Mr. Cole McClay reports

FORGE RESOURCES ANNOUNCES MOBILIZATION DATE FOR SPRING DRILL PROGRAM AT ALOTTA PROJECT

Forge Resources Corp. has scheduled the start of mobilization for May 18, 2024, of equipment and fuels to commence the re-establishment of camps and construction of drill pads. On or about May 24, 2024, drill crews will travel to site and commence drill testing of the priority targets.

Lorne Warner, PGeo, president of Forge Resources, stated: "We are excited to restart our phase 1 drilling program. Based on last year's successful results and quality of targets, we have high expectations of further success. I anticipate being in camp for most of the drilling to help guide the program and observe the cores alongside our partnered operators, Archer Cathro."

Drill plan recap

The company is proposing to complete up to five drill holes for a total of 2,500 metres as part of the continuation of the fall 2023 diamond drilling program that paused in for the winter season.

As announced on April 18, 2024, the proposed holes will focus on several high-priority and undrilled tested coincident geochemical/geophysical anomalies along a four-kilometre trend. Archer Cathro has created a preliminary drill plan for the 2024 Alotta field program to test for porphyry-style mineralization on the property. The plan is designed to test the best drill targets based on merit. The company plans to commence further reconnaissance drill testing on the Payoff and Severance target areas this spring. These areas are situated in closer proximity to the core area of coincident soil and geophysical anomalies, with previous rock sampling confirming the occurrence of copper and gold mineralization.

Payout and Severance zones

The two primary targets on the property are the Payout and Severance zones, located in the west-central and east-central parts of the property. These two zones have significant surface mineralization, which comprise highly anomalous gold, copper and molybdenum values from rock and soil samples. These targets represent the areas of the property with significant (greater than one gram per tonne gold) rock values on surface.

For preliminary drilling, a total of four holes are recommended to test surface mineralization and geophysical anomalies at depth. At both targets, the first hole is designed as a shallow angle hole to test the extent of mineralization directly beneath the prospective area while the second is steeper to test for deeper mineralization and corresponding chargeability/resistivity anomalies present in the vicinity.

Alimony and Commission targets

In a later drilling phase, the company has two additional drill targets to test. The Alimony target is a significant 1,200-metre by 500 m molybdenum-gold soil anomaly that coincides with overlapping chargeability and resistivity anomalies. In the eastern part of the property, the Commission target is defined by a 1,500-metre-by-1,000-metre gold-copper-molybdenum soil anomaly, which corresponds to magnetic low to moderate response. A well-constrained resistivity anomaly is present that coincides with strongly anomalous gold and copper soil values.

Fall 2023 program results

In November, 2023, two drill holes were completed on the property, which confirmed the porphyry-style nature of mineralization. As announced on Feb. 24, 2024, hole ALT-23-01 intercepted 211.65 metres of 0.46 gram per tonne gold from the first-ever diamond drill hole on the property.

Proximity to proven resources

The Alotta property consists of 96 mineral claims that cover approximately 1,926 hectares that is located 50 kilometres southeast of Western Copper and Gold's Casino deposit. The Casino deposit is one of the most economic, greenfield copper-gold mining projects in the world which is ranked as one of the top 10 largest, undeveloped copper-gold porphyry deposits in the world. Western Copper and Gold announced on April 30, 2024, the completion of its bought deal public offering with gross proceeds of $46-million. Subsequently, on May 6, 2024, it announced the completion of a further $5-million financing with Rio Tinto.

About Forge Resources Corp.

Forge Resources is a Canadian-listed junior exploration company focused on exploring and advancing the Alotta project, a prospective porphyry copper-gold-molybdenum project located 50 kilometres southeast of the Casino porphyry deposit in the unglaciated portion of the Dawson Range porphyry/epithermal belt in Yukon, Canada.

In addition, the company holds a 40-per-cent 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.

We seek Safe Harbor.