FORGE RESOURCES CORP - FRGGF STOCK NEWS

Forge Resources Corp (CSE: FRG) (OTCQB: FRGGF) has announced an extension of the exclusivity period for its non-binding letter of intent (LOI) with Aion Mining Corp until February 7, 2025. The transaction involves FRG acquiring additional Aion shares for $5,000,000, consisting of $4,000,000 in cash and $1,000,000 in FRG common shares at closing price.

The deal includes anti-dilution rights for 12 months post-closing and a 4-year right of first refusal on Aion's equity financings, allowing FRG to maintain a 60% controlling position in Aion's voting securities. The transaction remains subject to due diligence, necessary approvals, and a definitive agreement. Notably, Aion is a non-arm's length party due to shared director Cole McClay and officer Camilo Cordovez.

Forge Resources Corp (CSE: FRG, OTCQB: FRGGF) has extended its exclusivity period to January 16, 2025, regarding its non-binding letter of intent to acquire additional shares in Aion Mining Corp. The proposed transaction aims to increase Forge's ownership to 60% of Aion for $5,000,000, consisting of $4,000,000 in cash and $1,000,000 in common shares.

The deal includes anti-dilution rights for 12 months post-closing and a 4-year right of first refusal on Aion's equity financings. Aion plans to use the proceeds for the La Estrella project, including underground decline development and operational expenses. The company has completed its audit for fiscal years 2022-2023 by WDM Chartered Accountants and received an independent valuation from Evans and Evans, Inc.

Forge Resources Corp (CSE: FRG) (OTCQB: FRGGF) has announced strategic changes in its senior leadership. PJ Murphy, the current Chairman of the Board, has been appointed as the new Chief Executive Officer (CEO), while Cole McClay, who has served as CEO since February 2021, will transition to the role of Chief Operating Officer (COO), effective immediately.

This reorganization aims to strengthen the company's focus on corporate awareness and project development. McClay will oversee day-to-day operations and project development, while Murphy will concentrate on stakeholder engagement and strategic leadership, leveraging his experience in capital markets to build relationships with investors.

Forge Resources Corp (CSE: FRG) (OTCQB: FRGGF) has announced two key appointments to strengthen its leadership team. Camilo Cordovez Amador joins as Vice President of Finance, bringing 16 years of experience in investment banking and asset management. His track record includes advising on projects exceeding $100M and working with funds managing over $700M in assets. Additionally, Patrick Bonner has been appointed as Special Advisor, contributing 25 years of leadership experience and holding an 8% stake in the company. Bonner's expertise spans junior mining, equity markets, and real estate sectors.

Forge Resources Corp has unveiled design plans for a mine portal construction at the La Estrella Coal Project in Santander, Colombia. The portal, which began construction on November 20, 2024, will provide essential infrastructure for underground bulk sampling mining exploration. The design includes specialized soil support systems and focuses on environmental and safety standards. The portal will serve as the initial access point for constructing a decline ramp, enabling access to deeper coal seams for further exploration and development activities.

Forge Resources Corp (CSE: FRG) (OTCQB: FRGGF) announces groundbreaking of the decline portal at La Estrella coal project in Colombia, marking a significant milestone in its mining operations development. The company strengthens its project development team with two key appointments: Guillermo Leon as Mine Manager and Mario Alonso Alzate Ferrer as Senior Mining Engineer. Leon brings 25 years of mining industry experience, having worked with Glencore, BHP Billiton, and Prodeco Group. Ferrer contributes 50 years of coal mining expertise and is certified as a Qualified Person by the Colombian Commission of Resources and Reserves.

Forge Resources Corp announces the start of construction on a mine portal at Aion Mining Corp's La Estrella project in Santander, Colombia. Construction is set to begin mid-November 2024, with all necessary permits granted for underground development. The portal will enable access to high-grade metallurgical and thermal coal seams, allowing for underground decline development and extraction of a minimum 20,000 metric tonnes bulk sample. The company also announces an executive site visit scheduled for November 12-13, where executives will review progress and discuss strategic plans. Additionally, the team will explore opportunities to expand their coal project portfolio by evaluating additional Colombian coal concessions.

Forge Resources Corp. (CSE: FRG) (OTCQB: FRGGF) has completed the portal design for its La Estrella Coal Project in Santander, Colombia. The portal will provide surface access to develop the decline towards coal resources, aiming to secure a 20,000 Mt bulk sample of metallurgical and thermal coal. Earthworks have begun, with portal construction expected to start by late October.

The company has contracted experienced professionals, including Enrique Estrada (Senior Mining and Metallurgical Engineer) and Luis Carlos Herrera (Senior Civil Engineer), to ensure stability in the portal area. Additionally, the environmental license has been updated following a site visit by the Corporacion Autónoma Regional de Santander (CAS). Forge Resources has also hired Alejandra Gutiérrez Ardila, an Environmental Engineer, to support the project's environmental aspects.

Forge Resources Corp. (CSE: FRG) (OTCQB: FRGGF) (FSE: 5YZ) has commissioned a detailed structural analysis study for its Alotta Gold-Copper-Molybdenum Porphyry Project in Yukon. The study aims to identify structural relationships and preferred orientations to higher grade gold mineralization, utilizing diamond drilling data collected to date. Key aspects of the study include:

• Analysis of orientated 2024 drill cores
• Staining of select core samples for plagioclase and K-spar
• Re-evaluation of geophysical data, focusing on induced polarization
• Determination of optimal drill orientations for future testing

The study's findings will guide future drilling efforts to target both disseminated and fracture controlled gold mineralization more effectively at Alotta.