Group Eleven Drills 23.5m of 12.3% Zn+Pb and 46 g/t Ag, Further Confirms Deeper Cu-Ag Mineralization and Extends Mineralized Strike by 600m to 3.2km

Rhea-AI Summary

Group Eleven (OTCQB: GRLVF) reports strong Ballywire drill results dated April 16, 2026, including 57.3m of 6.22% Zn+Pb (from 322m) with 23.5m of 12.32% Zn+Pb (from 337.46m) and higher-grade subintervals. A deeper Cu-Ag zone returned 7.5m of 22 g/t Ag and 0.79% Cu (from 581.86m), including 3.5m of 35 g/t Ag and 1.28% Cu.

The company extended the Ballywire mineralized strike by approx. 600m to 3.2km and said a closed C$12.0m financing boosts funded drilling from 20,000m to ~67,000–75,000m, with multiple rigs active and several assays still pending.

Positive

• High-grade Zn+Pb: 23.5m of 12.32% Zn+Pb in hole 25-3552-53
• Deeper Cu-Ag intercept: 7.5m of 22 g/t Ag and 0.79% Cu (incl. 3.5m of 35 g/t Ag, 1.28% Cu)
• Strike extension: mineralized strike increased by ~600m to 3.2km
• Funded drill program expanded: closed C$12.0m financing to support ~67,000–75,000m drilling

Negative

• Large pending assays: ~200m and ~15.9m downhole intervals remain unassayed, creating near-term uncertainty
• Drill results are early-stage intercepts; resource classification and true widths require further work and confirmation

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Vancouver, British Columbia--(Newsfile Corp. - April 16, 2026) - Group Eleven Resources Corp. (TSXV: ZNG) (OTCQB: GRLVF) (FSE: 3GE) ("Group Eleven" or the "Company") is pleased to announce new assay results from its Ballywire discovery ("Ballywire") at the 100%-owned PG West Project ("PG West"), Republic of Ireland.

Highlights:

• 25-3552-53 – Extends previous interval from 25-3552-51 announced on 19-Jan-2026, totalling 29.9m of 15.3% Zn+Pb, 552 g/t Ag and 0.67% Cu (from 338m downhole, at base of Waulsortian Limestone), downdip and to the SE along two zones:
  • Waulsortian Limestone hosted (40m extension from 25-3552-51)
  • 57.3m of 6.2% Zn+Pb (3.4% Zn and 2.8% Pb), 35 g/t Ag (from 322m downhole), incl.
  • 23.5m of 12.3% Zn+Pb (6.2% Zn and 6.1% Pb), 46 g/t Ag, incl.
  • 11.3m of 17.6% Zn+Pb (8.2% Zn and 9.4% Pb), 60 g/t Ag, incl.
  • 4.7m of 27.6% Zn+Pb (15.7% Zn and 11.9% Pb), 92 g/t Ag, incl.
  • 1.0m of 47.0% Zn+Pb (27.0% Zn and 20% Pb), 171 g/t Ag
  • Deeper Cu-Ag Zone (70m extension from 25-3552-51)
  • 7.5m of 22 g/t Ag and 0.79% Cu (starting from 582m downhole), incl.
  • 3.5m of 35 g/t Ag and 1.28% Cu
  • Assays from downhole intervals 379m to 579m and 593m to 609m are pending
• 25-3552-51 – Remaining assays from this hole returned three zones of mineralization from the Deeper Cu-Ag target (starting from 434m downhole)
  • 1.9m of 17 g/t Ag, 0.28% Cu and
  • 1.8m of 59 g/t Ag, 0.61% Cu, 0.14% Sb and
  • 2.8m of 30 g/t Ag, 0.72% Cu (incl. 1.0m of 78 g/t Ag, 1.91% Cu, 0.16% Sb)
• Cu-Ag mineralization announced today provides additional evidence of steeply south-dipping fault zones, interpreted to be continuation of Cu-Ag bearing fault zones intersected 350m to the NE (in holes 25-3552-40, -44 and -47, announced in 2025), adding support to hypothesis that Cu-Ag bearing fault zones may extend along strike length of entire Ballywire discovery
• 25-3552-52 – Extends mineralized strike length of the Ballywire discovery by approx. 600m from 2.6km to 3.2km, by intersecting 22m of mineralization hosting 2.8m of 3.3% Zn+Pb (3.2% Zn and 0.1% Pb), 16 g/t Ag, including 1.0m of 7.7% Zn+Pb (7.4% Zn and 0.3% Pb) and 38 g/t Ag

