Fireweed Zinc Acquires the Gayna River Zinc Project by Staking

Fireweed Zinc Acquires the Gayna River Zinc Project by Staking

Fireweed Zinc LTD. ("Fireweed" or the "Company") (TSXV: FWZ; OTCQB: FWEDF) is pleased to announce the acquisition of the Gayna River Zinc project located in Northwest Territories, Canada. The Gayna River project contains the Critical Metals Zinc, Gallium, and Germanium in addition to Lead and Silver.

Highlights

  • Fireweed has acquired the Gayna River project at a very low-cost by staking 128.75 sq-km of mineral claims in NWT.
  • 28,000 m of historic drilling by Rio Tinto outlined impressive large-tonnage exploration targets.
  • The geological environment has globally unique similarities to the very-high grade Kipushi mine.
  • Recent academic studies indicate potential for very-high grade massive sulphide targets which were not recognized by previous owners.

Executive Statements
Fireweed CEO Brandon Macdonald commented, "The acquisition of the Gayna River project by staking is a low-cost way for Fireweed to expand our portfolio of Critical Metals projects and add some exciting exploration potential. While our focus remains on our flagship Macmillan Pass project, we are keen to explore Gayna River where we see the potential for high-grade massive sulphide mineralization. I see a similar story unfolding at Gayna River as MacPass, where Fireweed can build upon historic exploration and use modern scientific understanding of deposit genesis to unlock a potentially world-class district."

Fireweed Chief Geologist Dr. Jack Milton added, "We are excited to put the exploration methods we have honed so successfully at Macmillan Pass to use in a whole new search space at Gayna River. Leveraging our experience with gravity surveys, muon-tomography, and cutting-edge inversions, we can enable exploration for what has been previously difficult to find – the high-grade centers of large zinc systems. With this new technology we expect to target high-grade massive sulphides with better precision and at relatively low-cost, enabling a new wave of zinc exploration and revitalizing activity at this well-renowned zinc district."

Upcoming Webinar
Tune in May 10th at 10 AM PST for Fireweed Zinc's live webinar as CEO Brandon Macdonald revisits the company's success since the start and details of what have been achieved through the years and where they are now. Fireweed's Chief Geologist, Dr. Jack Milton, outlines the company's 2021 successes, shares how Fireweed plans to build on them in 2022–2023, and provides exciting details about the exploration potential at Gayna River. The webinar registration is available at this URL:
https://6ix.com/event/revisiting-exploration-success-at-macmillan-pass-and-looking-to-the-future/

A recording of the webinar will be made available at the same URL within a week.

Gayna River Project Location and History
The Gayna River Project is located in the Mackenzie Mountains, Northwest Territories, (see Map 1) within the Gwich'in Settlement Area, the Sahtu Settlement Area, and the asserted territory of the First Nation of Na-Cho Nyäk Dun. The project is in Canada, approximately 180 km West of Norman Wells, NWT, 180 km north of the Macmillan Pass project, Yukon, and 150 km SW of the winter road between Fort Good Hope and Norman Wells, NWT. Abundant zinc-lead-silver mineralization was discovered at Gayna River in the 1970s and Rio Tinto drilled over 28,000 m in the late 1970s resulting in a large tonnage exploration target.

Rio Tinto allowed the claims to lapse believing there was low potential for a high-grade deposit at Gayna River. A recent shift in thinking behind the geological model for Gayna River shows potential for high-grade massive sulphide zones within areas that were not tested by Rio Tinto. Fireweed has acquired 100% of the Gayna River project at very-low cost by staking an area of 12,875 hectares (128.75 square kilometers) covering all the historic showings and anomalies.

Gayna River Geology and Exploration Potential
Mineralization at Gayna River occurs in veins and breccias in carbonate rocks similar to Mississippi-Valley-Type (MVT) mineralization, or Irish-type Zn-Pb mineralization. Sphalerite and minor galena occur as infill within veins, vugs, and breccias along with dolomite-calcite-quartz-pyrite. Historic grab samples contain elevated concentrations of the critical metals gallium (up to 68 ppm) and germanium (up to 15.6 ppm).

