lead-silver discovery (first announced Sept -2022). In addition to 44 holes drilled

and reported by Group Eleven to date, the most recent four holes (G11 -3552-24, -26, -28, and -29)

and additional assays for previously announced hole, G11 -3552-27, are reported today (see Exhibits

1 to 7).

High-grade mineralization from G11 -3552-27 and -29 (see Page 1 and Exhibits 1 to 4) consists

predominantly of massive and semi -massive sulphide (sphalerite, galena, pyrite, chalcopyrite and

suspected tennantite-tetrahedrite), as well as, disseminated and vein hosted sulphide mineralization.

Mineralization occurs along and/or close to the base of the Waulsortian Limestone (see Exhibit 1).

Exhibit 3. Summary of Assays from G11-3552-24, -26, -27, -28 and -29 at Ballywire

Item From

(m)

Int

(m)

(%)

Zn+Pb

(%)

(g/t)

(%)

G11-3552-27 201.45 271.94 70.49 2.22 1.20 3.41 40.8 0.09

Incl. 212.07 237.81 25.74 5.69 2.21 7.90 77.8 0.12

Incl. 219.42 235.06 15.64 8.30 3.28 11.59 122.1 0.19

Incl. 218.47 222.21 3.74 12.18 3.05 15.23 75.3 -

And 228.51 235.06 6.55 11.06 5.65 16.71 240.0 0.42

Incl. 230.36 233.90 3.54 13.26 8.01 21.27 395.1 0.73

And 267.72 271.94 4.22 0.40 1.58 1.97 171.6 0.66

Incl. 268.64 269.49 0.85 0.93 2.62 3.55 511.0 2.01

G11-3552-29 189.33 320.05 130.72 1.99 0.26 2.25 13.0 -

Incl. 224.27 229.61 5.34 4.10 0.79 4.88 12.5 -

And 259.03 266.56 7.53 19.08 1.01 20.09 51.3 -

Incl. 259.03 264.74 5.71 23.16 0.95 24.11 60.0 -

Incl. 259.03 261.25 2.22 36.86 0.68 37.54 71.7 -

And 307.91 320.05 12.14 0.23 0.04 0.27 66.2 0.12

Incl. 315.26 320.05 4.79 0.38 0.05 0.42 149.4 0.27

Incl. 318.00 320.05 2.05 0.09 0.04 0.12 301.0 0.52

G11-3552-24 186.26 199.20 12.94 0.15 0.04 0.19 2.1 -

Incl. 193.76 197.31 3.55 0.30 0.10 0.40 4.8 -

And 235.85 236.76 0.91 0.01 0.01 0.01 36.1 0.35

G11-3552-26 215.80 216.36 0.56 0.83 0.79 1.62 71.5 -

Incl. 215.80 215.97 0.17 2.52 2.25 4.77 190.0 -

G11-3552-28 157.95 174.81 16.86 0.02 0.58 0.59 3.1 -

Incl. 166.42 169.28 2.86 0.05 1.26 1.31 9.0 -

And 172.99 174.81 1.82 0.07 2.12 2.19 6.8 -

And 179.67 181.49 1.82 0.03 0.17 0.20 64.1 0.16

And 218.66 220.50 1.84 0.00 0.00 0.01 2.7 0.26

Note: True width of the intervals above as a percentage of the intersected interval is 90% (G11-3552-27), 80-90% (G11-3552-

29), 90-100% (G11-3552-24), 80-90% (G11-3552-26) and 90-100% (G11-3552-28)

Holes drilled as 300m step-outs to the NE (G11-3552-24, -26 and -28; see Exhibit 2) returned zones of

mineralization narrower and weaker than those at the main discovery trend (see Exhibit 3 ).

Disseminated copper mineralization , as well as, mineralized veins and fractures , however, are

strengthening towards the north, suggesting massive sulphide mineralization may be present further

north (see northern-most projected mineralized trend in Exhibit 4). A second mineralized trend is also

emerging to the south where the interpreted Cu-Ag rich ‘feeder’ fault pierced by drilled along the main

discovery trend (see solid purple line in Exhibits 2 and 4) appears to correlate with mineralization

intersected in G11-3552-08 (see Exhibit 2). More drilling is ongoing in the NE area to test the above

targets.

