Group Eleven Announces C$5M Bought Deal Private Placement

/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES . NOT AN OFFER OF SECURITIES FOR SALE IN THE UNITED STATES /

Group Eleven Resources Corp. (TSXV: ZNG,OTC:GRLVF) (OTCQB: GRLVF) (FRA: 3GE) (" Group Eleven " or the " Company ") is pleased to announce that it has entered into an agreement with Cormark Securities Inc., as lead underwriter, on behalf of a syndicate of underwriters (collectively, the " Underwriters ") in connection with a "bought deal" private placement for aggregate gross proceeds of C$5 million (the " Offering ").

The Offering will consist of the issuance and sale of 15,625,000 common shares of the Company (the " Common Shares ") at a price of C$0.32 per Common Share (the " Issue Price ").

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 2,343,750 Common Shares at the Issue Price for additional gross proceeds of up to C$750,000 .

The Company intends to use the net proceeds from the Offering to expand the remaining funded exploration drill program at Ballywire from approximately 5,000m to approximately 25,000m , 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 (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 United States 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, ongoing 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 .

The securities described herein have not been and will not be registered under the United States ‎Securities Act of 1933, as amended, or any U.S. state securities laws, and may not be offered or ‎sold in the United States absent registration or available exemptions from such registration ‎requirements. This news release does not constitute an offer to acquire securities in any ‎jurisdiction.‎

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 Corporation, to allow such shareholder to exercise its participation right and maintain its 15.2% ownership interest in the Company (the " Non-Brokered Offering "). No commission or other fees will be paid to the Underwriters in connection with the Non-Brokered Offering.

There is an offering document (the " Offering Document ") related to the Offering that can be accessed under the Company's profile at www.sedarplus.ca and the Company's website at https:// groupelevenresources.com. Prospective investors of Common Shares should read the Offering Document before making an investment decision.

The Offering is expected to close on or about July 31, 2025 , or on such other date as may be agreed to by the Company and the Underwriters, subject to compliance with applicable securities laws (the " Closing Date "). Notwithstanding the foregoing, the closing must occur no later than the 45 ^th day following the date of this news release.

The Company will pay a fee in connection with the Offering comprised of (i) a cash commission equal to 6.0% of the aggregate gross proceeds of the Offering (" Cash Commission "), and (ii) an aggregate number of compensation warrants (each, a " Compensation Warrant ") equal to 6.0% of the aggregate number of Common Shares issued pursuant to the Offering. Each Compensation Warrant will be exercisable to acquire one Common Share at an exercise price equal to the Issue Price for a period of 24 months from the Closing Date, subject to adjustment in certain events. The Cash Commission payable to the Underwriters will be reduced to 3.0%, and no Compensation Warrants will be issued, with respect to certain purchasers identified on the Company's president's 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 Professor Garth Earls , Eur Geol, P.Geo, FSEG, geological consultant at IGS (International Geoscience Services) Limited, an independent 'Qualified Person' as defined under National Instrument 43-101 – Standards of Disclosure for Mineral Projects .

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 deposit ¹ , which itself is located adjacent to Glencore's Pallas Green zinc-lead deposit ² . The Company's two largest shareholders are Michael Gentile (15.3%) and Glencore Canada Corporation (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

Cautionary Note Regarding Forward-Looking Information

This press release contains forward-looking information ("forward-looking statements") within the meaning of applicable securities legislation. Such statements include, without limitation, statements regarding the closing of the Offering, the timing of the closing of the Offering, the use of proceeds from the Offering, the receipt of regulatory approvals and future results of operations, performance and achievements of the Company, including the Company drilling the most significant mineral discovery in the Republic of Ireland in over a decade. 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.

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 .

¹ Stonepark MRE is 5.1 million tonnes of 11.3% Zn+Pb (8.7% Zn and 2.6% Pb), Inferred (Apr-17-2018)

² Pallas Green MRE is 45.4 million tonnes of 8.4% Zn+Pb (7.2% Zn + 1.2% Pb), Inferred (Glencore, Dec-31-2024)

SOURCE Group Eleven Resources Corp.

