Mr. Colin Padget reports

FOUNDERS METALS EXPANDS ANTINO GOLD PROJECT WITH ADDITION OF 36,000 HECTARES

Founders Metals Inc. has signed a binding letter of intent to acquire 100-per-cent interest in a 36,000-hectare exploration concession immediately adjacent to the company's Antino gold project in southeastern Suriname. The acquisition nearly triples Founders' land position to approximately 56,000 hectares (560 square kilometres) of highly prospective ground within the Guiana Shield greenstone belt.

Highlights of acquisition:

• Strategic expansion -- the 36,000-hectare acquisition expands the company's total land package to 56,000 hectares (approximately 10 times the size of Manhattan);
• Potential Upper Antino extension -- high-grade gold mineralization along a 1,000-metre strike extension supported by historical auger data;
• Multiple high-grade shear zones identified -- recent grab sample results from separate shear zones along a greater-than-three-kilometre trend include 26.01 grams per tonne gold, 36.84 g/t Au, 11.44 g/t Au and 70.93 g/t Au;
• Substantial historical exploration database including:
  • Airborne geophysics:
    • 1,860 line kilometres of aeromagnetic and radiometric survey data (150-metre line spacing);
  • 1,877 historical auger samples:
    • High-grade anomaly extending immediately northwest of Upper Antino;
    • Robust five-kilometre-by-2.5-kilometre historical gold anomaly to the north that was never drill tested;
  • Over 10 years of active exploration work, including detailed bedrock mapping, trenching, channel sampling and metallurgical testing.

Colin Padget, president and chief executive officer, commented: "Acquiring this ground is transformational for Founders. We've nearly tripled our land position to 56,000 hectares and gained control of a district-scale opportunity in one of the world's most underexplored gold belts. What excites me most is the quality of targets we've just added. We have immediate opportunities to extend Upper Antino's high-grade gold mineralization along a 1,000-metre strike extension supported by historical auger data. In the northern part of the new area, there's a multikilometre network of high-grade shears plus a separate auger anomaly -- larger than Upper Antino -- that has never seen a drill hole. This acquisition gives us both near-term catalysts and long-term district potential as a premier explorer in Suriname and the Guiana Shield."

Binding letter of intent

The new concession comprises a single right of exploration that covers much of an area historically explored by Canarc Resources between 1996 and 2007. Founders has entered an LOI with an arm's-length Surinamese private company to acquire 100 per cent of the exploration rights over the property. Under the terms of the LOI, Founders retains the exclusive right to conduct legal due diligence over a 90-day period prior to executing a definitive purchase agreement. Entry into the definitive agreement remains entirely at the discretion of Founders Metals.

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 covers 56,000 hectares and has produced over 500,000 ounces of gold from historical surface and alluvial mining to date. The company is systematically advancing one of Suriname's most promising gold exploration and development opportunities with drill-confirmed, district-scale potential. Founders is committed to responsible exploration, community engagement and delivering long-term value to shareholders through technical excellence and strategic growth in the Guiana Shield.

Qualified person

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

Qualified assurance and control

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-milliemetre 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 5.0 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 Lima, Peru (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.

We seek Safe Harbor.