Four New Holes From Ongoing Drill Program At Ballywire Discovery At PG West Project

VANCOUVER - Group Eleven Resources Corp. reported on four new holes from the ongoing drill program at the Ballywire zinc-lead-silver discovery PG West Project, Republic of Ireland.

"We are very pleased to see the NE massive sulphide zone expanded by a ninth consecutive high-grade hole," stated Bart Jaworski, CEO. "Additional excellent Ag and Cu values also continue to point to a stratigraphically deeper Cu-Ag horizon, which we are aiming to start drill testing for the very first time over the next few weeks. We also look forward to stepping out 1.3km ENE towards a very prospective area near the 'D' gravity high anomaly. This locality hosts abundant calcite bodies, commonly seen above high-grade mineralization at Ballywire. A nearby historic hole is also mineralized. With the Cu-Ag target, continued drilling to the NE and larger step outs along our prospective 6km trend, 2025 promises to be an exciting year of exploration for Group Eleven."

The Ballywire prospect is a relatively new zinc-lead-silver discovery. High-grade mineralization from G11-3552-27 and -29 consists predominantly of massive and semi-massive sulphide (sphalerite, galena, pyrite, chalcopyrite and suspected tennantite-tetrahedrite), as well as, disseminated and vein hosted sulphide mineralization. Mineralization occurs along and/or close to the base of the Waulsortian Limestone. Holes drilled as 300m step-outs to the NE (G11-3552-24, -26 and -28; returned zones of mineralization narrower and weaker than those at the main discovery trend. Disseminated copper mineralization, as well as, mineralized veins and fractures, however, are strengthening towards the north, suggesting massive sulphide mineralization may be present further north. A second mineralized trend is also emerging to the south where the interpreted Cu-Ag rich 'feeder' fault pierced by drilled along the main discovery trend appears to correlate with mineralization intersected in G11-3552-08. More drilling is ongoing in the NE area to test the above targets.

As drilling progresses at Ballywire, it is increasingly evident that there exists an interpreted Cu-Ag 'feeder' fault parallel to and spatially associated with the main Zn-Pb-Ag discovery at Ballywire. This 'feeder' fault hosts mineralization with up to 5.90% Cu and 1,440 g/t Ag, interpreted to have been transported by mineralizing fluids from below by vertical to steeply-dipping structures. The results provide further evidence, with grades up to 2.01% Cu and 511 g/t Ag. Meanwhile, the stratigraphy of the region suggests that approximately 100-200m below the discovery horizon (base of the Waulsortian Limestone), is the Lower Limestone Shale horizon, which hosts four well known Cu-Ag historic occurrences in the surrounding area.

These historic Cu-Ag occurrences can be interpreted as the eroded remnants of originally more vertically extensive mineralizing systems, likely representing the roots of stratigraphically higher Zn-Pb-Ag mineralization. At Ballywire, there is a chance the mineralizing system is much larger than at the neighbouring deposits (based on relatively large footprint to date), and if it is there, any Cu-Ag mineralization would notionally be intact below the existing Zn-Pb-Ag mineralization.

As drilling progresses at Ballywire, it is increasingly evident that high-grade Zn-Pb-Ag mineralization at Ballywire is spatially associated with steeply dipping bodies of calcite, interpreted to represent the 'exhaust' from the mineralization process below (i.e. dissolved limestone at the mineralized horizon is re-precipitated as calcite bodies immediately above). These calcite bodies may prove to be a strong exploration vector along the undrilled remainder of Ballywire's prospective 6km trend.

Two shallow historic holes, located 1.3km ENE from the current boundary of the Ballywire discovery, intercepted such calcite bodies, yet were never followed up. This locality is also near the prospective 'D' gravity high anomaly and historic hole, 99-3352-05, which intersected mineralization of a tenor typically seen peripheral to massive sulphide zones at the discovery trend. Group Eleven aim to test this locality in the coming weeks.

Separately, two historic holes approx. 300m and 600m to the WSW, respectively, from the current boundary of the Ballywire discovery, also intercepted abundant calcite zones and were never followed up. Group Eleven aims to test these locations in due course.

Looking forward, six (6) drill holes (G11-3552-30 to -35) are in progress with results expected in due course. Drilling to date across 1.25km of the overall 2.6km long trend of significantly mineralized drill intercepts. This in turn is hosted within a 6km long prospective trend defined by four gravity high anomalies, only one of which (anomaly 'C') is systematically drilled to date.