Group Eleven Reports 94% Higher Germanium Grades, up to 155 g/t Ge, at Ballywire with Improved Accuracy Assay Method

The updated assays revise previously reported drill results, while metallurgical recoveries remain unknown.

Rhea-AI Summary

Group Eleven Resources (GRLVF) reported germanium grades averaging 94% higher after re-analysing a second batch of Ballywire drill-core samples. The 110 samples came from twelve previously reported holes at its 100%-owned PG West Project in Ireland. Sodium peroxide fusion replaced lithium borate fusion to improve assay accuracy; these are revised assays, not new drilling results.

Results included 8.69m at 42.9 g/t germanium, previously 15.3 g/t, and 23.86% combined zinc and lead. A 0.33m interval returned 154.5 g/t germanium, previously 66.1 g/t. The company has four rigs active and a fully funded program of approximately 67,000m, including approximately 51,500m at PG West. Eighteen new holes are being drilled or have been completed and await processing. Further germanium testing is needed across untested zinc-mineralized intervals, and metallurgical recoveries remain unknown because test work has not been completed.

11 points · 0 major

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0 major · 3 points

Hollow bars mark forward-looking points. How the balance works

Positive

• Moderate pointBallywire's second batch of 110 re-assayed samples returned germanium grades averaging 94% higher than the old method.
• Moderate point. Forward-looking: it has not happened yet and may not happen.A C$12m financing in March 2026 supports a fully funded approximately 67,000m drill program, including approximately 51,500m at PG West.
• Minor pointG11-3552-19 returned 8.69m at 42.9 g/t germanium, previously 15.3 g/t, with 23.86% zinc plus lead.
• Minor pointG11-468-03 returned 6.85m at 38.3 g/t germanium, previously 18.7 g/t, with 15.40% zinc plus lead.
• Minor pointG11-468-03 also returned 2.05m at 93.1 g/t germanium, previously 47.8 g/t, with 40.78% zinc plus lead.

6 minor points

• Minor pointG11-3552-17 returned 1.36m at 60.1 g/t germanium, previously 12.4 g/t, with 14.41% zinc plus lead.
• Minor pointG11-3552-17 also returned 0.33m at 154.5 g/t germanium, previously 66.1 g/t.
• Minor pointG11-468-01 returned 3.30m at 43.7 g/t germanium, previously 26.5 g/t, with 12.48% zinc plus lead.
• Minor pointG11-3552-12 returned 2.83m at 26.6 g/t germanium, previously 17.8 g/t, with 9.77% zinc plus lead.
• Minor pointG11-468-06 returned 2.48m at 27.0 g/t germanium, previously 19.3 g/t, with 29.16% zinc plus lead.
• Minor pointBallywire has four rigs active, with eighteen new holes completed and undergoing processing or being drilled.

Negative

• Minor pointMetallurgical recoveries remain unknown for Ballywire's reported metals because metallurgical test work has not been completed.
• Minor point. Forward-looking: it has not happened yet and may not happen.The 110 samples mainly represent spot testing; further germanium analysis is required across remaining untested zinc-mineralized intervals.
• Minor pointG11-3552-17's 8.35m and 3.29m intervals include respectively 6.6m and 0.95m unassayed for germanium, assumed nil grade.

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Vancouver, British Columbia--(Newsfile Corp. - November 10, 2026) - Group Eleven Resources Corp. (TSXV: ZNG) (OTCQB: GRLVF) (FSE: 3GE) ("Group Eleven" or the "Company") is pleased to report results from a second batch of drill-hole intervals re-analysed using a new, higher-accuracy germanium assay method at its Ballywire discovery ("Ballywire"), part of the 100%-owned PG West Project ("PG West") in Ireland. These results follow the Company's related news release dated 17-Sept-2026.

