Mr. Colin Padget reports

FOUNDERS METALS PROVIDES BUESE AREA INTRO WITH CHANNEL SAMPLES OF UP TO 113 G/T GOLD

Founders Metals Inc. has provided an overview of the Buese area on the Antino gold project that includes new channel sample results, with a 12-metre interval returning one m of 113 grams per tonne (g/t) gold (Au) and 11 metres of 2.4 g/t gold. The 12 metres sampled are within a 26 m shear zone not completely sampled due to collapse, but follow-up trenching will test the entire zone. The company also describes potential bulk-tonnage exploration targets exposed in the area. The Buese area hosts gold mineralization over two kilometres at the southeastern extent of the eight-plus-kilometre Antino gold trend.

In addition, the Founders drill program at Upper Antino continues, and the results are being released as they become available.

Highlights:

• Channel sampling grading 113 g/t Au over one m within a broader 11 m of 2.4 g/t Au (11 m interval does not include 113 g/t Au sample);
• Historical drill-defined, high-grade gold mineralization extending over two kilometres of strike;
• Historical diamond drill core assays of 12 m of 7.80 g/t Au and 22.5 m of 2.95 g/t Au within a broader northwest-trending shear zone;
• Potential bulk-tonnage exploration target with high-density quartz veining in exposed intermediate intrusive rocks.

Colin Padget, chief executive officer of Founders, commented: "We are thrilled to see similar grades of gold mineralization at the Buese zone as the Upper Antino zone. Although our current primary focus for the ongoing drill program and exploration work remains the Upper Antino area, these initial high-grade channel results underscore the substantial potential of the Buese zone. With gold mineralization defined over more than two kilometres through historical drilling and auger sampling, the Founders team is looking forward to drill testing the high-grade shear zone and potential bulk-tonnage intrusive targets, which is planned for towards the end of the current 10,000 m program."

About Founders Metals Inc.

Founders is a Canadian exploration company operating in North America and South America. The company is focused on acquiring and advancing gold projects in the South American Guiana Shield. Its flagship project is the 20,000-hectare Antino gold project in Suriname. Exploration work on the project includes over 30,000 metres of historical drilling, 35,000 gold-in-soil auger samples, property-wide aeromagnetic survey data and a 2022 lidar (light detection and ranging) survey. Antino is the most advanced gold exploration project in Suriname, within an area where historical surface/alluvial gold mining has produced over 500,000 gold ounces to date.

Quality assurance/quality control

Results from samples were analyzed at Filab Suriname, a Bureau Veritas-certified laboratory in Paramaribo, Suriname (a commercial certified laboratory under ISO 9001:2015). Samples are crushed to 75 per cent passing a 2.35-millimetre screen, riffle split (700 gram) and pulverized to 85 per cent passing 88 micrometres. Samples were analyzed using a 50-gram fire assay (50 g aliquot) with an atomic absorption (AA) finish. For samples that return assay values over 10 grams per tonne g/t, another cut was taken from the original pulp and fire assayed with a gravimetric finish. Founders Metals inserts blanks and certified reference standards in the sample sequence for quality control. External QA/QC checks are performed at ALS Global Laboratories (geochemistry division) in Vancouver, Canada (an ISO/IEC 17025:2017 accredited facility). A secure chain of custody is maintained in transporting and storing all samples. Drill intervals with visible gold are assayed using metallic screening. Channel and rock chip samples from outcrop/bedrock are selective by nature and may not be representative of the mineralization hosted on the project.

The scientific and technical disclosure of this news release has been reviewed and approved by Michael Dufresne, MSc, PGeol, PGeo, a qualified person as defined under National Instrument 43-101 -- Standards of Disclosure for Mineral Projects.

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