Vancouver, British Columbia--(Newsfile Corp. - October 14, 2026) - Group Eleven Resources Corp. (TSXV: ZNG) (OTCQB: GRLVF) (FSE: 3GE) ("Group Eleven" or the "Company") is pleased to announce assay results from five (5) holes at its Ballywire discovery ("Ballywire") at the 100%-owned PG West Project ("PG West"), Ireland.

Highlights:

• 26-2654-04 - 270m step-out SW of Ballywire discovery, returned:
  
  • 24.2m of 2.8% Zn+Pb (2.4% Zn and 0.4% Pb), 5 g/t Ag (starting at 434m downhole), incl.
    
    • 6.3m of 7.9% Zn+Pb (6.7% Zn and 1.1% Pb), 14 g/t Ag, incl.
      
      • 2.9m of 10.9% Zn+Pb (9.1% Zn and 1.7% Pb), 18 g/t Ag, incl.
        
        • 1.0m of 22.1% Zn+Pb (18.8% Zn and 3.4% Pb), 27 g/t Ag and
  • 10.1m of 8 g/t Ag, 0.14% Cu (starting 593m downhole), incl.
    
    • 6.3m of 11 g/t Ag, 0.20% Cu, incl.
      
      • 1.7m of 30 g/t Ag, 0.70% Cu
• 26-468-26 - Filling in a 390m gap between drill fences, returned:
  
  • 31.1m of 3.7% Zn+Pb (2.1% Zn and 1.6% Pb), 15 g/t Ag (starting at 361m downhole), incl.
    
    • 11.1m of 7.8% Zn+Pb (4.6% Zn and 3.1% Pb), 32 g/t Ag, incl.
      
      • 7.4m of 10.1% Zn+Pb (5.6% Zn and 4.4% Pb), 36 g/t Ag
• 26-3552-61 - Approx. 120m downdip of 26-3552-60 (7.5m of 77 g/t Ag, 1.61% Cu and 0.17% Sb, announced 07-Jul-2026), returned:
  
  • 7.7m of 29 g/t Ag and 0.79% Cu (starting 645m downhole), incl.
    
    • 4.5m of 38 g/t Ag and 0.99% Cu, incl.
      
      • 1.9m of 47 g/t Ag and 1.26% Cu
• 26-3552-58 - NE edge of currently known discovery area, returned:
  
  • 4.1m of 7 g/t Ag and 0.37% Cu (starting 551m downhole), incl.
    
    • 1.4m of 9 g/t Ag, 0.49% Cu
• Four rigs continue to drill at Ballywire, with a fifth rig drilling at the Company's Stonepark Project

"Today's results represent a 17% extension to our strike length of intercepted higher-grade mineralization at the Ballywire discovery," stated Bart Jaworski, CEO. "Massive and semi-massive sulphides are now intersected over approx. 1.87km, up 270m from 1.60km previously. This new extension is located on the SW edge of the current known discovery area, and is open further to the south, west and north, towards gravity-high anomalies 'A' and 'B'. The above step-out hole, together with hole 26-468-26, now indicate a 420m long zone of high-grade mineralization at the SW portion of the discovery."

"Altogether, the strike length of intersected mineralization to date at Ballywire totals 3.2km, within a prospective trend spanning 6.0km, defined by four gravity high anomalies (of which only one, anomaly 'C', has been systematically drilled to date). We are poised to continue to create additional shareholder value as we progress our fully funded and ongoing, 4-rig drill program totalling approx. 67,000m, started in April 2026 and scheduled to continue until late 2027 or early 2028."

