The Northwest Mining Association (NWMA) has awarded the 2008 Platinum Award for Corporate Excellence to Formation Capital Corp. This prestigious honor was awarded for “perseverance and leadership in pursuing a mining operation which has minimal impact on the environment and for supporting the efforts of the NWMA”. During the NWMA Annual Awards Ceremony on December 2, 2008 in Reno, Nevada, a very surprised Mari-Ann Green, Chairman and CEO Formation Capital Corporation, was on hand to accept the award on behalf of the many groups and individuals who have worked tirelessly in their efforts to bring the Idaho Cobalt Project (ICP) from mineral discovery to exploration, feasibility, permitting, equipment procurement and what could eventually be commercial mine production. Unwavering in her commitment to the industry, Laura Skaer, Executive Director of the NWMA, stated “Formation has shown the mining industry how to involve all stakeholders in a collaborative process to ensure the most environmentally and socially responsible mining project goes forward and we are proud to recognize their achievement with this award”Mari-Ann Green states, “It was an honor for Formation Capital to be recognised for perseverance. Despite many setbacks, we have always kept our eye on the goal of becoming a fully integrated miner and refiner of high purity cobalt metal with a commitment to do so in an environmentally sensitive manner”.The Northwest Mining Association (NWMA) is a 113-year-old, 1,800-member non-profit, non-partisan trade association supporting the mining industry throughout the United States and especially in the states of Alaska, Idaho, Montana, Oregon, Washington, Utah, Nevada and Arizona. The NWMA represents members’ interests throughout Canada and the US, facilitates global interests and works closely with the National Mining Association, state mining associations in the western United States, and provincial and regional mining associations throughout Canada. They are recognized internationally as innovative and proactive leaders in addressing the needs of an increasingly global mining industry and for fostering and promoting economic and environmentally responsible mining.Formation Capital continues to work diligently on the permitting efforts for its ICP and is expecting a new Record of Decision from the US Department of Agriculture Salmon-Challis National Forest Service (Forest Service) in January 2009. Pre-empting opposition to the upholding of the Record of Decision, major agreements have now been signed with all concerned environmental groups including Earthworks, Boulder White-Clouds Council and the Idaho Conservation League (ICL), Idaho’s largest environmental steward. Formation Capital Corporation, U.S. is receiving numerous proposals for consideration in the Formation/ICL Conservation Action Program, participation in it being an integral component of the negotiated Formation/ICL environmental agreement. The Conservation Action Program was designed to implement projects that would contribute to the natural and wildlife resources in the Upper Salmon River Watershed. Representatives of Formation and ICL are currently reviewing proposals and will make awards based on previously established criteria. Ongoing negotiations also continue with other parties and Formation remains confident that the new Record of Decision will be upheld and, pending financing, mine construction will commence Q2 2009.