Forge Resources Corp. - FRGGF STOCK NEWS

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.

Forge Resources Corp. (CSE: FRG) (OTCQB: FRGGF) has signed a non-binding letter of intent (LOI) to acquire a controlling interest in Aion Mining Corp., aiming to increase its shareholding to 60% on a post-closing, fully-diluted basis. The proposed transaction involves a $5 million consideration, comprising $4 million in cash and $1 million in Forge common shares. Forge will receive anti-dilution rights for 12 months post-closing and a right of first refusal on Aion's equity financings for 4 years.

The deal is subject to customary conditions, including due diligence and necessary approvals. Notably, Aion has recently completed an audit of its financial statements for 2022 and 2023, and an independent valuation has affirmed the company's asset value. This strategic move aims to enhance Forge's resource portfolio, particularly with Aion's fully permitted La Estrella coal project.

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.

Forge Resources Corp (CSE: FRG) (OTCQB: FRGGF) has announced significant progress at its fully licensed coal project in Colombia. Key developments include:

1. Completion of pilot hole drilling for the 170-meter underground decline, reaching a depth of 175 meters.

2. Engineered site preparation, including drainage systems, slope stability studies, and environmental measures like hydroseeding and tree planting.

3. Camp construction advancements, with completed cafeteria and kitchen areas.

4. Strategic team expansions, hiring experienced professionals Enrique Estrada (Senior Mining and Metallurgical Engineer) and Luis Carlos Herrera (Senior Civil Engineer).

These developments are important for the project's progress towards securing a valuable bulk sample, which will provide essential data for informed decision-making and contribute to the project's overall success.

Forge Resources Corp. (CSE: FRG) (OTCQB: FRGGF) has filed a Business Acquisition Report on SEDAR+ for its 40% stake in Aion Mining Corp, a fully permitted coal project in Santander, Colombia. The report is supported by an audit and independent valuation. Key highlights include:

1. Successful completion of an audit by WDM Chartered Accountants for Aion Mining's financial statements for fiscal years ending December 31, 2022, and 2023.

2. An independent valuation conducted by Evans and Evans, Inc., a Chartered Business Valuator (CBV), affirming the company's asset value.

These developments underscore Forge Resources' commitment to strategic growth and provide a clear perspective on the company's financial standing and strategic positioning.

Forge Resources Corp. (CSE: FRG) (OTCQB: FRGGF) has initiated pilot drilling for underground decline development at its fully permitted coal project in Colombia. The company aims to access six coal seams through a 170-meter decline and crosscut, preparing for a 20,000-tonne bulk sampling program. Historical drilling shows coal quality averaging 12,400 BTU, with some samples reaching 13,900 BTU. The project is currently permitted for 180,000 tonnes per year.

CEO Cole McClay expressed confidence in the project's potential to meet global coal demands and drive value for shareholders. The company anticipates averaging $200-$250 CAD per tonne for the bulk sample offtake, with an agreement already in place with a major Colombian coal trader.

Forge Resources Corp. (FRGGF) has announced significant results from its 2024 diamond drilling program at the Alotta Project in Yukon. The company completed 1,815 meters of drilling in four holes, discovering additional porphyry-style mineralization at previously untested targets. Key highlights include:

1. Expansion of land package by 55%, now covering 4,343 hectares

2. Every drill hole intercepted potentially economic gold concentrations, mostly near the surface

3. Drill hole ALT-24-001 intersected 102.14 meters grading 0.275 g/t gold

4. The company plans to advance future drill programs with shorter holes to test more high-priority targets over the 1.0 x 4.0 km prospective area

These results demonstrate the potential for a large porphyry system at Alotta, with Forge Resources focusing on achieving higher gold grades and understanding the project's true potential.

Forge Resources (CSE: FRG, OTCQB: FRGGF, FSE: 5YZ) has successfully completed its Phase 1 diamond drilling program, initiated in November 2023. The program included six holes, each 420-502 meters long, revealing significant porphyry-style rock types, alterations, and mineralizations. Higher concentrations of molybdenum and chalcopyrite were observed compared to previous drilling. Assay results are pending, with Phase 2 drilling proposed for the summer after analysis.

The company also completed a non-brokered private placement, issuing 687,500 units at $0.80 per unit, raising $550,000. Each unit includes one flow-through common share and one transferable non-flow-through share purchase warrant, exercisable at $1.10 for one year. Proceeds will fund Canadian exploration expenses. A finder's fee of $30,000 and 37,500 warrants was issued.

Forge Resources Corp. (CSE: FRG, OTCQB: FRGGF, FSE: 5YZ) announced the extension of its Phase 1 drilling program due to promising visual observations indicating a mineralized porphyry system.

Drill holes ALT-24-003 and ALT-24-004 exhibit intense alteration and mineralization. Hole ALT-24-003 reached a depth of 405 meters, revealing extensive alteration and mineralization.

The company has staked and filed for 29 new claim blocks, totaling 940.9 hectares, expanding its Alotta property to 2,866.9 hectares.

Forge Resources will fund the program through a non-brokered private placement of up to 750,000 units at $0.80 each, aiming to raise $600,000.