N2 Gold Project
~4,400 hectares in the Casa Berardi Deformation Zone, ~25 km south of Matagami, Quebec. Approximately 871,000 ounces of gold in historical estimates across five of the property's six documented mineralized zones.* Acquired from Wallbridge Mining, 100% owned.
N2 Sits on a Proven Gold Trend
Formation Metals' N2 Project is located along the Casa Berardi Deformation Zone in Quebec's Abitibi Greenstone Belt, a regional structure that has produced over 200 million ounces of gold historically and continues to host active producers and recent major transactions.
Adjacent Property Sources: 1 Orezone Gold Inc. news release, January 26, 2026; Hecla Mining Company 2024 Reserves and Resources tables (R&R PDF). 2 Vior Inc. Vezza-Noyard project page (current adjacent claim-holder confirming Vezza as past-producing gold mine last operated by Nottaway Resources). 3 Maple Gold Mines Ltd., Updated Douay Mineral Resource Estimate, March 17, 2022. 4 Abitibi gold belt historical production overview; >200 Moz produced since 1901 across Ontario/Quebec segments of the belt. The Qualified Person has not verified the information disclosed by these third parties. References to mineralization, deposits, mines, production, or resources on adjacent or nearby properties are for geological context only and are not indicative of mineralization on the Company's properties. The Company has not defined any current mineral resources or mineral reserves on the N2 Gold Project.
From the Ground, February 2026
Five Phase 1 holes have returned assays. Each one validates the historical geological model. 20 additional holes are pending assay from two active rigs across the 8-km corridor.
Six Historically Mineralized Zones
Gold mineralization has been documented across six zones at the N2 Project. The historical estimate of approximately 871,000 ounces of gold* covers five of those zones (A, East, RJE, South, and RJ). The sixth zone is the hanging-wall RJ discovery identified by Agnico-Eagle Mines in 2007-2009, which is not included in the historical estimate. The historical estimate does not conform to current CIM Definition Standards. The Company's fully funded 30,000-metre drill program is designed to generate modern assay data from the historically mineralized zones.
Only ~35% of the A Zone historical strike has been drill-tested. The deepest hole reached 682 m and the average drilled depth is 244 m. Historical mineralization remains documented along strike and at depth across each zone.
*Historical Estimate Cautionary: The historical estimate of approximately 871,000 oz Au referenced above comprises approximately 18 Mt grading 1.4 g/t Au (~810,000 oz Au) across the A, East, RJE and South Zones, plus approximately 243 Kt grading 7.82 g/t Au (~61,000 oz Au) at the RJ Zone. The historical estimate was prepared by previous property owners (per source documents Needham, B., 1994, Cyprus Canada Inc., 492 pages; Guy, K., 1991, Total Energold, 227 pages; Quebec MRNF assessment filing GM 52792) prior to the adoption of the current CIM Definition Standards for Mineral Resources and Mineral Reserves and does not conform to those standards. Key parameters applied by the original authors to all five zones with historical estimates include a 0.5 g/t Au cut-off and a 2.5 m minimum mining width. Pre-1994 Cyprus Canada work underlying the historical estimate totalled approximately 160 diamond drill holes and 24,714 metres of drilling; the broader property inventory of 236 drill holes and 55,517 metres referenced elsewhere on this site includes post-1994 drilling (notably Agnico-Eagle 2007-2009 work at the RJ hanging wall) which is not included in the historical estimate. A qualified person has not done sufficient work to classify the historical estimate as a current mineral resource or mineral reserve. The Company is not treating the historical estimate as a current mineral resource or mineral reserve. Significant work, including data compilation, re-drilling, verification sampling and qualified person review, is required before the historical estimate could be considered as a current mineral resource under current CIM Definition Standards. The technical content of this section has been reviewed and approved by Mr. Babak V. Azar, P.Geo., géo (OGQ#10876), an independent contractor and a Qualified Person as defined under National Instrument 43-101.
The Drill Program Is Funded.
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Led by Geologists. Backed by Operators.
The management team and largest shareholders are from the Varshney Family Office - three decades of successfully founding and funding mining and real estate projects totalling $100M+.
Deepak Varshney, P.Geo.
Over a decade in capital markets and mineral exploration. Instrumental in raising over $40 million in the last three years. Bachelor of Science in Geosciences from Simon Fraser University.
Adrian Smith, P.Geo.
Corporate advisor and resource executive with experience in precious and base metals across North America. Former underground mine geologist - identified, modeled, and produced ore beyond known reserves.
Babak V. Azar, P.Geo., géo
Independent contractor and Qualified Person as defined under National Instrument 43-101. Reviews and approves the technical and scientific content disclosed by Formation Metals, including drill results, historical estimate disclosures and adjacent property references.
Roger Rosmus
Founder and CEO of Goliath Resources Limited. Provides strategic counsel on exploration and corporate development. Extensive track record in the Abitibi and Golden Triangle regions.
Sources: capital-raise track record per Formation Metals Q2 2026 Investor Presentation and financings on SEDAR+ issuer profile; Adrian Smith role verified via First Atlantic Nickel Corp. corporate disclosure; Roger Rosmus role verified via Goliath Resources Limited corporate disclosure.
The Story Is Unfolding
Two rigs turning. Visible gold in core. Drill results incoming. Get them first.
dvarshney@formationmetalsinc.com · 778-899-1780