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Group Eleven Resources ZNG:CC TSXV:ZNG Base Metals Investing

ZNG:CC

Group Eleven Drills 6.5m of 217 g/t Ag and 0.34% Cu; and 2.6m of 19 g/t Ag, 1.07% Cu and 0.14% Sb, Confirming Deeper Cu-Ag Mineralization at Ballywire

Group Eleven Resources Corp. (TSXV: ZNG,OTC:GRLVF) (OTCQB: GRLVF) (FSE: 3GE) ("Group Eleven" or the "Company") is pleased to announce results from its first hole testing the 'Deeper Cu-Ag Target' at its Ballywire discovery ("Ballywire") at the 100%-owned PG West Project ("PG West"), Republic of Ireland.

Highlights:

25-3552-40 (filling a 160m gap in previous drilling, while testing the discovery horizon at the base of the Waulsortian Limestone and 250m below it) intersected intermittent mineralization over 240m, including:
- Cu-Ag Intercept (hosted within the base of the Waulsortian Limestone)
- 11.4m of 139 g/t Ag and 0.23% Cu (starting from 340.0m downhole), including
- 6.5m of 217 g/t Ag and 0.34% Cu, including
- 0.7m of 654 g/t Ag and 0.96% Cu and
- 0.7m of 1,165 g/t Ag and 1.89% Cu
- Cu-Ag Intercepts (at the 'Deeper Cu-Ag Target,' below the Waulsortian Limestone)
- 2.8m of 26 g/t Ag and 0.39% Cu, (from 441.3m downhole), including
- 1.8m of 34 g/t Ag and 0.53% Cu, including
- 0.2m (17cm) of 148 g/t Ag and 2.59% Cu, and
- 17.9m of 10 g/t Ag and 0.37% Cu, (from 516.9m downhole), including
- 4.7m of 13 g/t Ag, 0.71% Cu and 0.09% Sb, including
- 2.6m of 19 g/t Ag, 1.07% Cu and 0.14% Sb
Results confirm presence of Cu-Ag (Sb) mineralization in the 'Deeper Cu-Ag Target' below the base of the Waulsortian Limestone, in line with Group Eleven's exploration model
Two follow-up holes, to the NNW and SSE of the above hole, respectively, are underway
Cu-Ag (and locally Sb) mineralization consists of chalcopyrite and suspected tennantite-tetrahedrite occurring as disseminated mineralization and/or within calcite veins; mineralization appears to be related to a south-dipping fault zone (pierced by today's drill hole) which is associated with Zn-Pb-Ag mineralization stratigraphically higher up (at the base of the Waulsortian Limestone)

"This is the first test of our hypothesized 'Deeper Cu-Ag Target' and we are thrilled that it has borne fruit," stated Bart Jaworski, CEO. "With a viable new Cu-Ag target below our existing Zn-Pb-Ag horizon, our exploration potential has essentially doubled. We are gearing up to expand on this deeper discovery not only up and down dip, but also along our 2.6km-long strike-length of robust zinc mineralization pierced by drilling to date. As per our nearby geological analogues at Gortdrum, Denison and Tullacondra, fault-controlled Cu-Ag mineralization tends to strengthen with increased shattering along the structure. Further drilling at the 'Deeper Cu-Ag Target' will aim to identify these features. With three rigs turning each on excellent targets at Ballywire, a fourth rig likely to be added soon and a recently bolstered cash position, Group Eleven is poised to keep generating shareholder value through the drill bit for the foreseeable future."

Exhibit 1. Cross Section of Deeper Cu-Ag Target Showing Hole 25-3552-40

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5685/267324_groupelevenexhibit1.jpg

Note: *Fence of holes G11-3552-25 to -31 is projected 60m onto the section plane; true thickness of intervals in 25-3552-40 as a percentage of down-hole interval, is estimated to be 80-100% (taking into account variability of vein orientations).

Exhibit 2. Plan Map of Ballywire Discovery Showing New Drilling and Location of Above Section

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5685/267324_groupelevenexhibit2.jpg

Note: Hole 25-3552-38 returned trace sphalerite and galena over approx. 12m, near the base of the Waulsortian Limestone

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 59 holes drilled and reported by Group Eleven to date, including the most recent three holes (25-3552-38, -40 and -41) reported today (see Exhibits 1 to 4). Drilling to date at Ballywire has pierced robust mineralization over a 2.6km strike-length, 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; see Exhibit 4).

Today's results from hole 25-3552-40 confirm that Cu-Ag mineralization exists below the base of the Waulsortian Limestone, in line with Group Eleven's 'Deeper Cu-Ag Target' exploration model. Assay results are summarized in Exhibit 3. In addition to the description above, it is noteworthy that at least one large (19cm wide) tennantite-tetrahedrite-bearing calcite vein is bedding parallel, whereas other similar but narrower veins tend to be more irregular in orientation.