The geological environment of Gayna River is very similar to host-rocks at the high-grade Kipushi Zn-Cu-Pb-Ag-Ge mine in southern Africa. At both locations, zinc mineralization is located around large Neoproterozoic carbonate reefs – geology that is unique to only these two locations worldwide. At Kipushi, high-grade lenses of massive sulphides are located around the margins and tops of the carbonate reefs including the "Big Zinc" zone. Using Kipushi as an exploration analogue, Fireweed sees the potential for massive sulphide mineralization at Gayna River in similar reef-margin and reef-top positions that remain largely untested by historic drilling which was done on a wide-spaced grid drilling approach. The extensive zinc mineralization discovered to date on the Gayna River project is thought to represent a large zinc system that may have higher-grade centers of massive sulphide.

Fireweed cautions that although a geological comparison to the Kipushi mine has been made, the comparison is conceptual in nature, and it is uncertain if further exploration at Gayna River will result in the definition of Mineral Resources or Mineral Reserves.

Historic approaches to exploration at Gayna River relied on grid-drilling due to the typically irregular shapes of mineralized zones, sharp contacts, lack of obvious alteration, and no reliable geophysical response to the mineralization. Fireweed anticipates that modern gravity surveys and the deployment of borehole muon detectors around the favourable geological environment of the reef-tops and margins may enable the detection of density anomalies related to massive sulphide zones. This emerging muon technology has opened a search space to explore for targets that were not previously detectable by any efficient means.

Gayna River Historical Drilling and Historical Estimates
Over 28,000 metres of historic drilling at Gayna River produced historic estimates outlining the potential for large near-surface tonnages of medium zinc+lead grades over 28.5 square kilometers, demonstrating the large size potential of the hydrothermal system at Gayna River. The historic drilling intersected many zinc-rich intervals, such as 21.3 m of 8.14% zinc (hole RT-75-07), and 12.2 m of 6.65% zinc including 6.1 m of 11.25% zinc (hole RT-76-A20).

By the end of 1977, a total of 25,159 m of diamond drilling had been completed at Gayna River and formed the basis of two historical estimates. Publicly available assessment reports 1-3 , a published paper 4 , and an M.Sc. thesis 5 describe a 1977 estimate made by Rio Tinto within "Gayna River Project Report – 1977, for Rio Tinto Canadian Exploration Ltd." by R.S. Hewton (1978) of several individual areas that combine for a total of 2,436,798 tonnes of 4.58% zinc and 0.52% Pb in what was originally termed a "reserve" but does not meet the definition of a Mineral Reserve as defined in current CIM Definition Standards on Mineral Resources and Mineral Reserves. According to current standards this estimate more closely resembles an Inferred Resource; however Fireweed emphasizes that a Qualified Person has not done the necessary validation work to classify this estimate as current Mineral Resources or Mineral Reserves. It is uncertain whether the validation work or further exploration would result in the verification of this estimate as a Mineral Resource or Mineral Reserve, and Fireweed is not treating the historical estimate as current Mineral Resources or Mineral Reserves. The following assumptions were made during the calculation of this historical estimate: 1) a 2% combined Zn+Pb cutoff grade was used with a minimum width of 2.5 m (8'), 2) Values of less than 0.05% Pb were reduced to 0% Pb, 3) no allowance was made for factors that may reduce grade such as dilution or recovery, 4) the area of influence for each hole was considered as half-way to any hole containing more than 1% Zn+Pb over 2.5 m (8'), and 15 m (50') towards lower grade holes, or in directions without drillholes, 5) thickness over the area of influence was assumed to be equal to the width of an intersection where grade exceeds 2% Zn+Pb, 6) a tonnage factor of 10.5 cubic feet per ton was used (3.05 tonne/m 3 ), 7) For each area estimated, holes above 40 feet x % (Zn+Pb) over a minimum of 8' at a 2% cutoff, or holes above 60 feet% Zn+Pb regardless of grade were considered for the estimate, along with all intervening holes, regardless of grade, 8) mineralization in adjacent holes was correlated and included in the calculations only if in a roughly equivalent stratigraphic position. Work needed to upgrade or verify the historical estimates as current mineral resources includes but is not limited to: check assay validation of historical assay values; validation of drilling data; validation of geological modeling; field validation of drill collar coordinates; inspection of drill core; a geological site visit by a Qualified Person; and re-estimation using modern best practices.

