Forge Resources Advances La Estrella as Coal Prices Hold Strong and Colombia's New Government Reopens the Resource Sector

Forge Resources Corp. (CSE: FRG) (OTCQB: FRGGF) (FSE: 5YZ) ("FRG" or the "Company"), is pleased to provide an update on two developments that strengthen the case for La Estrella project. Benchmark coal prices remain well above long-run averages, and Colombia has a new government administration that has made resource development an explicit priority. Forge enters the final months of 2026 with all three powerful and converging catalysts aligned in its favour.

Coal prices are currently trading at strong levels that underpin the economics of new and developing coal assets worldwide (Figure 1). The Newcastle FOB thermal benchmark reached USD $146.60 per tonne on 2 September 2026, a September high driven by robust global energy demand and persistent supply risks, up roughly 11% over the month and approximately 35% year-on-year. Metallurgical coal has been even stronger: the coking coal futures benchmark stood at USD $271.50 per tonne on the same date, a gain of about 28% over the month and roughly 45% year-on-year. Together, these elevated thermal and coking coal prices reflect a robust near-term market environment for producers.

Behind that pricing is a structural supply-demand imbalance with no near-term resolution in sight. Export capacity from key producing jurisdictions remains constrained, while steel production across South and Southeast Asia continues to absorb metallurgical coal, India in particular, where import requirements are projected to grow materially through the latter part of this decade. On the thermal side, energy security has become the governing concern for Asian power markets, and utilities have prioritized supply diversification in response to LNG price volatility and disruption to alternative fuel sources. This backdrop is directly relevant to Forge. The Company's Colombian asset base sits close to established export infrastructure and is positioned to serve both Atlantic and Pacific Basin trade flows. Where supply constraints are structural rather than cyclical, permitted early-stage assets in stable jurisdictions offer investors leveraged exposure to sustained price strength.

Colombia's 2026 presidential election has produced an outcome the Company regards as a materially positive development for the country's mining sector. Abelardo de la Espriella won the June 21 runoff by roughly 250,000 votes over Senator Iván Cepeda. Mr. de la Espriella campaigned on a market-oriented platform: a hardline security agenda, and renewed support for the resource industries. His government plan treats hydrocarbons and mining as strategic priorities and commits to reducing the regulatory burden that has slowed extractive projects. In his inaugural address, Mr. de la Espriella described energy security as "a matter of national sovereignty" and said Colombia could not expect long-term prosperity by leaving its natural resources undeveloped, adding that an energy transition "must be built from strength, not from weakness, from self-sufficiency and not from dependence." He named the rebuilding of Ecopetrol, the majority state-owned oil company, as a priority of his administration. For the coal sector, the significance lies in the direction of travel. The previous administration declined to sign new oil, gas and coal exploration contracts as part of its energy transition agenda, and the result...