Five Reasons to Own
Formation Metals
A funded drill program, a historical gold system with less than 35% of its strike tested, 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. 34 holes are pending assay.
Significant Exploration Upside
Less than 35% of A-Zone strike has been tested with modern methods. The property hosts an 8 km structural corridor, with secondary and tertiary vein sets identified above and below the primary target. In June 2026 we stepped 200 m west of the historic resource 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 Q4 2026.
Funded and Tightly Held
~C$27.0M working capital, nil debt, 150.2M shares outstanding and ~60% insider, management and strategic ownership. Fully funded through the drill program and the resource estimate — no financing required to reach the next value inflection.
All capital structure figures as at June 10, 2026, per the Corporate Presentation dated July 21, 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 50 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.