Forge Resources Announces the Appointment of Kevin Budd as a Special Advisor

The planned equity awards accompany the advisory appointment and follow two completed cancellations of officer options.

Rhea-AI Summary

Forge Resources (FRGGF) appointed Kevin Budd as a special advisor, adding a former Methanex executive to its team. Budd founded Monashee Capital in 2003 and previously served as a senior officer and vice president at Methanex.

Forge plans to grant Budd 250,000 stock options and directors and officers another 1,400,000, all exercisable at $0.34 per share for five years from grant. It also plans to award an officer 470,000 restricted share units, scheduled to vest on January 24, 2027. Forge has cancelled 1,850,000 options previously granted to officers: 1,100,000 on August 11 and 750,000 on August 21, 2026.

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Vancouver, British Columbia--(Newsfile Corp. - September 25, 2026) - Forge Resources Corp. (CSE: FRG) (OTCQB: FRGGF) (FSE: 5YZ) ("FRG" or the "Company") is pleased to announce the appointment of Mr. Kevin Budd as a Special Advisor.

Mr. Budd brings over 25 years of global leadership experience in the capital markets, with a proven track record in corporate development, governance, and strategic growth. Mr. Budd founded Monashee Capital Corp. in 2003. Monashee Capital Corp. is an advisory firm with experience in M&A, Corporate Finance, Succession Planning, Board Governance and General Strategic and Business Advisory Services.

Mr. Budd has advised on a wide variety of strategic and corporate finance mandates over the last two plus decades and has served on a variety of private advisory boards for businesses and family offices.

Mr. Budd was previously a Senior Officer and Vice President of Methanex Corp. where he gained strong operating and financial experience assisting the development of Methanex into a global leader. Kevin offers expertise in operations, manufacturing and sales leadership and negotiating transactions in North America, Europe and Asia. Previous to that he served in a variety of international sales and marketing roles in the specialty metals and chemicals industries.

"We are thrilled to welcome Kevin as a Special Advisor," said PJ Murphy, CEO of Forge Resources. "His extensive experience in finance, project advancement, acquisitions, and corporate governance will provide invaluable guidance as we advance our coal project in Colombia and continue exploration in our district-scale gold-copper porphyry project in the Yukon. Kevin's insight and leadership will strengthen Forge's strategic positioning and help unlock long-term value for our shareholders."

Mr. Budd received a B.A.Sc. (Honors) in Mechanical Engineering from the University of Waterloo and an MBA through the University of British Columbia and the London Business School (UK). He completed advanced management programs through Mahler Executive Leadership, the Center for Creative Leadership, Stanford Graduate School of Business and the Harvard Business School. Kevin has completed the Partners, Directors and Senior Officers Program through CSI.

"I look forward to providing some guidance to the Forge Resources team at such an exciting and pivotal time in its growth," said Mr. Budd. "The Company's portfolio and vision present a potentially excellent opportunity, and I look forward to learning more and contributing to the future success."

Options and RSUs

The Company will be granting 250,000 stock options to Mr. Budd at an exercise price of $0.34 per share for a period of five years from the date of grant. In addition, the Company will also grant an aggregate of 1,400,000 stock options to directors and officers of the Company, exercisable at $0.34 per share, for a period of five years, and award 470,000 restricted share units ("RSU") to an officer, in accordance with the Company's omnibus equity incentive plan (the "Omnibus Plan") that was passed by shareholders at the annual general and special meeting held on July 9, 2026. The RSU will vest on January 24, 2027, with the Redemption Date (as defined in the Omnibus Plan) being May 24, 2027, subject to the Company's right to settle the vested RSU prior to the Redemption Date, in which case any shares issued upon settlement will be subject to a hold period of four months and one day.

The Company confirms that an aggregate of 1,850,000 stock options have been cancelled. Of these, 1,100,000 options were cancelled on August 11, 2026, had an exercise price of $0.89 and were initially set to expire on February 10, 2030, and 750,000 stock options were cancelled on August 21, 2026, had an exercise price of $0.74 and were initially set to expire on October 15, 2030. The cancelled options were previously granted to officers of the Company.

About Forge Resources Corp.

Forge Resources Corp. is a Canadian-listed junior exploration company focused on exploring and advancing the Alotta project, a prospective porphyry copper-gold-molybdenum project located 50 km south-east of the Casino porphyry deposit in the unglaciated portion of the Dawson Range porphyry/epithermal belt in the Yukon Territory of Canada.

In addition, the Company holds an 80% interest in Aion Mining Corp., a company that is developing the fully permitted La Estrella coal project in Santander, Colombia. The project contains eight known seams of metallurgical and thermal coal.

On behalf of the Board of Directors
"PJ Murphy", CEO Forge Resources Corp.
info@forgeresources.com

Forward-Looking Statements
Certain of the statements made and information contained herein may contain forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking information includes, but is not limited to, information concerning the Company's intentions with respect to the development of its mineral properties. Forward-looking information is based on the views, opinions, intentions and estimates of management at the date the information is made, and is based on a number of assumptions and subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated or projected in the forward-looking information (including the actions of other parties who have agreed to do certain things and the approval of certain regulatory bodies). Many of these assumptions are based on factors and events that are not within the control of the Company and there is no assurance they will prove to be correct. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change except as required by applicable securities laws, or to comment on analyses, expectations or statements made by third parties in respect of the Company, its financial or operating results or its securities. The reader is cautioned not to place undue reliance on forward-looking information. We seek safe harbor.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/316022

FAQ

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What stock options does Forge Resources plan to grant after appointing Kevin Budd?

Forge plans to grant Budd 250,000 options and its directors and officers another 1,400,000 options. Both grants have an exercise price of $0.34 per share and a five-year term from the date of grant.

When do the restricted share units Forge Resources plans to award vest?

The 470,000 restricted share units planned for an officer are scheduled to vest on January 24, 2027, with a redemption date of May 24, 2027. Forge may settle vested units earlier; shares issued through early settlement would have a hold period of four months and one day.

What were the terms of the officer options Forge Resources cancelled?

The 1,100,000 options cancelled on August 11, 2026, had a $0.89 exercise price and were initially set to expire on February 10, 2030. The 750,000 options cancelled on August 21, 2026, had a $0.74 exercise price and were initially set to expire on October 15, 2030.