Key 2025 Exploration Targets at Ballywire Discovery

Copper-Silver Target

As drilling progresses at Ballywire, it is increasingly evident that there exists an interpreted Cu -Ag

‘feeder’ fault parallel to and spatially associated with the main Zn -Pb-Ag discovery at Ballywire (see

Exhibit 2). This ‘feeder’ fault hosts mineralization with up to 5.90% Cu and 1,440 g/t Ag, interpreted

to have been transported by mineralizing fluids from below by vertical to steeply -dipping structures

(see Exhibit 5). Today’s results provide further evidence, with grades up to 2.01% Cu and 511 g/t Ag

(see Exhibit 3). Meanwhile, the stratigraphy of the region suggests that approximately 100 -200m

below the discovery horizon (base of the Waulsortian Limestone), is the Lower Limestone Shale

horizon, which hosts four well known Cu-Ag historic occurrences in the surrounding area (see Denison,

Oola, Gortdrum and Tullacondra in Exhibit 8, located approx. 5km, 9km, 10km and 45km away from

Ballywire, respectively).

These historic Cu -Ag occurrences can be interpreted as the eroded remnants of originally more

vertically extensive mineralizing systems, likely representing the roots of stratigraphically higher Zn -

Pb-Ag mineralization. At Ballywire, there is a chance the mineralizing system is much larger than at

the neighbouring deposits (based on relatively large footprint to date ), and if it is there, any Cu -Ag

mineralization would notionally be intact below the existing Zn-Pb-Ag mineralization.

Given the compelling nature of the above exploration model, Group Eleven aims to begin drilling this

deeper Cu-Ag target over the coming several weeks.

Exhibit 4. Plan Map Showing Interpreted Cu-Ag ‘Feeder’ and Calcite Body Targets at Ballywire

Note: Calcite bodies occurring at the discovery trend are not shown here (shown in Exhibit 6 instead)

Exhibit 5. Cross-Section Showing Hypothesized Location of Cu-Ag Mineralization

Calcite Body Vectors

As drilling progresses at Ballywire, it is increasingly evident that high-grade Zn-Pb-Ag mineralization at

Ballywire is spatially associated with steeply dipping bodies of calcite (see Exhibit 6), interpreted to

represent the ‘exhaust’ from the mineralization process below (i.e. dissolved limestone at the

mineralized horizon is re-precipitated as calcite bodies immediately above). These calcite bodies may

prove to be a strong exploration vector along the undrilled remainder of Ballywire’s prospective 6km

trend.

Two shallow historic holes, located 1.3km ENE from the current boundary of the Ballywire discovery,

intercepted such calcite bodies (see Exhibits 4 and 7), yet were never followed up. This locality is also

near the prospective ‘D’ gravity high anomaly and historic hole, 99 -3352-05 (see Exhibit 7), which

intersected mineralization of a tenor typically seen peripheral to massive sulphide zones at the

discovery trend. Group Eleven aim to test this locality in the coming weeks.

Separately, two historic holes approx. 300m and 600m to the WSW, respectively, from the current

boundary of the Ballywire discovery, also intercepted abundant calcite zones (see Exhibits 4 and 7)

and were never followed up. Group Eleven aims to test these locations in due course.

Looking forward, six (6) drill holes (G11 -3552-30 to -35; see Exhibit 2) are in progress with results

expected in due course. Exhibit 2 shows drilling to date across 1.25km of the overall 2.6km long trend

(see Exhibit 4) of significantly mineralized drill intercepts. This in turn is hosted within a 6km long

prospective trend defined by four gravity high anomalies, only one of which (anomaly ‘C’) is

systematically drilled to date (see Exhibit 7).

Exhibit 6. Oblique 3D View of Calcite Bodies Spatially Associated with Mineralization at Ballywire

Note: Bodies shown (calcite, Zn-Pb-Ag and Cu-Ag) are not constrained by any grade cut-off and are only meant for illustrative

purposes

Exhibit 7. Regional Gravity at Ballywire Showing 6km Long Prospective Trend and Calcite Bodies

Notes to Exhibit 8: (a) Pallas Green MRE is owned by Glencore (see Glencore’s Resources and Reserves

Report dated December 31, 2023); (b) Stonepark MRE: see the ‘NI 43-101 Independent Report on the

Zinc-Lead Exploration Project at Stonepark, County Limerick, Ireland’, by Gordon, Kelly and van Lente,

with an effective date of April 26, 2018, as found on SEDAR; and (c) the historic estimate at Denison

was reported by Westland Exploration Limited in ‘Report on Prospecting Licence 464’ by Dermot

Hughes dated May, 1988; the historic estimate at Gortdrum was reported in ‘The Geology and Genesis

of the Gortdrum Cu -Ag-Hg Orebody’ by G.M. Steed dated 1986; and the historic estimate at

