Essential Power…Infinite Possibilities

March 1, 2006

Dedicated Idaho Cobalt Project Website Now Available

This is Not an Official Company News Release - For the Information of Shareholders & Interested Parties Only

Salmon, ID — The Idaho Cobalt Project, an environmentally sensitive underground cobalt mine under development in Lemhi County, Idaho, now has a web presence — www.idahocobalt.com — with up-do-date information about the project.

The Idaho Cobalt Project is currently awaiting the issuance of a draft environmental impact statement (DEIS) being prepared by the U.S. Forest Service. Once developed, the mine near Salmon, Idaho will be the sole primary cobalt mine in the Western Hemisphere and the only U.S. domestic source of cobalt, which is listed as a strategic metal by the U.S. government.

The new website contains information on the mine development project, the economic impacts of the mine and how the project is designed to protect the local environment. The site also has extensive information on the uses of cobalt - a “green” metal that has thousands of applications from electronics to jet engines, from medical devices to hybrid electric automobiles.

The Idaho Cobalt Project website also has a feature to allow visitors to sign up for future e-mail messages and to ask questions about the project. For further information email: questions@idahocobalt.com.


Formation Capital Corporation, U.S.
View the Previous News Release:
February 27th, 2006, Company Receives Draft EIS and Proposes Environmental Enhancements on Cobalt Project
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March 2nd, 2006, 2006 Exploration Program Commences on Virgin River Project