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Fireweed Intersects Three Distinct High-Grade Zinc Zones Including 23.77% Zinc, 3.44% Lead, and 75.7 g/t Silver Over 10.42 m in New Zone at Boundary West

Fireweed Zinc LTD. ("Fireweed") (TSXV: FWZ) is pleased to announce the results from the second drill hole at Boundary West for the 2021 Macmillan Pass zinc-lead-silver project drill program, Yukon, Canada.

Highlights

  • Three distinct zones of zinc-lead-silver mineralization were intersected in a step-out hole at Boundary West, including a newly discovered zone of high-grade laminated stratiform mineralization similar in style to the Tom and Jason deposits.
  • The new stratiform zone graded 23.77% zinc, 3.44% lead, and 75.7 g/t silver over 10.42 m within a broader zone of 9.91% zinc, 1.64% lead and 39.6 g/t silver over 32.99 m.
  • Massive to semi-massive sulphides under the stratiform interval ran 8.22% zinc, 0.71% lead, 53.6 g/t silver over 60.68 m including a higher-grade massive-sulphide zone of 10.36% zinc, 0.94% lead, and 66.7 g/t silver over 40.08 m.
  • A broad zone of vein-hosted mineralization at shallow depths in the hole returned 4.57% zinc, 0.02% lead, and 7.9 g/t silver over 40.24 m including a higher-grade zone of 9.99% zinc, 0.06% lead, and 17.4 g/t silver over 13.40 m.

CEO Statement

Brandon Macdonald, CEO, stated "This step-out hole at Boundary West has delivered not one, but three very impressive intersections over significant widths. Encouragingly, these three intersections represent three separate zones of mineralization, including the first full intersection through the newly discovered Tom-Jason style laminated stratiform mineralization. This hole demonstrates that the new zone has very high grades of zinc, lead, and silver and opens up the rest of the Boundary area to exploration for this style of mineralization. We are also very pleased to see the grades increasing with depth in the massive sulphide mineralization and in the vein-hosted mineralization. This suggests that at Boundary West there is great expansion potential at depth, where even higher grades may be anticipated. A very successful 2021 drill program is now wrapped up after hitting mineralization in each of the ten holes drilled at Boundary Zone and we eagerly await the assay results from the remaining holes."

Chairman John Robins added "The discovery of yet another high-grade zone this summer further reinforces my belief that Fireweed's Macmillan Pass project is one of the most exciting exploration projects I have ever been involved with."

Boundary Zone Drilling

At Boundary West (Map 1, Map 2) diamond drill hole NB21-002 cut a complete intersection of newly discovered laminated, stratiform zone of zinc-lead-silver mineralization grading 9.91% zinc, 1.64% lead, and 39.6 g/t silver over 32.99 m including a very high-grade zone of 23.77% zinc, 3.44% lead, and 75.7 g/t silver over 10.42 m (Table 1, Cross Section 1). This new zone was partially intersected in NB21-001, where the upper portion was truncated by a fault (as reported in Fireweed news release dated 17 th August 2021). In NB21-002, the new zone comprises finely laminated sphalerite-galena-pyrite hosted by laminated and silicified mudstone. The sphalerite is tan to pink in colour and combined with the presence of abundant fine-grained galena, suggests that the mineralization is proximal to a feeder structure. The style of the mineralization is similar to that encountered adjacent to, but not directly overlying, the feeder structures at Tom and Jason. If similar characteristics are encountered at Boundary West, there is potential to expand mineralization to depth along the interpreted vector to the feeder structure, where red to brown sphalerite, even higher grades, and massive sulphides may occur.

A zone of massive to semi-massive sulphides was encountered in NB21-002, stratigraphically below the newly discovered zone of laminated stratiform sulphides (Cross Section 1). The massive to semi-massive sulphides graded 8.22% zinc, 0.71% lead, and 53.6 g/t silver over 60.68 m, including a higher-grade massive sulphide intersection of 10.34% zinc, 0.94% lead, and 66.7 g/t silver over 40.08 m (Table 1). The massive sulphide comprises massive pyrite-sphalerite-galena, and the intersection in NB21-002 contained higher zinc grades due to a greater abundance of sphalerite than the intersections up-dip in holes NB21-001 and NB20-004, suggesting that the system is better mineralized with depth where it is open for expansion. This is supported by higher copper concentrations in the massive sulphides with depth, averaging 582 ppm copper (316.39-356.47 m) in NB21-002, compared to low-hundreds of ppm copper in NB21-001 and NB20-004, considered to be geochemically anomalous and indicating closer proximity to the feeder with depth. Very high bulk densities were noted in the massive sulphides.