Two additional holes have been released today. Holes 25-3552-38 and -41, drilled 1.3km to the NE, near gravity-high anomaly 'D' (see Exhibits 2 and 4), also returned significant results.

Hole 25-3552-41 intersected what is interpreted as oxidized massive sulphide mineralization within a fault zone. Despite being highly weathered, the interval returned highly anomalous metal concentrations: (i) 7.9m of 0.74% Zn+Pb (0.57% Zn and 0.17% Pb) and 7.4 g/t Ag (starting at 229.5m downhole), including 0.9m of 2.87% Zn+Pb (2.43% Zn and 0.44% Pb) and 35.9 g/t Ag; and (ii) 12.0m of 0.13% Zn+Pb (0.06% Zn and 0.07% Pb) and 3.3 g/t Ag (starting at 258.2m downhole), including 1.1m of 0.55% Zn+Pb (0.21% Zn and 0.34% Pb) and 18.6 g/t Ag. These intervals (7.9m and 12.0m) contained weathered-out cavities totalling 19% and 40% of their respective downhole lengths (assumed 'nil' grade in the above weighted-average calculations). It is possible that these cavities represent evidence of preferential weathering due to original high levels of mineralization (e.g. massive sulphide). Hole 25-3552-38 returned trace sphalerite and galena (from approx. 231-244m downhole) near the base of the Waulsortian Limestone, also suggesting proximity to higher-grade mineralization.

Follow up drilling will resume at this locality once drill permits are received for the adjacent area, allowing more flexibility to systematically test the entire 'Anomaly D' target. This is the Company's first test of this target area and given the above results, exploration potential has been confirmed. Today's results, combined with: (a) mineralized historic hole 99-3352-5, (b) two shallow historic holes with abundant calcite (similar to calcite bodies associated with the massive sulphide at the discovery trend) and (c) the presence of the 'D' gravity anomaly itself (see Exhibit 4), add significantly to the prospectivity of this target.

Overall, three rigs are currently drilling at Ballywire, with a fourth rig expected soon. One rig continues to drill a fence of holes collared 200m east of hole G11-3552-08 (see Exhibit 2), testing for the easterly continuation of the mineralized trend. The second and third rigs are drilling along the section of holes containing G11-468-01 and 00-468-5 (see Exhibit 2) to test for a SW continuation of high-grade mineralization towards gravity-high anomaly 'B'. Depending on results, the next fence of drilling testing the 'Deeper Cu-Ag Target' may be from this section. The fourth rig is likely to be geared towards reconnaissance drilling further outboard of the current mineralized corridor.

Currently, twelve (12) new holes are completed or nearly completed (and in the process of being logged, sampled and assayed) as shown in Exhibit 2 (specifically, two holes near 25-3552-40; three holes near hole G11-3552-19; four holes collared approx. 200m NNW of G11-3552-08; and three holes on the drill fence hosting G11-468-01).

Exhibit 3. Summary of Assays from 25-3552-40 at Ballywire

Item	From (m)	To (m)	Int (m)	Zn (%)	Pb (%)	Zn+Pb (%)	Ag (g/t)	Cu (%)	Sb (%)
25-3552-40	311.91	358.83	46.92	0.33	0.11	0.44	35.7	0.06	-
Incl.	339.96	351.35	11.39	0.66	0.22	0.88	138.8	0.23	0.02
Incl.	339.96	346.43	6.47	0.73	0.22	0.94	217.4	0.34	0.03
Incl.	339.96	340.66	0.70	2.64	0.27	2.91	654.0	0.96	0.09
Incl.	345.78	346.43	0.65	0.90	0.36	1.26	1,165.0	1.89	0.15
And	441.28	444.05	2.77	0.03	0.00	0.03	25.8	0.39	0.03
Incl.	442.23	444.05	1.82	0.04	0.00	0.04	33.9	0.53	0.04
Incl.	442.85	443.02	0.17	0.15	0.00	0.16	148.0	2.59	0.16
And	453.55	453.88	0.33	0.00	0.01	0.01	16.8	0.33	0.01
And	493.25	494.23	0.98	0.05	0.00	0.06	15.3	0.69	0.08
And	508.31	511.18	2.87	0.03	0.01	0.04	7.7	0.35	0.05
Incl.	510.18	511.18	1.00	0.05	0.00	0.05	13.6	0.69	0.09
And	516.89	534.81	17.92	0.03	0.00	0.03	10.0	0.37	0.05
Incl.	516.89	526.34	9.45	0.04	0.00	0.04	9.4	0.49	0.06
Incl.	521.62	526.34	4.72	0.05	0.00	0.06	12.7	0.71	0.09
Incl.	521.62	524.17	2.55	0.08	0.00	0.08	19.2	1.07	0.14
Incl.	523.98	524.17	0.19	0.32	0.00	0.32	72.2	4.36	0.47
And	531.40	533.85	2.45	0.02	0.00	0.02	24.0	0.28	0.04
And	546.82	552.31	5.49	0.01	0.01	0.02	8.0	0.12	0.01

