Group Eleven Resources : Presentation – Extra-Short

RESOURCES CORP.

New High-GradeZinc-Lead- Silver Discovery in Ireland

April 2024

TSX.V: ZNG | OTC: GRLVF | FRA: 3GE

Important Notice

This Presentation is given by Group Eleven Resources Corp. ("the Company"), incorporation number BC1098004, registered office at 1050-400 Burrard Street, Vancouver, BC, Canada, V6C 1M2 and is made subject to the terms outlined below. No securities regulatory authority has expressed an opinion about the information contained in this Presentation and it is an offence to claim otherwise.

This document and its contents may not be reproduced, redistributed or passed on, directly or indirectly, to any other person or disclosed or published, in whole or in part, for any purpose. This document is being provided for information purposes only and thus viewing, downloading, reproducing, copying or distributing this Presentation may be restricted by law in certain jurisdictions.

Except for statements of historical fact relating to the Company, certain statements in this Presentation may constitute forward-looking information, future oriented financial information, or financial outlooks (collectively, "forward-looking information") within the meaning of Canadian securities laws. Forward-looking information may relate to this Presentation, Company's future outlook and anticipated events or results and, in some cases, can be identified by terminology such as "may", "will", "expected", "estimate", "potential" or "possible" or other similar expressions concerning matters that are not historical facts and include, but are not limited in any manner to, those with respect to commodity prices, mineral resources, mineral reserves, realization of mineral reserves, existence or realization of mineral resource estimates, the timing and amount of future production, the timing of construction of the proposed mine and process facilities, capital and operating expenditures, the timing of receipt of permits, rights and authorizations, and any and all other timing, development, operational, financial, economic, legal, regulatory and political factors that may influence future events or conditions, as such matters may be applicable. In particular, this Presentation contains forward-looking statements pertaining to proposed expenditures for exploration work, and general and administrative expenses.

Such forward-looking statements are based on a number of material factors and assumptions, and include the ultimate determination of mineral reserves, if any, the availability and final receipt of required approvals, licenses and permits, sufficient working capital to develop and operate any proposed mine, access to adequate services and supplies, economic conditions, commodity prices, foreign currency exchange rates, interest rates, access to capital and debt markets and associated costs of funds, availability of a qualified work force, and the ultimate ability to mine, process and sell mineral products on economically favourable terms. While the Company considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect. Actual results may vary from such forward-looking information for a variety of reasons, including but not limited to risks and uncertainties disclosed in this Presentation. The Company has no specific policies or procedures for updating forward-looking information. Forward-looking statements are based upon management's beliefs, estimates and opinions on the date the statements are made and, other than as required by law, the Company does not intend, and undertakes no obligation to update any forward looking information to reflect, among other things, new information or future events. Potential investors are cautioned against placing undue reliance on forward-looking statements.

This Presentation does not constitute investment advice or a recommendation regarding the securities of the Company or an offer or invitation to subscribe for securities of the Company or its affiliates.

Scientific and technical information in this Presentation, excluding information related to other companies obtained from publicly available sources, has been approved by Prof Garth Earls, Eur Geol, PGeo, FSEG of IGS (International Geoscience Services) Ltd., who is a qualified person for the purposes of National Instrument 43 101 and who is independent of the Company. Scientific and technical information is derived from the technical reports entitled "NI 43-101 Independent Report on a Base Metal Exploration Project at Ballinalack, County Westmeath, Ireland" with an effective date of January 11, 2019, "NI 43-101 Independent Report on the Zinc-Lead Exploration Project at Stonepark, County Limerick, Ireland" with an effective date of April 26, 2018, and "NI 43-101 Independent Report on a Base Metal Exploration Project at Silvermines, County Tipperary, Ireland" with an effective date of February 28, 2017, each of which was prepared for the Company by EurGeol Dr. John G. Kelly, PGeo, MIMMM, MIQ and EurGeol Paul Gordon, PGeo, MSc of SLR Consulting (Ireland) Ltd. in accordance with National Instrument 43-101. Complete copies of the technical reports are available for review, in colour, on the System for Electronic Document Analysis and Retrieval (SEDAR) located at the following website: www.sedar.com.

