Founders Metals Intersects 8.0 Metres of 6.64 g/t Gold and Discovers New Shear Zone at Donut

Vancouver, British Columbia–(Newsfile Corp. – Might 30, 2024) – Founders Metals Inc. (TSXV: FDR) (OTCQX: FDMIF) (FSE: 9DL0) (“Founders” or the “Firm”) broadcasts drill core assay outcomes from its fully-funded 2024 drill program on the Antino Gold Mission in southeastern Suriname. This launch stories the remaining eight drill holes from section certainly one of drilling on the Donut Zone (“Donut”).

West Donut Shear Discovery

New shear zone intercepted in 4 holes over >150 metres (“m”) of strike together with:
- 4.5 m of three.27 grams per tonne (“g/t”) gold (“Au”) from 15.6 m downhole (24DO04)
- 12.0 m of 0.84 g/t Au from 12.6 m (24DO13)
- 27.0 m of 0.73 g/t Au from 26.1 m (24DO14)
- 16.5 m of two.35 g/t Au from 26.1 m (Gap 24DO02, beforehand reported)

Principal Donut Shear

Alongside-strike continuity of beforehand reported high-grade gold at Donut with intervals together with:
- 8.0 m of 6.64 g/t Au from 247.0 m (Gap 24DO13)
- 19.0 m of 1.02 g/t Au from 99.0 m (Gap 24DO09)
- 6.0 m of three.10 g/t Au from 181.0 m (Gap 24DO15)

The Donut Zone is situated within the northwest part of the Antino Property, roughly 800 metres northeast of the Froyo Zone (Check with Determine 1). Mineralization at Donut is characterised by broader, intrusion-hosted gold mineralization and structurally managed high-grade gold mineralization.

Colin Padget, Founders CEO commented, “We’re happy to see the gold mineralization at Donut proceed alongside strike with 8.0 metres of 6.64 g/t Au in gap 24DO13 and a few broader, lower-grade intervals as anticipated. Moreover, we have hit a second gold-bearing shear hosted within the combined volcanic rocks to the west of Donut with close to floor gold mineralization over substantial widths. Mixed, these outcomes symbolize a superb first section of drilling at Donut and our workforce is busy with planning comply with up work.”

West Donut Shear Discovery

The newly recognized West Donut Shear (Determine 2) is a steeply dipping zone of shear-hosted gold mineralization intercepted in 4 drill holes. The zone is intercepted close to floor in all 4 holes. Drill holes 24DO04 (4.5 m of three.27 g/t Au), 24DO13 (12.0 m of 0.84 g/t Au), 24DO14 (27.0 m of 0.73 g/t Au) and beforehand reported 24DO02 (16.5 m of two.35 g/t Au) define a north-south oriented shear zone with a minimal strike size of 150 m. The zone stays open alongside strike and has not been drill examined beneath a vertical depth of 40 m.

Intrusion-Hosted Donut Mineralization

Gold mineralization at Donut happens inside a important shear close to the tonalite intrusive physique’s margin. Broader, as much as 40 m, zones of lower-grade gold mineralization (0.1 – 1.5 g/t Au) additionally happen inside the intrusive. The newest outcomes together with, 8.0 m of 6.64 g/t Au (24DO013), 6.0 m of three.10 g/t Au (24D015) and 19.0 m of 1.02 g/t Au (24DO09) affirm the continuation of high-grade gold alongside the western and northwestern extents of the intrusive contact the place shearing is most concentrated. Mineralization on this a part of the Donut system stays open and presently extends over a strike size of a minimum of 190 m alongside the western contact and >130 m alongside the northwestern margin. The japanese and southern intrusive margins additionally doubtlessly host gold and will likely be additional examined as a part of the Firm’s future drilling plans.

Desk 1: Drilling Outcomes and Highlights on the Donut Zone

Gap ID	From (m)	To (m)	Core Size* (m)	Au (g/t)
24DO04	15.60	20.10	4.50	3.27
24DO05				NSA
24DO08				NSA
24DO09	53.00	60.00	7.00	0.81
and	99.00	118.00	19.00	1.02
and	184.00	195.00	11.00	0.92
24DO10	0.00	24.60	24.60	0.54
24DO11B	161.18	181.18	20.00	0.53
24DO12	73.10	80.60	7.50	0.68
and	255.00	264.30	9.30	0.56
24DO13	12.60	24.60	12.00	0.84
and	161.00	168.00	7.00	1.26
and	192.00	234.00	42.00	0.31
and	247.00	255.00	8.00	6.64
24DO14	0.00	6.60	6.60	0.53
and	26.10	53.10	27.00	0.73
24DO15	6.60	15.60	9.00	0.93
and	56.00	92.00	36.00	0.71
and	138.00	146.00	8.00	1.27
and	181.00	187.00	6.00	3.10
24DO16	24.60	31.00	6.40	0.44
and	83.00	90.00	7.00	0.63

