Formation Metals Begins Trading on the OTCQB Venture Market

Rhea-AI Summary

Formation Metals (CSE:FOMO, OTCQB:FOMTF) has begun trading on the OTCQB Venture Market effective May 15, 2025. The company will maintain its existing listings under "FOMO" in Canada and "A3D492" in Germany.

Formation's flagship asset is the N2 Gold Project in Quebec, featuring a historic resource of 877,000 ounces of gold. The project comprises 87 claims across ~4,400 ha in Northwestern Quebec's Abitibi sub province. The resource includes 18.2 Mt grading 1.48 g/t Au (~810,000 oz Au) across four zones and 243 Kt grading 7.82 g/t Au (~67,000 oz Au) in the RJ zone.

The company's upcoming maiden drill program will target the "A" zone, which shows consistent gold mineralization with intercepts up to 1.7 g/t over 35m, and the "RJ" zone, which has yielded historical high-grade intercepts up to 51 g/t Au over 0.8 metres.

Positive

• Uplisting to OTCQB Venture Market increases visibility and potential investor base
• Historic gold resource of 877,000 ounces with significant grades
• Project includes six auriferous zones, all open for expansion
• Strong historical drill results with up to 51 g/t Au over 0.8 metres in RJ zone
• Large land package of 4,400 ha with multiple untested drilling targets

Negative

• Historic resource is non-compliant with current standards
• No recent drilling since 2008
• Only 35% of strike length has been drilled in 'A' zone
• Maiden drill program yet to commence

VANCOUVER, BC / ACCESS Newswire / May 15, 2025 / Formation Metals Inc. ("Formation" or the "Company") (CSE:FOMO), a North American mineral acquisition and exploration company, is pleased to announce that the Company's common shares have begun trading on the OTCQB Venture Market ("OTCQB") effective today under the ticker symbol FOMTF. The successful uplisting is effective May 15, 2025 and the company's common shares will continue to trade under the ticker symbol "FOMO" in Canada and "A3D492" in Germany.

Formation believes the uplisting will boost visibility to a broader universe of investors and provide improved liquidity for its stock as the company advances its flagship N2 Gold Project ("N2") in Quebec, an advanced gold project with a global historic resource of 877,000 ounces: 18.2 Mt grading 1.48 g/t Au (~810,000 oz Au) across four zones (A, East, RJ-East, and Central)^2,3 and 243 Kt grading 7.82 g/t Au (~67,000 oz Au) across the RJ zone^2,4.

Deepak Varshney, Formation's Chief Executive Officer and Director commented, "Uplisting to the OTCQB Venture Market is an important milestone for our company and reflects our commitment to improving corporate transparency, increasing share trading liquidity, and expanding the universe of potential investors."

The OTCQB is a trading platform operated by the OTC Markets Group Inc. that is designed for developing and entrepreneurial-stage companies, and is considered by the SEC to be an "established public market". Companies listed on the OTCQB are current in their SEC financial reporting and complete an annual verification and management certification process. Additional information about the OTC Markets Group Inc. and the OTCQB can be found at www.otcmarkets.com.

Project Summary

Comprising 87 claims totaling ~4,400 ha within the Abitibi sub province of Northwestern Quebec, Formation's flagship N2 Gold Project ("N2") is an advanced gold project with a global historic resource of 877,000 ounces: 18.2 Mt grading 1.48 g/t Au (~810,000 oz Au) across four zones (A, East, RJ-East, and Central)^2,3 and 243 Kt grading 7.82 g/t Au (~67,000 oz Au) across the RJ zone^2,4. There are six primary auriferous mineralized zones in total, each open for expansion along strike and at depth. Compilation and geophysical work by Balmoral Resources Ltd. (now Wallbridge Mining) from 2010 to 2018 generated numerous targets that have not yet been investigated with diamond drilling.

Formation's maiden drill program will focus on:

• the "A" zone, a shallow, highly continuous, low-variability historic gold deposit with numerous intermittent and consecutive auriferous intervals (84% of historical drill holes intercepted Au up to 1.7 g/t over 35 m)², 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.

Figure 1 - Property overview summarizing historical work completed at each of the six mineralized zones and their respective historical resource.

Qualified person

The technical content of this news release has been reviewed and approved by Mr. Babak Vakili Azar, P.Geo., an independent contractor and a qualified person as defined by National Instrument 43-101. Historical reports provided by the optionor were reviewed by the qualified person. The information provided has not been verified and is being treated as historic non-compliant intercepts.

About Formation Metals Inc.

