Formation Metals Intercepts Strong Mineralization Including Visible Gold at the Advanced N2 Gold Project Highlights:Visible gold observed in two of the first thirteen drill holes including within a 30.8 metre interval drilled in the "A" and "RJ" zones. Formation is presently undertaking the first drill campaign at N2 since 2008, when Agnico drilled the "RJ" Zone where historical drilling identified high-grade intercepts as high as 51 g/t Au over 0.8 metres2.The Company is undertaking a fully funded 30,000 metre drill program at its flagship N2 Gold Project in Quebec, host to a global historic resource of ~871,000 ounces comprised of 18 Mt grading 1.4 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 (~61,000 oz Au) across the RJ zone2,4.Phase 1, consisting of 10,000 metres, commenced on September 25, 2025. In addition to the "RJ" Zone, Phase 1 targets the "A" zone, a shallow, highly continuous, low-variability historic gold deposit with ~522,900 ounces of which only ~35% of strike has been drilled (>3.1 km open).The Company has working capital of ~C$13.7M with zero debt. Inclusive of provincial tax credits from the Quebec government, Formation's exploration budget for 2025-2026 is set at ~$8.1M. VANCOUVER, BC / ACCESS Newswire / November 26, 2025 / Formation Metals Inc. ("Formation" or the "Company") (CSE:FOMO)(FSE:VF1)(OTCQB:FOMTF), a North American mineral acquisition and exploration company, is pleased to provide an update from the drilling campaign underway at its flagship N2 Gold Property ("N2" or the "Property"), located 25 km south of Matagami, Quebec.The Company is pleased to announce that it has intercepted fine-grained visible gold (VG, Figure 1) during its Phase 1 of its drilling campaign at N2 as part of its fully funded multi-phase 30,000 metre drill program at N2.Drill hole N2-25-001: Visible gold was intercepted within a 4.5 metre pyrite mineralized interval associated with quartz-carbonate veining typical of the historical mineralization identified.Drill hole N2-25-013: Visible gold intercepted within a 30.8 metre interval of pyrite mineralized interval associated with the quartz-carbonate vein system that is typical of the historical mineralization identified.Figure 1 - Visible gold discovered in the mineralized interval within N2-25-013. Deepak Varshney, CEO of Formation Metals, commented: "We are very thrilled with the findings of our maiden drill program at N2 to-date. The identification of visible gold in these holes demonstrates there is very strong high-grade potential at N2. N2-2025-013 in particular, located within the primary gold-bearing corridor of the "A" zone, shows that there is strong potential for high-grade zones within the bulk tonnage resource."Mr. Varshney continued: "With nearly fourteen million in working capital and 30,000 metres fully funded, Formation is in a strong position to execute on our goal of developing N2 into a near-surface multi-million-ounce deposit. With gold breaking $4,000, over 5 times the price in 2008 when Agnico last drilled the project, we believe that the timing is perfect for N2 and look forward to sharing further updates int he coming weeks."The drilling at N2, which is host to a global historic resource of ~871,000 ounces comprised of 18 Mt grading 1.4 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 (~61,000 oz Au) across the RJ zone2, is designed to focus on discovery drilling at new high-potential targets along the mineralization strikes at the "A", "RJ" and "Central" zones in the northern part of the Property in order to discover new auriferous trends and unlock new zones of gold mineralization. The program will also focus on high-priority infilling and expansion targets in these zones to significantly enhance the auriferous zones identified to-date.Historical highlights from the top two priority zones include:A Zone:A shallow, highly continuous, low-variability historic gold deposit with ~522,900 ounces identified at a grade of 1.52 g/t Au. ~15,000 metres have been drilled historically across 1.65 km of strike, with over 3.1 km of strike remaining to be tested. 84% of historical drillholes intercepted auriferous intervals including up 1.7 g/t over 35 m.RJ Zone:a high-grade historic gold deposit with ~61,100 ounces identified at a grade of 7.82 g/t Au, with high-grade intercepts from historical drill holes as high as 51 g/t Au over 0.8 metres and 16.5 g/t Au over 3.5 metres2. This zone was the target of the most recently drilling at the Property by Agnico-Eagle Mines in 2008, when the price of gold was ~US$800/oz. Only ~900 metres of strike has been drilled, with 4.75+ km of strike remaining to be tested.Figure 2 - PDDH design for the complete 30,000 metre Drill Program. Project SummaryComprising 87 claims totaling ~4,400 ha within the Abitibi sub province of Northwestern Quebec, Formation's flagship N2 Gold Project is an a