Formation Metals Commences Fully Funded 10,000 Metre Drill Program at the Advanced N2 Gold Project

Core Insights - Formation has initiated a fully funded 10,000 metre multi-phase drill program at its N2 Gold Project located near Matagami, Quebec, which has a historic resource of approximately 870,000 ounces of gold [1] Summary by Sections Project Overview - The N2 Gold Project hosts a global historic resource of ~870,000 ounces, consisting of 18 million tonnes grading 1.5 g/t Au (~809,000 oz Au) across four zones: A, East, RJ-East, and Central [1] - Additionally, there are 243 thousand tonnes grading 7.82 g/t Au (~61,000 oz Au) in the RJ zone [1] Phase 1 Drilling Targets - Phase 1 of the drilling program will focus on the "A" zone, which is characterized as a shallow, highly continuous, low-variability historic gold deposit containing ~522,900 ounces, with only ~35% of its strike drilled (over 3.1 km open) [1] - The program will also target the "RJ" zone, known for high-grade intercepts from historical drill holes, with grades reaching as high as 51 g/t Au over 0.8 metres [1] - The RJ zone was expanded by Agnico Eagle Mines in 2008 during the most recent drilling at the property [1]