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 FORMATION CAP J (FCO.T)

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cvac01
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PostSubject: Re: FORMATION CAP J (FCO.T)   Fri Jun 27, 2008 7:22 am

June 27, 2008
Formation Capital Corporation: In-Fill Drilling on Virgin River Uranium Project Confirms Continuity of Mineralization
VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 27, 2008) - Formation Capital Corporation (the "Company") (TSX:FCO), 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 Inc., 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.

Work completed during the winter 2008 program consisted of a total of 91.2 km of linecutting, 122 km of electromagnetic surveys and 24 km of gravity surveys. Diamond drilling consisted of 4,805 metres in six pilot holes and one wedge hole. Results from previous diamond drilling completed in late 2007 were released in the Company's news release dated March 07, 2008, an abridgement of which is included in the table below.

The in-fill drilling program consisted of pilot holes spaced at 50 metre intervals designed to test part of the entire known 550 metres of strike length of the Centennial Deposit. The Centennial Deposit remains open to the south while determining the specific location of its northern structural offset continues to be an exploration priority. In addition, one off cut (wedge) hole from pilot hole DDH VR-031 on section 10+50N was drilled to ascertain across strike width and further determined that potentially economic uranium grades are present along the Centennial deposit.

Significant mineralization was intersected in three of five pilot holes; DDH-VR-031, 033 and 034. These three pilot holes were successful in tracing mineralization along 150 metres of strike between sections 9+00N and 10+50N. Wedge hole DDH VR-031W, drilled on section 10+50N, was successful in intersecting high grade mineralization and returned an average grade of 7.62% U308 over a true thickness of 17.8 metres resulting in a grade thickness ("GT" where GT equals metres multiplied by % U308) of 135.6mX%. This is the highest GT interval attained on the project to date. The average geochemical assays reported below refer to the average of Induced Coupled Polarization geochemical and Delayed Neutron Count method assays.





----------------------------------------------------------------------------
Average Geochemical Assay (U3O8)
----------------------------------------------------------------------------
Grade
True cut- Max Ave
From To Thick off Grade Grade GT
Drill Hole (m) (m) (m) % (%U3O8) (%U3O8) (mX%)
----------------------------------------------------------------------------
DDH VR-031 W1 790.9 808.7 17.8 0.10 35.45 7.620 135.60
(on Section 10+50N) includes 804.1 808.7 4.6 0.50 18.95 8.220 37.80
includes 790.9 801.0 10.1 1.00 35.45 9.640 97.30
includes 804.7 808.7 4.0 1.00 18.95 9.380 37.50
----------------------------------------------------------------------------
DDH VR-031 788.7 804.5 15.8 0.10 9.89 0.900 14.20
(on Section 10+50N) includes 790.2 791.4 1.2 1.00 2.15 1.370 1.60
includes 791.9 792.7 0.8 1.00 1.54 1.390 1.10
includes 795.5 797.8 2.3 1.00 5.38 2.400 5.50
includes 802.7 803.5 0.8 1.00 9.89 5.570 4.50
----------------------------------------------------------------------------
DDH VR-027 W2 805.7 819.9 14.2 0.50 51.90 9.329 132.46
(Previously
Released) includes 809.6 819.9 10.3 1.00 51.90 12.683 130.63
----------------------------------------------------------------------------
DDH VR-029 W1 797.5 802.0 4.5 0.50 38.20 10.355 46.60
(Previously
Released) includes 798.0 802.0 4.0 1.00 38.20 11.569 46.28
----------------------------------------------------------------------------




Geophysical work completed during the 2008 winter program included time domain electromagnetic and gravity surveys across the entire property covering all known conductors. Data from this survey will be used to further delineate targets for future drilling.

Drill hole DDH VR 032, drilled on Section 11+50N, flattened significantly below the casing and was aborted. Preliminary radiometric probe data for drill holes DDH VR-033 and 034 located on Section 9+50N and 9+00 N respectively, indicates the presence of significant uranium mineralization in these drill holes and final geochemical assay data from these two holes will be released when available. Drill hole DDH VR 035, located on Section 6+00N was drilled to a depth of 743.7 metres when drilling was suspended for break up. Preliminary radiometric data from drill hole DDH VR 036 drilled on Section 12+40N, indicate the presence of a wide interval of elevated radioactivity in the sandstone with an additional radioactive interval intersected in the basement related to faulting. Geochemical assays for this hole will be released when available.

The proposed 2008 summer program consists of 3-4 pilot holes and 10-12 off-cut holes representing an additional 6,000 to 7,000 metres of drilling. The objective remains to complete the in-fill drilling along the entire 550 metre strike length of the Centennial Deposit, determine the across strike width, and ascertain whether additional high-grade uranium grades are present.

To date, over $14 million has been spent on the project exploring for a large unconformity-type deposit that has resulted in the discovery of the Centennial Zone. A budget of $5.5 million was approved for 2008, with approximately $2.5 million having been spent on the 2008 winter program. Project representatives are pleased with the success of the program and are looking forward to the results from the summer 2008 drill program, currently in progress.

