Formation Metals Responds to OTC Markets Request on Recent Promotional Activity

VANCOUVER, BC / ACCESS Newswire / April 17, 2026 / Formation Metals Inc. ("Formation" or the "Company") (CSE:FOMO)(FSE:VF1)(OTCQB:FOMTF) announces that it has been requested by OTC Markets Group Inc. ("OTC Markets") to issue this statement regarding recent promotional activity concerning the Company's common shares traded on the OTCQB market.

On April 16, 2026, OTC Markets informed the Company that it became aware of certain promotional activities concerning the Company and its common shares (each, a "Share"), including the distribution of digital marketing materials by Steller Media Group, LLC ("Stellar"). These materials discussed the Company's projects, its business model, and the gold industry in general. The marketing materials also contained publicly available information and summaries of recent press releases and certain technical information issued by the Company.

Stellar is an arm's-length third-party marketing firm that was engaged by Emerging Markets Consulting, LLC ("EMC"), an arm's-length third-party marketing firm, that was engaged by 1502656 B.C. Ltd ("Wagner Media"), which is also an arm's-length third-party marketing firm. 1502656 B.C. Ltd. was engaged by the Company to provide investor relations and public awareness services. The engagement was publicly disclosed in a press release dated October 31, 2025. Under this agreement, 1502656 B.C. Ltd. was compensated $350,000 CAD for a six-month term to provide strategic digital media services, marketing (including awareness campaigns) and data analytical services to the company. The media disseminated is generated using publicly available information. 1502656 B.C. Ltd. engaged EMC to assist it with providing its services to the Company. Stellar and EMC were not paid by the Company.

Management reviewed the marketing materials disseminated by EMC prior to their dissemination. The Company does not believe any statements in the materials were materially false or misleading. However, the Company acknowledges that all investments, including investing in the Company's securities, involve certain risks and uncertainties which investors should review prior to making any investment decision. Investors are encouraged to conduct their own thorough due diligence before making any investment decisions. The Company directs potential investors to rely solely on its filings and disclosures made with the Canadian Securities Administrators, available under the Company's profile on SEDAR+ (www.sedarplus.ca).