Group Eleven Provides Results of Annual General Meeting

Group Eleven Provides Results of Annual General Meeting

Group Eleven Resources Corp. (TSXV: ZNG,OTC:GRLVF) (OTCQB: GRLVF) (FSE: 3GE) ("Group Eleven" or the "Company") is pleased to announce that all resolutions were passed by the requisite majority at its annual general meeting held in Vancouver, British Columbia on July 30, 2025.

Annual General Meeting Results

A total of 146,630,083 common shares were represented at the AGM, representing 61.166% of the votes attached to all outstanding common shares as at the record date. All of the matters submitted to the shareholders for approval as set out in the Company's notice of meeting and information circular (the "Circular") dated June 20, 2025, were approved by the requisite majority of votes cast at the AGM.

Item 1. Election of Directors

At the Meeting all director nominees listed in the Circular were elected as directors of the Company.

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%

 

Item 2. Appointment of Auditor

Davidson & Company, Chartered Public Accountants, were re-appointed as auditors of the Company.

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

 

Item 3. Approval of Stock Option Plan

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

 

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

About Group Eleven Resources

Group Eleven Resources Corp. (TSXV: ZNG,OTC:GRLVF) (OTCQB: GRLVF) (FSE: 3GE) is a mineral exploration company focused on advanced stage zinc exploration in Ireland. Additional information about the Company is available at www.groupelevenresources.com.

ON BEHALF OF THE BOARD OF DIRECTORS
Bart Jaworski, P.Geo.
Chief Executive Officer

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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/260753

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High-grade zinc-lead-silver and germanium discovery in Ireland, with substantial copper potential

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 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."

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

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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).

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

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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)

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

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Exhibit 5. Regional Map of Ballywire Discovery and Surrounding Prospects

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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 6.2m of 312 g/t Ag and 0.95% Cu, incl. 2.8m of 549 g/t Ag and 1.77% Cu in a 90m Step-Out, Further Supporting Deeper Cu-Ag Target at Ballywire

Group Eleven Drills 6.2m of 312 g/t Ag and 0.95% Cu, incl. 2.8m of 549 g/t Ag and 1.77% Cu in a 90m Step-Out, Further Supporting Deeper Cu-Ag Target at Ballywire

Group Eleven Resources Corp. (TSXV: ZNG,OTC:GRLVF) (OTCQB: GRLVF) (FSE: 3GE) ("Group Eleven" or the "Company") is pleased to announce the latest three step-out drill holes from the discovery 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 (100-200m below discovery horizon) is in progress (to be reported as soon as possible).

Highlights:

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Group Eleven Closes C$5.75M Bought Deal Private Placement, Including Full Exercise of C$750,000 Underwriters' Option

Group Eleven Closes C$5.75M Bought Deal Private Placement, Including Full Exercise of C$750,000 Underwriters' Option

Group Eleven Resources Corp. (TSXV: ZNG,OTC:GRLVF) (OTCQB: GRLVF) (FSE: 3GE) (the "Company") is pleased to announce the closing of its previously-announced "bought deal" private placement for aggregate gross proceeds of C$5,750,000 (the "Offering") through the issuance of 17,968,750 common shares of the Company (the "Common Shares") at a price of C$0.32 per Common Share. The Offering was completed pursuant to an underwriting agreement between the Company, and Cormark Securities Inc. and Beacon Securities Limited (together, the "Underwriters") and included the full exercise of the Underwriters' option.

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.

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Group Eleven Announces C$5M Bought Deal Private Placement

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

To view an enhanced version of this graphic, please visit:
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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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"This Agreement underscores our commitment to engagement with Indigenous communities from the earliest stages of our exploration work," said Martin Turenne , President, CEO, and Director of FPX. "We look forward to continuing to work with the Takla Nation, guided by transparency, respect, and a shared vision for sustainable development in Takla territory."

"The signing of this agreement marks an important step in strengthening our relationship with FPX. By establishing clear principles for engagement, this agreement ensures that our voices are heard from the earliest stages of exploration," commented Chief John French of Takla Nation. "We look forward to working collaboratively with FPX to protect our lands and ensure shared benefits for our community."