Highlights:

• What is Germanium? Germanium (Ge) is a semiconductor used across several industries, including AI-related infrastructure and fibre optics; outside China, it currently trades at about US$235/oz, up approx. 50% from Sept-2025 and up over 500% since Jan-2023; in the Earth's crust, elevated Ge grades typically occur only in some coal deposits and certain zinc deposits
• New Assay Method - Over the last few years, 330 drill core samples from Ballywire were submitted for Ge analysis at ALS Labs in Ireland, using 'lithium borate fusion' ("old method"), the most accurate assay method for Ge at the time; after recent discussions with ALS, it was recommended to try 'sodium peroxide fusion' ("new method") to increase digestion and minimize Ge loss to volatiles during the assay process, resulting in higher accuracy
• New Results - In addition to 220 samples (from five drill holes) announced on 17-Sep-2026, a second batch of 110 samples has now been re-analysed with the new method, returning Ge grades 94% higher on average compared with the old method; results are as follows (note 'old method' results were previously published):
• G11-3552-12 - Zn+Pb and Ag results announced 11-Jun-2024 with today's Ge results:
  • 2.8m of 9.8% Zn+Pb, 24 g/t Ag and 27 g/t Ge (previously 18 g/t Ge)
• G11-3552-17 - Zn+Pb and Ag results announced 24-Sep-2024 with today's Ge results as follows:
  • 1.4m of 14.4% Zn+Pb, 29 g/t Ag and 60 g/t Ge (prev. 12 g/t Ge)
• G11-3552-19 - Zn+Pb and Ag results announced 14-Nov-2024 with today's Ge results as follows:
  • 8.7m of 23.9% Zn+Pb, 85 g/t Ag and 43 g/t Ge (prev. 15 g/t Ge)
• G11-468-01 - Zn+Pb and Ag results announced 07-Sep-2021 with today's Ge results as follows:
  • 3.3m of 12.5% Zn+Pb, 48 g/t Ag and 44 g/t Ge (prev. 27 g/t Ge)
• G11-468-03 - Zn+Pb and Ag results announced 06-Sep-2022 with today's Ge results as follows:
  • 6.9m of 15.4% Zn+Pb, 160 g/t Ag and 38 g/t Ge (prev. 19 g/t Ge) and
  • 2.1m of 40.8% Zn+Pb, 385 g/t Ag and 93 g/t Ge (prev. 48 g/t Ge)
• G11-468-06 - Zn+Pb and Ag results announced 02-Mar-2023 with today's Ge results as follows:
  • 2.5m of 29.2% Zn+Pb, 160 g/t Ag and 27 g/t Ge (prev. 19 g/t Ge)

"Today's results represent more accurate and significantly improved germanium grades at Ballywire, reinforcing one of the discovery's key value drivers," stated Bart Jaworski, CEO. "With several triple digit g/t Ge values, up to 155 g/t Ge, and typical ranges of 20-50 g/t Ge over wider intervals, coincident with high grades of zinc and associated metals, today's results are stronger than our recent updated Ge assays from September. Four rigs continue to be active at Ballywire. With a robust treasury and our most ambitious drill campaign to date totalling over 67,000m fully funded, we are poised to continue unlocking this discovery's full potential."

Exhibit 1. Summary of Today's Ge Results ('New' vs 'Old' Assay Method) from Ballywire

