Group Eleven Announces $2.2 Million in Early Warrant and Option Exercises and Provides Update on Carrickittle West 'Pallas Green Lookalike' Target

Vancouver, British Columbia – June 16, 2025 – Group Eleven Resources Corp. (TSXV: ZNG) (OTCQB: GRLVF) (FSE: 3GE) ("Group Eleven" or the "Company") today announced a significant financial boost from the early exercise of warrants and stock options, totaling C$2.2 million. This influx of capital strengthens the Company's financial position and provides additional funding for its ongoing exploration activities in Ireland. The Company also provided an update on its highly prospective Carrickittle West prospect, a target exhibiting geological characteristics similar to the renowned Pallas Green zinc-lead deposit.

The early exercises demonstrate strong investor confidence in Group Eleven's projects and management team. The C$2.2 million raised will be strategically deployed to accelerate drilling programs and advance exploration efforts across its key Irish zinc projects. This non-dilutive funding, compared to traditional equity raises, is a positive development for existing shareholders.

Group Eleven's primary focus remains on its zinc-lead projects in the Republic of Ireland, a jurisdiction historically known for world-class zinc discoveries. The Company holds a dominant land position in the Irish Zinc Belt, including the Stonepark Project (77.64% owned) and the PG West Project (100% owned). The Carrickittle West prospect, located within both Stonepark and PG West, is a key area of interest due to its geological similarities to the neighboring Pallas Green deposit, one of the world's largest undeveloped zinc-lead resources.

The Company continues to be highly active on the ground, with three drill rigs currently operating at the Ballywire discovery within the PG West Project. Ballywire has yielded promising drill results to date, indicating the potential for a significant zinc-lead system. The ongoing drilling aims to further delineate the extent and grade of mineralization at Ballywire and test additional targets within the prospect area.

The C$2.2 million in funding from early exercises provides Group Eleven with enhanced flexibility to pursue aggressive exploration strategies. This includes potentially expanding the current drilling program, conducting geophysical surveys, and undertaking detailed geological mapping to refine future drill targets. The Company is well-capitalized to advance its projects through critical exploration milestones.

Management expressed optimism regarding the exploration progress and the potential of its Irish assets. The focus on high-priority targets like Ballywire and Carrickittle West, coupled with a strong financial position, positions Group Eleven for potential exploration success in a favorable commodity price environment for zinc and lead.

Market Context and Implications: The zinc market has shown resilience, driven by increasing demand in infrastructure development and renewable energy technologies. Supply constraints from aging mines and underinvestment in new discoveries are contributing to a positive outlook for zinc prices. For junior exploration companies like Group Eleven, a favorable commodity price environment can significantly enhance project economics and attract further investment. The successful early exercises of warrants and options reflect this positive market sentiment and investor appetite for exposure to potential zinc discoveries.

Investment Insights: For investors considering Group Eleven Resources (TSXV: ZNG), the recent funding from early exercises is a positive indicator of investor confidence and provides financial stability for ongoing exploration. The focus on high-potential targets like Ballywire and Carrickittle West, located in a proven zinc-lead district, offers significant upside potential. However, as with all junior exploration companies, investment carries inherent risks related to exploration success and market volatility. Investors should conduct thorough due diligence and consider their risk tolerance before investing. The continued drill results from Ballywire and updates on Carrickittle West will be key catalysts to monitor.

Group Eleven remains committed to unlocking the value of its extensive land package in the Irish Zinc Belt and advancing its projects towards potential resource delineation.