Mr. Colin Padget reports

FOUNDERS METALS DISCOVERS NEW PARALLEL ZONE; HITS 14.5 M OF 16.26 G/T GOLD AND 26.0 M OF 4.86 G/T GOLD

Founders Metals Inc. has released drill core assay results from the Antino gold project in southeastern Suriname. The company reports intercepting numerous high-grade gold intervals in a new zone parallel to the main Antino shear zone, more than doubling the width of the gold-mineralized footprint to over 200 metres. The intervals include, from separate holes, 14.5 metres of 16.26 grams per tonne gold, 26.0 m of 4.86 g/t Au and 14.0 m of 3.65 g/t Au.

Highlights:

• New gold zone discovery in stepout drilling parallel to the main Froyo gold zone;
• Drill hole 23FR041 intercepts 14.5 m of 16.26 g/t Au from 52.7 m downhole;
• Drill hole 23FR044 intercepts mineralization from surface with four major zones and one interval containing visible gold:
  • 11.6 m of 2.59 g/t Au downhole from surface;
  • 13.0 m of 6.29 g/t Au from 42 m downhole;
  • 26.0 m of 4.86 g/t Au from 56 m downhole;
  • 6.0 m of 8.52 g/t Au from 117 m downhole;
• Drill-defined gold mineralization at Froyo covers more than 500 m by 200 m and extends to vertical depths of greater than 150 m.

Colin Padget, chief executive officer of Founders, commented: "We continue to expand the exceptional gold mineralization at Upper Antino, and these new results represent a major addition to the overall footprint of this robust gold system. We can now point to a sizable Froyo volume extending more than 500 metres along strike, 200 metres wide and over 150 metres vertical depth, and that remains open along strike and at depth. Even more exciting is that this year's drilling has tested only a fraction of the historical auger gold anomalies at Upper Antino, with similar surficial gold signatures yet to be tested at Lower Antino, Parbo and Buese areas."

About Founders Metals Inc.

Founders Metals is a Canadian exploration company with properties in North America and South America. The company focuses on acquiring and advancing gold projects in the Guiana Shield. Its flagship asset is the 20,000-hectare Antino gold project in Suriname, where artisanal surface/alluvial mining has produced over 500,000 gold ounces to date. Using its diamond drilling equipment, the company drilled over 10,000 m in 2023 and is fully financed for up to 30,000 m in 2024.

Quality assurance and 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 2.35-millimetre screen, riffle split (700 grams) and pulverized to 85 per cent passing 88 micrometres. Samples were analyzed using a 50-gram fire assay (50-gram aliquot) with an atomic absorption (AA) finish. For samples that return assay values over 10.0 grams per tonne, 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 of all samples. Drill intervals with visible gold are assayed using metallic screening. Rock-chip samples from outcrop/bedrock are selective by nature and may not be representative of the mineralization hosted on the project.

Qualified person

The technical content of this news release has been reviewed and approved by Michael Dufresne, MSc, PGeol, PGeo, a qualified person as defined by National Instrument 43-101.

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