"Today's results represent another major step forward in our understanding of the Deeper Cu-Ag target at Ballywire," stated Bart Jaworski, CEO. "With significant Cu-Ag bearing fault structures now pierced by five holes along two drill fences located 350m apart, we have increasing conviction that Deeper Cu-Ag mineralization may extend across the entire discovery to date. Extending the mineralized strike length of the discovery by 600m to 3.2km bodes well for our ongoing drilling along our 6km prospective trend. Today's impressive Waulsortian-hosted mineralization is also very encouraging. With a robust treasury and our most ambitious drill campaign to date – recently bolstered by our $12m financing allowing go-forward funded drilling to increase from 20,000m to approx. 67,000-75,000m, we are poised to continue unlocking this discovery's full potential."

Exhibit 1. Cross-Section A-A' Showing 25-3552-53 (and 25-3552-51) at Ballywire

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5685/292809_1517045904b85ba6_002full.jpg

Note: True thickness of mineralization as a percentage of the down-hole interval, is estimated to be 90-100% (for 25-3552-53), and 70-90% (for today's results from 25-3552-51)

Exhibit 2. Plan Map of Main Ballywire Discovery Corridor, Showing New Holes

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5685/292809_1517045904b85ba6_003full.jpg

Exhibit 3. Summary of Today's New Assays from 25-3552-53, -51 and -52 at Ballywire

Item	From  (m)	To (m)	Int (m)	Zn (%)	Pb (%)	Zn+Pb (%)	Ag (g/t)	Cu (%)	Sb (%)
25-3552-53	321.66	378.98	57.32	3.44	2.78	6.22	35.2	0.02	-
Incl.	337.46	360.99	23.53	6.18	6.14	12.32	46.0	0.02	-
Incl.	337.46	357.22	19.76	7.22	6.52	13.74	50.9	0.03	-
Incl.	337.46	344.97	7.51	6.26	2.93	9.18	42.0	0.02	-
And	345.90	357.22	11.32	8.24	9.38	17.61	59.9	0.03	-
Incl.	345.90	350.60	4.70	15.71	11.89	27.60	91.7	0.05	-
Incl.	347.74	348.71	0.97	27.00	19.95	46.95	171.0	0.10	-
And	365.78	377.06	11.28	2.51	0.75	3.27	63.5	0.06	-
Incl.	366.73	367.70	0.97	2.09	0.47	2.56	194.0	0.22	-
And	376.11	377.06	0.95	0.70	1.96	2.66	166.0	0.14	-
Pending	378.98	578.98	200.00	n/a	n/a	n/a	n/a	n/a	n/a
And	581.86	589.31	7.45	-	-	-	21.7	0.79	-
Incl.	581.86	585.31	3.45	-	-	-	35.2	1.28	-
Incl.	582.80	584.67	1.87	-	-	-	50.1	1.76	-
Pending	592.90	608.80	15.90	n/a	n/a	n/a	n/a	n/a	n/a
25-3552-51	433.98	435.89	1.91	0.02	0.01	0.04	16.7	0.28	0.05
And	448.02	449.83	1.81	0.05	0.01	0.06	58.8	0.61	0.14
And	472.30	475.15	2.85	0.06	0.02	0.08	29.9	0.72	0.06
Incl.	473.24	474.20	0.96	0.16	0.01	0.18	77.7	1.91	0.16
25-3552-52	424.00	445.68	21.68	0.55	0.04	0.59	3.2	-	-
Incl.	424.00	439.06	15.06	0.73	0.06	0.78	4.2	-	-
Incl.	424.00	427.75	3.75	2.40	0.08	2.47	11.9	-	-
Incl.	424.00	426.77	2.77	3.18	0.10	3.29	15.8	-	-
Incl.	424.00	425.82	1.82	4.61	0.16	4.77	23.3	-	-
Incl.	424.86	425.82	0.96	7.42	0.29	7.71	38.3	-	-

 

Note: True thickness of mineralization as a percentage of the down-hole interval, is estimated to be 90-100% (for 25-3552-53); 70-90% (for 25-3552-51); and to be determined (for 25-3552-52); "-" means less than 0.01%

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 77 holes drilled and reported by Group Eleven to date, including the most recent two new holes (25-3552-53 and -52) reported today. Today's results from 25-3552-51 are in addition to partial assays announced on 19-Jan-2026 and 25-Feb-2026. All of today's results are summarized above and below (see Exhibits 1 to 5).

