FOMO turns up the heat at N2 as second drill rig hits the ground and first assays expected shortly

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 expectation that pending assay results from the ongoing Phase-1 drill program may confirm the presence, continuity and grade of mineralization at the N2 Project; the interpretation that the thickness, continuity and shallow depth of mineralization observed to date may support the potential for a conceptual open-pit gold resource; the potential for the Company’s fully funded multi-phase 30,000 m drill program to expand known mineralized envelopes across multiple zones, contribute to the delineation of a future NI 43-101 compliant mineral resource estimate, or support subsequent resource updates; the possibility that continued drilling, structural interpretation, geophysical surveys and modelling may identify additional mineralized corridors, extensions at depth or higher-grade domains; the expectation that a maiden mineral resource estimate targeted for Q3 2026 may represent a meaningful de-risking milestone relevant to strategic or corporate development interest; 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. The presence of visually identified mineralization, alteration, sulphides or visible gold does not guarantee the presence of economically significant gold grades. Pending assay results may return lower-than-expected grades, narrower mineralized intervals or inconsistent results. Mineralization may not be continuous along strike or at depth as currently interpreted and geological models may change with additional drilling. Sampling, assay and QA/QC risk: Descriptions of mineralization in this article are based on geological interpretation and visual observations and do not replace laboratory assay results. Coarse-gold effects, sampling bias, analytical variability, QA/QC issues, laboratory capacity constraints or delays in assay turnaround may affect the reliability, timing or interpretation of results. Historical estimate and data verification risk: The N2 Project contains historical mineral resource estimates that are not compliant with current NI 43-101 standards as well as extensive historical drilling. There is no assurance that historical estimates will be verified, reproduced or converted into current mineral resources or reserves. Verification work may reveal differences in grade, tonnage, geometry, metallurgical response or continuity that materially alter project interpretation. Mineral resource estimate risk: Any maiden mineral resource estimate prepared under NI 43-101 will be subject to key assumptions and interpretive parameters including geological modelling, domaining, cut-off grade selection, density assumptions, metallurgical recovery, compositing, variography, search parameters and other geostatistical inputs. Mineral resource estimates are inherently uncertain and may change with new data, revised assumptions or updated modelling. Conceptual development risk: Any references to a conceptual open-pit resource, bulk-tonnage scenarios or potential development pathways are conceptual in nature. Key parameters such as strip ratio, metallurgy, geotechnical conditions, hydrology, environmental constraints, permitting requirements and economic thresholds may not be established at this time. Future drilling and technical studies may determine that 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 the scope of exploration activities. Commodity price and macroeconomic risk: The potential economic relevance of the N2 Project is sensitive to gold prices, which are volatile and influenced by macroeconomic conditions beyond the Company’s control. Declines in gold prices may negatively affect project economics, investor sentiment, financing conditions and potential strategic interest. Financing and liquidity risk: While the current drill program is described as fully funded, additional exploration, resource delineation, metallurgical work and any future development 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 N2 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 the 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 Formation Metals Inc.’s public disclosure filings. Mineralization in similar rocks or nearby deposits is not necessarily indicative of mineralization on the Company’s properties. Historical work and data have not necessarily been independently verified and should not be relied upon as current. Surface sampling, where referenced, does not necessarily correlate with drilling results and only indicates potential for mineralization that may or may not be confirmed by drilling.

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.