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Forte Minerals Closes C$5.7 Million Strategic Placement, Welcomes Long-Term Partner

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VANCOUVER, British Columbia, July 23, 2025 (GLOBE NEWSWIRE) -- Forte Minerals Corp. ("Forte" or the "Company") (CSE:CUAU) (OTCQB:FOMNF) (Frankfurt: 2OA), is pleased to announce the closing of its previously announced non-brokered private placement (the "Strategic Placement") with a strategic investor (the "Investor"). The Investor has acquired 6,326,066 common shares at a price of C$0.90 per share, for gross proceeds of C$5.7 million.

Following today's closing, the Investor holds 9.99 % of Forte's issued and outstanding shares on a non-diluted basis, establishing a meaningful, long-term position in the Company's copper-gold growth pipeline.

Patrick Elliott, President & CEO, commented:"Closing this placement is a pivotal milestone for Forte. The investor's conviction and long-term horizon validates our exploration thesis in Peru. With capital in hand and technical collaboration secured, we can accelerate exploration & drill permitting at Alto Ruri while unlocking value across our broader portfolio."

Use of Proceeds:Consistent with the terms announced on July 16, 2025, at least 80% of the proceeds will be directed toward exploration activities at Forte's flagship Alto Ruri high-sulfidation epithermal gold project in central Peru. Remaining funds will be allocated to general working capital and corporate purposes.

Investor Rights Agreement Highlights:Concurrent with closing, Forte and the Investor entered into an Investor Rights Agreement whereby the Investor is entitled to certain rights, subject to the Investor maintaining certain ownership thresholds in the Company, including technical information sharing rights and the right to participate in future equity financings and top-up its holdings in relation to ...