Formation Metals Files 30-Day Notice for the Commencement of the 20,000 Metre Multi-Phase Drill Program for the Advanced N2 Gold Project

Highlights:

• Formation has filed its 30-day notice with the responsible municipal authorities for its upcoming 2025 exploration activities.

• Formation has planned a 20,000 metre multi-phase drill program at its flagship N2 Gold Project in Quebec, host to a global historic resource of ~870,000 ounces comprised of 18 Mt grading 1.4 g/t Au (~809,000 oz Au) across four zones (A, East, RJ-East, and Central)^2,3 and 243 Kt grading 7.82 g/t Au (~61,000 oz Au) across the RJ zone^2,4.

Phase 1 is a fully funded 5,000 metre program targeting expansion targets in the "A" zone, a shallow, highly continuous, low-variability historic gold deposit with ~522,900 ounces of which only ~35% of strike has been drilled (>3.1 km open), and the "RJ" zone, host to high-grade intercepts from historical drill holes as high as 51 g/t Au over 0.8 metres², which was expanded by Agnico Eagle Mines in 2008 in the most recent drilling at the Property.

Formation will also focus on N2's significant base metal potential, where it recently completed a revaluation process which revealed significant copper and zinc intercepts within historic drillholes with significant gold grades (>1 g/t Au).

The Company has working capital of ~C$2.8M, putting it in a very strong financial position to execute its exploration programs.

VANCOUVER, BC / ACCESS Newswire / June 17, 2025 / Formation Metals Inc. ("Formation" or the "Company") (CSE:FOMO)(FSE:VF1)(OTCQB:FOMTF), a North American mineral acquisition and exploration company, is pleased to announce that it has officially filed its Annual Exploration Work Notice ("Planification Annuelle Des Travaux d'Exploration") with the responsible municipal authorities for its upcoming 2025 exploration activities for its planned 20,000 metre multi-phase drill program at its flagship N2 Gold Project ("N2") in Quebec.

N2 is an advanced gold project with a global historic resource of ~870,000 ounces comprised of 18 Mt grading 1.4 g/t Au (~809,000 oz Au) across four zones (A, East, RJ-East, and Central)^2,3 and 243 Kt grading 7.82 g/t Au (~61,000 oz Au) across the RJ zone^2,4 where the Company intends on commencing its maiden 5,000 meter drill program in Summer 2025.

This filing must be completed 30-days in advance of the commencement of fieldwork and ensures compliance with regulatory requirements and reflects the company's continued commitment to transparency, community engagement, and responsible mineral exploration practices. The work program will focus on advancing key targets across Formation's Quebec-based properties.