Formation Capital Corporation Company Website Incorporated in 1988, Formation Capital Corporation (FCO-TSX) is a well established, Toronto Stock Exchange Main Board listed, mineral exploration, development and refining company. The Company is led by a highly qualified technical team of mining engineers, geologists, administrative personnel, permitting, metallurgical and cobalt marketing specialists. Formation is dedicated to the principles of environmentally sound mining and refining practices, and believes that environmental stewardship and mining can co-exist. The Company trades on the Toronto Stock Exchange under the symbol FCO. The Company's primary assets include the Idaho Cobalt Project (ICP) and the Big Creek Hydrometallurgical Complex that includes the Sunshine Precious Metals Refinery. The ICP, a high grade primary cobalt deposit unique to North America, located near Salmon, Idaho, is slated to produce approximately 1,525 tons annually of super-alloy grade high purity cobalt metal over a minimum ten year mine life. In July, 2007, a positive National Instrument 43-101 compliant bankable feasibility study was received. A final Environmental Impact Statement and Record of Decision for the project is expected in Q2/Q3 of 2008. The Idaho Cobalt Project also has its own website where interested parties can learn more about cobalt, its many uses - in particular its varied applications in environmental uses - and how this project will benefit the local county and state economies while preserving and respecting the environment. Visit www.idahocobalt.com The Sunshine Precious Metals Refinery, located in the world famous Silver Valley of Northern Idaho, has been operational since June, 2004 and is processing client material and continues to attract new customers. For more information on precious metals refining opportunities visit www.sunshinerefinery.com

FORMATION CAPITAL (Toronto: FCO.TO) Last Trade: 5/16/2008 at 3:55pm $0.51 $+0.02 (+4.08%) Bid (Size) $0.51 (N/A) Ask (Size) $0.52 (N/A) Last Price $0.51 Change $ +0.02 (+4.08%) Opened @ 0.49 Previous Close 0.49 Volume 1302900 Avg. Daily Volume 314283 Day Range 0.48 - 0.51 Tick  ======