Mr. Cole McClay reports
FORGE RESOURCES REPORTS SECOND QUARTER 2024 FINANCIALS AND MILESTONE SUMMARY
Forge Resources Corp. has filed its interim financial statements and MD&A (management's discussion and analysis) for the second quarter ended Feb. 29, 2024, on SEDAR.
Key milestone dates for the three and nine months ended February 29, 2024:April 18, 2024 - the Company changed its name and ticker symbol from Benjamin Hill Mining Corp. (CSE: BNN) to Forge Resources Corp (CSE: FRG).April 18, 2024 - announced target areas for drill program to commence in the spring of 2024 consisting of 5 drill holes for a total of 2,500 metres as part of the continuation of the fall 2023 diamond drilling program. Additionally, the Company announced the staking of 18 new claim blocks, totalling approximately 376 hectares. The Alotta property now consists of a total of 96 mineral claims that cover approximately 1,926 hectares.
April 16, 2024 - signed a definitive agreement with Aion Mining Corp. ("Aion') to complete a further acquisition in Aion to bring the Company's total interest to 40%. Pursuant to the agreement, the Company acquired common shares of Aion to bring the total ownership of the Company to 40%, calculated on a fully diluted basis.
March 26, 2024 - closed an oversubscribed private placement comprising 8,352,750 units $0.64 per unit for gross proceeds of $5,345,760.February 29, 2024 - released assay results from the inaugural diamond drill holes that intercepted 211.65 metres of 0.46 gram per tonne gold in extensive porphyry-style mineralization at the Alotta gold-copper-molybdenum target in west-central Yukon.
December 14, 2023 - signed a definitive agreement with Aion Mining Corp. ("Aion") to complete the Company's acquisition of a 20% interest in Aion. Pursuant to the agreement, the Company acquired common shares of Aion representing a 20% interest, calculated on a fully diluted basis.
November 2, 2023 - closed a non-brokered private placement comprising of 2,480,000 flow-through units at $0.25 per FT Unit for proceeds of $620,000 and 840,000 non-flow-through units at $0.25 per NFT Unit for proceeds of $210,000. Total proceeds of $730,000.November 28, 2023 - completed two NQ size diamond drill holes ALT-23-01/02 for a total of 842 metres at the Alotta project. Both holes exhibited multiple intrusive phases including intrusive breccias displaying strong biotite alteration, carbonate veining, and pyrrhotite, pyrite, chalcopyrite and molybdenite mineralization as interstitial clots and stringers.
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.
In addition, 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.
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