Forge Resources Successfully Completes Phase 1 Diamond Drilling at Yukon’s Alotta Project; Initiates Phase 2 Targeting Commission Zone Core

Efficient Completion of Phase 1 Drilling at Alotta Project

Forge Resources announced the successful completion of its Phase 1 diamond drilling program at the Alotta Project, a 230-claim, 4,723-hectare porphyry exploration property located about 50 kilometres southeast of the Casino porphyry deposit in Yukon's Dawson Range. The drilling campaign finished ahead of schedule and under budget, a notable achievement for a junior exploration company operating in remote Canadian regions. Four diamond drill holes were completed, totaling 1,829.24 metres across the Severance, Payoff, and Commission zones.

This timely and cost-effective completion underscores Forge Resources' operational capabilities and positions the company to proceed with Phase 2 exploration without requiring additional capital beyond existing plans. Such efficiency is critical for junior explorers competing in the Yukon, where maintaining budget control and operational predictability enhances investor confidence and funding sustainability.

Deep Hole ALT-26-018 Reveals Promising Porphyry Mineralization at Commission Zone

Hole ALT-26-018, the deepest drilled so far at Alotta, provided encouraging visual mineralization results. Targeting the southern part of a 3D magnetic anomaly at the Commission Zone, the hole intersected widespread chlorite and secondary biotite alteration intensifying with depth. Quartz veining increased from approximately 250 metres downhole, evolving into dense stockwork veining between roughly 420 metres and the hole’s end at 565 metres. This interval showed increasing concentrations of chalcopyrite, molybdenite, and magnetite veining coinciding with the intensified stockwork.

The hole was extended beyond its initial target depth and terminated within altered and mineralized veining. The observed mineralogy—particularly the magnetite-biotite assemblage alongside chalcopyrite and molybdenite—is consistent with higher-temperature porphyry centers in analogous mineral systems. These textures and minerals suggest the drilling may have reached or intersected the hotter, central parts of a porphyry system, which typically contain higher concentrations of economically valuable metals. The announcement includes photographs illustrating biotite-altered porphyry, chlorite-altered quartz stockwork, and mineralogical features of core samples near the hole’s base.

Sample Processing and Pending Assay Analysis at ALS Laboratories

Drill core processing is nearly complete, with samples from three of the four Phase 1 holes already delivered to ALS Laboratories in Whitehorse for geochemical analysis. Processing of the fourth hole is close to completion. The company has not specified a timeline for assay results but confirmed that data will be released after ALS completes analysis, followed by quality assurance, quality control review, and technical interpretation.

ALS Canada Ltd. is conducting sample preparation and analysis, with initial processing in Whitehorse and detailed geochemical assays in North Vancouver, British Columbia. The company employs rigorous quality assurance and control protocols, including certified assay standards, coarse reject duplicates, field duplicates, and blanks to ensure data integrity. Core sampling used diamond saw techniques, with half-core samples sent for analysis and the remaining halves retained for future reference or additional testing.

Analytical Procedures and Element Detection Methods

ALS Laboratories applied standard industry analytical protocols for Alotta samples. Half-core samples underwent fine crushing and preparation. Gold content was determined by fire assay using a 50-gram charge followed by atomic absorption spectroscopy. The fine fraction was analyzed for 48 elements via four-acid digestion combined with inductively coupled plasma mass spectrometry and atomic emission spectroscopy.

These methods provide reliable quantification of gold and base metals across wide concentration ranges. The multi-element analysis enables assessment not only of primary metals—copper, gold, and molybdenum—but also pathfinder and alteration-related elements that help interpret mineralizing processes and system intensity. The forthcoming assay results will offer quantitative geochemical data to complement visual mineralogical observations from core logging.

Phase 2 Drilling Targets Deeper Commission Zone and Ongoing Payoff Zone Work

Phase 2 drilling is designed to build on the positive visual results from ALT-26-018 at the Commission Zone and to further explore extensive gold mineralization previously identified at the Payoff Zone. Drilling at the Payoff Zone is currently in progress. At the Commission Zone, planned deep drill holes will test the interpreted core, characterized by quartz stockwork veining, elevated chalcopyrite and molybdenite, and biotite-magnetite alteration observed near the base of ALT-26-018.

