Group Eleven Intersects 24m of Mineralization, Including 6.3m of 7.9% Zn+Pb and 14 g/t Ag in a 270m Step-Out; Plus Cuts 7.4m of 10.1% Zn+Pb and 36 g/t Ag at Ballywire

Group Eleven Resources Corp. (ZNG) reported assay results from five new drill holes at the Ballywire discovery within its 100%-owned PG West Project in Ireland. The company provided data from holes 26-2654-04, 26-468-26, and 26-3552-58, -59, and -61.

Hole 26-2654-04, located 270 meters as a step-out to the southwest on cross-section A-A', intersected 24.15 meters grading 2.78% Zn+Pb (2.38% Zn, 0.40% Pb) and 5.3 g/t Ag from 433.95 meters. This interval included 6.27 meters of 7.89% Zn+Pb and 13.8 g/t Ag, as well as 0.98 meters of 22.14% Zn+Pb and 27.2 g/t Ag. A separate deeper zone in the same hole returned 10.06 meters of 7.6 g/t Ag and 0.14% Cu from 592.66 meters, including 1.65 meters of 29.5 g/t Ag and 0.70% Cu.

Hole 26-468-26, a gap-fill between fences on cross-section B-B', intersected 31.10 meters grading 3.73% Zn+Pb (2.11% Zn, 1.62% Pb) and 15.2 g/t Ag from 360.60 meters. This included 7.37 meters of 10.09% Zn+Pb and 36.5 g/t Ag, and 0.82 meters of 16.70% Zn+Pb and 48.8 g/t Ag. The hole was abandoned at 421 meters due to bad ground.

Hole 26-3552-61, positioned approximately 120 meters downdip of 26-3552-60 on cross-section C-C', returned 7.74 meters of 28.8 g/t Ag and 0.79% Cu from 644.90 meters, including 1.85 meters of 46.5 g/t Ag and 1.26% Cu.

At the northeast edge, hole 26-3552-58 intersected 4.13 meters of 7.1 g/t Ag and 0.37% Cu from 550.53 meters, along with a broad 42.96 meters of 0.22% Zn+Pb. Hole 26-3552-59, located at the northeast corner in a hypothesized parallel zone, returned 28.73 meters of 0.08% Zn+Pb from 168.93 meters, which was effectively barren, followed by 2.68 meters of 3.4 g/t Ag and 0.08% Cu lower down.

Corporate updates indicated a 17% extension of intercepted higher-grade mineralization, extending the total from 1.60 kilometers to 1.87 kilometers. The total intersected mineralization is now held at 3.2 kilometers. To date, 91 holes have been reported in the system, with 16 new holes added. Additionally, the company settled 38,393 shares at $0.84 for director fees.

Group Eleven Resources Corp. (ZNG) remains a pre-resource explorer at its Ballywire project, holding no NI 43-101 resource, preliminary economic assessment, or metallurgical data. The company reported zero revenue and a C$1.89M quarterly loss as of Q1-2026, with approximately C$18M in cash. This capital supports an 8,000- to 9,000-hole drill programme funded by a C$12M raise in March-2026.

The recent release marginally alters the project’s scale by converting 270m of untested southwest trend into drilled mineralization and filling a 390m gap, though the total 3.2km footprint remains unchanged. Grade-wise, the new holes represent the lowest-grade meaningful zinc-lead result of the recent drilling run. The odds of success appear unchanged, as one barren hole (26-3552-59) weakens the parallel-zone concept.

Market expectations set an immediate anchor in Aug-2026 with an in-line-to-better 17.6m @ 4.1% plus strong deeper copper-silver results. Today’s zinc-lead-silver results are roughly in line with that benchmark, while the deeper copper-silver component is weaker. The stock has round-tripped from C$1.30 in May-2026 to C$0.77, indicating the market is not pricing a repetition of blockbuster holes. The market is still capitalizing approximately C$219M of equity on tomorrow’s resource, a milestone this release does nothing to advance.

The news flow is ordinary and expected, providing constructive tonnage-building but lacking market-moving impact on its own. The market has been trained to expect higher grades and is now waiting for a resource rather than additional drill holes.

Group Eleven Resources Corp. (TSXV: ZNG; OTCQB: GRLVF; FSE: 3GE) is a Vancouver-headquartered explorer focused on zinc, lead, silver, and copper projects in Ireland. The company’s management team includes CEO and geologist Bart Jaworski, COO David Furlong, and CFO Jasmine Lau.

The company’s flagship asset is the Ballywire discovery, located within the 100%-owned PG West Project in the Limerick and Tipperary areas. This Irish-type Zn-Pb-Ag deposit, which also contains germanium, copper, and antimony, occurs in Waulsortian Limestone with a deeper Cu-Ag-Sb structural overprint. First discovered in September 2022, the site has seen 91 holes reported to date, intersecting approximately 3.2km of mineralization along a 6.0km trend defined by four gravity highs. Only the "C" gravity high has been systematically drilled.

Secondary assets include the Stonepark property, in which Group Eleven holds a 77.64% interest and Arkle holds 22.36%. Stonepark contains 5.1 million tonnes at 11.3% Zn+Pb in the Inferred category as of 2018. It is adjacent to Glencore’s Pallas Green project, which holds 45.4 million tonnes at 8.4% Zn+Pb in the Inferred category as of December 2025. The company also holds early-stage or historic Cu-Ag assets at Gortdrum, Denison, Tullacondra, and Oola, as well as ground at Carrickittle, Ballinalack, and the Rathdowney trend.

Group Eleven has approximately 284.1 million basic shares and 295.8 million fully diluted shares. The capital structure includes 4.6 million options priced between $0.10 and $0.19, and 5.6 million warrants priced at $0.28 expiring in February 2027. The company reported cash reserves of approximately C$18.0 million as of March 31, 2026, and approximately C$16.2 million as of June 30, 2026, with zero debt. Key shareholders include Michael Gentile with approximately 13.6%, Glencore with 12.8%, and institutions with 9.6%.

Prior-period financial data not disclosed in the current release indicates a net loss of C$5.65 million for fiscal year 2025 and a net loss of C$1.89 million for the first quarter of 2026. The company reported no revenue and a book value per share of C$0.09, remaining dependent on equity financing. A C$12 million bought deal executed in March 2026 at C$0.90 is now trading above the current price of C$0.77.