Forge Resources Corp Announces Portal Groundbreaking and Strategic Appointments to Strengthen Project Development Team at Fully Permitted Coal Project, Colombia

Vancouver, British Columbia--(Newsfile Corp. - November 20, 2024) - Forge Resources Corp. (CSE: FRG) (OTCQB: FRGGF) (FSE: 5YZ) ("FRG" or the "Company") is pleased to announce a significant milestone in the development of its mining operations, highlighted by the successful groundbreaking of the decline portal at Aion Mining Corp's La Estrella coal project in Colombia.

This marks the beginning of an exciting new phase in the Company's strategic growth. In addition, Forge is pleased to welcome two highly experienced mining professionals to its leadership team: Guillermo Leon, who has been appointed as Mine Manager, and Mario Alonso Alzate Ferrer, as Senior Mining Engineer responsible for mine plan development and ongoing project oversight.

Groundbreaking Marks Key Milestone

Forge's executive team, along with key stakeholders, recently visited the La Estrella site to witness the groundbreaking of the mine portal. This pivotal moment underscores the Company's commitment to advancing its project towards advancing its underground exploration and bulk sampling initiatives and creating significant value for shareholders. The establishment of the mine portal marks a critical step in the development timeline and lays the foundation for future exploration and extraction efforts at the site.

Cole McClay, CEO of Forge Resources Corp. states: "We are thrilled to reach this important milestone. The groundbreaking of the mine portal is a tangible representation of the progress we are making towards developing its underground operations. It signals the beginning of what we believe will be a highly productive phase for Forge as we move forward with our development strategy."

Figure 1 - Portal site construction commences November 12, 2024

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Figure 2 - CEO, Cole McClay and Mine Manager, Guillermo Leon review portal design

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Figure 3 - Chairman, PJ Murphy inspects pilot hole samples indicating rock quality for decline development

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Strategic Appointments Strengthen Development Team

Forge is also excited to announce the addition of two accomplished mining engineers to its team, further strengthening its operational and engineering capabilities.

• Guillermo Leon is a bilingual Mining and Metallurgy Engineer with over 25 years of experience in the mining industry, specializing in coal mine planning, production, and operational management. He has held leadership roles in multinational mining companies, such as Glencore, BHP Billiton, and Prodeco Group, and in the Colombian National Mining Agency. Notable qualifications include, establishing organizational structures for mining operations, and serving as a certified Qualified Person for coal reserve estimation under Colombian and international standards. His career demonstrates a commitment to safety, efficiency, and process improvement, with a proven record of leadership. Guillermo holds advanced management and engineering qualifications and has significant experience in environmental and regulatory compliance within the mining field.

• Mario Alonso Alzate Ferrer is a highly experienced Mining and Metallurgy Engineer with 50 years in the coal mining industry. A graduate of the National University of Colombia and certified as a Qualified Person by the Colombian Commission of Resources and Reserves. His career includes roles in mine planning, resource and reserve estimation, operations management, and project implementation. Highlights of his qualifications include implementing advanced longwall mining methods in coal operations, and conducting specialized studies in hydrogeology, ventilation, and mining subsidence. Currently an independent consultant, he has contributed to strategic mining plans, resource categorization, and infrastructure design for various mining projects across Colombia.

PJ Murphy, Chairman of Forge Resources Corp. states: "We are excited to have Guillermo and Mario on the technical team. Their combined expertise and leadership will be invaluable as we continue to develop the La Estrella coal project. Both bring a wealth of experience and a proven track record in the mining sector, which will be instrumental in helping us execute our plans and achieve our objectives."

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, with an LOI in place to acquire up to 60% 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.

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