Platinex Inc. Announces Acquisition of Ontario Gold Assets, Shining Tree Joint Venture with Fancamp and $2.5M Equity Financing

Platinex Inc. (" Platinex " or the " Company ") (CSE:PTX) is pleased to announce that it has entered into a binding heads of agreement dated February 6, 2023 with Fancamp Exploration Ltd. (" Fancamp ") (TSXV: FNC) with respect to advancing the exploration and development of certain gold mineral properties owned by the parties located in Ontario in the Timmins mining camp (the " Transaction ") (see attached map). The Transaction includes several components, pursuant to which (i) Platinex and Fancamp will transfer certain mining properties which they currently hold to South Timmins Mining Inc. (" Goldco "), currently a 100% wholly owned subsidiary of Platinex; (ii) enter into a shareholders' agreement respecting the operations of Goldco; (iii) Platinex will conduct a non-brokered private placement of flow- through units; and (iv) Platinex will conduct a private placement of non-flow-through units, of which Fancamp will subscribe for 9.5% of the issued and outstanding shares of Platinex, all as more particularly described below.

Greg Ferron, President, and Chief Executive Officer of Platinex, said, "The Transaction achieves a number of goals for Platinex. It creates a stronger gold-focused growth vehicle in a world class Ontario gold camp and brings in a strong joint venture partner, Fancamp with access to capital and technical expertise, allowing us to accelerate exploration at Shining Tree Gold Project. The newly acquired Heenan Mallard Gold project which borders IAMGOLD's Côté Gold Project, and the Shining Tree Gold Property are expected to be the first projects to be drilled. The Transaction provides a clear strategy for the enhanced gold portfolio while retaining a 100% ownership of our high-quality W2 Ni-Cu project and the recently acquired Muskrat Dam Critical Minerals Project."

Subject to any regulatory approvals or filings, the Transaction is expected to close on or about February 24, 2023 (the " Closing Date "), or on such other date and time as is mutually agreed to between Platinex and Fancamp.

Details of the Transaction

Property Transfers

Platinex will transfer its district scale Shining Tree gold mineral project located in the Shining Tree District of Ontario, consisting of 1,136 unpatented mining claims and one mining lease (the " Shining Tree Properties ") to Goldco in consideration for receiving 75% of the issued and outstanding shares of Goldco Fancamp will transfer to Goldco (i) its Heenan Mallard gold properties located in the Swayze Greenstone gold belt adjacent to Côté Gold Deposit in Northern Ontario, consisting of 296 unpatented mining claims (the " Swayze Properties "); and (ii) its Dorothy Gold project located adjacent to Dynasty Gold's Thundercloud Project in NW Ontario (the " Dorothy Properties "), in consideration for receiving 25% of the issued and outstanding shares of Goldco. Fancamp will have an option to increase its shareholding to 50% on the basis described below.

Fancamp will be granted a 1.0% net smelter returns royalty (the " NSR Royalty ") in respect of the Swayze Properties and the Dorothy Properties, subject to a decrease to 0.5% NSR Royalty should Fancamp elect to exercise the Option (as described below) to acquire 50% of the issued and outstanding shares of Goldco.

Goldco Operations and Shareholders' Agreement

Platinex and Fancamp will enter into a shareholders' agreement with respect to their ownership interests in Goldco (the " Shareholders' Agreement ")
The board of Goldco will consist of three directors in respect of which Platinex will have the right to appoint two directors and Fancamp the right to appoint one director
Platinex will be the initial operator (the " Operator ") in respect of the mining activities to be conducted by Goldco
A management/technical committee (the " Technical Committee ") of Goldco will be created in respect of which Platinex will have the right to appoint two members and Fancamp the right to appoint one member
Goldco will engage in an initial exploration program of C$1.1million (the " Initial Exploration Program ") to be funded by the Platinex Financings (as described below) and an additional sum of $130,000 to be advanced to Goldco by Fancamp. Platinex shall contribute a minimum of $940,000 to Goldco in respect of Goldco's operation.
Within 60 days from the completion of the Initial Exploration Program, Platinex as Operator shall prepare an exploration program (the " Phase II Exploration Program ") to be approved by all of the members of the Technical Committee and the board of Goldco
Fancamp will have the right and option (the " Option ") to increase its ownership interest in Goldco to own up to 50%, which may be exercised over a two-year period commencing on the date of approval of a Phase II Exploration Program by making staged cash payments to Goldco in the aggregate amount of C$1,500,000 to be used for exploration activities of Goldco
If Fancamp exercises the Option in full and acquires 50% of the issued and outstanding shares in Goldco, Fancamp will assume the role of Operator of Goldco

