Forge Resources Announces Phase 2 Diamond Drill Program at Alotta Project, Yukon

Executive Summary

• Forge Resources Corp. announced the planned mobilization of crews for its Phase 2 diamond drill program at the Alotta Property, consisting of 2,100 metres across 7 holes, scheduled to begin on September 20, 2025.
• The company closed the first tranche of its non-brokered flow-through private placement, raising approximately $775,000 from the issuance of 1,409,093 units.
• A second and final tranche of the financing, offering up to 909,090 units for up to $500,000 in gross proceeds, is anticipated to close around September 24, 2025.

Key Details

• Phase 2 Drill Program:
  • Scope: 2,100 metres across 7 holes, averaging 300 metres in depth.
  • Target: Untested coincident geophysical and geochemical anomalies across target areas.
  • Mobilization Date: September 20, 2025.
• Previous Exploration Results (Payoff and Severance Zones):
  • Total Drilling: 11 widely spaced diamond drill holes totaling 4,081.91 metres since 2023.
  • 2025 Phase 1: 1,422.91 metres within 5 drill holes.
  • Mineralization: Encountered gold-bearing porphyry-style quartz-sulphide veins (pyrite, pyrrhotite, molybdenite, chalcopyrite) and widespread alteration.
  • Visible Gold: Discovered in both 2025 drill holes at the Payoff Zone, possibly related to a gold-enriched halo around the main porphyry system.
  • Alteration: Quartz-sericite-pyrite alteration within semi-crowded to crowded quartz-plagioclase porphyry.
  • Geophysics: Prior data indicates potentially economic mineralization correlated with coincident induced polarization, chargeability highs, moderate-to-high resistivities, and magnetic lows.
  • Geology: Pyrrhotite presence interpreted as related to the emplacement of porphyries into carbonaceous schists of the Yukon-Tanana terrane.
• First Tranche Financing (Closed):
  • Structure: Non-brokered flow-through private placement.
  • Units Issued: 1,409,093 units.
  • Price: $0.55 per unit.
  • Gross Proceeds: $775,001.15.
  • Warrant Terms: Each unit included one-half of one transferrable non-flow-through common share purchase warrant. Each whole warrant allows purchase of one common share at $0.70/share for 36 months.
  • Finder’s Fees: Aggregate cash commission of $39,900 and 72,545 warrants (exercisable at $0.55/share for 36 months) paid to four finders.
  • Use of Proceeds: Canadian exploration expenses and flow-through mining expenditures.
  • Lock-up: Statutory holder period of four months and one day.
• Second Tranche Financing (Pending):
  • Offer Size: Up to 909,090 units.
  • Gross Proceeds: Up to approximately $500,000.
  • Terms: Same as first tranche.
  • Anticipated Closing: On or around September 24, 2025.
  • Use of Proceeds: Canadian exploration expenses and flow-through mining expenditures.

Notable Quotes

• "This exploration effort is propelled by record-high gold prices, creating a surge of activity in gold exploration projects globally."