Re: Formation Metals Inc.

News Release Thursday, October 20, 2011 Formation Metals Enhances Management Team To: tsx Vancouver, B.C., October 20, 2011, Formation Metals Inc.

(FCO-TSX) ("Formation") announced today that it has appointed Mr.

Michael G.

Lee as General Manager of its 100% owned Idaho Cobalt Project ("ICP").

Mr.

Lee will oversee all operations for the ICP.

Mr.

Lee is a graduate of Mining Engineering from the Montana College of Mineral Science and Technology with over 33 years of mining related experience, specifically in the Pacific North West.

He brings a wealth of knowledge and expertise in developing and operating both underground and open pit mines and milling and concentrating facilities through to closure and reclamation.

He has a proven track record of developing and running safe, profitable mines and mineral processing plants. Mr.

Lee has previously held the roles of Vice President and General Manager of the Coeur - Galena Silver Mine as well as several management positions with ASARCOs projects including Mine Superintendent and Manager of Development Projects and Services.

Prior to joining the Company, Mr.

Lee held the position of Mine Superintendent for Montana Resources copper and molybdenum Continental Mine in Butte, MT, and Vice President and General Manager for Apollo Golds Montana Tunnels.

His focus on quality control and his proven and proactive mine safety initiatives are aligned with the Companys dedication to environmentally sound and safe mining practices. Formation also announces the appointment of Ken Mayer at the Hydrometallurgical Facility, who will be acting as Senior Accountant assisting the Comptroller and General Manager for the ICP.

Mr.

Mayer is a Certified Public Accountant and a Bachelor of Science graduate from Boise State University and an MBA graduate from Regis University in Denver Colorado.

He has over 30 years of diverse experience in public accounting, forecasting, and income tax auditing with a number of firms in both Idaho and Alaska.

His last public position was with Native American Services Corporation in Idaho acting as Senior Accountant and Financial Analyst. Formation Management welcomes the addition of these skilled individuals to their team which continues to grow in step with progress on the financing and construction of the ICP.

Formations second quarter condensed interim consolidated financial statements were SEDAR filed on Oct 17th and exhibit a strong cash position of $54.7 million (as at August 31, 2011).

The second quarter financial statements are also available at the company website at www.formationmetals.com.

Formation Metals Inc.

is a well established, mineral exploration, development and refining company that 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" Mari-Ann Green, C.E.O. For further information please contact: E.R.

(Rick) Honsinger, P.Geo.

V.P.

Corporate Communications Formation Metals Inc. 1730 - 999 West Hastings Street Vancouver, BC, V6C 2W2 Tel: 604-682-6229 Email: Web: formcap.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.
You can also view this News Release on our website at: http://www.formationmetals.com/s/News.asp?ReportID=486105 ======================================================================= Copyright (c) 2009 FORMATION METALS INC.

(FCO) All rights reserved.

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