In addition, on the Closing Date, Fancamp shall have the right to nominate one director to the board of directors of Platinex, which right shall remain subject to Fancamp holding not less than 7.5% of the issued and outstanding shares of Platinex, calculated on a non-diluted basis.

Platinex Financings

Platinex will conduct a non-brokered private placement raising up to $1,500,000 of units (" Units ") at a price of $0.04 per Unit (the " Non FT Offering ") of which Fancamp will subscribe Units, representing approximately 9.5% of the issued and outstanding shares of Platinex. Platinex will also conduct a non-brokered private placement of flow-through units for an additional $1,000,000 (the " FT Offering ") at a price of $0.045 per FT Unit (the " FT Units ").

Each Unit shall be comprised of one common share of the Company and one half of one common share purchase warrant, with each whole warrant exercisable into one common share of the Company at a price of $0.055 at any time on or before the date which is 60 months from the closing of the Non-FT Offering.

Each FT Unit will be comprised of one common share of the Company to be issued as a "flow- through share" within the meaning of the Income Tax Act (Canada) (each, a " FT Share ") and one half of one common share purchase warrant (each whole such warrant, a " Warrant "). Each Warrant shall be exercisable into one non-flow-through common share of the Company at a price of $0.055 per share at any time on or before the date which is 60 months after the closing date of the FT Offering. The Warrants will be subject to an acceleration clause requiring the exercise of the Warrants if the Platinex share price closes on the Canadian Securities Exchange at $0.15 or greater for 20 consecutive trading days.

The gross proceeds of the FT Offering will be used by Platinex to incur eligible "Canadian exploration expenses" that will qualify as "flow-through mining expenditures" as such terms are defined in the Income Tax Act (Canada) (the " Qualifying Expenditures ") related to the gold projects including the Shining Tree Properties and Swayze Properties on or before December 31, 2024. All Qualifying Expenditures will be renounced in favour of the subscribers effective December 31, 2023.

The FT Offering and Non-FT Offering are subject to receipt of all necessary regulatory approvals including the Canadian Securities Exchange. The shares and warrants comprising the FT Units, and the Non FT Units will be subject to a hold period of four months and one day in accordance with applicable securities laws.

The Company may pay finders fees on subscriptions.

Heenan Mallard and Dorothy Project Overview

Heenan Mallard is located on the Ridout Deformation Zone bordering Iamgold's Côté Gold claim package and is approximately 25 km west of the soon to be producing Côté Gold mine (see map).

Historical drilling completed by Noranda (Corstorphine 1985, Assessment File 41009NW003 63.5188) on Mallard's River and Camp zones led to an initial discovery (14 holes only) and it is Goldco's intention to drill follow up on those results.

The property is located on a large magnetic anomaly associated with the Woman Lake Iron formation and other magnetic lithologies on the SE corner of the Swayze greenstone belt. The "Swayze magnetic anomaly" shows signs of hydrothermal alteration, which, combined with the associated gold mineralization at Heenan Mallard, makes the property a very attractive gold target.

Drilling returned several high-grade near-surface intercepts, including 5.04 g/t Au over 3.69 m core length (BE-85-1), 5.31 g/t Au over 3.82 m core length (BE-85-6), 3.50 g/t Au over 2.80 m core length and 6.62 g/t Au over 1.82 m core length (BE-85-3).

