Group Eleven Highlights Elevated Germanium Grades from Recent Drilling at Ballywire; Provides Drill Update

Group Eleven Highlights Elevated Germanium Grades from Recent Drilling at Ballywire; Provides Drill Update

Group Eleven Resources Corp. (TSXV: ZNG) (OTC Pink: GRLVF) (FSE: 3GE) ("Group Eleven" or the "Company") is pleased to announce the latest germanium assays from recent drilling at the Company's 100%-owned Ballywire zinc-lead-silver discovery ("Ballywire"), PG West Project ("PG West"), Republic of Ireland.

New Germanium Assays

  • Germanium (Ge) grades including 71.7 g/t, 41.2 g/t and 27.8 g/t returned from five (5) holes in northeastern portion of Ballywire discovery (Ge price is approx. US$75/oz or US$2.40/gram1)

  • Elevated Ge is now demonstrated over a strike length of 1.25km (from 890m previously)

  • Highest Ge grades correlate well with the highest Zn grades (suggesting Ge occurs with sphalerite)

  • Ge analyses over the other mineralized areas are ongoing, to be released periodically

Drill Update

  • After the Christmas break, drilling at Ballywire reconvened on January 6th with two drill rigs

  • In 2024, the Company drilled over 8,100m at Ballywire compared to 4,800m and 1,950m in 2023 and 2022, respectively

  • In total, over 16,100m have been drilled at Ballywire by Group Eleven to the end of 2024, including six (6) holes (totalling over 1,520m) expected to be released as assays become available

  • At the Carrickittle West prospect, spanning the Stonepark and PG West Projects, drilling has been completed according to plan with results expected mid-late Q1 2025

"We are excited to start our third consecutive year of intensive exploration at Ballywire. Last year was transformative for us given the exceptional drill results attained, both in terms of grades and widths, as well as shallowing depths of high-grade massive sulphide horizons. The continuation of elevated germanium along the entire main trend of our discovery to date is also highly encouraging. Germanium is approx. 2.5x more valuable than silver and is a key metal for the highly competitive AI semiconductor industry.

With 42 holes drilled and announced, plus robust mineralization pierced over a 2.6km long trend, we have a strong foundation from which to build further shareholder value at Ballywire in 2025. With two rigs turning for the foreseeable future, the key drill targets for Ballywire include the remainder of our 6km prospective trend, hypothesized mineralization parallel to the discovery trend and a deeper horizon highly prospective for copper and silver."

Ongoing Drilling at Ballywire Discovery

The Ballywire prospect at the Company's 100%-owned PG West Project in the Republic of Ireland, is a new zinc-lead-silver discovery (first announced Sept-2022). To date, 42 holes (totalling 14,549m) have been drilled and reported by Group Eleven.

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Exhibit 1. Plan Map Showing New and Previously Released Germanium Assays at Ballywire

Note: Ge assays above denote the highest single Ge assay within each hole (see full assays in Exhibits 4 and 5 and Appendices); 'Other Mineralization' and 'Massive Sulphide Zone' denote robust Zn-Pb-Ag mineralization

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Exhibit 2. Drill Hole Plan Map Showing Mineralized Intercepts and Pending Drill Holes

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In total, over 16,100m have been drilled at Ballywire by Group Eleven to the end of 2024, including six (6) holes (totalling over 1,520m) located in the northeastern portion of the discovery area (see G11-3552-24 to -29 in Exhibit 2). Results from these holes are expected to be released as assays become available. Exhibit 2 shows drilling to date across 1.25km of the overall 2.6km long trend (see Exhibit 1) of significantly mineralized drill intercepts (open in all directions).

Germanium Analyses

To attain accurate germanium (Ge) assays, the Company engages with ALS Global (Loughrea, Co. Galway, Ireland) to re-analyse previous sample pulps using an assay technique specifically suited for germanium, gallium and indium detection (lithium borate fusion). The process of re-analysing intervals which are well mineralized with zinc and lead is well advanced, however, still incomplete. Further Ge analyses are ongoing and will continue to be released periodically.

Given re-sampling is focussed only on the highest-grade mineralized intervals, coverage is often non-continuous and hence difficult to compare between drill holes. Therefore, the approach taken in Exhibit 1 focusses on the highest grading single Ge sample from each hole as a preliminary illustration of the Ge distribution across the Ballywire discovery trend.

Background Information on Germanium

Due to its application in high-tech industries and its scarcity on the Earth's crust, the element germanium (Ge) has been on the European Union List of Critical Raw Materials since 2010. Other countries that designate Ge as a critical element include US, China, Australia and Canada. The American Physical Society categorizes Ge as one of the 'Energy Critical Elements'. China produces 60-80% of global supply of Ge and as of 2019, "no trade agreements existed between China and EU regarding germanium trade," according to the European Commission. The primary use of germanium is in fibre optics and high-end solar panel technologies, and increasingly, in high-end (AI capable) semiconductors (computer chips).

