Mr. Cole McClay reports

FORGE RESOURCES ANNOUNCES COMPLETION OF PHASE 1 DRILL PROGRAM AND COMPLETION OF PRIVATE PLACEMENT

Forge Resources Corp.'s phase 1 diamond drilling program that started in November, 2023, is now complete with the successful completion of six holes, each ranging between 420 to 502 metres in length. Additionally, further to its news release dated June 14, 2024, the company has completed its non-brokered flow-through private placement.

All geotechnical and geological data have now been collected. All holes are sampled top to bottom with the majority of sample batches have already been submitted to the ALS prep-lab in Whitehorse. Significantly, higher molybdenum and plus/minus chalcopyrite concentrations and more quartz veining, micro-veining and stockworks were encountered in this year's drilling than in November, 2023.Significant porphyry style rock types, alteration and mineralization were encountered in all holes. Majority of the rock types are sparse to semi-crowded to crowded porphyry intrusives related to the Dawson Range. Pervasive brown biotite alteration with extensive silicification overprinting is occurring in all holes.

Assay results are pending.

Phase 2 diamond drilling program is being proposed for this summer when all assays have been received and analyzed from the phase 1 program. It is anticipated that further drilling will be required in areas previously tested. Additional high-quality target areas not yet drill tested will be included in the next drilling program.

Private placement

The company is issuing 687,500 units at a price of 80 cents per unit for an aggregate gross proceeds of $550,000, with each unit consisting of one flow-through common share and one transferable non-flow-through share purchase warrant. Each warrant will be exercisable for one non-flow-through common share of the company at a price of $1.10 per warrant share for a period of one year from the date of issuance.

The shares will qualify as flow-through shares within the meaning of Subsection 66(15) of the Income Tax Act (Canada) and the expenditures will qualify as flow-through mining expenditures (as defined in Subsection 127(9) of the tax act).

Upon the closing of the private placement, the company will pay a finder's fee split evenly amongst two finders as follows: (i) a cash commission in the amount of $15,000 each, equal to 3 per cent of the gross proceeds of the private placement attributable to the finders; and (ii) 18,750 each in non-transferrable warrants of the company, equal to 3 per cent of the units issued in the private placement attributable to the finders. Each finder warrant will be exercisable for one warrant share at a price of $1.10 per warrant share for a period of one year from the date of issuance.

The gross proceeds from the units will be utilized for incurring Canadian exploration expenses and flow-through mining expenditures (as defined in the tax act). The gross proceeds from the sale of units will be used for general exploration expenditures on the Alotta project.

Qualified person

Lorne Warner, PGeo, and president of Forge Resources, 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.

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 the Yukon Territory of 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.