Formation Metals Advances Open-Pit Potential at N2 Gold Project

Formation Metals Inc. has reported significant mineralization at its N2 Gold Project in Quebec. Recent drillholes, N2-25-006, N2-25-009, and N2-25-011, revealed over 100 meters of near-surface target mineralization. These findings align with the company's focus on assessing the first 300 meters vertically in the area, aiming for a multi-million-ounce open-pit resource.

Drillhole N2-25-006 intercepted 102.6 meters of mineralization from 15.3 meters downhole, while N2-25-009 found 135.7 meters starting at 23.3 meters. The longest interception, 166.8 meters, was recorded at N2-25-011 from 60 meters downhole. These results confirm the continuity of the deposit, previously indicated by historical data.

Formation Metals is conducting a fully funded 30,000-meter drill program at the site, with Phase 1 targeting the "A" zone. The company maintains a healthy financial standing, with a working capital of approximately C$13.4M and an exploration budget of $8.1M for 2025-2026.