Exhibit 1. Cross-Section A-A' Showing Today's Results from 26-2654-04 at Ballywire

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Note: True thickness of mineralization as a percentage of the down-hole interval, is estimated to be 90-100% and 60-70% for Waulsortian-hosted and Deeper Cu-Ag mineralization, respectively, in today's results from 26-2654-04

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

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Note: Yellow labels denote today's results; red question marks illustrate potential for a SW-trending parallel zone of mineralization

Exhibit 3. Cross-Section B-B' Showing Today's Results from 26-468-26 at Ballywire

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Note: True thickness of mineralization as a percentage of the down-hole interval, is estimated to be 90-100% and 70-80% for Waulsortian-hosted and BLN-hosted, from 26-468-26; this hole encountered bad ground and was abandoned at 421m

Exhibit 4. Cross-Section C-C' Showing Today's Results from 26-3552-61 at Ballywire

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Note: True thickness of mineralization as a percentage of the down-hole interval, is estimated to be 90-100% and 70-80% for today's results for Waulsortian-hosted and Deeper Cu-Ag mineralization, respectively, from 26-3552-61

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 and reported by Group Eleven to date, including today's results from five new holes (26-2654-04, 26-468-26, 26-3552-58, -59 and -61). All of today's results are summarized above and below (see Exhibits 1 to 8).

Mineralization reported today consists predominantly of sphalerite, galena and pyrite, with Cu-Ag bearing zones containing malachite, chalcopyrite and suspected tennantite-tetrahedrite. In addition to the above results, note that 26-3552-59 (located at the NE corner of the Ballywire discovery as per Exhibit 2), intersected 28.7m of 0.08% Zn+Pb (0.03% Zn and 0.06% Pb; starting at 169m downhole), including 1.0m of 0.55% Zn+Pb (0.29% Zn and 0.26% Pb), 1.1 g/t Ag and 4.6m of 0.13% Zn+Pb (0.01% Zn and 0.12% Pb). The hole also intersected 2.7m of 3.4 g/t Ag, 0.08% Cu (starting at 304m downhole). These results represent early evidence of a potential parallel zone of mineralization to the north of the main discovery. Further drilling is ongoing near this area, to the NE (see Exhibit 2).

Four rigs continue to be actively drilling at Ballywire. Currently, sixteen (16) 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 1 to 3. The Company is fully funded for its ongoing drill campaign, totalling approx. 67,000m, started in April 2026 and aiming to complete at or around end of 2027.

Exhibit 5. Cross-Section D-D' Showing Today's Results from Ballywire

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Note: True thickness of mineralization as a percentage of the down-hole interval, is estimated to be 80-90% and 75-85% for Waulsortian-hosted and Deeper Cu-Ag mineralization, respectively, from today's results from 26-3552-58

Stonepark Drill Update

Drilling at the Stonepark project (77.64% interest), adjacent to PG West, continues with three holes completed and one hole to be finished in a few weeks, as part of the current program (see news release dated 16-Apr-2026). Hole 26-2638-07 (new discovery, on a 550m step-out, returning 2.8m of 8.3% Zn+Pb; announced 23-Jul-2026), did not return significantly elevated Cu-Ag mineralization in the deeper part of the hole. However, follow-up drilling in this locality is strongly justified with a view to expand the new massive sulphide zone and test for larger hypothesized faults in this area.

Exhibit 6. Summary of Today's New Assays from Ballywire

Note: True thickness of mineralization as a percentage of the down-hole interval, is estimated to be 90-100% and 60-70% for Waulsortian-hosted and Deeper Cu-Ag mineralization, respectively, from 26-2654-04; '-' means less than 0.01%

Exhibit 7. Summary of Today's New Assays from Ballywire

Note: True thickness of mineralization as a percentage of the down-hole interval, is noted in Exhibits 3, 4 and 5 above; '-' means less than 0.01%

Exhibit 8. Regional Gravity Map Showing 6km Long Prospective Trend at Ballywire

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

Exhibit 9. Regional Map of Ballywire Discovery and Surrounding Prospects

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Notes to Exhibit 9: (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.

Debt Settlement

Further to the Company's news release dated September 4, 2026, the Company announces that it has issued 38,393 common shares at a price of $0.84 per common share in settlement of outstanding director fees owed to a former director of the Company. For additional details regarding the debt settlement, please refer to the Company's September 4, 2026 news release.

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 3.21m with an average (over 572 samples) of 1.06m. 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. 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.

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/318824