20:13:20 EDT Tue 08 Sep 2026
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Forge Resources Corp
Symbol FRG
Shares Issued 109,147,521
Close 2026-09-08 C$ 0.275
Market Cap C$ 30,015,568
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Forge completes underground ramp at La Estrella

2026-09-08 18:29 ET - News Release

Mr. P.J. Murphy reports

FORGE RESOURCES COMPLETES UNDERGROUND RAMP AND STARTS CROSSCUT TO COAL SEAMS

Forge Resources Corp. has provided a technical update from its fully permitted La Estrella coal project, located in Santander, Colombia. The company is excited to report that it has completed the underground ramp to operational depth and is commencing the crosscut, a major milestone that marks the transition from ramp construction to direct advancement toward La Estrella's coal seams.

Junction and crosscut development

With the underground ramp completed, the La Estrella technical team has engineered the junction, from the underground ramp, transitioning seamlessly into the crosscut toward the coal seams. The sequence calls for installation of a perpendicular support arch at the junction axis, followed by placement of a steel transition portal. The ramp's arch extensions will be anchored into this portal, securely tying the new heading into the existing structure before advance into the coal-directed crosscut begins.

The crosscut will initially advance using a 12.4-square-metre TH29 support section, matching the profile used along the underground ramp. The crosscut will then transition to 9.0 square metres support section; a lighter, faster profile expected to accelerate advance rates for the remainder of the drive to the coal seams.

Full steam ahead to the coal seams

The crosscut is aimed on a direct line at La Estrella's stacked sequence of known coal seams. Reaching them will mark a pivotal, near-term milestone on La Estrella's path toward extraction and cash flow, moving the company decisively closer to its core objectives for the project.

Strengthening market and policy environment

International coal benchmarks continue to demonstrate sustained strength. Newcastle FOB pricing remains elevated relative to historical averages, reinforcing a favourable commercial backdrop for near-term coal development.

The company also notes that Colombia's recent presidential transition has signalled early indications of a more supportive stance toward responsible resource development. Public statements from the incoming administration have emphasized economic growth, energy reliability and strengthening industrial sectors, all of which align positively with the advancement of coal projects. These conditions support favourable project economics as La Estrella advances toward its first coal access.

P.J. Murphy, chief executive officer of Forge Resources, commented: "Completing the underground ramp is a significant and exciting milestone for Forge Resources. Excellent progress from our skilled underground team has taken us to the crosscut that will take us straight into the coal seams. Forge Resources is full steam ahead towards the extraction of coal at La Estrella."

Qualified person

The technical information contained in this news release has been reviewed and approved by Emilio Gene, PEng, project director and mining engineer of the company, a qualified person as defined under National Instrument 43-101 -- Standards of Disclosure for Mineral Projects.

About Forge Resources Corp.

Forge Resources is a Canadian-listed junior exploration company. The company holds an 80-per-cent 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 consisting of 230 mineral claims that cover 4,723 hectares, located 50 kilometres southeast of the Casino porphyry deposit in the unglaciated portion of the Dawson Range porphyry/epithermal belt in the Yukon Territory of Canada.

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