Latest news with #AntinoGoldProject
Associated Press
21-05-2025
- Business
- Associated Press
Founders Metals Expands Upper Antino; Hits 33.0 m of 3.50 g/t Gold
Vancouver, British Columbia--(Newsfile Corp. - May 21, 2025) - Founders Metals Inc. (TSXV: FDR) (OTCQX: FDMIF) (FSE: 9DL0) ('Founders' or the 'Company') announces drill core assay results from the Antino Gold Project ('Antino' or 'Project') in southeastern Suriname (Figure 1). The Company reports high-grade gold mineralization at Upper Antino including 33.0 metres (m) of 3.50 grams per tonne (g/t) gold (Au) in drilling east of the Main Froyo Shear ('Froyo'). Additional drilling results extend gold mineralization north 125 m, increasing total strike length of Froyo to ~1.7 kilometres (Figure 2). Drilling Highlights Colin Padget, President & CEO, commented, 'These results clearly demonstrate Upper Antino's growth potential in multiple directions. Gold mineralization continues eastward over substantial intervals while our step-out drilling has successfully expanded the northern boundary by 125 metres. The two broad intervals in hole FR114 align well with our mineralization and structural models and suggest there is potential to 'connect-the-dots' between Froyo and Donut. Additionally, while we have seen some increases in assay turnaround times and have been focusing on certain corporate items, we anticipate releasing additional results from our earlier-stage exploration targets along-side a comprehensive overview in the coming weeks.' Drilling continues to expand Upper Antino gold mineralization and Figure 4 provides a 12-month snapshot showing the growth of the mineralized footprint over that time. In this release, drill hole FR114 intersecting 33.0 m of 3.50 g/t Au, is one of several holes planned to target further eastward growth of Froyo gold mineralization and determine if additional parallel zones link Froyo with the Donut target. Drillhole FR101 intercepted two distinct zones of mineralization with the shallower 22.50 m interval of 0.5 g/t Au beginning at 27.60 m and potentially a new shear as the deeper 12 m of 1.51 g/t Au aligns well with the previously reported 8.0 m of 2.08 g/t Au in hole FR095. These are encouraging intercepts indicating additional northward potential and drill holes are planned further north to continue testing these structures. About Founders Metals Inc. Founders Metals is a Canadian-based exploration company focused on advancing the Antino Gold Project located in Suriname, South America, in the heart of the Guiana Shield. Antino is 20,000 hectares and has produced over 500,000 ounces of gold from surface and alluvial mining to date 1. The Company is fully financed for up to 60,000 metres of drilling in 2025. 1 2022 Technical Report - Antino Project; Suriname, South America. K. Raffle, BSc, P. Geo & Rock Lefrançois, BSc, Table 1: Drill Hole Assay Results *Intervals are down-hole depths. True widths of mineralization are estimated to be approximately 85% of the down-hole interval based on preliminary results and observations. All are diamond drill holes. Table 2: Drill Hole Location The coordinate reference system is WGS 84, UTM zone 21N (EPSG 32621) [ This image cannot be displayed. Please visit the source: ] Figure 1: Antino Property Map To view an enhanced version of this graphic, please visit: [ This image cannot be displayed. Please visit the source: ] Figure 2: Plan Map To view an enhanced version of this graphic, please visit: [ This image cannot be displayed. Please visit the source: ] Figure 3: Cross-Section To view an enhanced version of this graphic, please visit: [ This image cannot be displayed. Please visit the source: ] Figure 4: Upper Antino Gold Footprint - 12-month Snapshot To view an enhanced version of this graphic, please visit: Quality Assurance and Control Samples were analyzed at FILAB Suriname, a Bureau Veritas Certified Laboratory in Paramaribo, Suriname (a commercial certified laboratory under ISO 9001:2015). Samples are crushed to 75% passing 2.35 mm screen, riffle split (700 g) and pulverized to 85% passing 88 µm. Samples were analyzed using a 50 g fire assay (50 g aliquot) with an Atomic Absorption (AA) finish. For samples that return assay values over 5.0 grams per tonne (g/t), another cut was taken from the original pulp and fire assayed with a gravimetric finish. Founders Metals inserts blanks and certified reference standards in the sample sequence for quality control. External QA-QC checks are performed at ALS Global Laboratories (Geochemistry Division) in Lima, Peru (an ISO/IEC 17025:2017 accredited facility). A secure chain of custody is maintained in transporting and storing of all samples. Drill intervals with visible gold are assayed using metallic screening. Rock chip samples from outcrop/bedrock are selective by nature and may not be representative of the mineralization hosted on the project. Qualified Persons The technical content of this news release has been reviewed and approved by Michael Dufresne, an independent qualified person as defined by National Instrument 43-101. ON BEHALF OF