Formation Metals Intersects 0.95 g/t Au over 61.1 Metres, including 1.68 g/t Au over 26.5 Metres at the Advanced N2 Gold Project; Bulk-Tonnage Gold Target Identified with 8 Kilometres of Strike to Explore Highlights:N2-25-007: 1.3 g/t Au over 22.2 metres beginning at 139.9 metres downhole, 121.2 metres vertical. Highlight interval includes 2.36 g/t Au over 10.5 metres.N2-25-008: 0.95 g/t Au over 61.1 metres beginning at 109 metres downhole, 94.4 metres vertical. Highlight interval includes 1.68 g/t Au over 26.5 metres.N2-25-010: 1.43 g/t Au over 19.4 metres beginning at 117.5 metres downhole, 101.8 metres vertical. Highlight interval includes 2.23 g/t Au over 7.0 metres.N2-25-007, 008 and 010 confirm the downhole continuity of N2-25-005 and N2-25-012 (see PR dated February 12, 2026), demonstrating that the main mineralized veining system exhibits classic pinch-and-swell, tabular-lens morphology, with widths exhibiting structural control that fluctuates between 20 and 61 metres and is up to at least 85 metres in width. The main target remains open at depth to the south, and along strike to the east and west across an 8 kilometre corridor.Secondary and tertiary vein sets were identified above and below the primary target, indicating significant potential for a larger open-pit resource than previously indicated. VANCOUVER, BC / ACCESS Newswire / February 24, 2026 / Formation Metals Inc. ("Formation" or the "Company") (CSE:FOMO)(FSE:VF1)(OTCQB:FOMTF), a North American mineral acquisition and exploration company, is pleased to announce results from drillholes N2-25-007, N2-25-008 and N2-25-010, completed as part of its on-going fully funded 30,000 metre drill program at its flagship N2 Gold Property ("N2" or the "Property").Located 25 km south of Mattagami, Quebec, N2 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 zone2,4. The Company has working capital of ~C$12.1M with zero debt.The Company's ongoing drilling campaign has surpassed expectations, confirming continuity of mineralization while delivering robust high-grade gold intercepts in holes N2-25-007, N2-25-008, and N2-25-010. These drillholes were designed to target mineralization in different horizons to the south and beneath N2-25-005 and N2-25-012, where the Company identified the following wide, continuous near-surface intercepts:N2-25-005: 0.91 g/t Au over 42.3 metres beginning at 14.0 metres downhole, 9.9 metres vertical. Highlight intervals include 2.04 g/t Au over 8.1 metres and 1.31 g/t Au over 11.4 metres.N2-25-012: 1.75 g/t Au over 30.4 metres beginning at 64.1 metres downhole, 45.3 metres vertical. Highlight intervals include 3.51 g/t Au over 10.5 metres and 19.2 g/t Au over 0.51 metres.N2-25-007, N2-25-008, and N2-25-010 were spaced nearly fifty metres apart, and the results confirm the existence of a high-grade, bulk-tonnage system at depth, further validating the findings of the historical drilling, significantly enhancing confidence in the geological model and reducing technical risk for future development.Significantly, aside from demonstrating the continuity of the main target veins, these drillholes also identified secondary and tertiary vein sets that sit above and below the primary target where N2-25-007 intercepted 0.45 g/t Au over 12.6 metres and 0.67 g/t Au over 18.5 metres above, and N2-25-008 and N2-25-010 respectively intercepted 0.55 g/t Au over 8.4 metres and 0.78 g/t Au over 11.5 metres below. The continuity of these sets, if demonstrated across the full 8 kilometres of strike, would have significant positive impacts on a future open pit, with a potential mining envelope being widened significantly up to approximately 80 metres in downhole mineralized accumulative thickness and about 85 metres width.To date, 33 drillholes have been completed for a total of 10,836 metres. Assays for 20 drillholes are currently pending, providing a steady stream of upcoming catalysts as the Phase 1 program continues.Deepak Varshney, CEO of Formation Metals, commented: "The Phase 1 results continue to exceed our expectations, with N2-25-007, N2-25-008, and N2-25-010 demonstrating that the A-Zone is a significant open-pit target. With the historic resource only comprising 1.5 kilometres of strike in the northern corridor, we have over 6 kilometres to drill at a project where we have now demonstrated the primary zone is at least 20 metres thick and about 85 metres wide. This primary zone, along side the secondary and tertiary vein systems, is a substantial target, and we are very excited to continue to execute our fully funded 30,000 metre drill program as we advance what is quickly becoming an open pit target in the Abitibi."Formation's Phase 1 drilling program, comprised of 14,000 metres, is designed to:Resource confidence and conversion: Infill shallow gaps to improve c