Five Reasons to Own
Formation Metals
A funded drill program, a historical gold system with only ~1.65 km of a potential 8 km corridor drilled at the A-Zone, and a maiden resource estimate on the horizon, in one of the world's most productive gold belts.
An Open-Pit Target Is Emerging
Fifteen Phase 1 holes have returned assays consistent with a bulk-tonnage open-pit model. The mineralized envelope reaches 85 m+ in width and starts near surface. 49 holes are pending assay.
Significant Exploration Upside
Only ~1.65 km of a potential 8 km corridor has been drilled at the A-Zone. The corridor has secondary and tertiary vein sets identified above and below the primary target. In June 2026 we stepped 200 m west of the historically drilled A-Zone into undrilled ground and hit 1.05 g/t Au over 31 m. The system does not stop where the historical drilling did.
A Valuation Disconnect
Formation trades at a fraction of the enterprise value per historical ounce of comparable Abitibi explorers and developers. A maiden CIM-compliant resource estimate is targeted for Q1 2027.
Funded and Tightly Held
~C$26.3M working capital, nil debt, 153.0M shares outstanding and ~60% insider, management and strategic ownership. Fully funded through the drill program and the resource estimate, with no financing required to reach the next value inflection.
Share capital as at September 16, 2026, per the Corporate Presentation dated September 2026; working capital as at August 31, 2026 (unaudited; not a standardized IFRS measure), as reported in the Company's news releases of September 8 and 22, 2026.
A Tier-One Jurisdiction
The Abitibi Greenstone Belt has produced over 200 million ounces of gold. N2 sits 1.5 km from the Vezza mine headframe and about 115 km from Casa Berardi. All permits in hand.
The ~871,000 oz figure referenced on this page is a historical estimate that is not compliant with current CIM Definition Standards and is not being treated as a current mineral resource or mineral reserve. Statements regarding the drill program and the targeted maiden mineral resource estimate are forward-looking. See Cautionary Statements.