Tullacondra was first reported by Munster Base Metals Ltd in ‘Report on Mallow Property’ by David

Wilbur, dated December 1973; and later summarized in ‘Cu-Ag Mineralization at Tullacondra, Mallow,

Co. Cork’ by Wilbur and Carter in 1986; the above three historic estimates have not been verified as

current mineral resources; none of the key assumptions, parameters and methods used to prepare

the historic estimates were reported and no resource categories were used; significant data

compilation, re-drilling and data verification may be required by a Qualified Person before the historic

estimates can be verified and upgraded to be compliant with current NI 43-101 standards; a Qualified

Person has not done sufficient work to classify them as a current mineral resource and the Company

is not treating the historic estimates as current mineral resources. ‘Rathdowney Trend’ is the south -

westerly projection of the Rathdowney Trend, hosting the historic Lisheen and Galmoy mines.

Exhibit 8. Regional Map of Ballywire Discovery and Surrounding Cu-Ag Historic Occurrences

Qualified Person

Technical information in this news release has been approved by Professor Garth Earls , Eur Geol,

P.Geo, FSEG , geological consultant at IGS (International Geoscience Services) Limited , and

independent ‘Qualified Person’ as defined under Canadian National Instrument 43-101.

Sampling and Analytical Procedures

All core drilled at Ballywire is NQ (47.6mm) and is cut using a rock saw. Sample intervals vary between

0.42m to 1.3m with the majority of samples in the 0.79m to 0.99m range. The half-core samples are

bagged, labelled and sealed at Group Elevens core store facility in Limerick, Ireland. Selected sample

bags are examined by the Qualified Person. Transport is via an accredited courier service and/or by

Group Eleven staff to ALS Laboratories in Loughrea Co. Galway, Ireland. Sample preparation at the ALS

facility comprises fine crushing 70% < 2mm, riffle splitter, pulverise up to 250g 85% < 75um. Analytical

procedures are 34 element four acid ICP-AES (codes ME-ICP61 and ME-OG62). Other than paying for

a professional analytical service, Group Eleven has no relationship with ALS.

Quality Assurance/Quality Control (QA/QC) Information

Group Eleven inserts certified reference materials (“CRMs” or “Standards”) as well as blank material,

to its sample stream as part of its industry -standard QA/QC programme. T he QC results have been

reviewed by the Qualified Person, who is satisfied that all the results are within acceptable

parameters. The Qualified Person has validated the sampling and chain of custody protocols used by

Group Eleven.

About Group Eleven Resources

Group Eleven Resources Corp. (TSX.V: ZNG; OTCBB: GRLVF and FRA: 3GE) is a mineral exploration

company focused on advanced stage zinc exploration in the Republic of Ireland. Group Eleven

announced the Ballywire discovery in September 2022. Key intercepts to date include:

• 10.8m of 10.0% Zn+Pb and 109 g/t Ag (G11-468-03)

• 10.1m of 8.6% Zn+Pb and 46 g/t Ag (G11-468-06)

• 10.5m of 14.7% Zn+Pb, 399 g/t Ag and 0.31% Cu (G11-468-12)

• 11.2m of 8.9% Zn+Pb and 83 g/t Ag (G11-3552-03)

• 29.6m of 10.6% Zn+Pb, 78 g/t Ag and 0.15% Cu (G11-3552-12) and

• 11.8m of 11.6% Zn+Pb, 48 g/t Ag (G11-3552-18)

• 15.6m of 11.6% Zn+Pb, 122 g/t Ag and 0.19% Cu (G11-3552-27)

Ballywire is located 20km from Company’s 77.64%-owned Stonepark zinc-lead deposit2, which itself is

located adjacent to Glencore’s Pallas Green zinc -lead deposit 3. The Company’s two largest

shareholders are Glencore Canada Corp. ( 16.1% interest) and Michael Gentile ( 16.0%). 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

E: [email protected] | T: +353-85-833-2463

E: [email protected] | T: 604-644-9514

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.

Cautionary Note Regarding Forward-Looking Information

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

2 Stonepark MRE is 5.1 million tonnes of 11.3% Zn+Pb (8.7% Zn and 2.6% Pb), Inferred (Apr -17-2018)

3 Pallas Green MRE is 45.4 million tonnes of 8.4% Zn+Pb (7.2% Zn + 1.2% Pb), Inferred (Glencore, Dec -31-2023)

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