Drill Program At The Antino Group Project

VANCOUVER - Founders Metals Inc. reported on drill core assay results from its 2023 drill program at the Antino Gold Project in southeastern Suriname. The Company continues to expand and extend high-grade gold mineralization below the saprolite/oxide boundary within the Froyo Gold Zone at Upper Antino. Founders is also continuing a comprehensive surface exploration program that focuses on developing additional high-priority targets for near-term drilling follow-up.

Highlights: Drillhole 23FR018 intersects 7.00 metres (m) of 8.12 grams per tonne (g/t) gold (Au); Drillhole 23FR012 returned 4.64 m of 11.51 g/t Au; Drillhole 23FR019 returned 5.00 m of 8.91 g/t Au; New gold intercepts demonstrate Froyo Gold Zone continues to deeper levels than historical drilling and along over 200 m of strike; and Assays pending for several drillholes with significant intervals of quartz/sulphide on step-out holes, potentially extending high-grade mineralized envelope within the Froyo Gold Zone.

CEO, Colin Padget, said, "We are extremely pleased with the ongoing drilling success; our team has intersected gold mineralization in every hole we have results for to date. It is particularly encouraging to see gold grades like the 7.00 m of 8.12 g/t Au continuing along strike and to depth from the recently released 15.5 m of 30.72 g/t Au. Additionally, as we have so far prioritized samples below the saprolite, we will soon start receiving more results from the saprolite where in hole 23FR001 we intercepted 4.5 m of 9.92 g/t Au."

Founders Metals' 2023 drill campaign has completed over 3,800 m of drilling with significant gold mineralization observed in all drillholes to date. Assay results are still pending for the entirety of many drillholes, with several holes containing broad intervals of quartz/sulphide mineralization similar in character to gold-bearing intervals from earlier drilling. The ongoing surficial exploration campaign has also successfully delineated multiple major gold bearing shear zones at surface that coincide with broader geochemical and geophysical trends, demonstrating the presence of a broad-scale mineralizing system at the Antino Gold Project that can be effectively targeted using modern exploration techniques.