VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 24, 2011) - Formation Metals Inc. (TSX:FCO) (the "Company) announced today that, as per the Company's news release dated January 27, 2011, it is in the process of finalizing a short form prospectus in relation to its previously announced $80,000,000 equity offering. Details of the offering, including the pricing of the units, have yet to be determined. The Company will announce the details of the offering in the form of a news release once the short form prospectus has been finalized and receipted by the British Columbia Securities Commission. Other than the foregoing, the Company is unaware of any developments which may be affecting the price of the Company's shares.

Formation Metals Inc.

Mari-Ann Green, CEO