Mr. Colin Padget reports

B2GOLD INCREASES INVESTMENT IN FOUNDERS METALS

B2Gold Corp. has increased its investment in Founders Metals Inc. by subscribing for an additional 484,239 common shares of the company on a private placement basis at a price of $5.30 per share for total gross proceeds of approximately $2.57-million. Together with the approximately $30-million bought deal announced on Feb. 4, 2025, the company will raise up to a total of approximately $37-million, including the 15.0-per-cent underwriters option. Upon completion of the investment and the brokered offering, B2Gold will own 5.0 per cent of the company's issued and outstanding common shares on a non-diluted basis.

Colin Padget, Founders' president and chief executive officer, commented: "We're pleased to have B2Gold's ongoing support. Their investment in Founders is a strong endorsement of what we have accomplished to date and the Tier 1 potential of Antino."

The shares will be 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 that closed on Nov. 5, 2024.

Agentis Capital Mining Partners is acting as financial adviser to the company in respect of the investment. The investment is expected to close before the end of this month and is subject to customary closing conditions, including approval of the TSX Venture Exchange.

About Founders Metals Inc.

Founders 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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