Vancouver, British Columbia--(Newsfile Corp. - June 25, 2025) - Forge Resources Corp. (CSE: FRG) (OTCQB: FRGGF) (FSE: 5YZ) ("FRG" or the "Company"), is pleased to announce the successful completion of Phase 1 drilling in its planned two-phase exploration program for 2025, and options.
The initial phase consisted of 5 drill holes, totaling 1,420 metres of core drilling, aimed at advancing the company's understanding of its key mineral assets. Preliminary observations indicate promising core samples with continued visual confirmation of visible gold, porphyry mineralization, veining and alteration in drill holes to date. The Phase 1 drilling program was designed to test high-priority targets and provide valuable geological insights to refine drill targets for Phase 2 of exploration this summer.
PJ Murphy, CEO states: "We are extremely encouraged by the progress and observations made in the first phase of drilling and look forward to receiving assay results that will help shape our next steps. Forge remains focused on executing its exploration strategy efficiently and responsibly, with Phase 2 drilling expected to commence within the coming weeks."
Assays pending. The company will provide further updates as results become available.
Issuance of Options
The Company also announces the issuance of an aggregate of 500,000 options to a consultant of the Company (the "Options"). Each option allows the holder to purchase one common share of the Company (each a "Share") upon the terms and conditions of the option agreement. The Options are exercisable over a two-year term expiring on June 25, 2027, at a price per Share of $0.62.
Proximity to Proven and Probable Resources
The Alotta property now consists of 230 mineral claims that covers approximately 4,723 hectares in a similar geological setting to Western Copper and Gold's Casino deposit, that is located 50 km to the south-east. The Casino deposit is one of the largest undeveloped copper-gold porphyry mining projects in the world.
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 consisting of 230 mineral claims that cover 4,723 hectares, 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.
In addition, the Company holds an 80% 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.
Qualified Person
Lorne Warner, President and P. Geo, is a qualified person as defined by National Instrument 43-101 and has reviewed and approved the scientific and technical disclosure in this news release.
On behalf of the Board of Directors
"PJ Murphy", CEO Forge Resources Corp.
info@forgeresources.com
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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