TSX.V: ZNG, | OTC: GRLVF | FRA: 3GE

2

VISION

Discover Ireland's Next Big Zinc

Mine In Order To Generate

Exponential Shareholder Returns And Local Economic Benefits

Investment Highlights

New High-GradeZinc-Lead-Silver (Germanium) Discovery at the Ballywire Prospect, Ireland

Corporate Overview
Positive Outlook for Zinc	 Base Metals (Zinc and Copper) Will be Increasingly Important for the Global Energy Transition
	Increasing Infrastructure Spending in U.S. and China is Poised to Drive Zinc Demand Growth
	 Ireland - Six Discoveries Brought Into Production Over The Last 60 Years, Reflecting High
Ireland Has Track Record		Grades, Excellent Infrastructure And Proximity To Smelters
	 Ireland Ranks Very Well On Fraser Institutes' Annual Mining Survey
Experienced Team	 Highly Experienced In Irish and Global Zinc Exploration, Capital Markets, Legal and Accounting
Strong Shareholders	 Glencore - Owns 18.1% (Basic) And Has Director on ZNG Board
	Michael Gentile - Owns 15.0% (Basic) and 18.4% (Partially Diluted)
Key Assets
	 New Discovery Announced Sept-2022 Yielding High-Grade Massive Sulphides Over Significant
Ballywire Discovery		Widths and Open For 6km by 2km
	 Located Only 20km From Glencore's Pallas Green Zinc Deposit (45mt of 8.4% Zn+Pb, Inferred)*
Carrickittle West	 Very Compelling Target 5-10km from Glencore's Pallas Green Zinc Deposit*
Valuation Anchors	 Stonepark MRE - 5.1mt of 11.3% Zn+Pb (Inferred; NI43-101; owns 76.56% interest)^
	Ballinalack MRE - 5.4mt of 8.7% Zn+Pb (Inferred; NI43-101; owns 60% interest)+
Upcoming Catalysts	 Follow-Up Drilling at Ballywire (Ongoing, Funded)
	Follow-up Drilling at Stonepark (Including at Carrickittle West prospect)

Footnotes: * Pallas Green MRE is owned by Glencore (see Glencore's Resources and Reserves Report dated December 31, 2022); ^ Stonepark MRE: 'NI 43-101 Independent

Report on the Zinc-Lead Exploration Project at Stonepark, County Limerick, Ireland', by Gordon, Kelly and van Lente, dated April 26, 2018; + Ballinalack MRE: 'NI 43-101 Independent Report on a Base Metal Exploration Project at Ballinalack, Co. Westmeath, Ireland" by Gordon, Kelly and van Lente, date January 11, 2019;

TSX.V: ZNG, | OTC: GRLVF | FRA: 3GE

4

Why Zinc?

Global Zinc Inventories at Decade Lows, Zinc Price Buoyant on Smelter Constraints, Infrastructure

• Green Energy Revolution
• • Zinc-Batteriesfor Grid Power Storage
  • Offshore Wind
  • Solar Farms
• Zinc in Fertilizers
• • China: World Food Program
• Conventional Uses
• • Galvanizing Steel, Die-Casting, Chemicals, Agri. and Pharma.
• Mine supply
• • Recently Falling and Unlikely to Meet Projections
• Infrastructure
• • US and China - to Accelerate Infrastructure Spending?

US$/tonne

4,000

3,000

2,000

Zinc Price vs. Global Inventories (2004 to 2024)

Source: FactSet

Zinc Price (US$/lb) - 5 Year

Source: Trading Economics

2020

2021

2022

2023

2024

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Team - Exploration, Capital Markets and Legal Experience

Board of Directors

Dan MacInnis | Chairman (non-executive)

• Geologist / Executive
• Retired CEO of MAG Silver (sits on MAG Board)
• 40 yrs experience, involved with 7 discoveries
• Spent 5 yrs in Ireland in late 70s with Noranda

Bart Jaworski | Chief Executive Officer

• Geologist / ex Mining Equity Analyst
• 24 yrs experience (co-founder of Group Eleven)
• Including 12 yrs with Raymond James and Davy
• Regional identification of Coffee Creek anomaly

Brendan Cahill | Director (non-executive)

• Law and corporate finance expertise
• Director (CEO: 2012-2022) of Excellon Res. Inc.
• Previously with Pelangio Group of Companies

Alessandro Bitelli | Chair, Audit Cmte. (non-exec)

• Chartered Accountant
• Retired CFO, Lundin Gold (Fruta Del Norte)
• Former CFO of Red Back Resources upon $10bln takeover by Kinross in 2010

Ken Klassen | Director (Glencore appointee)

• 20 year career as Canadian M&A and corporate lawyer at leading Canadian law firms
• Retired (2016) General Counsel of Glencore plc
• Recently on Board of Noranda Income Fund

Management

Jeannine Webb | Chief Financial Officer

• Chartered Professional Accountant with 30 yrs experience
• President of Venturex Consulting Inc.
• Formerly with Badger & Co Management Corp.

