Mr. Colin Padget reports

FOUNDERS METALS CLOSES C$32.5 MILLION BOUGHT DEAL FINANCING

Founders Metals Inc. has closed its previously announced bought deal private placement offering of 6,136,455 common shares at a price of $5.30 per offered share for aggregate gross proceeds of $32,523,211, including the partial exercise of the underwriters' (as defined herein) option to purchase 420,455 offered shares. The offering was led by BMO Capital Markets, as lead underwriter and sole bookrunner, on behalf of a syndicate of underwriters including Clarus Securities Inc., Paradigm Capital Inc., Agentis Capital Markets LP, H&P Advisory Ltd. and National Bank Financial Inc.

The company intends to use the net proceeds of the offering to accelerate continuing exploration activities on the Antino gold project and general corporate purposes.

In consideration for the services provided to Founders by the underwriters in connection with the offering, the company paid the underwriters a cash fee equal to 6 per cent of the aggregate gross proceeds of the offered shares sold under the offering.

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 60,000 metres of drilling in 2025.

We seek Safe Harbor.