Group Eleven Secures C$10.4M to Fuel Major Irish Zinc-Lead Discovery

VANCOUVER, BC – March 04, 2026 – In a significant show of market confidence, Group Eleven Resources Corp. announced today it has upsized a previously arranged private placement to C$10.4 million, driven by strong investor demand. The deal injects vital capital to accelerate exploration at what the company calls the most significant mineral discovery in the Republic of Ireland in over a decade.

The Vancouver-based exploration company entered into an agreement with a syndicate of underwriters led by ATB Cormark Capital Markets to issue 11,595,000 common shares at a price of C$0.90 per share. The proceeds are earmarked to fund extensive exploration drilling at its high-grade Ballywire zinc-lead-silver discovery and its nearby Stonepark project, both located in a prolific mineral belt in Ireland.

A Vote of Confidence from the Market

The decision to increase the size of the "bought deal" financing is a powerful indicator of investor appetite for both Group Eleven's specific assets and the broader critical minerals sector. Initially announced at a lower amount, the upsize to C$10.4 million reflects an oversubscription and robust interest from the financial community. A bought deal, where underwriters commit to purchasing the entire offering, provides a company with certainty of funding and is often seen as a stamp of approval from the financial institutions involved.

Further bolstering this confidence is the participation of one of the world's largest mining and commodity trading companies, Glencore. Through its Canadian subsidiary, Glencore Canada Corporation, the global giant will participate in a concurrent non-brokered offering to maintain its 13.6% ownership stake in Group Eleven. This move is more than just a financial transaction; it's a strategic endorsement from a major industry player that operates the adjacent Pallas Green zinc-lead deposit, one of the largest undeveloped zinc resources in the world.

Glencore's continued investment underscores the geological potential of the region and the perceived value of Group Eleven's discoveries. For a junior exploration company, having a major partner like Glencore not only provides financial stability but also lends significant technical credibility and strategic validation to its exploration programs.

The offering also includes an option for the underwriters to purchase up to an additional 1,739,250 shares, which could bring the total gross proceeds to over C$12 million if fully exercised. The financing is expected to close on or about March 11, 2026.

Fuelling Ireland's Next Major Discovery

The infusion of capital will be immediately directed towards Group Eleven's key Irish assets, most notably the Ballywire discovery. Since its announcement in September 2022, Ballywire has consistently delivered high-grade drill results, painting a picture of a large and remarkably rich mineralized system.

Key intercepts have revealed impressive widths and grades of zinc, lead, and silver, along with valuable accessory metals like copper and germanium. Notable results include:

• 52.3 meters grading 10.3% zinc and lead (Zn+Pb) combined, plus 330 grams per tonne (g/t) of silver and 0.40% copper.
• An even richer sub-interval within that section returned 8.4 meters of 18.2% Zn+Pb, a spectacular 1,776 g/t silver, and 2.21% copper.
• Another hole hit 39.7 meters of 9.5% Zn+Pb and 131 g/t silver.

These results are significant not only for their high grades but also for the thickness of the mineralized zones, suggesting the potential for a deposit amenable to bulk mining. The new funding will allow Group Eleven to significantly expand its drilling program, aiming to define the full extent of the Ballywire system and advance it towards an initial resource estimate.

The Ballywire project is located just 20 kilometers from the company's 77.64%-owned Stonepark deposit, which itself sits adjacent to Glencore's Pallas Green. This geographic clustering suggests a large, district-scale mineral system, and the funds will also support further exploration at Stonepark to probe for extensions and new zones of mineralization.

The Strategic Importance of Zinc and Lead

The strong investor interest in Group Eleven is intrinsically linked to the growing importance of the metals it seeks. Zinc and lead are foundational industrial metals essential for modern society and the ongoing global transition to a greener economy.

Zinc's primary use is in galvanizing, a process of coating steel with a protective layer of zinc to prevent rust. This makes it indispensable for construction, infrastructure, and the automotive industry. Furthermore, zinc is playing an expanding role in renewable energy, used in the manufacturing of wind turbines and solar panels, and is a key component in emerging battery storage technologies.

Lead, while well-known for its use in conventional car batteries, is also critical for large-scale energy storage systems that are vital for stabilizing power grids that rely on intermittent renewable sources like wind and solar. The combined demand for these metals is expected to remain robust, driven by both traditional industrial activity and the clean energy transition.

By advancing a potentially large, high-grade source of these metals within a stable, top-tier jurisdiction like Ireland, Group Eleven is positioning itself to become a key player in a strategic supply chain. The ability to secure these resources from a reliable European source is increasingly valuable amid global supply chain uncertainties, adding another layer of strategic importance to the company's exploration success. The new capital provides the necessary fuel to aggressively pursue this goal, with all eyes now on the drill rigs turning at Ballywire to unlock the full potential of this exciting Irish discovery.