Formation Metals Executes Mutual Release with Waterton

Formation Metals Inc. (TSX:FCO) executed a full and final mutual release with certain entities that are associated or affiliated with Waterton Global Resource Management, Inc. in respect of the Letter Agreement dated June 5, 2013 regarding the potential sale of its Sunshine Precious Metals refinery, copper refinery and certain lands at the Big Creek Hydrometallurgical Complex in Shoshone County, Idaho. Waterton received a break fee of US$ 1.0 million as outlined in the Company’s press release of June 6, 2013.

As quoted in the press release:

In connection with the Release, Waterton received a break fee of US$ 1.0 million as outlined in the Company’s press release of June 6, 2013.

Formation continues to assess all of its options to maximize shareholder value and the Company now intends to pursue additional offers and/or expressions of interest in relation to the sale of the refinery. In the meantime, operations at the Complex are continuing.

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