The second historical estimate was more conceptual in nature and more closely resembles an Exploration Target as defined by NI-43-101 but was not originally represented as a range of tonnage and grade. Publicly available assessment reports 1-3 , a published paper 4 , and an M.Sc. thesis 5 describe a 1977 estimate made by Rio Tinto within "Gayna River Project Report – 1977, for Rio Tinto Canadian Exploration Ltd." by R.S. Hewton (1978) of potential for an Exploration Target of approximately 51 million tonnes of 5% combined zinc and lead. This estimate may be more conservatively represented as an Exploration Target of 30 to 50 Mt of 4.0 to 4.5% zinc and 0.0 to 0.5% lead. This potential quantity and grade are conceptual in nature. There has been insufficient exploration to define a Mineral Resource and it is uncertain if further exploration will result in the target being delineated as a Mineral Resource. Fireweed has not performed the work necessary to validate the historic Exploration Target and Fireweed is not treating the historical estimate as current Mineral Resources or current Mineral Reserves. The historic disclosed potential quantity was determined on the basis of the results from grid drilling 2000' centres over an area of 28.5 square kilometres, and focused grid drilling around the best holes at 200' centres – both grid drill programs resulted in approximately 13% of drillholes with intersections better than 40 feet x % with a 2% (Zn+Pb) cut-off grade and minimum width of 2.5 m (8'). Using the average thickness of mineralization of 4.54 m (14.9') and the average grade of 4.58% zinc and 0.52% lead it was then estimated that a thickness of 4.54 m of 5% combined zinc and lead was present throughout 13% of the 28.5 square kilometres drilled in order to define the potential quantity and grade of the Exploration Target. The estimate gave no consideration to potential continuity or amenability to mining.

Fireweed considers the historical estimates relevant as they demonstrate the large size potential of the hydrothermal system present at Gayna River and followed accepted practice at the time but does not consider the estimates to be reliable determinations of potential tonnage as the estimation methodology does not conform to the modern Canadian Institute of Mining, Metallurgy and Petroleum (CIM) Estimation of Mineral Resources and Mineral Reserves Best Practice Guidelines.

Qualified Person Statement
Technical information in this news release has been approved by Jack Milton, P.Geo., Ph.D., Chief Geologist and a ‘Qualified Person' as defined under Canadian National Instrument 43-101.

About Fireweed Zinc Ltd. (TSXV: FWZ;   OTCQB: FWEDF   ): Fireweed Zinc is a public mineral exploration company managed by a highly experienced team of mining industry professionals. The Company is advancing its 100% owned, district-scale 940 km 2 Macmillan Pass Project in Yukon, Canada, which is host to the Tom and Jason zinc-lead-silver deposits with current Mineral Resources and a PEA economic study (see Fireweed news releases dated 10 th January 2018, and 23 rd May 2018, respectively, and reports filed on www.sedar.com for details) as well as the Boundary Zone, Boundary Zone West, Tom North Zone and End Zone which have significant zinc-lead-silver mineralization drilled but not yet classified as mineral resources. The project also includes large blocks of adjacent claims (MAC, MC, MP, Jerry, BR, NS, Oro, Sol, Ben, and Stump) which cover exploration targets in the district where previous and recent work identified zinc, lead and silver prospects, and geophysical and geochemical anomalies in prospective host geology.