Table 1: NB21-002 drill hole results

Drill Hole From
(m)
To (m) Intersected
width (m)
1
Zinc
(%)
Lead
(%)
Silver
(g/t)
Bulk
Density
(t/m
3 )
Mineralization
Style
NB21-002 87.10 127.34 40.24 4.57 0.02 7.9 2.87 Vein hosted





>including 87.10 100.50 13.40 9.99 0.06 17.4 3.03
>>including 88.21 91.57 3.36 22.20 0.11 28.4 3.39
>including 112.50 127.34 14.84 2.39 0.01 3.6 2.83
NB21-002 175.01 208.00 32.99 9.91 1.64 39.6 3.08 Laminated stratiform





>including 175.01 185.43 10.42 23.77 3.44 75.7 3.57
>>including 179.00 183.58 4.58 36.14 5.25 100.7 3.70
>including 190.00 202.24 12.24 2.99 1.05 29.7 2.89
NB21-002 316.39 377.07 60.68 8.22 0.71 53.6 3.86 Massive to semi-massive sulphides





>including 316.39 356.47 40.08 10.36 0.94 66.7 4.15
>>including 335.21 342.21 7.00 13.77 1.28 96.0 4.43
>>>including 335.21 337.30 2.09 18.72 2.69 136.1 4.53
NB21-002 403.40 410.91 7.51 1.25 0.05 4.6 3.34 Laminated stratiform

1 True widths of stratiform, laminated mineralization, and semi-massive or massive sulphide mineralization are estimated to be approximately 30 to 50% of intersected widths. Vein-hosted mineralization is interpreted to be a stockwork style, similar to Boundary Main, with an undetermined true thickness.

A zone of vein-hosted zinc mineralization intersected at shallow depths (75 to 100 m vertically from surface) graded 4.57% zinc, 0.02% lead, and 7.9 g/t silver over 40.24 m including an intersection of 9.99% zinc, 0.06% lead, and 17.4 g/t silver over 13.40 m. The vein-hosted mineralization comprises pyrite-sphalerite veins cutting chert pebble conglomerate accompanied by flooding of the conglomerate matrix by siderite and minor replacement of the clasts and matrix by sphalerite with minor galena.

Drilling and Exploration Update

The drilling portion of the Macmillan Pass 2021 field program has been completed for a total of 3,850 m in 13 holes. Mineralization has been intersected in every hole at Boundary Zone and Boundary West, including wide massive sulphide zones in holes NB21-002, NB21-003 and NB21-004 (Table 2). Hole NB21-005 was successful in extending zinc mineralization to depth at Boundary Zone. Holes NB21-006, NB21-007, NB21-008, NB21-009, and NB21-010 all intersected zinc mineralization at Boundary West, further defining and expanding the exploration target. Mineralization was also intersected in a hole completed at Tom East, TS21-001 (Map 3). Collar details are provided in Table 3. Assays are pending for all holes apart from NB21-001 (reported in Fireweed news release dated 17 th August 2021) and NB21-002 (reported in this release).

The soil sampling grid over the Kobuk gravity anomaly has been completed, in addition to a small follow-up detailed grid over an area of anomalous lead-in-soil just north of End Zone.

Notes on sampling, assaying, and data aggregation:

The diamond drill core logging and sampling program was carried out under a rigorous quality assurance / quality control program using industry best practices. Drill intersections in this release are all HQ3 (split tube) size core (61.1mm / 2.4-inch diameter) with recoveries typically above 85%. After drilling, core was logged for geology, structure, and geotechnical characteristics, then marked for sampling and photographed on site. The cores for analyses were marked for sampling based on geological intervals with individual samples 1.5 m or less in length. Drill core was cut lengthwise in half with a core saw; half-core was sent for assays reported in this news release, and the other half is stored on site for reference. Bulk density was determined on site for the entire length of each sample assayed by measurement of mass in air and mass in water. Sample duplicate bulk density determinations and in-house bulk density standard determinations were each made at a rate of 5%. Since 2017, four in-house bulk density standards (mineralized drill core from the Tom deposit that span a range of densities) have been used and show an acceptable long-term precision. Certified standard masses are used to calibrate the scale balance used for bulk density determinations.