THE BOARD OF DIRECTORS, Per: " Colin Padget ' Colin Padget President, Chief Executive Officer, and Director Contact Information Katie MacKenzie, Vice President, Corporate Development Tel: 306 537 8903 | [email protected] Cautionary Statement Regarding Forward-Looking Information This press release contains 'forward-looking information' within the meaning of applicable Canadian securities legislation. Forward-looking information includes, without limitation, statements regarding the use of proceeds from the Company's recently completed financings and the future or prospects of the Company. Generally, forward-looking information can be identified by the use of forward-looking terminology such as 'plans', 'expects' or 'does not expect ", 'is expected ", 'budget', 'scheduled', 'estimates', 'forecasts', 'intends', 'anticipates' or 'does not anticipate', or 'believes', or variations of such words and phrases or state that certain actions, events or results 'may', 'could', 'would', 'might' or 'will be taken', 'occur' or 'be achieved'. Forward-looking statements are necessarily based upon a number of assumptions that, while considered reasonable by management, are inherently subject to business, market, and economic risks, uncertainties, and contingencies that may cause actual results, performance, or achievements to be materially different from those expressed or implied by forward-looking statements. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, other factors may cause results not to be as anticipated, estimated, or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. Other factors which could materially affect such forward-looking information are described in the risk factors in the Company's most recent annual management discussion and analysis. The Company does not undertake to update any forward-looking information except in accordance with applicable securities laws. All material information on Founders Metals can be found at To view the source version of this press release, please visit
Yahoo
08-05-2025
- Business
- Yahoo
Founders Metals Completes Work Commitment Milestone for Antino Option Agreement
Vancouver, British Columbia--(Newsfile Corp. - May 8, 2025) - Founders Metals Inc. (TSXV: FDR) (OTCQX: FDMIF) (FSE: 9DL0) ("Founders" or the "Company") is pleased to announce it has completed the expenditure requirements for Stage 2 of its Option Agreement on the Antino Gold Project in Suriname. The Company has submitted an audited report demonstrating that it has completed the required US$10,000,000 in exploration and development expenditures stipulated in the amended and restated Option Agreement with Lawa Gold N.V. ("Lawa") and Nana Resources N.V. ("Nana"). Upon completing Stage 2, Founders will increase its ownership stake in the Antino Project to 70% (51% from Stage 1 plus an additional 19% from Stage 2). To finalize Stage 2, Founders expects to deliver all payments and the outstanding internal concept study on the project, by month's end (Table 1). "Reaching this major milestone ahead of schedule demonstrates our commitment to rapidly advancing the Antino Gold Project," said Colin Padget, CEO of Founders Metals. "The exploration results to date have exceeded our expectations, and the internal concept study currently being finalized will provide valuable insights into the project's world-class economic potential." Table 1: Summary of Founders' requirements under Stage 2 of the Option Agreement Requirement Details Status Work Expenditures US$10,000,000 Completed Cash Payment US$1,500,000 In Progress - expected completion in the coming weeks Share Issuance 95,000 common shares of FDR Concept Study Delivery of an internal concept study (similar to a preliminary economic assessment) by an independent qualified professional Stock Options and RSU Grant The Company also announces that, pursuant to its Option and RSU Plans, it has granted a total of 2,950,000 Stock Options ('Options') and 1,380,000 Restricted Share Units ("RSUs") to directors, officers, employees, and consultants of the Company. The Options are exercisable at a price of C$4.70 per share and expire five years from the date of grant. Options and RSUs will vest over a period of three years, with one-third vesting on each of the first, second, and third anniversaries from the date of grant. About Founders Metals Inc. Founders Metals is a Canadian-based exploration company focused on advancing the Antino Gold Project located in Suriname, South America, in the heart of the Guiana Shield. Antino is 20,000 hectares and has produced over 500,000 ounces of gold from surface and alluvial mining to date1. The Company is fully financed for up to 60,000 metres of drilling in 2025. 1 2022 Technical Report - Antino Project; Suriname, South America. K. Raffle, BSc, P. Geo & Rock Lefrançois, BSc, ON BEHALF OF THE BOARD OF DIRECTORS Per: "Colin Padget" Colin PadgetPresident, Chief Executive Officer, and Director Contact Information Katie MacKenzie, Vice President, Corporate DevelopmentTel: 306 537 8903 | katiem@ Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release. Cautionary Statement Regarding Forward-Looking Information This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, without limitation, statements regarding the use of proceeds from the Company's recently completed financings and the future or prospects of the Company. