Forge Resources Announces Closing of Further Interest to 80% in Fully Permitted Coal Project, Colombia

Vancouver, British Columbia--(Newsfile Corp. - May 29, 2025) - Forge Resources Corp. (CSE: FRG) (OTCQB: FRGGF) (FSE: 5YZ) ("FRG" or the "Company) is pleased to announce that, further to its previous news release dated April 23, 2025, it has formally closed the acquisition of a further interest in Aion Mining Corp. ("Aion") to bring the Company's total interest to 80%, and financing update.

PJ Murphy, CEO of Forge Resources, states: "Securing 80% ownership of the fully permitted La Estrella coal project marks a major milestone for Forge Resources, setting the stage for sustained success ahead of anticipated revenue from the planned bulk sample. Strategically structuring this acquisition with shares and promissory notes ensures the Company maintains financial flexibility while driving growth. This move reinforces our commitment to expanding in the mining sector and advancing our vision for sustainable growth."

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Forge Resources Furthers its Interest in Aion Mining Corp to 80% Ownership

Forge Resources Corp acquires an additional 20% of Aion to bring ownership to 80%.

Pursuant to an amended and restated anti-dilution agreement (the "Agreement") and further to the notice delivered to Aion and the remaining shareholders of Aion (the "Shareholders"), Forge has exercised the option to purchase 3,963,807 shares (the "Shares") from the Shareholders, being a further 20% interest in Aion (the "Transaction"). With the completion of the Transaction the Company now owns 80% of common shares of Aion. In consideration, the Company paid an aggregate amount of $2,299,008.06 to the Shareholders, pro rata based on their Share ownership consisting of:

• 2,232,453 common shares of the Company at a deemed price of $0.71 per share; and

• $713,966.43, paid via the issuance of an unsecured interest-bearing promissory note to each Shareholder. Each promissory note will bear interest at a rate of 6.5% calculated annually; and mature on the earlier of the following: the two-year anniversary of the promissory note; or the completion date of one or more hard dollar financings by the Company for aggregate gross proceeds of at least $3 million.