A total of 5% assay standards or blanks and 5% core duplicates are included in the sample stream as a quality control measure and are reviewed after analyses are received. Standards and blanks in 2021 drill results to date have been approved as acceptable. Duplicate data add to the long-term estimates of precision for assay data on the project and precision for drill results reported is deemed to be within acceptable levels. Samples were sent to the Bureau Veritas preparation laboratory in Whitehorse, Yukon, where the samples were crushed and a 500 g split was sent to the Bureau Veritas laboratory in Vancouver, B.C to be pulverized to 85% passing 200 mesh size pulps. Clean crush material was passed through the crusher and clean silica was pulverized between each sample. The pulps were analyzed by 1:1:1 Aqua Regia digestion followed by Inductively Coupled Plasma Mass Spectrometry (ICP-ES/ICP-MS) multi-element analyses (BV Code AQ270). All samples were also analyzed for multiple elements by lithium borate fusion and X-ray fluorescence analysis (XRF) finish (BV Code LF725). Over-limit Pb (>25.0%) and Zn (>24.0%) were analyzed by lithium borate fusion with XRF finish (BV Code LF726). Silver is reported in this news release by method AQ270, and zinc and lead are reported by LF725 or LF726. Bureau Veritas (Vancouver) is an independent, international ISO/IEC 17025:2005 accredited laboratory.

Results in this news release are length and bulk-density weighted averages as would be used in a Mineral Resource estimate. Readers are cautioned that in Fireweed news releases prior to 2020, only length weighted assay averages were reported which may result in slightly lower (under-reported) average values. Length and bulk-density weighted averages have been reported as these most accurately represent the average metal-content of the intersections.

Qualified Person Statement

Technical information in this news release has been approved by Jack Milton, P.Geo., Ph.D., Chief Geologist and a ‘Qualified Person' as defined under Canadian National Instrument 43101.

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

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

ON BEHALF OF Fireweed Zinc LTD.

" Brandon Macdonald "

CEO & Director

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Statements

This news release may contain "forward-looking" statements and information relating to the Company and the Macmillan Pass Project that are based on the beliefs of Company management, as well as assumptions made by and information currently available to Company management. Such statements reflect the current risks, uncertainties and assumptions related to certain factors including but not limited to, without limitations, exploration and development risks, expenditure and financing requirements, general economic conditions, changes in financial markets, pandemics, the ability to properly and efficiently staff the Company's operations, the sufficiency of working capital and funding for continued operations, title matters, First Nations relations, operating hazards, political and economic factors, competitive factors, metal prices, relationships with vendors and strategic partners, governmental regulations and oversight, permitting, seasonality and weather, technological change, industry practices, and one-time events. Additional risks are set out in the Company's prospectus dated May 9, 2017, and filed under the Company's profile on SEDAR at www.sedar.com . Should any one or more risks or uncertainties materialize or change, or should any underlying assumptions prove incorrect, actual results and forward-looking statements may vary materially from those described herein. The Company does not undertake to update forward‐looking statements or forward‐looking information, except as required by law.

Map 1: Location of Macmillan Pass deposits and exploration targets is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/1e789805-d7e6-438d-9cc6-3605d25e7e5d

Map 2: Boundary Zone 2021 drilling and location of cross section B-B' is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/9e762b98-ddbc-4c1d-b7cb-6242803a2182

Cross Section 1: Boundary West geology and assay results is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/0c5a8a3d-be4d-4d9b-99d4-271acf008eed

Map 3: Tom East 2021 drilling is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/b0a9faf0-83b1-407b-823e-cd6ca60d3ab9

Table 2: 2021 drill hole results and observations.