All uranium assays were carried out by the Saskatchewan Research Council (SRC) of Saskatoon, Saskatchewan. Mr. Eric (Rick) Honsinger, P.Geo., of Formation Capital Corporation is the Qualified Person who has reviewed and approved the content of this news release based on an examination of the data submitted to the Company by the project operator Cameco Corporation. A location map of the project and drill hole location plan map will be made available on the Company's website at http://www.formcap.com/.

Formation Capital Corporation

Mari-Ann Green, C.E.O.

The statements contained in this news release in regard to Formation Capital Corporation that are not purely historical are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including Formation Capital Corporation's beliefs, expectations, hopes or intentions regarding the future. All forward-looking statements are made as of the date hereof and are based on information available to the parties as of such date. It is important to note that actual outcome and the actual results could differ from those in such forward-looking statements. Factors that could cause actual results to differ materially include risks and uncertainties such as technological, legislative, corporate, commodity price and marketplace changes.

CONTACT INFORMATION:
Formation Capital Corporation
Rick Honsinger, P.Geo
V.P. Corporate Communications
(604) 682-6229
Fax: (604) 682-6205
Email: inform@formcap.com
Website: www.formcap.com

INDUSTRY: Manufacturing and Production - Mining and Metals
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PostSubject: NEWSForest Service Record of Decision Signals Green Light For Idaho Cobalt Project   Mon Jun 16, 2008 3:38 pm

Forest Service Record of Decision Signals Green Light For Idaho Cobalt Project

VANCOUVER, BRITISH COLUMBIA, Jun 16, 2008 (Marketwire via COMTEX News Network) --
Formation Capital Corporation ("Formation") (TSX:FCO) is pleased to announce that its wholly owned subsidiary, Formation Capital Corporation, U.S. (the "Company") is in receipt of a news release issued by the United States Department of Agriculture Salmon Challis National Forest (the "Forest Service") stating a Record of Decision has been issued for the Idaho Cobalt Project (the "ICP"), the contents of which are duplicated below.

"Forest Service Issues Record of Decision for Idaho Cobalt Project

Salmon-Challis National Forest Supervisor Bill Wood has signed the Record of Decision approving a modified Plan of Operations for Formation Capital Corporation's Idaho Cobalt Project, a proposed cobalt mining project located in the Panther Creek drainage west of Salmon.

"The selected alternative, Alternative IV, will require Formation Capital Corporation to modify their proposed Plan of Operations," Wood said. "The modified Plan of Operations will clearly reflect additional requirements including posting of financial assurance for long term water quality management." Wood went on to explain that the Plan will also address terms and conditions from the Biological Opinions provided by the U.S. Fish and Wildlife Service and the National Marine Fisheries Service for management of endangered fishes and will also require the company to obtain a National Pollution Discharge Elimination System permit from the Environmental Protection Agency. These steps will be taken prior to approval of the modified Plan of Operations. Additionally, the Record of Decision requires the company to obtain administrative access and power line easements across adjacent private land prior to commencing ground-disturbing activities. Once Formation Capital Corporation complies with these additional requirements, the mining project may proceed.

The decision also provides a framework for the agencies involved in oversight of the adjacent Blackbird Mine Site remediation to be involved in oversight of the Idaho Cobalt operations to ensure remediation efforts of the Blackbird Mine are not compromised. The Environmental Protection Agency is the lead agency in ensuring remediation standards are met for the restoration of salmon and steelhead fisheries impacted by historic mining activities.

The Record of Decision and associated documents are being mailed to interested members of the public on the project's mailing list, and copies will be available at the Salmon-Cobalt Ranger District Office and Forest Supervisors Office in Salmon. In addition, a copy will be available at the public libraries in Salmon and Challis.

The decision is subject to a 45 day administrative period during which time individuals or groups that have established "standing" may appeal the decision. This process is described in the Record of Decision.

The Environmental Protection Agency and the Idaho Department of Environmental Quality participated as cooperating agencies in the completion of the project's Environmental Impact Statement."

"This is possibly the most critical milestone the Company has reached regarding the Idaho Cobalt Project," commented Mari-Ann Green, CEO of Formation Capital Corporation. "After years of permitting efforts, the Forest Service has issued a Record of Decision that outlines the required modifications to the mine Plan of Operations that, once incorporated, will allow us to commence construction of the mine and mill facilities." She continued, "I'd like to take this opportunity to thank the numerous individuals, agencies and consultants that were involved in the permitting efforts over the years on a job well done. As well I'd like to commend our shareholders who have supported the Company through this extensive and challenging process."

"As we have firmly believed, a sustainable, responsible mine plan can be designed without compromise to the environment. The Forest Service's decision is a testament to that accomplishment," commented Bill Scales, President of Formation Capital Corporation, U.S.

The Company has not yet received a copy of the ROD, which is expected forthwith.

Once in production, Formation's Idaho Cobalt Project will provide the United States with high purity super alloy grade cobalt metal required for critical applications such as the construction of jet airplane engines, land based turbines, catalysts for gas to liquid technology, and batteries used in hybrid and electric cars.

