Mr. Peter Murphy reports

FORGE RESOURCES ANNOUNCES CLOSING OF SIGNIFICANTLY OVERSUBSCRIBED PRIVATE PLACEMENT

Forge Resources Corp. has closed its significantly oversubscribed non-brokered private placement. Further to its press release dated Jan. 24, 2025, and on receipt of Canadian Securities Exchange approval, the company will issue an aggregate of 6,591,995 units at a price of 55 cents per unit for aggregate gross proceeds of $3,625,597.25. This amount surpassed the company's previously announced target of $2.5-million.

Each unit consists of one common share of the company and one common share purchase warrant. Each warrant entitles the holder to purchase one common share of the company for a period of five years following the issuance thereof at an exercise price of 70 cents per warrant share. Upon closing of the offering, the company paid finders' fees to three finders. To the first, a cash commission of $22,000 and 40,000 finders' warrants exercisable for a period of five years from the closing of the private placement at an exercise price equal to the offering price. To the second, 27,564 shares and 27,564 finders' warrants. To the third, 36,364 shares and 36,364 finders' warrants. All securities issued are subject to a statutory holder period of four months and one day from the date of issuance.

Peter Jonathan Murphy, the chief executive officer of the company, participated in the private placement, purchasing a total of 909,090 units for a total price of approximately $500,000, representing 13.8 per cent of the units issued.

Mr. Murphy stated: "We are delighted to announce the successful completion of our latest financing, which was oversubscribed beyond our expectations. This incredible support from our investors is a testament to the confidence they have in our vision and strategy. With these funds, we are poised to complete our proposed deal with Aion Mining Corp., as well as support our ongoing operational expenses. This marks a significant milestone for our company and underscores our commitment to creating value for our shareholders and partners. The future is bright, and we are excited to embark on this next phase of growth together."

The company plans to use the proceeds to bring its total interest in Aion Mining up to 60 per cent in order to further the development of the La Estrella project, and toward option payments on the Alotta project and for general working capital.

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. The company holds a 40-per-cent interest, with a letter of intent in place to acquire up to a 60-per-cent interest, in Aion Mining, 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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