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May 28, 2013

Formation Metals Welcomes New Board Member Gregory Hahn

Vancouver, B.C., May 28, 2013, Formation Metals Inc. (FCO-TSX) (“Formation” or “the Company”) announced today that it has added Mr. Gregory Hahn to its current Board of Directors. Mr. Hahn is the Principal of Greg Hahn Consulting LLC of Lakewood Colorado that provides technical and management advisory services to the mining industry and is a Certified Professional Geologist.

Mr. Hahn brings a diversified set of geological and mining skills to the Board with over three decades of mining industry experience. He is currently the President and COO of Canamex Resources Corp. Previously Director and Interim President & CEO of Metalline Mining Company, he was responsible for restructuring the company in a merger that resulted in an increase in market capitalization from $40 million to over $140 million in eight months. He has served on the board of numerous companies, including Marathon PGM Corporation, which eventually was sold to Stillwater Mining for $170 million at a significant premium to the market. Former President and CEO of Constellation Copper Corporation, he formed Summo Minerals (which became Constellation) and took it public on the TSX raising over $100 million in equity. Here he supervised senior management team of mining professionals and managed a $300 million public mining company with 170 employees, while directing a feasibility study on +$500 million zinc-copper mine/mill/refinery complex. Mr. Hahn was also former District and Senior Geologist and chief Mine Geologist with Noranda (now Xstrata) on the Blackbird Development Project, located adjacent to the Company’s 100% owned Idaho Cobalt Project. Mr. Hahn is considered an expert on the Idaho Cobalt Belt, having worked in the district publishing numerous papers on the Idaho Cobalt metallogenic Belt.

“We are very pleased to have Greg join our Board”, commented Mari-Ann Green, CEO of Formation Metals Inc. “We have known Greg for a number of years and having served with him on the Northwest Mining Association Board of Trustees, I am personally very gratified to see him take on an active role with Formation Metals that I am confident will benefit all shareholders.”

The Board of Directors of Formation Metals Inc. now consists of eight members, namely, Ms. Mari-Ann Green, Chairman & C.E.O., Mr. J. Scott Bending, President, W.G. (Bill) Scales, Executive V.P., Dr. David Stone, Director, Mr. Robert Metka, Director, Mr. James Engdahl, Director, Mr. Robert J. Quinn, Director, and Mr. Greg Hahn, Director. Governor Cecil D. Andrus remains Director Emeritus.

Formation Metals Inc. is dedicated to the principles of environmentally sound mining and refining practices, and believes that environmental stewardship and mining can co-exist. Formation trades on the Toronto Stock Exchange under the symbol FCO.

Formation Metals Inc.
“Mari-Ann Green”
Mari-Ann Green
C.E.O.

For further information please contact:
E.R. (Rick) Honsinger, P.Geo., V.P. Corporate Communications
Formation Metals Inc., 1810 — 999 West Hastings Street, Vancouver, BC, V6C 2W2
Tel: 604-682-6229 - Email: inform@formationmetals.com — Web: formationmetals.com

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This news release contains “forward-looking statements” within the meaning of applicable Canadian securities legislation. Generally, forward-looking statements can be identified by the use of forward- looking terminology. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company does not undertake to update any forward-looking statements that are contained herein, except in accordance with applicable securities laws. Further information on the Company is available at www.sedar.com.

The statements contained in this news release in regard to Formation Metals Inc. that are not purely historical are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including Formation Metals Inc.’s beliefs, expectations, hopes or intentions regarding the future. All forward-looking statements are made as of the date hereof and are based on information available to the parties as of such date. It is important to note that actual outcome and the actual results could differ from those in such forward-looking statements. Factors that could cause actual results to differ materially include risks and uncertainties such as technological, legislative, corporate, commodity price and marketplace changes.

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May 27th, 2013, Formation Metals Inc.'s Fiscal Year-End Audited Financial Statements
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June 6th, 2013, Formation Metals Enters Binding Letter Agreement to Sell Refinery for US$9.0 Million Cash