Item	From (m)	To (m)	Int (m)	Zn+Pb (%)	Ag (g/t)	Cu (%)	Ge  (New) (g/t)	Ge  (Old)  (g/t)	% Chg Ge (New vs.  Old)
G11-3552-03	218.76	219.20	0.44	22.14	93.9	0.01	24.1	8.9	171%
And	280.56	281.29	0.73	38.65	160.0	0.09	94.3	24.4	286%
And	285.12	286.05	0.93	17.07	81.9	0.06	16.4	6.5	152%
And	291.62	291.80	0.18	27.12	397.0	0.52	46.9	12.4	278%
G11-3552-12	283.44	286.27	2.83	9.77	24.0	0.02	26.6	17.8	50%
Incl.	284.26	285.16	0.90	15.37	33.8	0.03	43.4	27.8	56%
And	298.21	303.93	5.72	12.53	132.5	0.22	14.8	7.1	109%
Incl.	299.63	300.07	0.44	26.45	88.3	0.27	48.7	19.9	145%
G11-3552-16	255.52	256.16	0.64	33.96	106.0	0.02	36.7	22.9	60%
G11-3552-17	144.46	152.81	8.35	7.04	67.4	0.01	15.2*	6.0	152%
Incl.	144.46	145.04	0.58	28.40	209.0	0.04	33.1	15.2	118%
And	150.15	150.39	0.24	24.64	257.0	0.04	144.5	71.7	102%
And	151.85	152.81	0.96	29.59	326.0	0.05	76.4	25.5	200%
And	167.78	168.11	0.33	34.30	147.0	0.06	154.5	66.1	134%
And	210.02	213.31	3.29	16.05	30.1	0.02	49.3^	15.3	222%
Incl.	210.02	211.38	1.36	14.41	28.6	0.02	60.1	12.4	384%
And	212.33	213.31	0.98	22.28	33.5	0.03	82.1	34.1	141%
G11-3552-18	255.59	255.82	0.23	27.14	48.1	0.03	80.8	41.2	96%
And	257.50	258.56	1.06	36.10	218.0	0.08	82.0	17.5	369%
And	258.84	259.26	0.42	33.25	188.0	0.11	71.8	22.7	216%
And	263.22	263.45	0.23	32.33	110.0	0.12	74.0	38.9	90%
G11-3552-19	199.69	208.38	8.69	23.86	85.0	0.06	42.9	15.3	180%
Incl.	199.69	200.40	0.71	15.60	31.6	0.03	72.2	25.3	185%
And	201.73	202.55	0.82	21.03	60.4	0.05	63.9	25.1	155%
G11-468-01	312.70	316.00	3.30	12.48	48.3	0.03	43.7	26.5	65%
Incl.	314.85	315.25	0.40	25.45	92.2	0.07	75.7	38.5	97%
G11-468-03	228.20	229.87	1.67	21.26	251.8	0.03	48.8	27.0	81%
Incl.	229.31	229.87	0.56	46.40	632.0	0.06	100.0	63.2	58%
And	251.65	258.50	6.85	15.40	160.3	0.04	38.3	18.7	104%
Incl.	251.65	254.60	2.95	7.32	104.1	0.03	24.2	10.3	135%
And	256.45	258.50	2.05	40.78	384.7	0.09	93.1	47.8	95%
Incl.	257.81	258.10	0.29	47.65	496.0	0.10	117.5	79.2	48%
G11-468-06	292.00	292.90	0.90	8.52	28.1	0.01	22.2	15.4	45%
And	297.70	298.55	0.85	12.82	53.0	0.02	30.6	24.5	25%
And	304.60	307.08	2.48	29.16	160.0	0.04	27.0	19.3	40%
Incl.	304.60	305.13	0.53	65.70	421.0	0.09	60.5	47.5	27%
G11-468-12	266.36	270.68	4.32	8.76	148.8	0.31	15.3	12.4	23%
Incl.	269.00	270.68	1.68	16.59	359.8	0.78	24.1	18.3	32%
And	292.00	294.11	2.11	30.70	723.8	0.72	16.7	13.3	25%
Incl.	292.74	294.11	1.37	33.18	922.5	1.00	22.0	16.6	33%
G11-468-13	264.45	265.20	0.75	13.68	57.6	0.04	39.1	15.8	147%
And	272.05	273.27	1.22	22.16	107.8	0.05	16.0	7.4	117%
And	281.08	281.60	0.52	16.04	63.2	0.06	14.4	6.6	118%
G11-468-15	272.38	272.57	0.19	22.20	199.0	0.34	49.9	11.4	338%
And	273.26	273.80	0.54	31.46	170.0	0.14	30.0	10.5	186%

 

Note: In addition to dates from the front page of this release, Zn+Pb, Ag and Cu data was published 21-Nov-2023 (G11-3552-03, G11-468-13 and G11-468-15), 24-Sep-2024 (G11-3552-16), 22-Oct-2024 (G11-3552-18), 07-Sep-2023 (G11-468-12), 21-Nov-2026 (26-3552-57); Old Ge values were previously published 22-Nov-2022, 21-Jun-2023, 30-Jan-2024, 15-Jan-2025; 'New' means using sodium peroxide method; 'Old' means using lithium borate method; * Interval contains 6.6m of no assay for Ge assumed nil grade; ^ Interval contains 0.95m of no assay for Ge assumed nil grade; certain intervals above were not reported in previous news releases as they formed unpublished sub-intervals of broader reported intervals

