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Highlights:Significant mineralized sections have been intercepted within N2-25-003 and N2-25-008, 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 metres.N2-25-003: 152.9 metres of target mineralization was intercepted beginning at 23.1 metres downhole, with multiple intervals over 30 metres in width up to 37.9 metres.N2-25-008: 208.8 metres of target mineralization was intercepted beginning at 28.6 metres downhole, with multiple intervals over 40 metres in width including up to 70.0 metres.The intense quartz-carbonate veining, silicification, and sulfide mineralization (pyrite/arsenopyrite) observed visually in the core of N2-25-003 and N2-25-008 are directly comparable to the material that yielded long gold intervals in historical drilling within these zones including 245-91-151, which intercepted 1.7 g/t Au over 35.0 metres.N2-25-003 and N2-25-008 build on the Company's findings at N2-25-001 and N2-25-013, where the Company identified visible gold including within a 30.8 metre interval (see press release dated November 26, 2025).Formation is targeting a multi-million ounce resource in a combination of conceptual open-pit and underground mining scenarios; the Company's maiden drill program is focused on assessing the first three hundred metres vertical.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$13.5M with zero debt. Inclusive of provincial tax credits from the Quebec government, Formation's exploration budget for 2025-2026 is set at ~$8.1M.

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