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VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 22, 2010) - Formation Metals Inc. (TSX:FCO) ("Formation" or the "Company") is pleased to announce the election of Mr. Frank Burke and Dr. Charles Entrekin as directors at the Company's 2010 Annual and Special General Meeting held June 18, 2010 (the "AGM").

Mr. Frank M. Burke, J.D. M.B.A. B.B.A, is currently Chairman, CEO and Managing Partner of Burke, Mayborn Co. Ltd. and Board member of Arch Coal Inc. Mr. Burke has over 40 years experience in international finance, taxation and government consulting. He has authored numerous books on taxation and business matters, including the co-authoring of "Audit Committees: A Guide for Directors, Management & Consultants", currently in its 6^th edition. He has written over 100 business articles and given over 600 international presentations on these subjects. Mr. Burke is the recipient of many significant honours and awards, has served on the boards of over 25 corporations and continues to act as a consultant to the US Government in energy matters.

Dr. Charles H. Entrekin, Ph.D M.B.A. M.S. B.S., has over 35 years experience in the more exotic metals industries, including cobalt. He currently acts as an international consultant for numerous metal producers and financial houses and sits on the Board of Directors for Coalcorp Mining Inc. Previous executive positions include President and Chief Operating Officer of Titanium Metals Corporation, President and CEO of Timminco Ltd. and Managing Director of London & Scandinavian Metallurgical Co. Limited.

"The election of these two very experienced and talented individuals as directors has added additional depth, knowledge and experience to Formation's Board," stated Mari-Ann Green, Chairman and CEO of Formation Metals Inc. She continued, "We are very fortunate to have them as part of our team."

Formation also announces that all matters identified in the Notice of AGM were overwhelmingly approved at the AGM, including approval of a new Shareholder Rights Plan for the Company. Details of the voting results are available online at [ www.SEDAR.com ].

Formation Metals Inc. is dedicated to the principles of environmentally sound mining and refining practices, and believes that environmental stewardship and mining can co-exist. Formation trades on the Toronto Stock Exchange under the symbol FCO.

Formation Metals Inc.

Mari-Ann Green, C.E.O.

This press release contains "forward-looking statements" within the meaning of applicable Canadian securities legislation. Generally, forward-looking statements can be identified by the use of forward- looking terminology. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company does not undertake to update any forward-looking statements that are contained herein, except in accordance with applicable securities laws. Further information on the Company is available at [ www.sedar.com ].

The statements contained in this news release in regard to Formation Metals Inc. that are not purely historical are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including Formation Metals Inc.'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.