Mineralization reported today consists predominantly of sphalerite, galena and pyrite, with Cu-Ag bearing zones also containing chalcopyrite and locally, suspected tennantite-tetrahedrite.

Hole 25-3552-52 was a significant step-out hole drilled approx. 350m ENE of its nearest drill hole (see Exhibit 2), on the far east portion of the Ballywire discovery. This hole returned robust mineralization totalling 2.8m of 3.3% Zn+Pb (3.2% Zn and 0.1% Pb) and 16 g/t Ag, including 1.0m of 7.7% Zn+Pb (7.4% Zn and 0.3% Pb) and 38 g/t Ag (see Exhibits 2 and 3). Relative to the nearest significantly mineralized hole (G11-3552-08), this hole expands the strike-length of mineralization intercepted to date at Ballywire by approx. 600m from 2.6km to 3.2km (see Exhibit 2).

Exhibit 4. Summary of Previously Released Assays from 25-3552-51 at Ballywire

Item	From (m)	To (m)	Int (m)	Zn (%)	Pb (%)	Zn+Pb (%)	Ag (g/t)	Cu (%)	Sb (%)
25-3552-51	338.83	391.11	52.28	5.84	4.51	10.35	329.6	0.40	0.03
Incl.	338.83	368.70	29.87	9.74	5.52	15.26	552.3	0.67	0.06
Incl.	339.78	343.53	3.75	23.47	4.41	27.88	82.5	0.04	0.02
And	350.96	357.52	6.56	7.74	10.09	17.82	144.8	0.12	0.01
And	358.48	366.91	8.43	10.40	7.84	18.24	1,775.6	2.21	0.18
Incl.	364.08	365.35	1.27	12.40	10.55	22.95	4,260.0	4.58	0.46
And	368.70	391.11	22.41	0.64	3.16	3.79	32.7	0.06	-
Incl.	368.70	385.51	16.81	0.78	3.99	4.76	41.8	0.07	0.01
Incl.	368.70	376.19	7.49	0.88	7.19	8.06	61.3	0.07	0.01
Incl.	368.70	371.50	2.80	0.89	9.72	10.61	98.6	0.15	0.01
And	401.38	409.75	8.37	0.10	5.57	5.67	131.9	0.52	0.04
Incl.	405.10	408.81	3.71	0.13	2.53	2.66	224.5	1.03	0.07
Incl.	405.10	406.05	0.95	0.46	9.81	10.27	601.0	3.19	0.19
And	415.37	424.70	9.33	0.02	0.46	0.47	17.2	0.17	0.02
Incl.	421.99	424.70	2.71	0.02	0.02	0.04	34.6	0.36	0.06
And	559.89	570.96	11.07	0.02	0.01	0.03	12.3	0.42	0.04
Incl.	564.52	567.26	2.74	0.04	0.01	0.05	25.7	1.10	0.09

 

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

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5685/292809_1517045904b85ba6_004full.jpg

Note: Of the four gravity-high anomalies above, only the 'C' anomaly has been systematically drilled to date

Given the Company's recent C$12.0m financing (closed 11-Mar-2026), the go-forward funded drill program has increased from 20,000m to between 67,000m and 75,000m (subject to detailed planning), largely earmarked for Ballywire, with the remainder at Stonepark.

Four rigs continue to be actively drilling at Ballywire. Currently, eleven (11) new holes are completed (and in the process of being logged, sampled and assayed) or in the process of being drilled. These are shown in Exhibits 2 and 5, including: (i) three holes collared on a fence at the SW extent of the discovery; (ii) two holes stepping out approx. 100m SW from today's drill fence; (iii) three holes drilled in a fan pattern immediately SW of G11-3552-08; (iv) one hole testing 300m NE of today's 25-3552-52, testing the 'D' gravity-high anomaly; (v) one hole testing for parallel zones of mineralization approx. 100m NNE of G11-3552-08 and (vi) one hole testing the 'A' gravity-high anomaly.

Exhibit 6. Regional Map of Ballywire Discovery and Surrounding Prospects

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5685/292809_1517045904b85ba6_005full.jpg

Notes to Exhibit 6: (a) Pallas Green MRE is owned by Glencore (see Glencore's Resources and Reserves Report dated December 31, 2025); (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.