In Canada, Fireweed (TSXV: FWZ) trades on the TSX Venture Exchange. In the USA, Fireweed (OTCQB: FWEDF) trades on the OTCQB Venture Market for early stage and developing U.S. and international companies. Companies are current in their reporting and undergo an annual verification and management certification process. Investors can find Real-Time quotes and market information for the Company on www.otcmarkets.com . In Europe, Fireweed (FSE: 20F) trades on the Frankfurt Stock Exchange .

Additional information about Fireweed Zinc and its Macmillan Pass Project including maps and drill sections can be found on the Company's website at www.FireweedZinc.com and at www.sedar.com .

ON BEHALF OF Fireweed Zinc LTD.

" Brandon Macdonald "

CEO & Director

Neither the 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 Statements
This news release may contain "forward-looking" statements and information relating to the Company and the Macmillan Pass and Gayna River Projects that are based on the beliefs of Company management, as well as assumptions made by and information currently available to Company management. Such statements reflect the current risks, uncertainties and assumptions related to certain factors including but not limited to, without limitations, exploration and development risks, expenditure and financing requirements, general economic conditions, changes in financial markets, the ability to properly and efficiently staff the Company's operations, the sufficiency of working capital and funding for continued operations, title matters, First Nations relations, operating hazards, political and economic factors, competitive factors, metal prices, relationships with vendors and strategic partners, governmental regulations and oversight, permitting, seasonality and weather, technological change, industry practices, and one-time events. Additional risks are set out in the Company's prospectus dated May 9, 2017, and filed under the Company's profile on SEDAR at www.sedar.com . Should any one or more risks or uncertainties materialize or change, or should any underlying assumptions prove incorrect, actual results and forward-looking statements may vary materially from those described herein. The Company does not undertake to update forward‐looking statements or forward‐looking information, except as required by law.

The historic drilling and rock assay data referred to in this news release have not been independently validated but are considered broadly reliable as the data are derived from publicly available assessment reports authored by Professional Engineers or Professional Geologists.

References
1 2001, Downie, C.C., Geological Report for the Gayna River Property. NWT Assessment Report 084410.
2 2004, Sharp, R.J., Geological Report for the Gayna River Property. NWT Assessment Report 084713.
3 2008, Wallace, B., Atherton, C., & Sharp, R.J., Geological Report for the Gayna River Property. NWT Assessment Report 085334.
NWT Assessment Reports available at https://app.nwtgeoscience.ca/SearchHome.aspx
4 1982, Hewton, R.S., Gayna River: a Proterozoic Mississippi Valley-type zinc-lead deposit. Precambrian Sulphide Deposits, HS Robinson Memorial Volume: Geological Association of Canada, Special Paper , 25 , pp.667-700.
5 1979, Hardy, J.L. Stratigraphy, Brecciation, and Mineralization, Gayna River, Northwest Territories, M.Sc. thesis, University of Toronto.

Map 1 – Location of the Gayna River claims, Northwest Territories, and Macmillan Pass claims, Yukon, Canada is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/6dc5c753-aa19-4853-a054-28435125ab90

Contact:
Brandon Macdonald
Phone: (604) 646-8361


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Group Eleven Drills Best Hole Yet at Ballywire: 39.7m of 9.5% Zn+Pb, 131 g/t Ag and 0.27% Cu, incl. 5.6m of 16.6% Zn+Pb, 370 g/t Ag and 0.86% Cu

Group Eleven Drills Best Hole Yet at Ballywire: 39.7m of 9.5% Zn+Pb, 131 g/t Ag and 0.27% Cu, incl. 5.6m of 16.6% Zn+Pb, 370 g/t Ag and 0.86% Cu

Group Eleven Resources Corp. (TSXV: ZNG) (OTCQB: GRLVF) (FSE: 3GE) ("Group Eleven" or the "Company") is pleased to announce the latest step-out drill results from the Zn-Pb-Ag horizon at its Ballywire discovery ("Ballywire") at the 100%-owned PG West Project ("PG West"), Republic of Ireland. Drilling at Ballywire's deeper, Cu-Ag target is in progress (to be reported in due course).