Prospecting, geological mapping, soil sampling, and geophysical surveys carried out by Fancamp at Heenan Mallard in 2019-2020 have generated multiple targets in other sections of the project. Of these, the two most highest priority gold targets identified currently for follow up drilling are an undrilled gold showing at Heenan that is coincident with an IP anomaly and an undrilled zone along the Ridout shear at Mallard with a coincident soil and IP anomalies.

There are other gold zones on the property, including an area previously drilled by Fancamp to be revisited since it has returned anomalous gold values up to 6.32 g/t hosted by strongly altered metasedimentary rocks (Ciesielski 2021, Assessment File 20000019548). This area presents a broad zone of strong pervasive silicification and quartz veining.

Dorothy Project:

The Dorothy property is a grassroots project that was staked to cover four anomalous lake sediment anomalies reported in 2006 OGS's high-density Lake sediment survey. The property appears to be situated on a parallel geological structure 15 km east of the Manitou Straits deformation zone's, which hosts the historical Gold Rock Mining Camp and borders Dynasty's Thundercloud gold discovery.

*Gold values and core lengths are converted from imperial unit troy ounce/t and core lengths in feet to metric units g/t and metre, respectively.

Advisors

The Company engaged Canaccord Genuity to assist as an advisory of the transaction and the Offering.

Other Transaction details:

Fancamp will be granted anti-dilution rights to participate in future Platinex equity financings to purchase up to its proportionate share of such Shares for terms at least as favorable to Fancamp as to price and upon the terms provided to other subscribers in such financings
In addition, Fancamp has agreed to vote for management or withhold from voting while the Option is effective
Fancamp is also restricted from acquiring more than 9.5% of the issued and outstanding shares of Platinex (excluding the exercise of warrants held by Fancamp)

The technical information presented in this news release has been reviewed and approved by Ike Osmani, P. Geo, a qualified person for Platinex, as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects.

About Platinex Inc.

Platinex Inc. creates shareholder value through the opportunistic acquisition and advancement of high-quality projects in prolific Ontario mining camps. The Company is at the exploration and evaluation stage and is engaged in the acquisition, exploration and development of properties for the mining of precious and base metals. Current assets include a 100% ownership interest in the W2 Copper-Nickel-PGE Project and a 100% interest in the 225 sq. km Shining Tree Gold Project in the Abitibi region of Ontario, a world-renowned gold district. Both projects are district scale. The W2 Project controls one of the major Oxford Stull Dome complexes including the Lansdowne House Igneous Complex. Shining Tree Project covers over 21 km of the Ridout-Tyrrell deformation zone that trends as far west as Newmont's Borden Mine, through the area of IAMGOLD's Cote Gold deposit, and across Aris Gold's Juby Project. The Company is also developing a net smelter return royalty portfolio and current holds royalties on gold, PGE, and base metal properties in Ontario.

For additional information on Platinex and other corporate information, please visit the Company's website at https://Platinex.com/ .

For further information, please contact:

Greg Ferron, President, and Chief Executive Officer

Phone: 416-270-5042

Email: gferron@Platinex.com

Forward-Looking Information

This news release contains forward-looking information which is not comprised of historical facts. Forward-looking information is characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, and opportunities to differ materially from those expressed or implied by such forward-looking information. All statements regarding the completion of the Transaction with Fancamp, including the transfer of properties to South Timmins Mining Inc. ("Goldco"), the cash payment by Fancamp to Goldco, the entering into the Shareholders' Agreement, the completion of the FT Offering and the Non FT Offering, and future expectations regarding the advancement and development of the mining properties by Goldco are examples of forward-looking information. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, changes in the state of equity and debt markets, fluctuations in commodity prices, delays in obtaining required regulatory or governmental approvals, and includes those risks set out in the Company's management's discussion and analysis as filed under the Company's profile at www.sedar.com . Forward-looking information in this news release is based on the opinions and assumptions of management considered reasonable as of the date hereof, including that all necessary governmental and regulatory approvals will be received as and when expected. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information. The Company disclaims any intention or obligation to update or revise any forward-looking information, other than as required by applicable securities laws.