Ge currently trades at approximately US$75/oz (US$2.40/gram), or about 2.5 times the price of silver (US$30/oz). Germanium prices are sourced from Trading Economics and converted from Chinese Yuan per kilogram (see Exhibit 3).

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Exhibit 3. Seven Year Chart of Germanium Prices (CNY/kg)

Source: Trading Economics

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Globally, Ge does not occur as primary deposits, instead occurs only as a by-product in some zinc or coal deposits. According to the USGS2, the most significant carbonate-hosted zinc-lead-copper deposit that contains notable amounts of germanium is the Kipushi deposit in the Democratic Republic of Congo. USGS states that Kipushi contains an average grade of 68 g/t Ge. This is in line with Ivanhoe's recent announcement on Kipushi noting its Mineral Resource Estimate (Measured & Indicated; dated June 14, 2018) hosting 11.8mt of 35.3% Zn, 0.80% Cu, 1.1% Pb, 23 g/t Ag, 13 g/t Co and 64 g/t Ge (see Ivanhoe Mines news release dated Feb 14, 2022). Similarly, the Ballywire results above rank as some of the highest grades of Ge within zinc deposits in Ireland.

Exhibit 4. New Germanium Assays from G11-3552-12

From
(m)
To
(m)
Int
(m)
Zn
%
Pb
%
Zn+Pb
%
Ag
g/t
Ge
g/t
G11-3552-12
283.44 284.26 0.82 4.39 0.99 5.38 13.9 14.2
284.26 285.16 0.90 13.15 2.22 15.37 33.8 27.8
285.16 285.30 0.14 0.37 1.46 1.82 16.0 NYA
285.30 285.90 0.60 7.09 2.25 9.34 25.6 15.4
285.90 286.27 0.37 4.42 5.13 9.55 22.6 11.8
293.44 293.80 0.36 5.94 17.70 23.64 68.8 4.9
293.80 294.12 0.32 1.29 8.89 10.18 37.3 1.1
294.12 294.78 0.66 3.18 38.30 41.48 127.0 1.9
294.78 295.66 0.88 1.96 19.80 21.76 70.6 1.2
295.66 296.34 0.68 3.68 17.45 21.13 77.4 2.7
296.34 297.25 0.91 2.55 18.90 21.45 66.3 2.7
297.25 298.21 0.96 2.50 29.70 32.20 96.2 2.2
298.21 298.55 0.34 13.05 3.17 16.22 63.4 13.1
298.55 299.08 0.53 1.98 0.80 2.78 10.8 3.0
299.08 299.34 0.26 14.25 10.85 25.10 70.1 9.2
299.34 299.63 0.29 2.30 0.77 3.07 8.0 3.4
299.63 300.07 0.44 21.80 4.65 26.45 88.3 19.9
300.07 301.12 1.05 0.57 0.22 0.79 8.2 1.2
301.12 302.24 1.12 3.45 2.19 5.64 84.4 3.3
302.24 303.10 0.86 10.20 11.15 21.35 353.0 5.5
303.10 303.93 0.83 17.10 7.15 24.25 319.0 15.3
306.77 307.26 0.49 7.94 4.32 12.26 172.0 7.3
308.19 308.66 0.47 4.18 3.79 7.97 571.0 3.3
283.44 286.27 2.83 7.55 2.21 9.77 24.0 17.8
298.21 303.93 5.72 8.20 4.33 12.53 132.5 7.1
298.21 300.07 1.86 10.46 3.54 14.00 46.6 9.8
Note: continuous intervals shown as shaded meterage; 'NYA' means not yet assayed, assumed nil; all other data (Zn, Pb, Ag) previously announced

 

Exhibit 5. New Germanium Assays from G11-3552-16, -17, -18 and -19

From
(m)
To
(m)
Int
(m)
Zn
%
Pb
%
Zn+Pb
%
Ag
g/t
Ge
g/t
G11-3552-16
255.52 256.16 0.64 28.00 5.96 33.96 106.0 22.9
 







G11-3552-17
144.46 145.04 0.58 23.70 4.70 28.40 209.0 15.2
150.15 150.39 0.24 19.55 5.09 24.64 257.0 71.7
151.85 152.81 0.96 27.10 2.49 29.59 326.0 25.5
167.78 168.11 0.33 28.90 5.40 34.30 147.0 66.1
210.02 210.44 0.42 14.15 0.12 14.27 35.5 21.4
210.44 211.38 0.94 14.35 0.12 14.47 25.5 8.4
211.38 212.33 0.95 11.90 0.06 11.96 28.9 NYA
212.33 213.31 0.98 19.40 2.88 22.28 33.5 34.1
210.02 213.31 3.29 15.12 0.92 16.05 30.1 15.3
 