Highlights:

  • 25-3552-35 (a 50m step-out to the NE from previous drilling, along the Zn-Pb-Ag horizon) intersected:
    • 53.9m of 7.9% Zn+Pb (4.7% Zn and 3.2% Pb), 99 g/t Ag and 0.20% Cu, including
    • 39.7m of 9.5% Zn+Pb (5.6% Zn and 3.9% Pb), 131 g/t Ag and 0.27% Cu, including
    • 18.3m of 16.1% Zn+Pb (8.9% Zn and 7.2% Pb), 233 g/t Ag and 0.42% Cu, including
    • 5.6m of 16.6% Zn+Pb (8.0% Zn and 8.5% Pb), 370 g/t Ag and 0.86% Cu
    • True thickness is estimated to be 90-100% of the intervals noted above and below
  • Three Cu-Ag enriched zones were also intersected below the above intercept in the same hole:
    • 5.5m of 3.2% Zn+Pb (0.9% Zn and 2.2% Pb), 209 g/t Ag and 0.49% Cu, including
      • 0.9m of 2.1% Zn+Pb (1.5% Zn and 0.6% Pb), 831 g/t Ag and 2.46% Cu and
    • 0.9m of 195 g/t Ag and 0.21% Cu and
    • 3.5m of 7.1% Zn+Pb (3.5% Zn and 3.6% Pb), 134 g/t Ag and 0.34% Cu, including
      • 0.9m of 3.5% Zn+Pb (0.5% Zn and 3.0% Pb), 224 g/t Ag and 0.63% Cu
  • These results extend the strike length of the immediate Ballywire discovery corridor from 1,250m to 1,300m, while demonstrating much thicker mineralization than previously encountered
  • This corridor is hosted within a larger 2.6km long trend of robust mineralization pierced by drilling at Ballywire to date, along a prospective trend of over 6km (defined by four regional gravity-high anomalies, only one of which has been systematically drill tested to date)
  • Today's elevated Cu-Ag values further substantiate the Company's 'deeper Cu-Ag' target (100-200m below the Zn-Pb-Ag horizon), currently being drill tested (second hole in progress)
  • Three rigs are turning at Ballywire with over 4,000m of drilling completed year-to-date; Group Eleven aims to complete 8,000-10,000m in 2025 (fully funded)

"Today's hole represents our thickest intercept yet at the Ballywire discovery, surpassing our 29.6 metres of 10.6% Zn+Pb, 78 g/t Ag and 0.15% Cu announced in June 2024," stated Bart Jaworski, CEO. "Not only does this intercept extend strike and show exceptional mineralized thickness but also demonstrates zones of strong copper-silver values. This adds to growing evidence suggesting a deeper Cu-Ag horizon one to two hundred metres below the main Ballywire discovery horizon. This deeper target is currently being drilled, with one hole finished and a second started. We look forward to releasing these results as soon as assays are available. With three rigs turning each on excellent targets at Ballywire and a recently announced strengthened cash position of C$4.3 million, Group Eleven is poised to keep generating shareholder value through the drill bit for the foreseeable future."

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Exhibit 1. Plan Drill Hole Map of Ballywire Discovery, Showing Hole 25-3552-35

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Exhibit 2. Long-Section of 25-3552-35 (50m Step-Out) at Ballywire

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Note: Structural interpretation above is preliminary and subject to change with further drilling and compilation

Ballywire Drill Update

The Ballywire prospect at the Company's 100%-owned PG West Project in Republic of Ireland, represents the most significant mineral discovery in Ireland in over a decade. First announced in Sept-2022, the discovery has 53 holes drilled and reported by Group Eleven to date, including the most recent hole (25-3552-35) reported today (see Exhibits 1 to 3).