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

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/3ae129a4-2f18-42fc-bb8f-b5eee582691e

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Platinex Launches Exploration Programs for the South Timmins Mining Joint Venture

Platinex Inc. (CSE: PTX) (OTCQB: PANXF, Frankfurt: 9PX) (" Platinex " or the " Company ") is pleased to announce exploration progress and plans for its South Timmins Mining Joint Venture ("South Timmins Mining" or "Joint Venture") properties. The South Timmins Mining properties include the Shining Tree, Heenan, and Mallard gold projects, all of which lie along the Ridout-Tyrrell Deformation Zone ("RTDZ") in the Abitibi Subprovince, one of the most gold enriched geologic regions in the world. IAMGOLDSumitomo's Côté Gold project, Aris Mining's Juby deposit, and numerous other small-scale historic gold producers fall within or are proximal to the RTDZ (see project location map, Figure 1).

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Platinex Common Shares Commenced Trading on the OTCQB Venture Market in the United States Under the Symbol "PANXF"

Platinex Inc. (CSE: PTX) (OTCQB: PANXF, Frankfurt: 9PX) (" Platinex " or the " Company ") is pleased to announce that the Company's common shares have begun trading on the OTCQB Venture Market (" OTCQB ") in the United States under the symbol " PANXF ". The Company's common shares will continue to trade on the Canadian Securities Exchange under the symbol PTX and on the Frankfurt Stock Exchange under the symbol 9PX.

The OTCQB listing offers convenience and accessibility for investors based in the United States and internationally while providing increased visibility and exposure to the Company. The OTCQB is operated by the OTC Markets Group, an American financial market, headquartered in New York City provides price and liquidity information for almost 10,000 over-the-counter securities. OTCQB listed companies reporting requirements undergo an annual verification and management certification process.

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Fancamp Reports on Shining Tree Gold Property Exploration Program Joint Venture with Platinex

Fancamp Exploration Ltd. (" Fancamp " or the " Corporation ") (TSX Venture Exchange: FNC ) is pleased to share the recent program updates and announcement made by Platinex Inc. (CSE:PTX) ("Platinex") with regards to the Shining Tree Gold Property, in which the Corporation holds a 25% interest through South Timmins Mining Inc. ("Goldco"), a joint venture with Platinex Inc. ( refer to news release dated March 14, 2023 ). GoldCo's Shining Tree Gold Property is strategically located in the South-West region of the Abitibi Greenstone Belt, the world's largest 2.7-billion-year-old mineral-rich greenstone geological belt, which hosts numerous major gold and base metal deposits, and predominant gold producers ( refer to Figure 1 ).

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Platinex Reports Positive Geochemical Sampling Results and Commences Exploration Program at Shining Tree Gold Property

Platinex Inc. (CSE:PTX) (OTC: PANXF, Frankfurt: 9PX) (" Platinex " or the " Company ") is pleased to provide an update on its Shining Tree Gold Property in which the Company holds a 75% interest through the South Timmins Mining joint venture ("South Timmins") with Fancamp Exploration Ltd. (see news release dated March 15, 2023). South Timmins holds a 100% interest in the Shining Tree Gold Property which borders Aris Gold's Juby Property as well as a 100% interest in the Heenan Mallard Gold Project which borders IAMGOLD's Côté Gold Project.

At Shining Tree, the joint venture is working to identify new gold targets in several highly prospective and underexplored areas of the 225 km ² land package including along the Ridout-Tyrrell Deformation Zone (RTDZ) while continuing more focused exploration efforts in the central area of the project to support additional drilling at the Herrick deposit, Caswell prospect, and historic Ronda Mine (see attached map).

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Questcorp Mining Announces Private Placement

Questcorp Mining Inc. (CSE: QQQ) (the "Company" or "Questcorp") is pleased to announce that it intends to complete a non-brokered private placement offering (the "Offering") of up to 33,000,000 units (each, a "Unit") at a price of $0.06 per Unit for gross proceeds of $1,980,000. Each Unit will consist of one common share of the Company and one common share purchase warrant entitling the holder to acquire a further common share of the Company at a price of $0.10 per share for a period of two years.

