Group Eleven Resources Corp. press release

Group Eleven Completes Drilling at Ballywire, Adds New License at Tullacondra and Proceeds with Drill Planning at Carrickittle West, PG West Project, Ireland

2022-08-09

TSXV - TSX Venture Exchange · Zinc · Lead · Silver · Copper · Germanium · Antimony · Canada · Drill Results

Canada NewsWire

VANCOUVER, BC , Aug. 9, 2022 /CNW/ - Group Eleven Resources Corp. (TSXV: ZNG) (OTC: GRLVF) (FRA: 3GE) (" Group Eleven " or the " Company ") is pleased to provide an interim update on its zinc and copper exploration activities in the Republic of Ireland .

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Highlights:

At the Ballywire zinc prospect (100%-interest PG West project), four holes (totalling approximately 1,400m ) have now been completed, stepping out several hundred metres each from hole G11-468-02 (see news release dated September 7, 2021 ); assays are expected over the next 3-6 weeks At the Carrickittle West zinc prospect (76.56% interest, Stonepark project, located adjacent to the PG West project), the Company has begun planning for a follow-up hole several hundred metres north of G11-2531-01 (see news release dated June 16, 2022 ); details and timing of this follow-up drill program will be announced in due course At the Tullacondra copper-silver prospect (20km south of PG West project), Group Eleven entered into competition a number of months ago to acquire one extra prospecting license ("PL") on the west side of the existing property boundary; the Company was successfully awarded this PL last week

"We are very pleased with the steady progress made so far this year with our two-rig drill program, as well as, with our bolstered strategic position the Limerick region," stated Bart Jaworski , CEO. "We are on-track to complete our 2022 drill program totalling over 6,000m . Drilling continues on several regional targets at PG West, to be followed by the completion of three remaining holes at Stonepark, as well as, follow-up drilling at Carrickittle. At Tullacondra, our expanded ground position covers the western extension of Waulsortian limestone, adding further compelling zinc exploration upside to what is already an exciting copper-silver prospect."

About Group Eleven Resources

Group Eleven Resources Corp. (TSX.V: ZNG; OTC: GRLVF and FRA: 3GE) is a mineral exploration company focused on advanced stage zinc exploration in Ireland . 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

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

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.sedar.com and readers are urged to review these materials, including the technical reports filed with respect to the Company's mineral properties.

SOURCE Group Eleven Resources Corp.

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