Mr. Colin Padget of Founders Metals reports

FOUNDERS METALS CLOSES C$2.6M FINANCING WITH B2GOLD

Founders Metals Inc. has closed its previously announced investment from B2Gold Corp. of 484,239 common shares of the company at a price of $5.30 per share for aggregate gross proceeds of $2.6-million.

Colin Padget, president and chief executive officer of Founders, commented: "We are pleased to have B2Gold's ongoing support for Founders and the Antino gold project. Combined with the recent bought deal financing, Founders is now fully financed for the foreseeable future and further ramp-up of our aggressive exploration and drilling plans. Our 2025 plan remains focused on expanding what we know and continuing to make new discoveries like the recently announced high-grade gold intercept at Van Gogh."

The shares are subject to a four-month hold period from the date of issue. Furthermore, pursuant to the investor rights agreement, B2Gold is required to purchase 1.17 million shares in the open market during the 12-month period following its initial investment, which closed on Nov. 5, 2024.

The company intends to use the net proceeds of the investment for continuing exploration and development work in 2025 at the Antino gold project and for general corporate purposes. In connection with the investment, the company paid Agentis Capital Mining Partners a fee equal to 4 per cent of the aggregate gross proceeds of the shares sold under the investment.

The investment is subject to final acceptance of the TSX Venture Exchange.

About Founders Metals Inc.

Founders Metals is a Canadian-based exploration company focused on advancing the Antino gold project, located in Suriname, South America, in the heart of the Guiana Shield. Antino is 20,000 hectares and has produced over 500,000 ounces of gold from surface and alluvial mining to date. The company is fully financed for up to 60,000 metres of drilling in 2025.

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