Forge Resources Announces Appointment of Chairman and Director and Issuance of Options

Rhea-AI Summary

Forge Resources Corp. (CSE: FRG) (OTCQB: FRGGF) has appointed Peter Jonathan (PJ) Murphy as Chairman and Director. Murphy brings over 25 years of management experience in healthcare and real estate, with a proven track record in junior mining investments. He holds degrees from McGill University and Dalhousie University.

Murphy expressed enthusiasm for advancing the company's two key projects: the La Estrella coal project in Colombia, which is nearing revenue-generating bulk sample extraction, and the Alotta Project, where all six drill holes have shown significant porphyry mineralization.

Additionally, Forge Resources has issued 2,500,000 stock options to directors, officers, and consultants. These options are exercisable over five years at $0.48 per share, expiring on September 4, 2029.

Positive

• Appointment of experienced Chairman with 25+ years of management experience
• La Estrella coal project nearing revenue-generating bulk sample extraction
• All 6 drill holes at Alotta Project showing significant porphyry mineralization

Negative

• Issuance of 2,500,000 stock options may lead to potential dilution for existing shareholders

Vancouver, British Columbia--(Newsfile Corp. - September 5, 2024) - Forge Resources Corp. (CSE: FRG) (OTCQB: FRGGF) (FSE: 5YZ) ("FRG" or the "Company") is pleased to announce that Peter Jonathan (PJ) Murphy has been appointed as Chairman and Director of the Company.

PJ Murphy is a highly experienced investor with a proven track record of success in the junior mining sector, the broader equity markets, and real estate. With over 25 years of management experience in the healthcare and real estate sectors, Murphy brings exceptional leadership, management skills, and a vast investment network to the team. He has led multiple successful transactions in the real estate and private sector, showing expertise in identifying value investments and working to maximize their potential. He has a Bachelor of Science Degree from McGill University, and a Doctor of Dental Surgery Degree from Dalhousie University.

Chairman and Director, PJ Murphy states: "As the new Director and Chairperson, I look forward to working with the executive, technical, and advisory teams to advance the two excellent projects in the Company's portfolio. With the La Estrella coal project in Colombia on the verge of extracting the revenue generating bulk sample, and all 6 drill holes showing significant porphyry mineralization at the Alotta Project, it's an exciting time to be joining the company. I am dedicated to help guide the Company toward a future defined by integrity and responsibility to drive economic growth and unlock shareholder value."

Issuance of Options

The Company also announces the issuance of an aggregate of 2,500,000 options to certain directors, officers and consultants of the Company (the "Options"). Each Option allows the holder to purchase one common share of the Company (the "Shares") upon the terms and conditions of the applicable agreement. 2,300,000 of the Options were issued to insiders of the Company and 200,000 of the Options were issued to a consultant of the Company. All of the Options are exercisable over a five-year term expiring September 4, 2029 at a price per Share of $0.48.

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. 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.

On behalf of the Board of Directors
"Cole McClay", CEO Forge Resources Corp.
info@forgeresourcescorp.com
604-271-0826

Forward-Looking Statements
Certain of the statements made and information contained herein may contain forward-looking information within the meaning of applicable Canadian securities laws. Forward-Looking information includes, but is not limited to, information concerning the Company's intentions with respect to the development of its mineral properties. Forward-Looking information is based on the views, opinions, intentions and estimates of management at the date the information is made, and is based on a number of assumptions and subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated or projected in the forward-looking information (including the actions of other parties who have agreed to do certain things and the approval of certain regulatory bodies). Many of these assumptions are based on factors and events that are not within the control of the Company and there is no assurance they will prove to be correct. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change except as required by applicable securities laws, or to comment on analyses, expectations or statements made by third parties in respect of the Company, its financial or operating results or its securities. The reader is cautioned not to place undue reliance on forward-looking information. We seek safe harbor.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/222225

FAQ

Who is the new Chairman and Director of Forge Resources Corp (FRGGF)?

Peter Jonathan (PJ) Murphy has been appointed as the new Chairman and Director of Forge Resources Corp (FRGGF).

What experience does PJ Murphy bring to Forge Resources Corp (FRGGF)?

PJ Murphy brings over 25 years of management experience in healthcare and real estate, along with a proven track record in junior mining investments.

What are the key projects mentioned for Forge Resources Corp (FRGGF)?

The key projects mentioned are the La Estrella coal project in Colombia, which is nearing bulk sample extraction, and the Alotta Project, where all six drill holes have shown significant porphyry mineralization.

How many stock options did Forge Resources Corp (FRGGF) issue on September 5, 2024?

Forge Resources Corp (FRGGF) issued 2,500,000 stock options to directors, officers, and consultants on September 5, 2024.