Forge Resources Provides Progress Update in Decline Development at Fully-Permitted La Estrella Coal Project
Vancouver, May 1, 2025 - Forge Resources Corp. (CSE: FRG) (OTCQB: FRGGF) (FSE: 5YZ) ("FRG" or the "Company) is pleased to announce significant progress in its ongoing development initiatives, with noteworthy advancements in the decline at La Estrella.
Advancement of La Estrella Decline
The Company's decline is progressing swiftly, marking a significant step forward in its strategic development. This milestone is particularly encouraging as the Company transitions to a more mechanized approach, bolstered by the recent arrival of an enhanced selection of development machinery. The new equipment is expected to significantly improve the pace of progress, optimize operational efficiency, and ensure adherence to stringent safety and quality protocols.
Moreover, the Company is highly satisfied with the observed rock structure. The competency and stability of the rock have exceeded expectations, providing additional confidence in the project's feasibility and long-term success. Forge remains committed to leveraging these favorable conditions to further expedite development while maintaining the highest standards of environmental and operational responsibility.
PJ Murphy, CEO states: "The steady progress of our decline represents many months of strategic planning. The transition to a more mechanized approach, coupled with the arrival of additional equipment, is expected to accelerate development while upholding our commitment to safety, efficiency, and environmental responsibility."
Figure 1. Workers scale rock from development face
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Figure 2. Worker torques fasteners on steel arches
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Figure 3. Muck being transported to the dump staging area
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Figure 4. Arial view of development area of interest
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About Forge Resources Corp.
Forge Resources Corp. is a Canadian-listed junior exploration company. The Company holds a 60% interest with a with a formalized agreement in place to acquire 80% 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.
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