FDR.V · 2024-11-07 12:00:00

Founders Metals Hits New Discovery in Third Lower Antino Drill Hole

Drill Results

Founders Metals Hits New Discovery in Third

Lower Antino Drill Hole

Vancouver, British Columbia--(Newsfile Corp. - November 7, 2024) -

Founders Metals Inc.

(TSXV:

FDR) (OTCQX: FDMIF) (FSE: 9DL0) ("Founders" or the "Company") announces drill core assay results

from its maiden drill program at Lower Antino on the Antino Gold Project ("Antino" or "Project") in

southeastern Suriname.

Founders reports 81.9 metres (m) of 1.01 grams per tonne (g/t) gold (Au) within

a broader, >200 m wide zone of anomalous gold. The zone was intersected in unweathered rock

approximately 100 m down-dip of a historical auger gold anomaly with assay values up to 49.30 g/t Au

(Figure 3). With the success of these preliminary drilling results, the Company has increased the Phase

1 Lower Antino drill program from 1,500 m to 4,500 m and will release additional results as assays are

received.

Highlights

New discovery in third drill hole at Lower Antino; 24LA003 intersects 81.9 m of 1.01 g/t Au

including 26.0 m of 2.36 g/t Au (Figure 3)

Excellent grade distribution throughout interval (Image 1)

81.9 m within broader >200 m zone of anomalous gold

Assays pending for several drill holes along strike with significant intervals of visually similar,

sheared sulphide-rich rock demonstrating apparent continuity of the mineralized structure over

>500 m

24LA003 coincident with gold trend in auger anomaly within a larger 1.5 km by 2.0 km gold

anomaly (Figure 1)

Mineralized interval and auger gold anomalies coincident with >2 km long linear chargeability high

from in-progress IP geophysical surveys (Figure 4)

Preserved saprolite/oxide mineralization with no artisanal mining in the area drilled

"With this new discovery at Lower Antino, we have yet another example of the potential scale that Antino

represents," stated Founders' President & CEO, Colin Padget. "After intersecting the gold

mineralization in drill hole 3, we were very excited to see the results and quickly modified the drill plan to

follow-up. We continue to credit our rapid assay turnaround times for our ability to move quickly on a

discovery like this and look forward to communicating further results as they become available."

Geology Discussion

Lower Antino is characterized by a 1.5 km wide and 2.0 km long gold anomaly with historical auger

samples grading up to 49.30 g/t Au. Founders' Phase 1 drilling primarily focuses on testing high-grade

auger anomalies, which led to intersecting

81.9 m of 1.01 g/t Au, including 26.0 m of 2.36 g/t Au

(24LA003) within a sheared tonalitic intrusive containing up to 15% disseminated pyrite and late

fracture-fill quartz/pyrite mineralization (Image 1). The gold mineralization is within a broader, ~200 m

wide shear zone containing anomalous gold. Scale and consistency of this sheared, sulphide-rich rock is

unique to Lower Antino, with mineralization observed visually in several drill holes approximately 500 m

south along strike.

In addition to bulk tonnage style mineralization, field crews have detailed high-grade vein sets with

grades in recent channel sampling of up to 21 g/t Au, and historical grab samples are reported up to 340

g/t Au, suggesting there is a potential high-grade component within the broader Lower Antino gold

system.

Figure 1: Property Scale Plan Map