Group Eleven Drills 6.9m of 18.3% Zn+Pb and 86 g/t Ag in 50m Step-Out, plus 4.7m of 67 g/t Ag and 0.88% Cu in 275m Step-Out Testing Deeper Cu-Ag Mineralization

Group Eleven Resources Corp. (ZNG) reported significant drill results from its Ballywire project, highlighting a major expansion of the Deeper Cu-Ag target and strong zinc-lead-silver intersections. Hole 26-3552-60, a 50m downdip step-out targeting Zn-Pb-Ag, intersected 45.0m @ 6.0% Zn+Pb and 28 g/t Ag from 346m downhole. This interval included high-grade sections of 6.9m @ 18.3% Zn+Pb and 86 g/t Ag, with a peak of 2.4m @ 40.9% Zn+Pb (30.0% Zn, 10.9% Pb) and 185 g/t Ag.

Further expanding the copper-silver footprint, Hole 26-3552-54, a 275m step-out on the Deeper Cu-Ag target, returned 4.7m @ 67 g/t Ag, 0.88% Cu and 0.10% Sb. This included a higher-grade segment of 0.8m @ 254 g/t Ag, 3.41% Cu, 0.46% Sb. The strike length of the Deeper Cu-Ag target is now approximately 700m, up from 430m.

Additional intersections were recorded in Hole 26-468-23, located 375m southwest of the nearest drill fence, which cut 21.2m @ 6.4% Zn+Pb and 50 g/t Ag. This zone featured a 6.3m section @ 10.9% Zn+Pb and 122 g/t Ag. Meanwhile, Hole 26-3552-55, a 265m step-out on gravity-high anomaly ‘D’, returned only weak mineralization, which is interpreted as a vectoring tool for nearby massive sulphides.

The total Ballywire discovery now spans 3.2km along a 6km trend. Four rigs are currently active on the project, with 13 holes completed or in progress.

Group Eleven Resources Corp. (ZNG) reported incremental expansion of known mineralization, with Hole 26-3552-60 confirming a parallel high-grade Zn-Pb lens 50m downdip. This discovery could enhance local tonnage but does not double the system. Hole 26-3552-54 extended the Cu-Ag strike to 700m, a notable step-out along the trend that was already anticipated. Additionally, Hole 26-468-23 identified a low-grade extension.

The market had already priced in a large, multi-kilometer system following a string of bonanza-grade results in early 2026. The stock peaked at C$1.30 in May and drifted down to C$0.88 prior to this release. A high-grade Cu hole on June 11 caused a brief bounce but failed to reclaim previous highs. This price action suggests the market’s revealed expectation is that major discoveries have been made and the focus is now on de-risking and building a resource. Today’s step-outs serve as routine confirmation rather than a new catalyst.

For a junior explorer, routine positive drill results are necessary to sustain interest during the lengthy definition phase. On a risk-adjusted basis, investing at C$0.88 with a C$247M market cap in a pre-resource explorer with no mine plan and a small cash balance of C$18M as of Q1 carries inherent downside. The cash balance is expected to be drawn down quickly, and the company will likely need further dilutive financing before any resource is declared. This release does not address those concerns.

Group Eleven Resources Corp. is a Vancouver-based junior explorer focused on zinc, lead, silver, and copper in the Irish Midlands. Its key assets include the 100%-owned PG West project, which hosts the Ballywire discovery, a 77.64% interest in the Stonepark Zn-Pb deposit adjacent to Glencore’s Pallas Green, and other early-stage properties.

Ballywire is a greenfield Irish-type carbonate-hosted massive sulphide discovery made in 2022. Drilling has outlined a 3.2km-long trend with high-grade Zn-Pb-Ag in the Waulsortian limestone and a separate deeper Cu-Ag feeder system. No resource has been defined. The project is at an advanced exploration stage, with 79 holes drilled and a 67,000-75,000m program underway.

The company has no revenue and is net loss-making, reporting a loss of $1.89M in Q1 2026. It depends on equity financing. Cash at Q1 2026 was C$18M, with a market cap of approximately C$247M.