Revised Positive ROD for Idaho Cobalt Project

VANCOUVER, BC - Formation Capital Corporation reported that its wholly owned subsidiary, Formation Capital Corporation, U.S. is in receipt of a news release issued by the United States Department of Agriculture Salmon Challis National Forest stating a revised 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 approved a Record of Decision (ROD) with stipulations and mitigations to be incorporated into a Plan of Operations for approval for Formation Capital Corporation's (FCC) Idaho Cobalt Project, a proposed cobalt mining project located in the Panther Creek drainage west of Salmon.
"A new ROD has been prepared in response to the Regional Forester's appeal decision. Specifically, this ROD clarifies provisions of the plan of operations to be approved regarding management of sedimentation from initial construction activities and management and treatment of groundwater," stated Bill Wood. The ROD also documents additional efforts to consult with Native American Tribes and compilation of a Watershed Analysis as required by the Forest Plan. While the Environmental Impact Statement thoroughly discussed the potential effects to aquatic and riparian resources, that analysis had not been compiled into a Watershed Analysis report as technically required by the Forest Plan. Finally, this ROD provides a more succinct discussion of the potential effects of mining operations to the characteristics of Inventoried Roadless Areas and the management of these areas under the October 2008 Idaho Roadless Area Management Rule.
This ROD describes the decision to approve a Plan of Operations, the rationale for the decision, and includes a brief description of all alternatives considered in reaching the decision. It also includes a discussion of preferences among alternatives based on relevant factors and how those factors were used in reaching the decision.
The ROD 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 ROD.
The companyÕs address is Suite 1730, 999 West Hastings Street, Vancouver, BC V6C 2W2, (604) 682-6229, fax: (604) 682-6205.