Dundee Corporation Acquires Further Interest in Formation Metals Inc.

Immediately prior to the acquisition of securities described in this report, Dundee owned 15,519,500 Common Shares representing an approximate 17.06% interest in the Issuer. Immediately following the transaction that triggered the requirement to file this report, Dundee owns 16,352,900 Common Shares and 416,700 Warrants, representing an approximate 15.47% interest in the Issuer on an undiluted basis and a 15.80% interest on a partially diluted basis.

Dundee acquired the Units of the Issuer for investment purposes only. Dundee intends to review, on a continuous basis, various factors related to its investment, including (but not limited to) the price and availability of the securities of the Issuer, subsequent developments affecting the Issuer or its business, and the general market and economic conditions. Based upon these and other factors, Dundee may decide to purchase additional securities of the Issuer or may decide in the future to sell all or part of its investments.

For additional information, an early warning report can be found on SEDAR or may be obtained by contacting:


Dundee Corporation

Legal Department

1 Adelaide Street East, Suite 2100

Toronto, Ontario M5C 2V9

Tel: (416) 350-3388


About Dundee Corporation

Dundee Corporation is a public Canadian independent holding company listed on the Toronto Stock Exchange. Through its operating subsidiaries, Dundee Corporation is engaged in diverse business activities in the areas of its core competencies including investment advisory and corporate finance, energy, resources, agriculture, real estate and infrastructure. Dundee Corporation also holds, directly and indirectly, a portfolio of investments mostly in these core focus areas, as well as other select investments in both publicly listed and private companies.

Contact Information:

Dundee Corporation

John Vincic

Media Relations

(647) 402-6375

Dundee Corporation

Lucie Presot

Executive Vice President and Chief Financial Officer

(416) 365-5157