Vancouver, British Columbia--(Newsfile Corp. - April 10, 2025) - Forge Resources Corp. (CSE: FRG) (OTCQB: FRGGF) (FSE: 5YZ) ("FRG" or the "Company") is pleased to share progress on the La Estrella coal project. With the main portal construction fully completed (Figure 1), underground work on the 170-metre decline is advancing steadily to access high quality coal seams for the 20,000-tonne bulk sampling program. Additionally, the Company has invested in new materials and equipment to support development efforts, ensuring the project stays on track for its revenue-generating goals.
PJ Murphy, CEO of Forge Resources, stated:"As we continue to make significant progress at our fully permitted La Estrella coal project, I am immensely proud of the strides our team has achieved. The active underground development is underway, complemented by the completion of critical site fixturing and the procurement of key equipment to support the current phase of operations. We are making significant progress on our growth strategy at Forge Resources Corp."
The Company is currently evaluating multiple proposals and designs (Figure 2) for the construction of the on-site housing facilities to accommodate our expanding team of miners and engineers. This initiative reflects our commitment to providing comfortable, efficient, and secure housing solutions that enhance the well-being and productivity of our workforce. The implementation of onsite accommodations will enable all shifts to remain on location, ensuring seamless operational continuity and significantly reducing transit times for our dedicated personnel. We anticipate commencing construction of the mining camp promptly upon finalizing the design and selecting the construction partner.
Additionally, Forge Resources Corp is dedicated to utilizing local labor and sustainably sourced materials for the construction of the mining camp facilities. By employing skilled workers from the surrounding communities and integrating eco-friendly building practices, the project supports economic development in the region while aligning with our commitment to environmental stewardship. The cost advantages of building in Colombia further amplify the value of this initiative, enabling efficient resource allocation while delivering high-quality housing solutions. This approach not only strengthens community ties but also ensures the construction process is economically beneficial.
Figure 2. Proposed floor plans for camp accommodations
Forge's executive team continues to actively pursue opportunities to enhance its portfolio of Colombian coal projects. Preliminary discussions are currently being held to explore the potential acquisition of new concessions, including those already in production and others progressing through the permitting process. These efforts align with the Company's dedication to sustainable and responsible resource development.
Marketing
The Company has entered into a marketing and distribution service agreement with an arm's-length marketing firm Machai Capital Inc. of Vancouver, B.C., to provide digital marketing services to increase corporate awareness for a term of 3 months starting April 10, 2025. The media disseminated will be generated using publicly available information. The Company will pay Machai a cash fee of $285,000 CAD, plus applicable taxes. Machai does not currently own any shares of the company. Machai is a marketing, advertising and public awareness firm specializing in advertising and public awareness in the metals and mining, technology, and special situation sectors.
About Forge Resources Corp.
Forge Resources Corp. is a Canadian-listed junior exploration company. The Company holds a 60% interest in Aion Mining Corp., a company that is developing the fully permitted La Estrella coal project in Santander, Colombia. La Estrella contains eight known seams of metallurgical and thermal coal. The Company also holds an option on 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.
On behalf of the Board of Directors "PJ Murphy", CEO Forge Resources Corp. info@forgeresources.com
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 Aion Acquisition. 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. In particular, there can be no assurance that the Proposed Transaction will be completed as described or at all. 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.