Drilling at Ballywire continues with three rigs. Currently, eight (8) new holes are completed (and in the process of being logged, sampled and assayed). Six of these holes are shown in Exhibit 1, with two other holes near gravity-high anomaly 'D' (located 1.3km to the ENE). Recently strengthened financial position provides Group Eleven flexibility to either ramp-up drilling in 2025 and/or extend its runway for drilling well into 2026.

Assays from 25-3552-35 are summarized below (see Exhibit 3). Strong mineralization starts to occur within the Waulsortian Limestone at 120.6m downhole and continues intermittently until 187.9m, at which point, mineralization becomes more consistent through to near the base of the Waulsortian Limestone at 242.9m. Below the Waulsortian Limestone, several horizons of elevated copper-silver occur. Mineralization consists predominantly of sphalerite, galena and pyrite, with the copper-silver bearing zones also containing chalcopyrite and suspected tennantite-tetrahedrite.

Exhibit 3. Summary of Assays from 25-3552-35 at Ballywire

ItemFrom
(m)
To
(m)
Int
(m)
Zn
(%)
Pb
(%)
Zn+Pb
(%)
Ag
(g/t)
Cu
(%)
25-3552-35120.58121.490.9110.852.9013.75235.00.03
And148.67149.620.9516.904.0520.9569.60.02
And155.22156.150.936.160.676.8318.50.01
And163.74177.6313.893.610.574.179.40.00
Incl.173.19177.634.445.081.146.2218.60.01
Incl.174.98175.910.9310.202.7212.9247.10.02
And187.88241.8253.944.723.187.8999.30.20
Incl.202.15241.8239.675.613.859.45131.10.27
Incl.212.55230.8118.268.897.1816.06233.10.42
Incl.212.55224.2111.6611.609.9921.59207.80.34
Incl.221.33226.965.638.038.5416.57370.00.86
Incl.222.32223.250.9316.2018.9035.10556.01.13
And238.21241.823.610.410.170.5896.40.54
Incl.240.92241.820.900.820.551.37223.01.27
And252.32257.805.480.942.223.16208.80.49
Incl.252.32254.091.772.013.685.69616.81.50
Incl.252.32253.200.881.480.632.11831.02.46
And263.23264.150.920.010.080.09195.00.21
And268.70272.153.453.503.557.06133.70.34
Incl.271.27272.150.880.502.993.49224.00.63

 

Note: True thickness of the mineralized interval in hole 25-3552-35, as a percentage of the down-hole interval, is estimated to be 90-100%

Notes to Exhibit 4: (a) Pallas Green MRE is owned by Glencore (see Glencore's Resources and Reserves Report dated December 31, 2024); (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.

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Exhibit 4. Regional Map of Ballywire Discovery

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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 0.55m to 1.32m with an average (over 188 samples) of 0.92m. The half-core samples are bagged, labelled and sealed at Group Eleven's 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%

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. The 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; OTCQB: GRLVF and FRA: 3GE) 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:

  • 10.8m 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)
  • 12.0m of 1.4% Zn+Pb, 560 g/t Ag, 2.30% Cu and 0.17% Sb (25-3552-31), including
  • 6.4m of 2.1% Zn+Pb, 838 g/t Ag, 3.72% Cu and 0.27% Sb (25-3552-31)
  • 39.7m of 9.5% Zn+Pb, 131 g/t Ag and 0.27% Cu (25-3552-35)

Ballywire is located 20km from Company's 77.64%-owned Stonepark zinc-lead deposit1, which itself is located adjacent to Glencore's Pallas Green zinc-lead deposit2. The Company's two largest shareholders are Michael Gentile (15.3%) and Glencore Canada Corp. (15.2% interest). 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: b.jaworski@groupelevenresources.com | T: +353-85-833-2463
E: j.webb@groupelevenresources.com | 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

Technical and scientific information disclosed from neighbouring properties does not necessarily apply to the current project or property being disclosed. 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.sedarplus.ca and readers are urged to review these materials, including the technical reports filed with respect to the Company's mineral properties.

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