G11-3552-18
255.59 255.82 0.23 18.55 8.59 27.14 48.1 41.2
257.50 258.56 1.06 17.85 18.25 36.10 218.0 17.5
258.84 259.26 0.42 19.25 14.00 33.25 188.0 22.7
263.22 263.45 0.23 27.10 5.23 32.33 110.0 38.9
 







G11-3552-19
199.69 200.40 0.71 13.95 1.65 15.60 31.6 25.3
200.40 201.15 0.75 5.32 0.14 5.46 26.0 4.9
201.15 201.73 0.58 5.35 0.31 5.66 18.6 12.0
201.73 202.55 0.82 20.50 0.53 21.03 60.4 25.1
202.55 203.46 0.91 21.00 6.32 27.32 62.1 14.2
203.46 204.38 0.92 20.70 11.75 32.45 83.1 14.2
204.38 205.33 0.95 19.35 7.31 26.66 91.9 12.8
205.33 206.23 0.90 29.60 7.77 37.37 95.7 12.2
206.23 206.90 0.67 32.20 2.59 34.79 80.1 22.1
206.90 207.72 0.82 16.05 7.19 23.24 121.0 19.6
207.72 208.38 0.66 17.45 6.22 23.67 269.0 6.0
199.69 208.38 8.69 18.78 5.08 23.86 85.0 15.3
Note: continuous intervals shown as shaded meterage; 'NYA' means not yet assayed, assumed nil; all other data (Zn, Pb, Ag) previously announced

 

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

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Notes to Exhibit 7: (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.

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Exhibit 7. Regional Map of PG West (100% Interest) and Stonepark (76.56% Interest)

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Stonepark Joint Venture

Prior to the start of the 2024 drill program at the Stonepark Project, Arkle Resources PLC (Group Eleven's joint venture partner on the project) elected not to finance their pro-rata share of program costs. As a result, Group Eleven's ownership in the Stonepark project is expected to increase from 76.56% to 77.64%. This increase is expected to be finalized later this year, upon payment of all program costs and subsequent proportional issuance of shares (of TILZ Minerals Limited, Group Eleven's subsidiary which wholly owns the Stonepark project) to Group Eleven.

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.

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 Pink: GRLVF) (FSE: 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

  • 6.1m of 11.4% Zn+Pb, 85 g/t Ag (G11-3552-13)

  • 5.6m of 13.1% Zn+Pb, 116 g/t Ag (G11-3552-17)

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

  • 8.7m of 23.9% Zn+Pb and 85 g/t Ag (G11-3552-19)

The Company's two largest shareholders are Glencore Canada Corp. (17.1% interest) and Michael Gentile (16.5%). 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

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.

Appendix 1. Previously Released Germanium Assays from G11-468-01, -03, -06

From
(m)
To
(m)
Int
(m)
Zn
%
Pb
%
Zn+Pb
%
Ag
g/t
Ge
g/t
G11-468-01
312.70 313.50 0.80 13.55 3.27 16.82 67.8 40.9
313.50 314.10 0.60 5.90 1.21 7.11 31.1 16.2
314.10 314.85 0.75 4.46 0.54 5.00 22.3 14.5
314.85 315.25 0.40 20.10 5.35 25.45 92.2 38.5
315.25 315.55 0.30 13.20 4.47 17.67 59.5 33.1
315.55 315.80 0.25 2.91 0.41 3.32 18.7 7.4
315.80 316.00 0.20 14.50 2.56 17.06 52.2 35.0
312.70 316.00 3.30 10.11 2.38 12.48 48.3 26.5
 







G11-468-03
228.20 228.57 0.37 21.40 3.76 25.16 171.0 26.2
229.31 229.87 0.56 32.70 13.70 46.40 632.0 63.2
251.65 252.82 1.17 5.35 1.09 6.44 106.0 14.5
252.82 253.82 1.00 3.54 4.56 8.10 113.0 6.5
253.82 254.60 0.78 4.17 3.47 7.64 89.7 8.8
- - - - - - - -
256.45 257.00 0.55 32.70 19.70 52.40 540.0 55.1
257.00 257.81 0.81 32.10 10.40 42.50 339.0 38.4
257.81 258.10 0.29 44.30 3.35 47.65 496.0 79.2
258.10 258.50 0.40 14.35 2.00 16.35 183.0 33.9
268.88 269.72 0.84 17.35 1.99 19.34 55.2 23.2
251.65 254.60 2.95 4.42 2.89 7.32 104.1 10.3
256.45 258.50 2.05 30.52 10.26 40.78 384.7 47.8
 







