Formation Capital Corporation Financial News

Biological Opinions Grant Endangered Species Act Exemption Permit for Idaho Cobalt Project
Vancouver, B.C., May 29, 2008 - Formation Capital Corporation ("Formation", FCO-TSX,) is pleased to announce that its wholly owned subsidiary, Formation Capital Corporation, U.S. (the "Company") is in receipt of copies of the Biological Opinions for its Idaho Cobalt Project ("ICP") completed by National Oceanic and Atmospheric Administration's National Marine Fisheries Service ("NMFS") and the U.S. Fish and Wildlife Service ("USFW"). The finalized reports conclude that the ICP, as proposed, is not likely to jeopardize the continued existence of Endangered Species Act listed or regionally sensitive species and is not likely to destroy or adversely modify designated critical habitats for those species. More >>>

Biological Opinion Completed on Idaho Cobalt Project, Formation Hires Environmental Manager
Vancouver, B.C., May 22, 2008 - Formation Capital Corporation ("Formation", FCO-TSX,) is pleased to announce that its wholly owned subsidiary, Formation Capital Corporation, U.S. (the "Company") has been advised that the Biological Opinions for its Idaho Cobalt Project ("ICP") have been completed by National Oceanic and Atmospheric Administration and U.S. Fish and Wildlife Service. The finalized reports are expected to be received by the Company in a matter of days. The Biological Opinions are the last documents required to finalize the Environmental Impact Statement and Record of Decision for the ICP. The Company is developing the ICP, a primary cobalt mine in Lemhi County, Idaho, and is currently operating the Sunshine Refinery, part of the Big Creek Hydrometallurgical Facility in Shoshone County, Idaho. More >>>

Detailed Design and Procurement of Idaho Cobalt Project Mine & Concentrator 65% Complete
Vancouver, B.C., May 01, 2008 Formation Capital Corporation (FCO-TSX) has been provided an update by its wholly owned subsidiary, Formation Capital Corporation, U.S. ("the Company") regarding the Engineering and Procurement status of its 100% owned Idaho Cobalt Project (ICP) located near Salmon, ID. More >>>

Formation Capital Receives Annexation Approval for Staging Property
Vancouver, B.C., April 02, 2008 Formation Capital Corporation (FCO-TSX), has been informed by its wholly owned subsidiary, Formation Capital Corporation, U.S. ("the Company") located in Salmon, Idaho, that the Salmon City Council has given its official final approval to the annexation of property that will be used as a personnel and materials transfer site by the Company for its Idaho Cobalt Project. The annexation allows the Company to use Salmon City services such as water and sewer, thus precluding the need for water well and septic permits. More >>>

Formation Capital Receives Water Right Permit for Idaho Cobalt Project
Vancouver, B.C., March 13, 2008 Formation Capital Corporation (FCO-TSX), announced today its wholly owned subsidiary, Formation Capital Corporation, U.S. ("the Company") located in Salmon, Idaho, has received a Water Right Permit from the Department of Water Resources of the State of Idaho for its proposed 100% owned Idaho Cobalt Project. The Company is very pleased with this latest advancement as it represents a significant development in the overall permitting process for the project. More >>>

Highest Grade Uranium Mineralization to date Encountered on Virgin River Project
Vancouver, B.C. March 07, 2008 - Formation Capital Corporation (the "Company", FCO-TSX,) is pleased to provide its shareholders with an update on its Virgin River Uranium Project, as provided to the Company by project operator, Cameco Corporation. Located within the south-central portion of the Athabasca Basin in northern Saskatchewan, the project is a joint venture formed in 1998 between Formation Capital Corporation's wholly owned Canadian subsidiary, Coronation Mines Limited, and UEM, jointly owned by Cameco Corporation and by AREVA Resources Canada Inc. Coronation Mines Limited owns 2% of the project with a right to increase its ownership of the project up to 10% under certain circumstances. More >>>

Completed Biological Assessment Significantly Advances Permitting on Idaho Cobalt Project
Vancouver, B.C., January 09, 2008, Formation Capital Corporation, (Formation, FCO-TSX), announced today its wholly owned subsidiary, Formation Capital Corporation, U.S. ("the Company") located in Salmon, Idaho, reports the United States Department of Agriculture Forest Service (USFS) has completed the Biological Assessment and Biological Evaluation (BA) of the effects of the Idaho Cobalt Project (ICP) on listed or regionally sensitive species under the Endangered Species Act. More >>>

Formation Capital Hires General Manager for Idaho Cobalt Project
Vancouver, B.C., January 8, 2008 - Formation Capital Corporation (the "Company", FCO-TSX,) is pleased to announce the appointment of Mr. Guy Jeske as General Manager for the Underground Mine and Mill of the Company's Idaho Cobalt Project. Formation Capital is developing a primary cobalt mine in Lemhi County, Idaho, and is currently operating the Sunshine Hydrometallurgical Facility in Shoshone County, Idaho. More >>>