Formation Metals Inc. is a North American mineral acquisition and exploration company focused on the development of quality properties that are drill-ready with high-upside and expansion potential. Formation's flagship asset is the N2 Gold Project, an advanced gold project with a global historic resource of 877,000 ounces (18.2 Mt grading 1.48 g/t Au (~810,000 oz Au) across four zones (A, East, RJ-East, and Central)^2,3 and 243 Kt grading 7.82 g/t Au (~67,000 oz Au) across the RJ zone^2,4) and six mineralized zones, each open for expansion along strike and at depth including the "A" zone, of which only ~35% of strike has been drilled (>3.1 km open), and the "RJ" zone, host to historical high-grade intercepts as high as 51 gpt Au over 0.8 metres.

FORMATION METALS INC.

Deepak Varshney, CEO and Director

For more information, please call 778-899-1780, email info@formationmetalsinc.com or visit www.formationmetalsinc.com.

Neither the Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

Notes and References:

1. Readers are cautioned that the geology of nearby properties is not necessarily indicative of the geology of the Property.

2. The above referenced resource estimates do not have a category, are considered historical in nature, and are based on prior data prepared by a previous property owner, and do not conform to current CIM categories.

   1. While the Company considers the estimates to be reliable, a qualified person has not done sufficient work to classify the historical estimates as current resources in accordance with current CIM categories and the Company is not treating the historical estimates as a current resource. A 0.5 g/t Au cut-off was used in the preparation of the historical estimates with a minimum 2.5 metre mining width.

   2. Significant data compilation, re-drilling, re-sampling and data verification may be required by a qualified person before the historical estimates can be classified as current resources. There can be no assurance that any of the historical mineral resources, in whole or in part, will ever become economically viable. In addition, mineral resources are not mineral reserves and do not have demonstrated economic viability. The Company is not aware of any more recent estimates prepared for the N2 Property.

3. Needham, B. (1994), 1993 Diamond Drill Report, Northway Joint Venture, Northway Property; Cypress Canada Inc.; 492 pages.

4. Guy K. (1991), Exploration Summary May 1, 1990 to May 1, 1991 Vezza Joint Venture Northway Property; Total Energold; 227 pages.

Forward-looking statements:

This news release includes "forward-looking statements" under applicable Canadian securities legislation, including statements respecting: the Company's uplisting to the OTCQB and the expected benefits and timing of same; the Company's plans for the Property and the expected timing and scope of the 2025 drilling program at the Property; the Company's view that timing is perfect for a near-surface multi-million-ounce deposit the Property; the Company's view that the Property has the potential for over three million ounces of gold and the 5,000-metre drilling program marking the beginning of the Company's pursuit of that goal. Such forward-looking information reflects management's current beliefs and is based on a number of estimates and/or assumptions made by and information currently available to the Company that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors that may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Readers are cautioned that such forward-looking statements are neither promises nor guarantees and are subject to known and unknown risks and uncertainties including, but not limited to, general business, economic, competitive, political and social uncertainties, uncertain and volatile equity and capital markets, lack of available capital, actual results of exploration activities, environmental risks, future prices of base and other metals, operating risks, accidents, labour issues, delays in obtaining governmental approvals and permits, and other risks in the mining industry.

The Company is presently an exploration stage company. Exploration is highly speculative in nature, involves many risks, requires substantial expenditures, and may not result in the discovery of mineral deposits that can be mined profitably. Furthermore, the Company currently has no reserves on any of its properties. As a result, there can be no assurance that such forward-looking statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements.

SOURCE: Formation Metals

View the original press release on ACCESS Newswire

FAQ

What is Formation Metals' (FOMTF) new trading market and symbol?

Formation Metals began trading on the OTCQB Venture Market under the symbol FOMTF on May 15, 2025, while maintaining its CSE listing under FOMO and German listing under A3D492.

What is the historic gold resource at Formation Metals' N2 Gold Project?

The N2 Gold Project has a historic resource of 877,000 ounces of gold, comprising 18.2 Mt at 1.48 g/t Au (~810,000 oz) across four zones and 243 Kt at 7.82 g/t Au (~67,000 oz) in the RJ zone.

Where is Formation Metals' N2 Gold Project located?

The N2 Gold Project is located in Northwestern Quebec's Abitibi sub province, consisting of 87 claims covering approximately 4,400 hectares.

What are the best historical drill results from Formation Metals' N2 Project?

The best historical results include intercepts up to 1.7 g/t Au over 35m in the 'A' zone and high-grade intercepts up to 51 g/t Au over 0.8 metres in the RJ zone.

What are Formation Metals' plans for the N2 Gold Project?

Formation Metals is planning a maiden drill program focusing on the 'A' zone, which has only been 35% drilled along strike, and the high-grade RJ zone.