First assays support the pit case: FOMO confirms wide, shallow gold mineralization

Disclaimer and Information on Forward Looking Statements: Rockstone, Zimtu Capital Corp. (“Zimtu“) and Formation Metals Inc. (“FOMO“; “the Company“) caution investors that any forward-looking information provided herein is not a guarantee of future results or performance, and that actual results may differ materially from those in forward-looking information as a result of various factors. The reader is referred to the FOMO‘s public filings for a more complete discussion of such risk factors and their potential effects which may be accessed through its documents filed on SEDAR at www.sedarplus.ca. All statements in this article, other than statements of historical fact, should be considered forward-looking statements. This article contains forward-looking statements within the meaning of applicable securities laws. Forward-looking statements include, but are not limited to, statements regarding: The interpretation of the initial Phase 1 assay results and their implications for the thickness, continuity, geometry and grade distribution of mineralization at the N2 Project; the expectation that additional assay results pending from the ongoing Phase 1 drill program may further confirm continuity, expand mineralized envelopes along strike and at depth or identify higher-grade domains; the potential for the Company’s fully funded Phase 1 drill program and broader multi-phase drill strategy to support a future NI 43-101 compliant mineral resource estimate and subsequent updates; the expectation that ongoing drilling, structural interpretation, geophysical surveys and modelling may identify additional mineralized corridors, extensions or new targets across the property; the expectation that confirmatory metallurgical test work will validate recoveries and support future development assumptions; the interpretation that the project may support a conceptual open-pit gold resource and related development pathways, including potential regional processing or toll milling optionality; the expectation that planned timelines, including the target timing of a maiden mineral resource estimate, may be achieved; and statements regarding broader gold market conditions that may influence project economics, financing conditions, investor sentiment or potential strategic outcomes. Forward-looking statements are based on management’s current expectations, interpretations, assumptions and beliefs as of the date of publication and involve known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those expressed or implied. Readers are cautioned not to place undue reliance on forward-looking statements. Key risks and uncertainties include, but are not limited to: Exploration and geological risk: Mineral exploration is inherently speculative. Initial drill results may not be indicative of future results and subsequent assays may return lower-than-expected grades, narrower mineralized intervals or less consistent continuity along strike or at depth. Geological interpretations and models may change as additional drilling and new data are incorporated. Sampling, assay and QA/QC risk: Assay results can be impacted by coarse-gold or nugget effects, sampling bias, analytical variability, QA/QC issues, laboratory capacity constraints or delays in turnaround time, any of which may affect the reliability, timing or interpretation of results. Reported intervals may not represent true widths and true-width interpretations may change as modelling advances. Historical estimate and data verification risk: The N2 Project contains historical mineral resource estimates and extensive historical data that are non-current and not compliant with current NI 43-101 standards. There is no assurance that historical estimates will be verified, reproduced or converted into current mineral resources or reserves and verification work may materially change interpretations of grade, tonnage, geometry, continuity or metallurgical response. Mineral resource estimate risk: Any maiden mineral resource estimate prepared under NI 43-101 will depend on assumptions and interpretive parameters including geological domaining, cut-off grade selection, density, recovery assumptions, compositing, variography, search parameters and other geostatistical inputs. Mineral resource estimates are inherently uncertain and may change with new data or revised assumptions. Metallurgical and technical study risk: Metallurgical performance, recoveries, grind characteristics and variability may differ from expectations and may impact economic assumptions. Conceptual development risk: References to a conceptual open-pit resource, bulk-tonnage scenarios, toll milling optionality or potential development pathways are conceptual in nature. Key parameters such as strip ratio, geotechnical conditions, hydrology, environmental constraints, permitting requirements, capital intensity, operating costs and economic thresholds may not be established at this time and future work may determine the project is not suitable for open-pit mining or economic development. Permitting, regulatory, Indigenous consultation and community risk: Exploration activities are subject to permitting, regulatory approvals, environmental requirements and consultation with Indigenous groups and local communities. Delays, additional conditions, regulatory changes or consultation challenges could materially affect timelines, costs, access and program scope. Commodity price and macroeconomic risk: Project economics and strategic interest are sensitive to gold prices and broader macroeconomic