Drill Hole Length (m) Zone Target Results and Observations
NB21-001 277.0 Boundary West BZW down-dip extension Assay results reported 17 th August 2021.
NB21-002 439.0 Boundary West BZW down-dip extension Results reported in this release.
NB21-003 189.0 Boundary West BZW step-out to west Wide zone encountered. Assays pending.
NB21-004 382.7 Boundary West BZW step-out to west Wide zone encountered. Assays pending.
TS21-001 402.7 Tom East Tom East infill Wide zone encountered. Assays pending.
TS21-002 46.0 Tom East Tom East step-out Hole ended early due to drilling problems and redrilled as TS21-003.
TS21-003 401.5 Tom East Tom East step-out No mineralization encountered.
NB21-005 481.7 Boundary Main BZ down-dip extension Wide zone encountered. Assays pending.
NB21-006 157.2 Boundary West BZW step-out to east Narrow zone encountered. Assays pending.
NB21-007 106.7 Boundary West BZW step-out to east Narrow zone encountered. Assays pending.
NB21-008 325.8 Boundary West BZW step-out to east Wide zone encountered. Assays pending.
NB21-009 445.6 Boundary West BZW down-dip extension Wide zone encountered. Assays pending.
NB21-010 190.5 Boundary Main BZ step-out to west Moderate zone encountered. Assays pending.

Table 3: 2021 drill collar details

Drill Hole Length (m) Zone Easting* Northing* Elevation (m) Dip (°) Grid Azimuth (°)
NB21-001 277.0 Boundary West 422052 7010614 1217 -65 211
NB21-002 439.0 Boundary West 422053 7010614 1218 -75 212
NB21-003 189.0 Boundary West 421932 7010644 1226 -50 204
NB21-004 382.7 Boundary West 421932 7010644 1226 -75 204
TS21-001 402.7 Tom East 442064 7004322 1679 -82 060
TS21-002 46.0 Tom East 442197 7004428 1688 -89 236
TS21-003 401.5 Tom East 442197 7004431 1688 -89 236
NB21-005 481.7 Boundary Main 422397 7010550 1203 -75 211
NB21-006 157.2 Boundary West 422093 7010516 1189 -50 211
NB21-007 106.7 Boundary West 422094 7010518 1189 -70 211
NB21-008 325.8 Boundary West 422094 7010518 1189 -75 211
NB21-009 445.6 Boundary West 422128 7010632 1223 -68 211
NB21-010 190.5 Boundary Main 422199 7010400 1159 -75 211

*UTM Zone 9 NAD83. Final RTK GPS surveyed.

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


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Developing a world-class critical minerals district in Yukon, Canada

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

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

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

Highlights:

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

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

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

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

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

Ballywire Drill Update

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

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

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

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

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

 

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

Notes to Exhibit 4: (a) Pallas Green MRE is owned by Glencore (see Glencore's Resources and Reserves Report dated December 31, 2024); (b) Stonepark MRE: see the 'NI 43-101 Independent Report on the Zinc-Lead Exploration Project at Stonepark, County Limerick, Ireland', by Gordon, Kelly and van Lente, with an effective date of April 26, 2018, as found on SEDAR; and (c) the historic estimate at Denison was reported by Westland Exploration Limited in 'Report on Prospecting Licence 464' by Dermot Hughes dated May, 1988; the historic estimate at Gortdrum was reported in 'The Geology and Genesis of the Gortdrum Cu-Ag-Hg Orebody' by G.M. Steed dated 1986; and the historic estimate at Tullacondra was first reported by Munster Base Metals Ltd in 'Report on Mallow Property' by David Wilbur, dated December 1973; and later summarized in 'Cu-Ag Mineralization at Tullacondra, Mallow, Co. Cork' by Wilbur and Carter in 1986; the above three historic estimates have not been verified as current mineral resources; none of the key assumptions, parameters and methods used to prepare the historic estimates were reported and no resource categories were used; significant data compilation, re-drilling and data verification may be required by a Qualified Person before the historic estimates can be verified and upgraded to be compliant with current NI 43-101 standards; a Qualified Person has not done sufficient work to classify them as a current mineral resource and the Company is not treating the historic estimates as current mineral resources. 'Rathdowney Trend' is the south-westerly projection of the Rathdowney Trend, hosting the historic Lisheen and Galmoy mines.