Exhibit 2. Plan Map of Main Ballywire Discovery Corridor, Showing Updated Ge Assays To Date

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5685/323256_eleven1.jpg

Note: Yellow labels denote today's Ge results (using 'new' assay method; 'old' method previously published); red question marks illustrate potential for a SW-trending parallel zone of mineralization; * includes 6.6m not assayed for Ge and assumed nil grade; ^ includes 0.95m not assayed for Ge and assumed nil grade

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 91 holes drilled (totalling 35,402m) and reported by Group Eleven to date, including today's results from twelve (12) previously released holes (reporting re-assayed Ge grades). All of today's results are summarized above and below (see Exhibits 1 to 5).

As noted above, 330 Ballywire drill-core samples were previously analysed for Ge by ALS Laboratories in Ireland using the 'old method'. Of these, 220 samples announced on 17-Sep-2026 comprised largely continuous sequences selected to assess wider intervals. Today's remaining 110 samples were collected during the earliest phase of Ge testing at Ballywire and were used mainly for spot testing. Hence, further Ge analysis is required across the remaining untested intervals of strong zinc mineralization.

Note, as with all metals reported to date at Ballywire, metallurgical test work has yet to be completed and therefore, metallurgical recoveries are not yet known. Globally, Ge is known to have a close chemical association with sphalerite (zinc-bearing mineral) and this appears to be corroborated at Ballywire with high Ge grades well correlated with high Zn grades.

Four rigs continue to be actively drilling at Ballywire. Currently, eighteen (18) new holes are completed (and in the process of being logged, sampled and assayed) or in the process of being drilled. The Company has a robust treasury bolstered by a C$12m financing in March 2026, fully funding a drill program totalling approx. 67,000m (including approx. 51,500m at PG West).

Exhibit 3. Cross-Section A-A' Showing Example of Today's Ge Results at Ballywire

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5685/323256_g112.jpg

Note: Yellow labels denote today's Ge results (using 'new' assay method; 'old' method previously published); * includes 6.6m not assayed for Ge and assumed nil grade; ^ includes 0.95m not assayed for Ge and assumed nil grade

Exhibit 4. 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/5685/323256_e970fc0fe498e95d_006full.jpg

Note: Of the four gravity-high anomalies above, only the 'C' anomaly has been systematically drilled to date; * includes 6.6m not assayed for Ge and assumed nil grade; ^ includes 0.95m not assayed for Ge and assumed nil grade

Exhibit 5. Regional Map of Ballywire Discovery and Surrounding Prospects

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5685/323256_e970fc0fe498e95d_007full.jpg

Notes to Exhibit 5: (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. Mineralization and resource estimates relating to nearby properties are not necessarily indicative of the mineralization on the Company's assets.

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 0.08m to 1.19m with an average (over 110 samples) of 0.63m. 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). For germanium, in the past, the Company used lithium borate fusion (ME-MS81) assay method but as of this news release switched to sodium peroxide fusion (ME-MS89L). 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. Drill data (dip, azimuth and depth) for today's release will be posted on Group Eleven's website in due course.

About Group Eleven Resources

Group Eleven Resources Corp. (TSXV: ZNG) (OTCQB: GRLVF) and (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)
• 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)
• 2.8m of 110 g/t Ag, 5.09% Cu, 0.44% Sb (26-3552-57)

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 (13.6% interest) and Glencore Canada Corp. (12.8%). 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/323256

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How much did Group Eleven's Ballywire germanium grades increase after re-assaying?

The second batch of 110 samples returned germanium grades averaging 94% higher than the old assay method. These samples came from twelve previously reported drill holes. One 0.33m interval in G11-3552-17 returned 154.5 g/t germanium, compared with 66.1 g/t previously.

Has Group Eleven established metallurgical recoveries at Ballywire?

No metallurgical recoveries are known yet because metallurgical test work has not been completed for the metals reported at Ballywire. The revised germanium assays measure grades in drill-core samples; they do not establish metal recovery.