G11-468-06
292.00 292.28 0.28 17.80 1.76 19.56 67.6 38.0
292.78 292.90 0.12 13.65 1.09 14.74 39.4 26.5
297.70 297.80 0.10 24.30 1.13 25.43 60.1 70.7
298.15 298.55 0.40 15.95 4.83 20.78 97.0 34.3
304.60 305.13 0.53 45.50 20.20 65.70 421.0 47.5
305.13 305.43 0.30 15.45 21.30 36.75 309.0 8.4
305.43 305.90 0.47 0.12 0.06 0.18 0.8 0.3
305.90 305.98 0.08 33.40 3.97 37.37 136.0 37.4
305.98 306.10 0.12 0.83 0.11 0.93 3.1 1.2
306.10 306.25 0.15 32.20 8.77 40.97 108.0 41.2
306.25 306.59 0.34 0.88 0.21 1.08 4.8 2.1
306.59 307.08 0.49 28.40 5.85 34.25 105.0 20.3
307.08 307.78 0.70 0.18 0.98 1.16 10.7 0.5
346.34 346.66 0.32 2.55 40.20 42.75 187.0 3.5
304.60 307.08 2.48 20.41 8.75 29.16 160.0 19.3
Note: continuous intervals shown as shaded meterage; '-' means sample gap; all other data (Zn, Pb, Ag) previously announced

 

Appendix 2. Previously Released Ge Assays (G11-468-10 to -13, -15, G11-3552-03)

From
(m)
To
(m)
Int
(m)
Zn
%
Pb
%
Zn+Pb
%
Ag
g/t
Ge
g/t
G11-468-10
400.17 400.46 0.29 3.07 2.40 5.47 83.0 1.7
 







G11-468-11
258.31 259.30 0.99 0.06 0.04 0.09 15.5 0.3
259.30 260.11 0.81 0.09 0.06 0.15 37.6 0.3
260.11 261.30 1.19 0.02 0.05 0.07 23.1 0.3
258.31 261.30 2.99 0.05 0.05 0.10 24.5 0.3
 







G11-468-12
266.36 267.13 0.77 9.14 1.60 10.74 40.9 24.4
267.13 268.10 0.97 1.16 0.02 1.18 3.2 2.0
268.10 269.00 0.90 0.57 0.04 0.61 4.3 2.4
269.00 269.57 0.57 13.95 1.70 15.65 45.8 25.1
269.57 270.10 0.53 2.19 0.40 2.59 8.0 6.8
270.10 270.68 0.58 10.95 19.35 30.30 990.0 22.1
- - - - - - - -
292.00 292.74 0.74 9.51 16.60 26.11 356.0 7.3
292.74 293.46 0.72 22.30 8.33 30.63 932.0 16.6
293.46 294.11 0.65 14.50 21.50 36.00 912.0 16.6
294.11 295.14 1.03 1.40 5.25 6.65 72.0 3.5
266.36 270.68 4.32 5.59 3.17 8.76 148.8 12.4
292.00 295.14 3.14 10.81 11.99 22.81 510.0 10.1
 







G11-468-13
264.45 265.20 0.75 11.25 2.43 13.68 57.6 15.8
272.05 272.80 0.75 10.05 11.65 21.70 112.0 6.0
272.80 273.27 0.47 11.65 11.25 22.90 101.0 9.6
281.08 281.60 0.52 15.05 0.99 16.04 63.2 6.6
272.05 273.27 1.22 10.67 11.50 22.16 107.8 7.4
 







G11-468-15
272.38 272.57 0.19 11.35 10.85 22.20 199.0 11.4
273.26 273.80 0.54 8.16 23.30 31.46 170.0 10.5
 







G11-3552-03
218.76 219.20 0.44 13.65 8.49 22.14 93.9 8.9
280.56 281.29 0.73 31.40 7.25 38.65 160.0 24.4
285.12 286.05 0.93 8.20 8.87 17.07 81.9 6.5
291.62 291.80 0.18 24.00 3.12 27.12 397.0 12.4
Note: continuous intervals shown as shaded meterage; '-' means sample gap; all other data (Zn, Pb, Ag) previously announced

 

________________________
1 Derived from Trading Economics (tradingeconomics.com): CNY 16,950 per kg (13-Jan-2025)
2 US Geological Survey; Professional Paper 1802-I titled "Germanium and Indium" (Shanks III et al, 2017)

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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 ").

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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

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.

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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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