Note: True thickness of the mineralized interval in holes 25-3552-40 as a percentage of the down-hole interval, is estimated to be 80-100% (taking into account variability of vein orientations)

Exhibit 4. Regional Gravity Map Showing 6km Long Prospective Trend at Ballywire

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https://images.newsfilecorp.com/files/5685/267324_groupelevenexhibit4.jpg

Exhibit 5. Regional Map of Ballywire Discovery and Surrounding Prospects

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https://images.newsfilecorp.com/files/5685/267324_groupelevenexhibit5.jpg

Notes to Exhibit 5: (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.

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 0.17m to 1.41m with an average (over 243 samples) of 0.93m. 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. (TSXV: ZNG,OTC:GRLVF) (OTCQB: GRLVF) and (FSE: 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 (14.2%) and Glencore Canada Corp. (14.1% 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.lau@groupelevenresources.com | T: 604-781-4915

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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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."

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

Item	From (m)	To (m)	Int (m)	Zn (%)	Pb (%)	Zn+Pb (%)	Ag (g/t)	Cu (%)
25-3552-35	120.58	121.49	0.91	10.85	2.90	13.75	235.0	0.03
And	148.67	149.62	0.95	16.90	4.05	20.95	69.6	0.02
And	155.22	156.15	0.93	6.16	0.67	6.83	18.5	0.01
And	163.74	177.63	13.89	3.61	0.57	4.17	9.4	0.00
Incl.	173.19	177.63	4.44	5.08	1.14	6.22	18.6	0.01
Incl.	174.98	175.91	0.93	10.20	2.72	12.92	47.1	0.02
And	187.88	241.82	53.94	4.72	3.18	7.89	99.3	0.20
Incl.	202.15	241.82	39.67	5.61	3.85	9.45	131.1	0.27
Incl.	212.55	230.81	18.26	8.89	7.18	16.06	233.1	0.42
Incl.	212.55	224.21	11.66	11.60	9.99	21.59	207.8	0.34
Incl.	221.33	226.96	5.63	8.03	8.54	16.57	370.0	0.86
Incl.	222.32	223.25	0.93	16.20	18.90	35.10	556.0	1.13
And	238.21	241.82	3.61	0.41	0.17	0.58	96.4	0.54
Incl.	240.92	241.82	0.90	0.82	0.55	1.37	223.0	1.27
And	252.32	257.80	5.48	0.94	2.22	3.16	208.8	0.49
Incl.	252.32	254.09	1.77	2.01	3.68	5.69	616.8	1.50
Incl.	252.32	253.20	0.88	1.48	0.63	2.11	831.0	2.46
And	263.23	264.15	0.92	0.01	0.08	0.09	195.0	0.21
And	268.70	272.15	3.45	3.50	3.55	7.06	133.7	0.34
Incl.	271.27	272.15	0.88	0.50	2.99	3.49	224.0	0.63

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.

