Group Eleven Cuts Deeper Cu-Ag Mineralization in 710m Step-Out; Drills 3.7m of 7.7% Zn+Pb, 418 g/t Ag and 1.02% Cu in a Wider 17.6m Interval; Returns Mineralization in First Hole at 'Anomaly A'

Group Eleven Resources Corp. (ZNG) reported results from four drill holes at its Ballywire site within the PG West Project in Ireland. The holes, designated 26-468-24, 26-3552-56, 26-3552-60, and 26-468-25, represent the first drilling at gravity Anomaly A.

At the southwest end of the property, hole 26-468-24, located 710m from the nearest similar test, intersected 3.6m at 345 g/t Ag, 0.75% Cu from 449m. This interval included 0.6m at 2,120 g/t Ag, 4.50% Cu and 0.27% Sb. The same hole also returned shallower Waulsortian-hosted Zn-Pb intervals, including 14.46m at 1.97% Zn+Pb and 15.6 g/t Ag, and 0.30m at 7.28% Zn+Pb, 311 g/t Ag and 0.48% Cu.

At the northeast end, hole 26-3552-56 served as an 110m gap-fill. It returned 17.6m at 4.1% Zn+Pb, 111 g/t Ag and 0.27% Cu from 305m, including 3.7m at 7.7% Zn+Pb, 418 g/t Ag and 1.02% Cu. The hole also cut a narrow deep interval of 0.16m at 6.73% Cu, 179 g/t Ag and 1.01% Sb from 429.93m.

Hole 26-3552-60, an 80m downdip step-out, returned multiple deep Cu-Ag zones. These included 15.4m at 0.82% Cu and 39 g/t Ag, including 7.5m at 1.61% Cu and 77 g/t Ag, including 0.7m at 13.95% Cu, 643 g/t Ag and 1.42% Sb. Additional intersections included 6.4m at 0.88% Cu and 41 g/t Ag, and 29.7m at 0.43% Cu and 17 g/t Ag.

The first hole at Anomaly A, 26-468-25, returned trace malachite, chalcopyrite, suspected tennantite-tetrahedrite, sphalerite and galena, with strongly anomalous assays including 1.0m at 15 g/t Ag and 0.09% Cu. True widths are unknown.

Four rigs are currently active at the project. To date, 86 holes have been drilled and reported, with 13 new holes completed or in progress. Drilling capacity has been increased to roughly 67,000-75,000m.

Group Eleven Resources Corp. (ZNG) remains a pre-resource exploration play where drill results serve as the primary value driver. The company’s latest release extends the deeper copper-silver system by a 710-meter step-out and provides an 80-meter downdip confirmation, alongside a broad shallow zinc-lead gap-fill. While the shallow zinc-lead grade falls below the strongest 2026 anchors, the deep copper-silver results are comparable to, and in some respects broader than, prior deep hits.

The stock has already de-rated from C$1.30 in May 2026 to C$0.80, suggesting the threshold for a negative surprise may be lower than earlier in the year. These results do not constitute resource-definition or infill work, making the relevant comparators the prior best discovery and step-out results. The release does not contain a clear technical failure, nor does it provide a fresh world-class shallow intercept.

Group Eleven Resources Corp. has no revenue and depends on equity financing. The C$18 million in cash held at Q1 2026 supports the expanded drill plan, though future dilution risk remains.

Group Eleven Resources Corp. is a TSXV-listed mineral explorer focused on Irish Zn-Pb-Ag-Cu. Its key assets are the 100%-owned PG West Project hosting Ballywire, and the 77.64%-owned Stonepark project. Stonepark has an Inferred MRE of 5.1 Mt at 11.3% Zn+Pb, per the 2018 NI 43-101. Ballywire has no formal NI 43-101 resource; it is an active discovery with 86 holes reported. Adjacent to Stonepark is Glencore's Pallas Green deposit, 45.4 Mt Inferred at 8.4% Zn+Pb.

Largest shareholders include Michael Gentile at roughly 13.7% and Glencore Canada Corp. at roughly 12.9%. Financials show no revenue, with a Q1 2026 net loss of C$1.89 million. The company held cash of C$18.0 million at March 31, 2026, and working capital of C$17.0 million.