Forge Resources Encounters Additional Coal During Ramp Development at La Estrella, Applies to the Critical Minerals Institute
Rhea-AI Summary
Forge Resources (OTCQB: FRGGF) reported encountering two additional coal seams while advancing the underground ramp at its fully permitted La Estrella coal project in Colombia. The seams are consistent with prior observations, reinforcing confidence in the coal-bearing system and the geological model.
The main ramp continues to progress and is key access to eight underground coal seams. Forge also applied to join the Critical Minerals Institute (CMI), aligning its metallurgical coal asset with global critical minerals and strategic materials frameworks.
AI-generated analysis. Not financial advice.
Positive
- Two additional coal seams intersected during La Estrella underground ramp development
- Underground ramp advancement reinforces continuity of coal-bearing system
- Finds are consistent with prior observations, supporting the geological model
- La Estrella described as a fully permitted flagship coal project in Colombia
- Application submitted to join the Critical Minerals Institute (CMI)
- CMI participation expected to support technical validation and market positioning efforts
Negative
- None.
Vancouver, British Columbia--(Newsfile Corp. - May 15, 2026) - Forge Resources Corp. (CSE: FRG) (OTCQB: FRGGF) (FSE: 5YZ) ("FRG" or the "Company"), is pleased to announce it has encountered two additional coal seams while advancing the underground ramp at its fully permitted flagship La Estrella coal project in Colombia (Figure 1), and application to the Critical Mineral Institute (CMI).
Figure 1. Coal seams exposed in development face
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Forge is encouraged by this development and the ongoing advancement of its underground ramp. Underground development at La Estrella continues to progress steadily, with advancement of the main underground ramp reinforcing the continuity of the coal-bearing system. These two coal seams are consistent with prior observations, further strengthening confidence in the coal deposit and supporting the geological model across the project area.
Figure 2. Ongoing progress at the face of the underground ramp
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PJ Murphy, CEO states: "Finding the two additional coal seams highlights the near-term potential of our deposit and underscores the efficiency of our underground ramp development. Underground development activities continue to advance steadily, supported by a fully deployed operational team in the main underground ramp. Forge continues to make excellent progress on advancing the ramp towards the eight underground coal seams. We look forward to further progress."
Development activities remain active, with a focus on maintaining consistent advance rates while optimizing underground conditions to support safe and efficient operations. The underground ramp serves as the primary access to the underground workings and remains a central component in unlocking the long-term potential of the project.
Critical Minerals Institute (CMI),
Forge is pleased to announce that it has applied to join the Critical Minerals Institute (CMI), a leading industry organization focused on advancing the understanding and strategic development of critical mineral supply chains globally.
Strategic Context
Forge's anticipated participation in the Critical Minerals Institute aligns with its broader strategy of positioning its Colombian coal asset within evolving global frameworks that increasingly recognize metallurgical coal as a strategically important input for steel production and industrial supply chains.
Metallurgical coal is increasingly viewed as a strategic material supporting industrial resilience, steel manufacturing capacity, and defense-related supply chains, reflecting its importance in the production of high-grade steel used across infrastructure, energy systems, and national security applications. This shift has contributed to growing policy and market recognition of metallurgical coal within critical materials frameworks.
Through its anticipated membership in CMI, Forge gains access to a network of industry participants, policymakers, and technical experts engaged in critical minerals and strategic materials development, supporting the Company's ongoing technical validation and market positioning efforts.
Forge will continue advancing its metallurgical and thermal coal project in parallel with its engagement in the critical minerals sector.
About Forge Resources Corp.
Forge Resources Corp. is a Canadian-listed junior exploration company. The Company holds an
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 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.
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.
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