Formation Metals Announces $6,000,000 Private Placement is Fully Allocated

Core Insights - The company has initiated a multi-phase drill program at its N2 Gold Project in Quebec, targeting a total of 20,000 meters [1] - The project hosts a global historic resource of approximately 870,000 ounces of gold, with 18 million tonnes grading 1.4 g/t Au, equating to about 809,000 ounces of gold across four zones [1] - Additionally, there is a resource of 243,000 tonnes grading 7.82 g/t Au, amounting to around 61,000 ounces of gold in the RJ zone [1] - Phase 1 of the drilling program, which is fully funded, commenced on September 25, 2025, and consists of 10,000 meters [1]