Founders Metals Hits 53.1 m of 1.21 g/t Au from Surface in New Zone West of Upper Antino; Froyo Zone Drilling Intersects 9.0 m of 12.21 g/t Au & 37.0 m of 3.27 g/t Au

Founders Metals reported further drill results from the Antino Gold Project in Suriname. A new discovery 1.2 km west of Upper Antino returned 53.1 m of 1.21 g/t Au from surface (hole FR217). In the Froyo zone, deep drilling hit 9.0 m of 12.21 g/t Au (320 m vertical) and a broad 37.0 m of 3.27 g/t Au from 209 m in hole FR230. Additional holes filled in extensions and infill, with highlight FR219 returning 3.0 m of 29.17 g/t Au. The company emphasizes the new western zone was not on the radar four months ago, underscoring the rapid target generation within its 102,360 ha land package.

Today’s drill results are incrementally positive but fall within the pattern of repeated, high-quality exploration success that Founders has delivered over the past year. The new discovery west of Upper Antino is genuinely new information—it tests a greenfield target defined by surface geochemistry, not a simple step-out of a known zone. This supports management’s thesis of a district-scale system and could add a fresh pipeline of follow-up drilling. The deep high-grade at Froyo (9.0 m of 12.21 g/t Au) confirms continuity at depth and aligns with the company’s claim that mineralization persists well below 500 m vertical.

However, the materiality is tempered by the modest grade of the near-surface western intercept (1.21 g/t over 53 m) and the fact that the market has been inundated with high-grade hits for months. The stock has fallen from its May high of $5.89 to $3.77 pre-release, indicating that the bar for a positive repricing is high. No new strategic developments (financing, resource estimate, partnership) accompany this news. The news does not alter the immediate capital needs picture: the company burned $24.6 M in investing activities over the last six months and had $47.4 M cash at end of February 2026, giving it roughly 12–18 months of runway at current spend rates, assuming no further dilutive financing.

Compared to prior expectations, the results keep the exploration story intact but offer no game-changing leap. The company has not missed any stated milestones; it continues to drill across multiple targets, and the new discovery aligns with the exploration strategy outlined in the MD&A. The absence of a maiden resource estimate after 60,000+ m of drilling remains a gap, but that is a longer-term expectation.

Founders Metals is a Canadian gold exploration company focused on the 102,360-hectare Antino Gold Project in southeastern Suriname. The project sits within the Guiana Shield greenstone belt, an emerging gold district that hosts operating mines (Newmont, Zijin). Founders has consolidated a contiguous land package through acquisitions and option agreements. The flagship Antino zone spans multiple named targets: Upper Antino (Froyo, Donut), Lower Antino, Antino North, Maria Geralda, Parbo, Da Vinci, Van Gogh, and Buese. Historical production from artisanal mining exceeds 500,000 ounces. The company operates its own diamond drill rigs and has completed over 60,000 metres of drilling with no resource estimate yet published. The project is at an advanced exploration stage with a 70% interest held via Lawa Gold N.V. (partner Nana Resources 30%). Infrastructure includes an on-site airstrip and barge access. The workforce is over 75% local Surinamese.