Formation Capital Corporation 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.

Formation Capital Corporation

Mari-Ann Green, C.E.O.

The statements contained in this news release in regard to Formation Capital Corporation that are not purely historical are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including Formation Capital Corporation's beliefs, expectations, hopes or intentions regarding the future. All forward-looking statements are made as of the date hereof and are based on information available to the parties as of such date. It is important to note that actual outcome and the actual results could differ from those in such forward-looking statements. Factors that could cause actual results to differ materially include risks and uncertainties such as technological, legislative, corporate, commodity price and marketplace changes.

SOURCE: Formation Capital Corporation

Formation Capital Corporation E.R. (Rick) Honsinger, P.Geo. V.P. Corporate Communications (604) 682-6229 (604) 682-6205 (FAX) Email: inform@formcap.com Website: www.formcap.com

Copyright (C) 2008 Marketwire. All rights reserv
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cvac01
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PostSubject: Re: FORMATION CAP J (FCO.T)   Mon Jun 16, 2008 2:14 pm

Investment Industry Regulatory Organization of Canada - Trading Halt - Formation Capital Corp - FCO

TORONTO, June 16 /CNW/ - The following issues have been halted by
Investment Industry Regulatory Organization of Canada (IIROC):

Issuer Name: Formation Capital Corp
TSX Ticker Symbol: FCO
Time of Halt: 3:30 pm ET
Reason for Halt: Pending News
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PostSubject: Re: FORMATION CAP J (FCO.T)   Thu Jun 05, 2008 11:15 pm

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PostSubject: Re: FORMATION CAP J (FCO.T)   Thu Jun 05, 2008 11:16 am

I think we are ready for more news coming soon,


Formation ICP project gets positive biological review



2008-05-29 07:18 ET - News Release
Ms. Mari-Ann Green reports
FORMATION CAPITAL CORPORATION: BIOLOGICAL OPINIONS GRANT ENDANGERED SPECIES ACT; EXEMPTION PERMIT FOR IDAHO COBALT PROJECT
Formation Capital Corp.'s wholly owned subsidiary, Formation Capital Corp. U.S., 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 United States 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.
The Endangered Species Act (ESA) prohibits the taking of endangered or threatened species without a specific permit or exemption. Among other things, an action that harasses, wounds, kills or harms by altering the habitat of any listed species is a taking. The biological opinions contain incidental take statements that exempt the ICP from a taking when the terms and conditions of the incidental take statement are followed. In addition, NMFS outline two conservation recommendations to avoid, minimize, or otherwise offset potential adverse effects on essential fish habitat.
"What this means," said Bill Scales, president of the company, "is that the 135-day consultation period described in Formation's news release of Jan. 9, 2008 (see news issued in Stockwatch), is over and the Forest Service and the Environmental Protection Agency (EPA) are now able to include the NMFS & USFW's terms and conditions and conservation recommendations in the Forest Service and EPA's records of decision and finalize them. We understand that the Forest Service will issue their record of decision in conjunction with the final environmental impact statement (EIS) and that the EPA will issue their record of decision and final national pollution elimination discharge permit 30 days after the final EIS has been released." He continued: "They have everything they need now. It's just a matter of time."
Quoting from the biological opinion prepared by NMFS, Guy Jeske, general manager for the ICP, said that: "NMFS concludes that the actions, as proposed, are not likely to jeopardize the continued existence of Snake River spring/summer Chinook salmon, Sockeye salmon or Snake River basin steelhead, or result in the destruction or adverse modification of designated critical habitats for Snake River spring/summer Chinook salmon or Snake River basin steelhead. USFW's opinion concludes that the ICP is also not likely to jeopardize the continued existence of the Bull trout."
"It is very good news that the ESA threatened or endangered species as a whole will not be affected by the ICP," explained Guy Jeske. "However, during construction and operations individual salmon or steelhead may be unintentionally harmed," he continued. "That is the reason we need the 'take' exemption." The reasonable and prudent measures outlined in the opinions include measures to minimize incidental take from construction related activities, effects to water quality, more specifically, nitrate levels, and monitoring and reporting requirements, and the terms and conditions that implement these measures. "This will insure that the effects on fish in the area will be minimal," Mr. Jeske added.
"This is a testament to the Idaho cobalt project's solid mine plan where the preservation of the environment has always been considered high priority," continued Mr. Jeske. "It shows that the design of sustainable, responsible mining can be achieved without compromising the surrounding ecosystem -- and we are very proud of that accomplishment."
Formation's Idaho cobalt project will provide the United States with high-purity superalloy-grade cobalt metal required for critical applications such as the construction of jet airplane engines, land-based turbines, catalysts for gas to liquid technology, and batteries used in hybrid and electric cars.
We seek Safe Harbor.

http://www.idahocobalt.com/s/Home.asp
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PostSubject: FORMATION CAP J (FCO.T)   Thu Jun 05, 2008 9:01 am

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