Forge Resources Provides Update on Portal Design and Environmental Advancements at Fully Permitted Coal Project, Colombia

Vancouver, October 9, 2024 - Forge Resources Corp. (CSE: FRG) (OTCQB: FRGGF) (FSE: 5YZ) ("FRG" or the "Company") is pleased to announce the company has completed its portal design, and additional environmental advancements at the fully permitted La Estrella Coal Project in Santander, Colombia.

The new portal will provide surface access to develop the decline towards coal resources and is the first significant step in securing the first 20,000 Mt bulk sample of metallurgical and thermal coal. Earthworks specific to the construction of the portal have begun, and portal construction is expected to commence by the end of October. The portal design is intended to enhance operational efficiency and minimize environmental impact. Key elements include advanced ventilation systems, reinforced structural supports, and safety features to protect workers and the surrounding environment.

Cole McClay, CEO of Forge Resources, states: "Forge Resources, together with Aion Mining, is making strides on its coal project in Colombia. Completing the portal design and final preparations before going underground is crucial for our advancement. Our main objective is to obtain a significant and valuable bulk sample, which will provide critical data for informed decisions and enhance the project's success."

As previously announced on August 28, 2024, Forge Resources Corp has contracted two highly experienced professionals to ensure stability in the area surrounding the portal and decline:

Enrique Estrada - Senior Mining and Metallurgical Engineer with over 35 years of experience in the mining industry, specializing in underground coal, copper, and gold mines. His expertise includes production engineering, quality control, and operations management.

Luis Carlos Herrera - Senior Civil Engineer with more than 25 years of experience in civil engineering, water management, and surface engineering projects. Herrera will guide the surface works required to prepare the commencement of the bulk sampling program.

Environmental Licence Updated

Corporacion Autónoma Regional de Santander ("CAS" or "Environmental Authority") has completed a site visit and provided analysis of the scope of the environmental license and remains confirmed by the CAS. This process involves cross-checking of information and obligations in accordance with CAS guidelines. Training plan with an emphasis on environmental education has been implemented.

Environmental Engineer Contracted

Alejandra Gutiérrez Ardila - Environmental Engineer specializing in the Environmental Assessment of Projects, with 3 years of experience working within the Colombian Environmental Authority. Alejandra has knowledge of the application of the current environmental regulatory framework in Colombia, water and carbon footprint assessments, environmental impact assessment, management and compensation measures. Alejandra holds a degree in Environmental Engineering from UNISANGIL University, and a specialization in Environmental Assessment of Projects from Manuela Beltrán University.

About Forge Resources Corp.

Forge Resources Corp. is a Canadian-listed junior exploration company focused on exploring and advancing the Alotta project, a prospective porphyry copper-gold-molybdenum project located 50 km south-east of the Casino porphyry deposit in the unglaciated portion of the Dawson Range porphyry/epithermal belt in the Yukon Territory of Canada. The Company holds a 40% interest in Aion Mining Corp., a company that is developing the fully permitted La Estrella coal project in Santander, Colombia. The project contains eight known seams of metallurgical and thermal coal.

Forward-Looking Statements

Certain of the statements made and information contained herein may contain forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking information includes, but is not limited to, information concerning the Company's intentions with respect to the development of its mineral properties. Forward-looking information is based on the views, opinions, intentions and estimates of management at the date the information is made, and is based on a number of assumptions and subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated or projected in the forward-looking information (including the actions of other parties who have agreed to do certain things and the approval of certain regulatory bodies). Many of these assumptions are based on factors and events that are not within the control of the Company and there is no assurance they will prove to be correct. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change except as required by applicable securities laws, or to comment on analyses, expectations or statements made by third parties in respect of the Company, its financial or operating results or its securities. The reader is cautioned not to place undue reliance on forward-looking information. We seek safe harbor.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/226112