David Furlong | Chief Operating Officer

• Geologist with 24 yrs industry experience
• Co-Founderof Group Eleven
• Previously, GM at Rathdowney Resources

Dr Mark Holdstock | Project Manager

• Geologist with over 30 yrs experience
• Led team which discovered >20Mt 'SWEX extension' at Navan mine in Ireland
• Previously, MD at Aurum Exploration Services

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Capital Structure

Share	Owners	Exercise	Expiry Date^	Shares
Structure		Price		(mln)
Basic				200.4
Options	Directors	$0.09-0.11	Oct-25 to Oct-28	1.7
	Officers	$0.09-0.11	Oct-25 to Oct-28	1.9
	Employees	$0.09-0.11	Oct-25 to Oct-28	0.8
Warrants	Investors	$0.12-0.18	Oct-24 to May-26	30.2
	Glencore	$0.12	Oct-24	3.4
F. Diluted				238.4
DSUs	Indep. Directors	n/a	n/a	3.5
Note: ^ above data as of Apr 08, 2024

Other Items
Cash on hand (Q3/23 ending 30Sep + $3.0m PP closed)	C$4.0 mln
Market Capitalization (as at Apr-08-2024 - 23.0c/sh)	C$46.1 mln
Daily Avg Trading Volume (TSX-V and OTC, 3-month)	264,000 shares
52-wk Trading Range (TSX-V)	C$0.06-C$0.28

Ownership (Basic)

Glencore 18.1%

Michael

OthersGentile

61.9%15.0%

Teck 1.7%

Insiders 3.3%

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Why Ireland?

Unrivalled Zinc Potential - Ranked No. 1 in the World for Zinc Found Per Square Kilometre

Greenest Zinc in the World?

• Clean Metallurgy - Coarse, Clean Ores
• Infrastructure Rich - Roads, Power, Tidewater
• Proximity to European Smelters
• Wind Power - 100% by 2030 (Offshore Ramp-Up)

Mining History and Investment

•	6 Mines Permitted Over Last 60 Years
•	Majors - Boliden, Glencore, Teck, South32

Ballinalack

Tara (Boliden, C&M)

Tynagh(shut)

Silvermines

Silvermines(shut)

Galmoy(Shanoon,re-opening)

Fraser Institute (2021)

• No. 1 for 'Policy Perception Index'
• No. 15 for 'Investment Attractiveness'

Group Eleven asset

New Ballywire Discovery

Zinc deposit

Lisheen(Vedanta,shut)

Stonepark	PallasGreen(Glencore)
/ PG West	Gortdrum(Cu,shut)

0 25 50

kilometres

Zinc - small deposit or major occurrence	Source: modified from P. Tyler | Note: Mine ownerships as at time of commercial mining; 'shut' means
	commercial mining ended; 're-opening' refers to Shanoon Resources' plans to re-open mine; 'C&M' means
	temporary care and maintenance

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8

Ballywire - At Intersection of Regional Mineralized Trends

Dominant License Position in Most Metal-Endowed Zinc Camp in Ireland (outside of Navan)

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Ballywire Discovery - Plan View

Robust Zinc-Lead Mineralization Intercepted Over 2.6km, Prospective Trend At Least 6km Long

N

G11-468-06 (60m Step-Out)

10.1m of 8.6% and 46 g/t, incl.

6.0m of 12.4% and 68 g/t, incl.

2.5m of 29.2% and 160 g/t

ABL

97-468-2

2.5m of 6.2% incl

0.5m of 20.3%

WL

G11-468-01

3.3m of 12.5%, 48.3 g/t incl

0.4m of 25.5%, 92.2 g/t

G11-3552-03 (160m Step-Out)

58.0m of 3.1%, 25 g/t, incl.

32.7m of 4.4%, 37 g/t, incl.

11.2m of 8.9%, 83 g/t, incl.

0.7m of 38.7%, 160 g/t and

0.2m of 27.1% and 397 g/t

G11-468-12('Feeder Zone', 80m Step-Out)18.8m of 10.2%, 257 g/t and 0.22% Cu, incl. 10.5m of 14.7%, 399 g/t and 0.31% Cu; and 8.3m of 5.7%, 86 g/t and 0.17% Cu, incl.

4.3m of 8.8%, 149 g/t and 0.31% Cu

G11-468-03 (Discovery Hole)
66.0m of 2.8% and 29 g/t, incl.
10.8m of 10.0% and 109 g/t, incl.
6.9m of 15.4% and 160 g/t, incl.	SWL
2.1m of 40.8% and 385 g/t

SWL

0	250	500	1000

metres

LEGEND

Drill Holes

Significant mineralization (>2.5m of 6.0%) Highly Anomalous (<2.5m of 6.0%)

No mineralization

Inconclusive (target not reached) Cross-Section

Other

• Zn+Pb (or Cu if noted)
  g/t Silver

Interpreted Fault Zone

SWL Supra (above) Waulsortian

WL Waulsortian Limestone

BLN Ballynash Limestone

ABL Argillaceous Bioclastic Lm.

Note: Step-out distances from prior reported cross-section

10