Background

The Klow Property is situated approximately 120 km northwest of Fort St. James and around 45 km north of FPX's flagship Baptiste Nickel Project. Portions of the Klow Property are accessible via an all-season public road which connects Fort St. James to Takla Landing . Like the Baptiste Nickel Project, the exploration target for the Klow property is nickel in the form of awaruite, a sulphur-free, nickel-iron mineral (Ni 3 Fe) hosted by serpentinized ultramafic rocks.

Exploration at the Klow Property has advanced in several stages since its initial evaluation. Between 2010 and 2012, FPX conducted geological mapping and rock sampling that delineated a large awaruite target area measuring approximately 1.5 by 1.0 kilometres, with encouraging surface grades. In 2012, a five-hole, 1,579-metre diamond drill program tested a portion of this target, with hole DH-4 intersecting 316 metres grading 0.10% nickel-in-alloy 1 from 10 metres downhole. In 2024, the Company re-analyzed 68 archived core samples from DH-4 using Davis Tube Recoverable (DTR) methods, which confirmed strong correlation with historical nickel-in-alloy values and returned DTR nickel grades averaging 7–10% higher than the original nickel-in-alloy results. Also in 2024, FPX expanded the Klow mineral claims to 251 km 2 , covering mainly prospective ultramafic rocks of the Trembleur Ultramafite, host to mineralization at Baptiste.

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Klow Property Earn-In Agreement

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  • Once JOGMEC has earned its 60% beneficial interest in Klow, the parties will thereafter fund exploration expenditures pro rata to their ownership interest
  • If either party's beneficial interest in Klow is diluted below 10%, that party's beneficial interest will be converted into a 1.5% NSR royalty over Klow, with the other party retaining a right to buy-back 1.0% of the NSR royalty for $3,500,000

Note 1: results were obtained by geochemical analysis and may not accurately represent Davis Tube Recoverable (DTR) nickel grades. DTR nickel values refer to the portion of the total contained nickel that is recovered from a magnetically separated fraction of the sample. Nickel-in-alloy results refer to nickel recovered by a selective geochemical leach which targets nickel contained in awaruite. While both methods measure nickel in awaruite, awaruite particle exposure and grain size influence each method slightly differently, therefore these results are not directly comparable.

Keith Patterson , P.Geo., FPX's Vice President, Exploration, FPX's Qualified Person under NI 43-101, has reviewed and approved the scientific and technical content of this news release.

About FPX Nickel Corp.

FPX Nickel Corp. is focused on the exploration and development of the Baptiste Nickel Project, located in central British Columbia , and other occurrences of the same unique style of naturally occurring nickel-iron alloy mineralization known as awaruite. For more information, please view the Company's website at https://fpxnickel.com/

On behalf of FPX Nickel Corp.

"Martin Turenne"

Martin Turenne , President, CEO and Director

Forward-Looking Statements

Certain of the statements made and information contained herein is considered "forward-looking information" within the meaning of applicable Canadian securities laws. These statements address future events and conditions and so involve inherent risks and uncertainties, as disclosed in the Company's periodic filings with Canadian securities regulators. Actual results could differ from those currently projected. The Company does not assume the obligation to update any forward-looking statement.

Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

SOURCE FPX Nickel Corp.

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*To view the Annual Report, please visit:
https://abnnewswire.net/lnk/X78F5UJ7



About Vertex Minerals Limited:

Vertex Minerals Limited (ASX:VTX,OTC:VTXXF) is an Australian based gold exploration company developing its advanced Hargraves and Hill End gold projects located in the highly prospective Eastern Lachlan Fold Belt of Central West NSW. Other Company assets include the Pride of Elvire gold project and Taylors Rock gold/nickel/lithium project both located in the Eastern Goldfields of WA. The focus of Vertex Minerals is to advance the commercial production of gold from its NSW projects embracing an ethical and environmentally sustainable approach.



Source:
Vertex Minerals Limited

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