N2 Gold Project

Formation Metals (FOMTF) announced an upsized C$8.6M financing via LIFE units and a flow-through private placement to advance its N2 Gold Project in Quebec. The funding will increase working capital to ~$13M and the exploration budget to ~$8.5M+, supporting a 20,000-meter drill program. Phase 1, already underway, targets the “A” and “RJ” zones. The offering involves potential dilution and a hold period for flow-through shares. The N2 Gold Project boasts a historical resource of ~870,000 ounces with multiple zones open for expansion.

Formation Metals is expanding its maiden drill program at the N2 Gold Project in Quebec to 7,500 meters. The program, starting in July, targets previously identified gold zones and aims to discover new mineralized trends across the advanced project, which holds a historical resource of approximately 870,000 ounces. The company also notes significant base metal potential at the N2 property.