The net proceeds of the Offering will be used by the Company to complete the acquisition of the La Union Project from Riverside Resources Inc., (see news release dated September 6, 2024), to continue a small exploration program at its North Island Copper Property, to retire existing payables and for general working capital purposes. Finders' fees or commissions may be paid in connection with the completion of the Offering, and all securities issued in the Offering will be subject to a four-month-and-one-day statutory hold period.

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Group Eleven Intersects 15.6m of 11.6% Zn+Pb, 122 g/t Ag and 0.19% Cu, incl. 3.5m of 21.3% Zn+Pb, 395 g/t Ag and 0.73% Cu at Ballywire; Silver and Copper Values Continue to Impress

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

Highlights:

G11-3552-27 intersected (from 213.0m):
- 24.8m of 8.1% Zn+Pb (5.8% Zn and 2.3% Pb), 80 g/t Ag and 0.12% Cu, including
- 15.6m of 11.6% Zn+Pb (8.3% Zn and 3.3% Pb), 122 g/t Ag and 0.19% Cu, including
- 6.6m of 16.7% Zn+Pb (11.1% Zn and 5.7% Pb), 240 g/t Ag and 0.42% Cu, including
- 3.5m of 21.3% Zn+Pb (13.3% Zn and 8.0% Pb), 395 g/t Ag and 0.73% Cu
- Located in middle of 270m gap between two previously released drill fences
G11-3552-25 intersected (from 187.2m):
- 16.2m of 2.8% Zn+Pb (2.1% Zn and 0.7% Pb) and 8 g/t Ag, including
- 4.6m of 7.4% Zn+Pb (5.6% Zn and 1.8% Pb) and 21 g/t Ag, including
- 1.9m of 12.9% Zn+Pb (9.6% Zn and 3.3% Pb) and 39 g/t Ag
- Located 50m NNW from G11-3552-27
Above results confirm the extent of the recently announced flat-lying zone of zinc-rich massive sulphide lenses at least 360m along strike and remaining open to the NE
Massive sulphide zone is pierced by G11-3552-27 and seven previously released holes, of which three are referenced below:
- G11-3552-12: 29.6m of 10.6% Zn+Pb and 78 g/t Ag (released 11-Jun-24)
- G11-3552-18: 11.8m of 11.6% Zn+Pb and 48 g/t Ag (released 22-Oct-24)
- G11-3552-19: 15.3m of 14.5% Zn+Pb and 56 g/t Ag (released 14-Nov-24)
Drilling continues at Ballywire with two rigs testing further down-dip of the two holes released today, plus the NE extension; assay results are expected in due course

"It is great to see the NE massive sulphide zone now consistently intersected by eight high-grade holes over a strike length of 360m and open to the NE," stated Bart Jaworski, CEO. "Excellent silver and significant copper values are also noteworthy because they increasingly point to a stratigraphically deeper horizon known to be highly prospective for copper and silver in this part of Ireland. Namely, the Gortdrum Cu-Ag mine, active in the 1960s and 70s, is located 10km NE of Ballywire, whereas, the Denison and Tullacondra Cu-Ag historic occurrences are 5km SE and 45km SW of Ballywire, respectively. A deeper Cu-Ag horizon at Ballywire is one of our key targets for 2025.

Our two other key targets include: (i) exploration drilling along strike from the drilled 2.6km-long discovery area towards the encompassing 6km long prospective trend and (ii) up and down dip from the discovery trend in search of parallel zones of mineralization. We eagerly await results from drilling down dip of today's results and along the NE extension."

