Turn your panel over (Make sure you don't have anything on the table that will scratch the formica) and drill 1/2" holes in the center of your 1 1/8" holes, then flip it back over and use your router with laminate trimming bit to make the actual hole, the 1/2" hole should let you pop your bit right through. Also make sure your router is clean before you do it so you dont scratch the laminate.