Group Eleven Secures $5 Million in Private Placement

Group Eleven Resources, a junior mining company listed on the TSX Venture Exchange, has announced a significant development in its efforts to advance its zinc exploration projects. The company has secured a $5 million bought deal private placement, which is expected to provide the necessary funding to drive its exploration activities forward. This private placement is a major milestone for Group Eleven, as it will enable the company to accelerate its drilling programs and further explore its promising zinc projects. The company’s management team is confident that this funding will help to unlock the potential of its properties and create value for its shareholders. Group Eleven’s zinc projects are located in the Republic of Ireland, a region known for its rich mineral deposits and favorable mining regulations. The company’s flagship project, the Stonepark zinc project, is a highly prospective property that has already shown significant zinc mineralization. With the new funding, Group Eleven plans to conduct extensive drilling programs to further define the mineral resources at Stonepark and explore other high-priority targets. The private placement is expected to consist of 12,500,000 units, with each unit comprising one common share and one-half of one common share purchase warrant. The proceeds from the private placement will be used to fund the company’s exploration activities, as well as for general corporate purposes. Group Eleven’s management team is committed to creating value for its shareholders and is excited about the potential of its zinc projects. The company’s exploration programs are designed to identify new mineral resources and expand the existing resources at its properties. The zinc market is expected to remain strong in the coming years, driven by growing demand from the steel and galvanizing industries. Group Eleven is well-positioned to benefit from this trend, with its high-quality zinc projects and experienced management team. The company’s shares are listed on the TSX Venture Exchange under the symbol ZNG. With the new funding in place, Group Eleven is poised to make significant progress in the coming months and create value for its shareholders. The company’s zinc projects have the potential to become major producers, and the private placement is an important step towards achieving this goal. Group Eleven’s management team is confident that the company’s shares will continue to perform well, driven by the strong fundamentals of the zinc market and the company’s promising exploration projects.

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