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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Item	From (m)	To (m)	Int (m)	Zn (%)	Pb (%)	Zn+Pb (%)	Ag (g/t)	Cu (%)
25-3552-37	124.88	310.10	185.22	0.43	0.18	0.61	15.7	0.05
Incl.	124.88	132.60	7.72	2.75	0.81	3.55	30.4	0.01
Incl.	124.88	125.99	1.11	6.20	2.39	8.59	90.4	0.02
And	125.85	132.60	6.75	3.08	0.92	4.00	33.5	0.01
Incl.	125.85	130.72	4.87	3.97	1.19	5.16	44.6	0.01
Incl.	125.85	125.99	0.14	46.40	18.70	65.10	654.0	0.08
And	127.85	132.60	4.75	3.00	0.74	3.74	28.1	0.01
Incl.	127.85	130.72	2.87	4.45	1.10	5.54	43.5	0.01
Incl.	127.85	128.78	0.93	6.37	1.42	7.79	64.6	0.01
And	129.78	130.72	0.94	7.21	1.91	9.12	68.4	0.02
And	151.70	164.80	13.10	1.32	0.17	1.48	6.1	0.00
Incl.	161.00	163.85	2.85	2.70	0.61	3.31	15.7	0.01
And	173.17	177.74	4.57	0.53	0.25	0.78	2.3	-
And	182.25	183.16	0.91	0.94	0.09	1.02	0.7	-
And	190.50	193.10	2.60	0.72	0.05	0.77	0.4	-
And	198.40	200.32	1.92	0.92	0.31	1.23	2.2	-
And	203.10	206.80	3.70	0.61	0.16	0.77	2.7	-
And	210.40	234.97	24.57	0.76	0.19	0.95	4.4	-
Incl.	219.90	234.97	15.07	0.91	0.25	1.16	5.3	-
Incl.	219.90	220.90	1.00	3.22	0.49	3.71	16.7	0.02
And	243.20	258.90	15.70	0.21	0.30	0.51	16.9	0.06
Incl.	250.15	251.80	1.65	0.36	0.39	0.75	104.8	0.45
And	264.35	266.10	1.75	0.08	0.08	0.17	17.5	0.01
And	295.30	300.75	5.45	0.07	0.37	0.44	17.1	0.20
And	303.90	310.10	6.20	0.07	1.29	1.36	311.7	0.95
Incl.	303.90	306.70	2.80	0.13	0.09	0.22	549.0	1.77
Incl.	305.40	306.70	1.30	0.24	0.06	0.30	1,104.6	3.25
Incl.	306.40	306.70	0.30	0.39	0.10	0.49	2,470.0	5.87
25-3552-36	239.96	278.35	38.39	0.34	0.26	0.60	2.0	-
Incl.	244.88	251.68	6.80	1.01	0.29	1.30	3.5	-
Incl.	248.76	250.72	1.96	1.86	0.50	2.37	5.1	-
And	261.31	268.84	7.53	0.53	0.94	1.47	4.8	0.02
Incl.	262.20	264.96	2.76	1.06	1.79	2.85	9.1	0.04
And	305.02	307.81	2.79	0.40	0.06	0.46	231.0	0.85
Incl.	305.74	305.90	0.16	1.58	0.25	1.82	3,820.0	12.60
Incl.	305.90	306.82	0.92	0.50	0.06	0.56	30.0	0.28
25-3552-34	205.50	205.60	0.10	8.07	0.28	8.35	38.9	0.06
And	232.22	248.29	16.07	0.15	0.12	0.27	8.0	0.09
Incl.	241.47	247.82	6.35	0.12	0.24	0.36	18.1	0.23
Incl.	244.53	246.43	1.90	0.25	0.64	0.89	59.2	0.75
Incl.	245.44	246.43	0.99	0.23	0.36	0.59	87.1	1.00

Director	Vote Type	Number of Votes	Percentage of Votes
Daniel MacInnis	For Withheld	137,939,938 200	100% 0%
Alessandro Bitelli	For Withheld	137,939,938 200	100% 0%
Brendan Cahill	For Withheld	137,863,271 76,867	99.944% 0.056%
Bart Jaworski	For Withheld	137,666,671 273,467	99.802% 0.198%
Franz Bollmann	For Withheld	137,929,938 10,200	99.993% 0.007%
Michael Gentile	For Withheld	137,909,938 30,200	99.978% 0.022%

Votes For	% of Votes	Votes Withheld	% of Votes
146,529,768	99.932%	100,315	0.068%

Equity Plan	Vote Type	Number of Votes	Percentage of Votes
Stock Option Plan	For Against	137,535,416 404,722	99.707% 0.293%

Group Eleven Announces C$5M Bought Deal Private Placement

Group Eleven Resources Investor Kit

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Investor Insight

Overview

Company Highlights

Key Projects

PG West and Stonepark Projects

Ballywire Discovery – A Major Zinc-Lead-Silver Breakthrough

Carrickittle West – A Pallas Green Analogue

Key Board and Management

Daniel MacInnis - Chairman and Director

Bart Jaworski – Chief Executive Officer

Brendan Cahill - Director

Alessandro Bitelli - Director

Franz Bollmann - Director

Michael Gentile - Director

Jeannine Webb - Chief Financial Officer

David Furlong - Chief Operating Officer

Dr. Mark Holdstock - Project Manager

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