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Exhibit 4. Regional Map of Ballywire Discovery

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Qualified Person

Technical information in this news release has been approved by Professor Garth Earls, Eur Geol, P.Geo, FSEG, geological consultant at IGS (International Geoscience Services) Limited, and independent 'Qualified Person' as defined under Canadian National Instrument 43-101.

Sampling and Analytical Procedures

All core drilled at Ballywire is NQ (47.6mm) and is cut using a rock saw. Sample intervals vary between 0.55m to 1.32m with an average (over 188 samples) of 0.92m. The half-core samples are bagged, labelled and sealed at Group Eleven's core store facility in Limerick, Ireland. Selected sample bags are examined by the Qualified Person. Transport is via an accredited courier service and/or by Group Eleven staff to ALS Laboratories in Loughrea Co. Galway, Ireland. Sample preparation at the ALS facility comprises fine crushing 70%

Quality Assurance/Quality Control (QA/QC) Information

Group Eleven inserts certified reference materials ("CRMs" or "Standards") as well as blank material, to its sample stream as part of its industry-standard QA/QC programme. The QC results have been reviewed by the Qualified Person, who is satisfied that all the results are within acceptable parameters. The Qualified Person has validated the sampling and chain of custody protocols used by Group Eleven.

About Group Eleven Resources

Group Eleven Resources Corp. (TSX.V: ZNG; OTCQB: GRLVF and FRA: 3GE) is drilling the most significant mineral discovery in the Republic of Ireland in over a decade. The Company announced the Ballywire discovery in September 2022, demonstrating high grades of zinc, lead, silver, copper, germanium and locally, antimony. Key intercepts to date include:

  • 10.8m of 10.0% Zn+Pb and 109 g/t Ag (G11-468-03)
  • 10.1m of 8.6% Zn+Pb and 46 g/t Ag (G11-468-06)
  • 10.5m of 14.7% Zn+Pb, 399 g/t Ag and 0.31% Cu (G11-468-12)
  • 11.2m of 8.9% Zn+Pb and 83 g/t Ag (G11-3552-03)
  • 29.6m of 10.6% Zn+Pb, 78 g/t Ag and 0.15% Cu (G11-3552-12) and
  • 11.8m of 11.6% Zn+Pb, 48 g/t Ag (G11-3552-18)
  • 15.6m of 11.6% Zn+Pb, 122 g/t Ag and 0.19% Cu (G11-3552-27)
  • 12.0m of 1.4% Zn+Pb, 560 g/t Ag, 2.30% Cu and 0.17% Sb (25-3552-31), including
  • 6.4m of 2.1% Zn+Pb, 838 g/t Ag, 3.72% Cu and 0.27% Sb (25-3552-31)
  • 39.7m of 9.5% Zn+Pb, 131 g/t Ag and 0.27% Cu (25-3552-35)

Ballywire is located 20km from Company's 77.64%-owned Stonepark zinc-lead deposit1, which itself is located adjacent to Glencore's Pallas Green zinc-lead deposit2. The Company's two largest shareholders are Michael Gentile (15.3%) and Glencore Canada Corp. (15.2% interest). Additional information about the Company is available at www.groupelevenresources.com.

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

E: b.jaworski@groupelevenresources.com | T: +353-85-833-2463
E: j.webb@groupelevenresources.com | T: 604-644-9514

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Note Regarding Forward-Looking Information

Technical and scientific information disclosed from neighbouring properties does not necessarily apply to the current project or property being disclosed. This press release contains forward-looking statements within the meaning of applicable securities legislation. Such statements include, without limitation, statements regarding the future results of operations, performance and achievements of the Company, including the timing, content, cost and results of proposed work programs, the discovery and delineation of mineral deposits/resources/ reserves and geological interpretations. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions, or are those, which, by their nature, refer to future events. The Company cautions investors that any forward-looking statements by the Company are not guarantees of future results or performance, and that actual results may differ materially from those in forward looking statements as a result of various factors, including, but not limited to, variations in the nature, quality and quantity of any mineral deposits that may be located. All of the Company's public disclosure filings may be accessed via www.sedarplus.ca and readers are urged to review these materials, including the technical reports filed with respect to the Company's mineral properties.

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