This strategic focus on the deeper, hotter core aligns with standard exploration practices for porphyry copper-gold deposits, where higher-temperature mineral assemblages typically occur at depth near igneous centers. By targeting intense stockwork veining and elevated base metal mineralization zones, Forge Resources aims to confirm that Phase 1 intersected the peripheral zone of a significant porphyry mineralizing system. This approach supports the company’s view of Alotta as a promising porphyry copper-gold-molybdenum project.

Geological Setting and Regional Significance of Alotta Project

The Alotta Project is located in the unglaciated portion of the Dawson Range porphyry and epithermal belt in Yukon Territory, approximately 50 kilometres southeast of the Casino porphyry deposit, one of Canada’s major undeveloped porphyry copper resources. The property covers 230 mineral claims totaling 4,723 hectares and benefits from access to Yukon’s established exploration and mining infrastructure.

The Dawson Range is a prolific mineral belt with multiple porphyry and epithermal gold and copper systems identified over decades of exploration. Favorable host rocks, documented mineralization, and 3D magnetic anomalies that guided Phase 1 drilling form the geological basis for Forge Resources’ exploration thesis. Successes by other operators and defined mineralized zones at Severance, Payoff, and Commission underpin the company’s rationale for systematic drilling across multiple targets.

Diversified Corporate Portfolio Including La Estrella Coal Project

Beyond the Alotta porphyry project, Forge Resources holds an 80% interest in Aion Mining Corp., which is developing the fully permitted La Estrella coal project in Santander, Colombia. La Estrella contains eight known seams of metallurgical and thermal coal and is fully permitted for operations. This dual-commodity, multi-region portfolio provides diversification of exploration and development risk.

Forge Resources’ primary focus remains advancing the Alotta project as a prospective porphyry copper-gold-molybdenum system. CEO PJ Murphy has emphasized plans to continue deep drilling at the Commission Zone to test the higher-temperature core, underscoring the company’s commitment to near-term exploration pending assay results and interpretation.

Settlement Agreement with Former President and Equity Issuance

Forge Resources reached a mutual settlement agreement with former President Lorne Warner and Geocon Enterprises Inc., through which Mr. Warner provided consulting services. Under the agreement, Forge Resources will pay $100,000 in equal monthly installments to Geocon starting July 1, 2026, settling debt and any claims. Additionally, 250,000 common shares will be issued to Mr. Warner by July 24, 2026, subject to a four-month hold period and Canadian Securities Exchange approvals.

This settlement closes prior compensation arrangements and potential disputes related to Mr. Warner’s former role. The installment payment structure facilitates manageable cash flow, while the share hold period complies with standard CSE requirements for insider and consultant equity compensation.

Qualified Person Review and Regulatory Compliance

Technical information in the announcement was reviewed and approved by Kelson Willms, P.Geo., of Archer, Cathro & Associates (1981) Limited, a Qualified Person under National Instrument 43-101 standards. This certification ensures accuracy and regulatory compliance of exploration data, assay methods, sampling, and technical interpretations disclosed.

Compliance with National Instrument 43-101 is essential for mineral exploration companies listed on Canadian exchanges, guaranteeing professional geological and engineering standards. Independent Qualified Person review provides investors with third-party validation of the company’s exploration methodology and public disclosures.

Investor Outlook: Awaiting Assay Results and Monitoring Phase 2 Progress

Investors should focus on the upcoming assay results from all four Phase 1 drill holes. Geochemical data, particularly for gold, copper, and molybdenum within mineralized intervals, will provide quantitative context to visual core observations. Element concentrations, ratios, and spatial distribution will inform technical interpretations of the porphyry system’s intensity, style, and depth potential.

Additionally, tracking Phase 2 drilling progress at the Payoff and Commission zones is critical. Early results from Commission Zone deep holes will test the hypothesis of intersecting a higher-temperature porphyry core. Operational metrics such as drilling rates, core recovery, mineralization characteristics, and preliminary field assessments will offer insight into exploration momentum. Market reaction to assay releases and drilling milestones will be key indicators of management’s strategic success. Immediate share price impact remains unclear from current public information.