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Dear Fellow Shareholder,

As many of you know, Formation Metals has recently been challenged by a Dissident Shareholder regarding the recently announced proposed sale of the Company’s precious metals refinery and has sought to obtain injunctions restraining the Company and the buyer from proceeding with the sale of the refinery, and in addition, has commenced proceedings against the directors of the Company based on unfounded allegations of breach of fiduciary duty.

Formation considers these allegations without merit, and that this is designed to disrupt the business of the Company for collateral purposes related to the Dissident’s announced intention to contest the election of directors at the upcoming Annual General and Special Meeting of the Company on June 21, 2013. The claims are being vigorously opposed.


Your current management has a clear vision forward; maintain a healthy and strong treasury, conserve cash, eliminate debt, divest of money losing operations, seek additional opportunities and ensure the Idaho Cobalt Project remains ready to re-start construction, once financed, without delay.

The Dissident’s only vision forward is to conduct a review of the Company’s operations.

The deadline for voting your proxies is 10:00 A.M. Pacific Time, tomorrow, Wednesday, June 19, 2013.


DON’T DELAY, VOTE TODAY

Go to our webpage

VOTE YOUR WHITE PROXY






We need your vote to maintain Formation’s vision of becoming North America’s sole producer of high purity cobalt.

Sincerely,

Formation Metals Inc.
Mari-Ann Green
CEO

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Our company BYLSA DRILLING provides drilling services in a variety of environments, ranging from typical exploration sites to extreme topographic conditions, always with the highest quality and safety standards.