Stonepark Update

At the Stonepark Project (77.64% Group Eleven, 22.36% Arkle Resources plc), located contiguous to the PG West Project, one hole (25-449-04) was drilled late last year at the Bruff prospect (see background information on Bruff and Kilteely prospects in news release dated 16-Jun-2025). Drilled to a depth of 480m, this hole tested the base of the Waulsortian Limestone near a suspected fault structure. A significant zone of blocky calcite was intersected from 194m to 200m with a brecciated lower contact, while minor disseminated pyrite was observed in the 10m above the base of the Waulsortian Limestone at 445m. While assays (recently received) did not return anomalous grades, the hole is encouraging as it shows a geological environment prospective for Irish-type zinc mineralization (i.e. calcite zones, brecciation and sulphides).

Building on the above geological observations, the Company is mobilizing a rig to Stonepark this week, supplementing the four rigs operating at Ballywire. A four-hole drill program totalling 2,700m is planned, comprising: one hole at the Stonepark deposit testing beneath known Zn-Pb mineralization for possible Cu mineralization; one hole at the Kilteely prospect; and two holes at or near the Bruff prospect. Arkle Resources has elected not to participate in funding this program, with its interest in the Project estimated to decrease from 22.36% to 21.38% (subject to cost actuals after fieldwork completion). The Company aims to provide further information on this program later this year.

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 0.20m to 1.45m with an average (over 326 samples) of 0.93m. 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% < 2mm, riffle splitter, pulverise up to 250g 85% < 75um. Analytical procedures are 34 element four acid ICP-AES (codes ME-ICP61 and ME-OG62). Other than paying for a professional analytical service, Group Eleven has no relationship with ALS.

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) (OTCQB: GRLVF) (FSE: 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)
• 10.5m 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 560 g/t Ag, 2.30% Cu and 0.17% Sb (25-3552-31), including
• 6.4m of 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)
• 25.6m of 9.2% Zn+Pb, 28 g/t Ag (25-3552-39)
• 52.3m of 10.3% Zn+Pb, 330 g/t Ag and 0.40% Cu (25-3552-51), including
• 8.4m of 18.2% Zn+Pb, 1776 g/t Ag, 2.21% Cu and 0.18% Sb (25-3552-51)
• 23.5m of 12.3% Zn+Pb and 46 g/t Ag (25-3552-53)

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 (13.7% interest) and Glencore Canada Corp. (12.9%). 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.lau@groupelevenresources.com | T: 604-781-4915

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.

---

¹ Stonepark MRE is 5.1 million tonnes of 11.3% Zn+Pb (8.7% Zn and 2.6% Pb), Inferred (Apr-17-2018)
² Pallas Green MRE is 45.4 million tonnes of 8.4% Zn+Pb (7.2% Zn + 1.2% Pb), Inferred (Glencore, Dec-31-2025)

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/292809

FAQ

What were the key Zn-Pb intercepts announced by Group Eleven (GRLVF) on April 16, 2026?

Direct answer: Group Eleven reported 57.3m of 6.22% Zn+Pb with 23.5m of 12.32% Zn+Pb in hole 25-3552-53. According to the company, the intercept includes higher-grade subintervals up to 46 g/t Ag and narrower peaks to 171 g/t Ag.

How did the April 16, 2026 results change Ballywire's strike length for Group Eleven (GRLVF)?

Direct answer: The company extended the Ballywire mineralized strike by approximately 600m to 3.2km. According to the company, hole 25-3552-52 was the step-out expanding strike from 2.6km to 3.2km, supporting continued along-strike exploration.

What Cu-Ag mineralization did Group Eleven (GRLVF) report at Ballywire on April 16, 2026?

Direct answer: A deeper Cu-Ag zone returned 7.5m of 22 g/t Ag and 0.79% Cu, including 3.5m of 35 g/t Ag and 1.28% Cu. According to the company, these results support south-dipping Cu-Ag fault zones across the discovery.

How will the C$12.0m financing announced impact Group Eleven's (GRLVF) drilling plans?

Direct answer: The C$12.0m financing increases funded drilling from 20,000m to roughly 67,000–75,000m. According to the company, funds are largely earmarked for Ballywire, enabling multiple rigs and an expanded multi-year campaign.

Which assays remain pending and what uncertainty do they create for Group Eleven (GRLVF)?

Direct answer: Significant pending assays include ~200m (378.98–578.98m) and ~15.9m (592.90–608.80m) intervals from hole 25-3552-53. According to the company, these pending results leave portions of the deeper zone unresolved until assays are reported.