conditions, which are volatile and beyond the Company’s control. Financing and liquidity risk: While the current drill program is described as fully funded, additional exploration, resource delineation, metallurgy and future technical studies will require additional capital. Future financing may not be available on acceptable terms, if at all and may result in dilution to existing shareholders. Operational risk: Exploration activities may be impacted by weather, seasonal limitations, equipment availability, contractor performance, labour constraints, supply-chain disruptions, access conditions, health and safety incidents or unforeseen technical challenges that could affect costs and timelines. Environmental and title risk: Exploration and potential development activities may encounter environmental liabilities or unforeseen impacts requiring mitigation or remediation. Mineral titles and permits, while believed to be in good standing, may be subject to disputes, overlapping land uses, third-party claims or changes in land access regulations. Strategic and M&A risk: Any references to potential strategic interest, partnerships, joint ventures, acquisitions or corporate transactions are speculative. There is no assurance that the project will attract strategic partners or acquirers regardless of exploration success, resource definition or market conditions. Market volatility risk: The Company’s share price may be subject to significant volatility unrelated to exploration results, driven by broader market conditions, macroeconomic factors, sector sentiment and liquidity constraints typical of junior exploration companies. Caution to readers: Forward-looking statements are not guarantees of future performance. Actual results may differ materially due to the risks and uncertainties described above and in the Company’s public disclosure filings. Mineralization in similar rocks or nearby deposits is not necessarily indicative of mineralization on the Company’s properties and historical work and data have not necessarily been independently verified and should not be relied upon as current.

Disclosure of Interest and Advisory Cautions: Nothing in this report should be construed as a solicitation to buy or sell any securities mentioned. Rockstone, its owners and the author of this report are not registered broker-dealers or financial advisors. Before investing in any securities, you should consult with your financial advisor and a registered broker-dealer. Never make an investment based solely on what you read in an online or printed report, including Rockstone’s report, especially if the investment involves a small, thinly-traded company that isn’t well known. The author of this report, Stephan Bogner, is paid by Zimtu Capital Corp. (“Zimtu”), a TSX Venture Exchange listed investment company. Part of the author’s responsibilities at Zimtu is to research and report on companies in which Zimtu has an investment. So while the author of this report is not paid directly by Formation Metals Inc. (“FOMO“), the author’s employer Zimtu Capital Corp. will benefit from volume and appreciation of FOMO‘s stock prices. The author also owns equity of FOMO, and he also owns equity of Zimtu Capital Corp. and thus will benefit from volume and price appreciation of these stocks. FOMO pays Zimtu Capital Corp. to provide this report and other services. FOMO has signed an agreement with Zimtu Capital Corp. (TSX.V: ZC) (FSE: ZCT1) (“Zimtu”) whereby Zimtu will provide marketing services under its ZimtuADVANTAGE program, effective August 1, 2025, for an initial term of 12 months at a cost of $12,500 per month. The program is designed to provide opportunities, guidance, marketing and assistance. Services include investor presentations, email marketing, lead generation campaigns, blog posts, digital campaigns, social media management, Rockstone reports & distribution, video news releases and related marketing & awareness activities. Zimtu is based in Vancouver, at Suite 1450 – 789 West Pender Street, Vancouver, BC V6C 1H2. Zimtu may be reached at 604.681.1568, or info@zimtu.com. Overall, multiple conflicts of interests exist. Therefore, the information provided in this report should not be construed as a financial analysis or recommendation but as an advertisement. Rockstone’s and the author’s views and opinions regarding the companies that are featured in the reports are the author‘s own views and are based on information that was received or found in the public domain, which is assumed to be reliable. Rockstone and the author have not undertaken independent due diligence of the information received or found in the public domain. Rockstone and the author of this report do not guarantee the accuracy, completeness, or usefulness of any content of this report, nor its fitness for any particular purpose. Lastly, Rockstone and the author do not guarantee that any of the companies mentioned in the report will perform as expected, and any comparisons that were made to other companies may not be valid or come into effect. Please read the entire disclaimer carefully. If you do not agree to all of the Disclaimer, do not access this website or any of its pages including this report in form of a PDF. By using this website and/or report, and whether or not you actually read the Disclaimer, you are deemed to have accepted it. Information provided is educational and general in nature. Data, tables, figures and pictures, if not labeled or hyperlinked otherwise, have been obtained from Formation Metals Inc., Tradingview, Stockwatch, and the public domain. The cover picture has been obtained and licenced from 123rf.com.