Maiden Drill Program At Antino Gold Project

VANCOUVER - Founders Metals Inc. announced the start of its 2023 drill program at the Antino Gold Project in southeastern Suriname, South America. The current drilling focuses on expanding the known gold mineralization at the high-grade Froyo Zone in the Upper Antino Area. Drilling will target extending mineralization along strike and to depth beyond the relatively shallow historical work.

There will be up to 10,000m of diamond drilling, including: expansion drilling along strike and to depth of the historical resource areas at Froyo North & South, Ginger, Donut, and Eclaire. This includes exploration drilling along extensive mineralized structural corridors within the Upper Antino and Buese prospect areas. The Company will complete detailed structural mapping and partial re-logging of historical core alone with extensive soil, channel, and rock grab sampling programs are planned to identify new targets and extend known gold mineralization. A high-resolution ground geophysics program will be conducted over key areas and exploration targets in Upper Antino, including: 52 km of high-resolution ground magnetics to provide detailed structural information along strike of known mineralized zones; 19 km of gradient survey to provide data on chargeability and resistivity anomalies often associated with sulphides and quartz veining in high-grade shear zones; and 7 km of Pole-Dipole surveying, providing conductivity and resistivity data to identify anomalies closely associated with gold mineralization along sheared and secondary fault structures.

In addition to the successful mobilization and start of the 2023 drill program, the Company has completed camp and road upgrades to increase operational efficiency, streamline core processing, and accommodate the near-term increase to two core drilling rigs.

Colin Padget, President and CEO, said, "The start of drilling at Antino is a significant milestone for Founders. The team has already completed the first hole, and after logging, the core will be shipped to the lab for assay, with results soon to follow. We look forward to leveraging the benefit of short turnaround times on assays to help guide exploration and to be able to communicate results as they become available regularly."