Forge Resources Wraps Up Phase 1 Drilling at Alotta Project, Eyes Deeper Commission Zone Exploration

Completion of Phase 1 Drilling Program and Visual Findings

Forge Resources has completed its Phase 1 diamond drilling program at the Alotta Project ahead of schedule and under budget. The program involved drilling four diamond holes totaling 1,829.24 metres across three mineralized zones: Severance, Payoff, and Commission. Drill core processing is complete for three holes, with samples sent to ALS Laboratories in Whitehorse, Yukon, while the fourth hole's processing is nearly finished.

The standout result came from hole ALT-26-018, which targeted the southern segment of a 3D magnetic anomaly in the Commission Zone. This hole reached a depth of 565 metres and revealed visual evidence indicative of proximity to a higher-temperature porphyry centre. Widespread chlorite and secondary biotite alteration intensified with depth, and quartz veining increased significantly from about 250 metres downhole. Between approximately 420 metres and the hole's base, dense quartz stockwork veining was observed alongside increasing chalcopyrite, molybdenite, and magnetite veining. The hole was extended beyond its original target depth and concluded within altered and mineralized veining.

Porphyry System Features and Mineralization Indicators

Visual observations from Phase 1 drilling support the presence of a developing porphyry copper-molybdenum system. Hole ALT-26-018 displayed biotite-altered porphyry hosting abundant quartz, quartz-pyrite, and pyrite veins at 396 metres depth. At greater depths, chlorite-altered porphyry was intersected, cut by quartz stockwork veining containing pyrite-pyrrhotite and chalcopyrite-molybdenite assemblages. Near the hole bottom at 516 metres, biotite-altered porphyry was cut by quartz stockwork veins hosting similar mineral associations.

Forge Resources interprets that the magnetite and biotite alteration combined with intense quartz stockwork veining near the bottom of hole ALT-26-018 indicates the higher-temperature portion of the porphyry system has been encountered. This is significant as higher-temperature zones in porphyry systems typically correspond to the metal-rich core of mineralization. CEO PJ Murphy stated the company plans to drill a deep hole to follow up on these visual results from the Commission Zone, aiming to test the interpreted deeper core.

Assay Results Pending and Analytical Process

Analytical results from the Phase 1 drilling program have not yet been released. All assay data from the four drill holes are currently under analysis at ALS Laboratories. Geochemical analysis is conducted in North Vancouver, British Columbia, with sample preparation and delivery services handled in Whitehorse, Yukon.

Gold analysis for core samples uses a 50-gram charge by fire assay followed by atomic absorption spectroscopy finish. Additionally, the fine fraction of samples is analyzed for 48 elements using four-acid digestion followed by inductively coupled plasma mass spectrometry and atomic emission spectroscopy. Quality assurance and control measures include certified assay standards, coarse reject duplicates, field duplicates, and blanks inserted into the sample stream to ensure data integrity. Half-core samples are fine-crushed and pulverized to better than 85% passing 75 microns prior to analysis.

Phase 2 Drilling Plans for Commission and Payoff Zones

Building on Phase 1 findings, Forge Resources is preparing Phase 2 diamond drilling to further investigate the Alotta porphyry system. At the Commission Zone, deep holes will follow up on visual results from hole ALT-26-018 and test the interpreted deeper core of mineralization, which aligns with quartz stockwork veining, increased chalcopyrite and molybdenite, and biotite and magnetite alteration at depth.

Phase 2 will also include follow-up drilling at the Payoff Zone to target previously identified extensive gold mineralization from earlier campaigns. Drilling at the Payoff Zone is currently underway as part of this program. This approach targets both the copper-molybdenum porphyry potential at Commission and the gold mineralization at Payoff.

Project Geology and Strategic Location in Dawson Range

The Alotta Project encompasses 230 mineral claims covering 4,723 hectares, situated about 50 kilometres southeast of the Casino porphyry deposit in the unglaciated Dawson Range porphyry and epithermal belt of Yukon Territory. This places Alotta within a metallogenic belt known for porphyry copper-gold-molybdenum mineralization. Proximity to the Casino deposit, a major copper porphyry system, provides important geological context for Alotta's exploration potential.

The Alotta porphyry system spans multiple mineralized zones across the property, including Severance, Payoff, and Commission. These zones were identified through prior geological mapping, geochemical sampling, and geophysical surveys. The 3D magnetic anomalies guiding drilling help locate buried porphyry centers within the claims.

Quality Assurance and Sample Integrity Measures

The company detailed rigorous analytical and quality assurance protocols for processing Phase 1 drilling samples. Sample collection and data entry at the site follow strict procedures. Diamond core saws are used to collect samples, with half of each interval sent to ALS Laboratories for analysis and the other half retained for future reference.

At ALS, half-core samples are fine-crushed and pulverized to better than 85% passing 75 microns. Certified assay standards, coarse reject duplicates, field duplicates, and blanks are routinely inserted to monitor assay accuracy and detect contamination or bias. This quality control ensures confidence in the final assay results once released.

Technical Review and Qualified Person Statement

The technical information complies with Canadian National Instrument 43-101 standards for mineral project disclosure. Kelson Willms, P.Geo., of Archer, Cathro & Associates (1981) Limited, reviewed and approved the information. Mr. Willms is a Qualified Person under NI 43-101, ensuring professional oversight of the technical data.

The involvement of a Qualified Person guarantees that mineral exploration information is provided by a professional with appropriate expertise, enhancing transparency and reliability of the drilling results and mineralization interpretations.

Settlement Agreement with Former President

In a concurrent corporate update, Forge Resources signed a mutual settlement agreement with former President Lorne Warner and Geocon Enterprises Inc., through which Mr. Warner provided services. The company agreed to pay $100,000 to Geocon in equal monthly installments starting July 1, 2026, and to issue 250,000 common shares to Mr. Warner by July 24, 2026. The shares will have a four-month hold period and issuance is subject to Canadian Securities Exchange approvals.

This settlement resolves debt owed by the company and any other claims Mr. Warner or Geocon may have. The timing of this announcement alongside drilling completion may interest investors monitoring Forge Resources’ governance and capital allocation.

Company Portfolio and Strategic Assets

Besides the Alotta Project in Yukon, Forge Resources holds an 80% stake in Aion Mining Corp., which is developing the fully permitted La Estrella coal project in Santander, Colombia. La Estrella features eight known seams of metallurgical and thermal coal. This diversification extends Forge Resources’ portfolio beyond Canadian precious metals and copper exploration to include South American coal development, though no updates on La Estrella were provided.

The company’s primary focus remains the exploration and advancement of the Alotta porphyry copper-gold-molybdenum project in Yukon, with no changes reported regarding La Estrella or ownership in Aion Mining Corp.

Investor Guidance and Forward-Looking Statements

Investors should note the announcement contains forward-looking information under Canadian securities laws, including plans for mineral property development and Phase 2 drilling. Such statements are based on management’s views and estimates and involve risks and uncertainties beyond the company’s control, with no guarantee of outcomes.

The immediate impact on Forge Resources’ share price is unclear. Market participants are likely awaiting assay results from Phase 1 drilling, which could significantly influence the company’s exploration narrative and stock performance. The pending ALS Laboratories data represent a key upcoming catalyst, potentially confirming or refining the visual indicators observed during drilling.