Founders signs LOI to acquire 36,000 ha next to Antino

Executive Summary

• Founders Metals Inc. has signed a binding letter of intent (LOI) to acquire a 100% interest in a 36,000-hectare exploration concession immediately adjacent to its existing Antino gold project in southeastern Suriname.
• The acquisition nearly triples the company's total land position to approximately 56,000 hectares (560 square kilometres) within the Guiana Shield greenstone belt.
• The new concession offers significant exploration potential, including a potential extension of the Upper Antino high-grade gold mineralization and multiple high-grade shear zones identified via historical grab samples.

Key Details

• Transaction Structure: Binding letter of intent to acquire 100% of the exploration rights for a single right of exploration covering 36,000 hectares.
• Counterparty: An arm's-length Surinamese private company (historically explored by Canarc Resources between 1996 and 2007).
• Due Diligence Period: Founders retains exclusive rights to conduct legal due diligence for a 90-day period prior to executing a definitive purchase agreement.
• Discretion: Entry into a definitive agreement remains entirely at the discretion of Founders Metals.
• Total Land Position: The acquisition expands the total land package to 56,000 hectares (approx. 10 times the size of Manhattan).
• Strategic Targets:
  • Upper Antino Extension: High-grade gold mineralization along a 1,000-metre strike extension supported by historical auger data.
  • High-Grade Shear Zones: Recent grab sample results from separate shear zones along a >3-kilometre trend include:
    • 26.01 g/t Au
    • 36.84 g/t Au
    • 11.44 g/t Au
    • 70.93 g/t Au
• Historical Data & Database:
  • Airborne Geophysics: 1,860 line kilometres of aeromagnetic and radiometric survey data (150-metre line spacing).
  • Auger Samples: 1,877 historical auger samples, including a high-grade anomaly extending immediately northwest of Upper Antino.
  • Un-drilled Anomaly: A robust five-kilometre-by-2.5-kilometre historical gold anomaly to the north that has never been drill tested.
  • Previous Work: Over 10 years of active exploration including detailed bedrock mapping, trenching, channel sampling, and metallurgical testing.

Notable Quotes

• Colin Padget, President and CEO: "Acquiring this ground is transformational for Founders. We've nearly tripled our land position to 56,000 hectares and gained control of a district-scale opportunity in one of the world's most underexplored gold belts. What excites me most is the quality of targets we've just added. We have immediate opportunities to extend Upper Antino's high-grade gold mineralization along a 1,000-metre strike extension supported by historical auger data. In the northern part of the new area, there is a multikilometre network of high-grade shears plus a separate auger anomaly -- larger than Upper Antino -- that has never seen a drill hole. This acquisition gives us both near-term catalysts and long-term district potential as a premier explorer in Suriname and the Guiana Shield."