*Intervals are estimated to symbolize 85% or extra of true width primarily based on present drill information

Determine 1: Higher Antino Plan Map with Historic Auger Samples

To view an enhanced model of this graphic, please go to:
https://images.newsfilecorp.com/files/7574/211099_founders_figure1.png

Determine 2: Higher Antino Plan Map Centred on the Donut Zone

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https://images.newsfilecorp.com/files/7574/211099_founders_figure2.png

Determine 3: Higher Antino Part Map Centred on the Donut Zone

To view an enhanced model of this graphic, please go to:
https://images.newsfilecorp.com/files/7574/211099_85f2c6d114971818_003full.jpg

About Founders Metals Inc.

Founders Metals is a Canadian exploration firm with properties in North and South America. The Firm focuses on buying and advancing gold initiatives within the Guiana Defend. Its flagship asset is the 20,000 ha Antino Gold Mission in Suriname, the place artisanal floor/alluvial mining has produced over 500,000 gold ounces so far¹. Utilizing its diamond drilling gear, the Firm drilled over 10,000 metres in 2023 and is absolutely financed for drilling in 2024.

¹2022 Technical Report – Antino Mission; Suriname, South America. Ok. Raffle, BSc, P. Geo & Rock Lefrançois, BSc, P.Geo.

High quality Assurance and Management

Outcomes from samples have been analyzed at FILAB Suriname, a Bureau Veritas Licensed Laboratory in Paramaribo, Suriname (a industrial licensed laboratory below ISO 9001:2015). Samples are crushed to 75% passing 2.35 mm display screen, riffle break up (700 g) and pulverized to 85% passing 88 µm. Samples have been analyzed utilizing a 50 g hearth assay (50 g aliquot) with an Atomic Absorption (AA) end. For samples that return assay values over 10.0 grams per tonne (g/t), one other reduce was taken from the unique pulp and hearth assayed with a gravimetric end. Founders Metals inserts blanks and licensed reference requirements within the pattern sequence for high quality management. Exterior QA-QC checks are carried out at ALS International Laboratories (Geochemistry Division) in Lima, Peru (an ISO/IEC 17025:2017 accredited facility). A safe chain of custody is maintained in transporting and storing of all samples. Drill intervals with seen gold are assayed utilizing metallic screening. Rock chip samples from outcrop/bedrock are selective by nature and is probably not consultant of the mineralization hosted on the challenge.

Certified Individuals

The technical content material of this information launch has been reviewed and accepted by Michael Dufresne, M.Sc., P.Geol., P.Geo., a certified individual as outlined by Nationwide Instrument 43-101.

ON BEHALF OF THE BOARD OF DIRECTORS,

Per: “Colin Padget“

Colin Padget
President, Chief Govt Officer, and Director

Founders Metals Contact Data

Katie MacKenzie, Vice President, Company Improvement
Tel: 306 537 8903 | katiem@fdrmetals.com

Nick Stajduhar, Director
Tel: 647 225 0046 | nicks@fdrmetals.com

Cautionary Assertion Concerning Ahead-Trying Data

This press launch comprises “forward-looking data” inside the that means of relevant Canadian securities laws. Ahead-looking data consists of, with out limitation, statements concerning using proceeds from the Firm’s just lately accomplished financings and the longer term or prospects of the Firm. Usually, forward-looking data might be recognized by means of forward-looking terminology akin to “plans”, “expects” or “doesn’t anticipate “, “is anticipated “, “price range”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “doesn’t anticipate”, or “believes”, or variations of such phrases and phrases or state that sure actions, occasions or outcomes “could”, “might”, “would”, “may” or “will likely be taken”, “happen” or “be achieved”. Ahead-looking statements are essentially primarily based upon quite a lot of assumptions that, whereas thought of affordable by administration, are inherently topic to enterprise, market, and financial dangers, uncertainties, and contingencies which will trigger precise outcomes, efficiency, or achievements to be materially totally different from these expressed or implied by forward-looking statements. Though the Firm has tried to establish essential components that might trigger precise outcomes to vary materially from these contained in forward-looking data, different components could trigger outcomes to not be as anticipated, estimated, or meant. There might be no assurance that such data will show to be correct, as precise outcomes and future occasions might differ materially from these anticipated in such statements. Accordingly, readers mustn’t place undue reliance on forward-looking data. Different components which might materially have an effect on such forward-looking data are described within the danger components within the Firm’s most up-to-date annual administration dialogue and evaluation. The Firm doesn’t undertake to replace any forward-looking data besides in accordance with relevant securities legal guidelines.

All materials data on Founders Metals might be discovered at www.sedarplus.ca.