Exhibit 1. Cross-Section A-A' of G11-3552-25, -27 (Filling In 270m Gap Between Fences) at Ballywire

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5685/239839_figure1.png

Exhibit 2. Plan Map Showing Key New Drilling (G11-3552-25, -27) at Ballywire

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https://images.newsfilecorp.com/files/5685/239839_figure2.png

Exhibit 3. Emerging Massive Sulphide Zone and Upcoming Drill Results at Ballywire

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5685/239839_5ca5f11594e49b67_004full.jpg

Recent Holes from Ballywire Discovery

The Ballywire prospect at the Company's 100%-owned PG West Project in Republic of Ireland, is a relatively new zinc-lead-silver discovery (first announced Sept-2022). In addition to 42 holes drilled and reported by Group Eleven to date, the most recent two holes (G11-3552-25 to -27) are reported today (see Exhibits 1 to 6). Note, a second batch of assays totalling over 50m within G11-3552-27 is still pending.

High-grade mineralization from G11-3552-25 and -27 consists predominantly of massive and semi-massive sulphide (sphalerite, galena, pyrite, chalcopyrite and suspected tennantite-tetrahedrite), as well as, disseminated and vein hosted sulphide mineralization. Mineralization occurs along and/or close to the base of the Waulsortian Limestone (see Exhibit 1).

Exhibit 4. Summary of Assays from G11-3552-25 and -27 at Ballywire

Item	From (m)	To (m)	Int (m)	Zn (%)	Pb (%)	Zn+Pb (%)	Ag (g/t)	Cu (%)
G11-3552-25	187.15	203.35	16.20	2.14	0.69	2.83	8.00	-
Incl.	187.15	195.51	8.36	3.59	1.11	4.70	14.49	-
Incl.	190.87	195.51	4.64	5.59	1.82	7.41	20.97	-
Incl.	192.69	194.60	1.91	9.59	3.32	12.92	39.19	-
G11-3552-27	213.00	237.81	24.81	5.84	2.28	8.11	80.4	0.12
Incl.	219.42	235.06	15.64	8.30	3.28	11.59	122.1	0.19
Incl.	219.42	222.21	2.79	15.57	3.77	19.35	92.79	0.03
And	228.51	235.06	6.55	11.06	5.65	16.71	240.0	0.42
Incl.	230.36	233.90	3.54	13.26	8.01	21.27	395.1	0.73

Note: True width of the overall mineralized package in all holes above is estimated at approx. 90-100% of the intersected interval

Overall, recent drilling suggests the emergence of two distinct styles of mineralization. First, relatively flat-lying zinc-rich massive sulphide lenses and second, 'other high-grade mineralization', dominated by variably dipping massive sulphides, as well as, vein-hosted and disseminated mineralization (see Exhibits 1-3). Both styles occur at or near the base of the Waulsortian Limestone and offer great exploration opportunities as drilling progresses.

Looking forward, seven (7) drill holes (G11-3552-24, -26, -28 and 29 to -32; see Exhibit 3) are in progress with results expected in due course. Exhibit 3 shows drilling to date across 1.25km of the overall 2.6km long trend (see Exhibit 2) of significantly mineralized drill intercepts (open in all directions). This in turn is hosted within a 6km long prospective trend defined by four gravity high anomalies, only one of which (anomaly 'C') is systematically drilled to date (see Exhibit 5).

Exhibit 5. Regional Gravity at Ballywire Showing 6km Long Prospective Trend

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Notes to Exhibit 6: (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.

Exhibit 6. Regional Map of PG West (100% Interest) and Stonepark (77.64% Interest)

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https://images.newsfilecorp.com/files/5685/239839_figure6.png

Note: Two westernmost prospecting licenses were surrendered in December 2024 from the Stonepark Project, reflecting decreasing prospectivity and the Company's preference to focus on core prospects (Ballywire and Carrickittle West)

Consultant

The Company has engaged ProConsul Capital Ltd. ("ProConsul") to provide investment marketing consulting services (the "Services") commencing February 6th, 2025. In consideration for the Services, the Company will pay a fee of C$6,000/month and has agreed to grant stock options to ProConsul, the number and terms of which stock options will be determined at a later date. The agreement is subject to TSX Venture Exchange acceptance and renewable on a month-to-month basis unless terminated by either party on 30 days written notice.

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) and (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
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)

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 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.

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