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect ", "is expected ", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking statements are necessarily based upon a number of assumptions that, while considered reasonable by management, are inherently subject to business, market, and economic risks, uncertainties, and contingencies that may cause actual results, performance, or achievements to be materially different from those expressed or implied by forward-looking statements. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, other factors may cause results not to be as anticipated, estimated, or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. Other factors which could materially affect such forward-looking information are described in the risk factors in the Company's most recent annual management discussion and analysis. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws. To view the source version of this press release, please visit Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
28-04-2025
- Business
- Yahoo
Sranan Gold Strengthens Team with Board and Management Changes
Vancouver, British Columbia--(Newsfile Corp. - April 28, 2025) - Sranan Gold Corp. (CSE: SRAN) (FSE: P84) ("Sranan" or the "Company") today announced changes to its Advisory Board and team first announced in Peak Minerals Ltd.'s (now Sranan Gold) news release dated November 8, 2024. Board advisors John Williamson and Mario Stifano, and Chief Executive Officer Oscar Louzada have been appointed to Sranan's Board of Directors, effective immediately, with Mr. Williamson acting as Board Chair. Messrs. Williamson, Stifano and Louzada join John Alcock and Ron Shenton on the board, replacing Fred Tejada and Jonathan Yan who have retired from their positions. Mr. Alcock has also been appointed as Chief Financial Officer. Dr. Dennis LaPoint has been appointed as Executive Vice President, Exploration and Corporate Development. Oscar Louzada, CEO of Sranan Gold, commented: "We are pleased to put in place our board members and management team who bring complementary expertise to the Company that will be immediately applicable as we seek to unlock value at our Tapanahony Gold Project in Suriname. The newly appointed team has been involved in the Guiana Shield for many years and have been behind many of the currently listed companies operating in both Suriname and Guyana. "We are pleased to have John Williamson serving as Chairman of the board. His reputation for excellence and distinguished track record, including his involvement in the founding and growth of Founders Metals, overseeing its successful exploration efforts, strategic partnerships, and a focused approach to developing resource potential, make him a tremendous asset to Sranan Gold. "On behalf of Sranan, I thank outgoing board members Fred and Jonathan for their service and valuable contributions during their tenure." About John Williamson Mr. Williamson is a professional geologist and over his 35-year career he has collaborated with and led industry geoscientists and capital markets professionals on numerous successful ventures. He has led the raising of near $1 billion in capital, the discovery and/or growth of at least 10 million ounces of gold on 3 continents, as well as gold, copper and nickel mining projects. On more than one occasion his team's efforts have been recognized for excellence by being named to the TSX Venture 50TM. Mr. Williamson was involved with the founding and growth of Founders Metals Inc., an exploration company focused on advancing the Antino Gold Project in Suriname, where he was the co-founder and initial CEO. About Mario Stifano Mr. Stifano is a seasoned mining executive and Chartered Professional Accountant with 25 years of experience working with exploration, development and producing mining companies. He is currently the CEO of Galantas Gold and Executive Chairman of Doré Copper Mining Corp. He has held a number of senior executive positions including Chief Executive Officer of Cordoba Minerals Corp., Executive Chairman with Mega Precious Metals Inc., Vice President and Chief Financial Officer with Lake Shore Gold Corp Inc., and Vice President and Chief Financial Officer of Ivernia Inc. Mr. Stifano has been instrumental in raising over $700 million to explore and fund mining projects, and notably led the team that acquired, financed and listed the historic Omai Mine in Guyana in 2020. About Oscar Louzada Mr. Louzada has over 20 years of experience in the financial services sector, notably with Beeson Gregory (Investec) and Canaccord Genuity, and has been involved in Suriname gold exploration projects for 12 years. About John Alcock Mr. Alcock has over 30 years of experience as an accounting and financial professional, and as an investor in the junior mining space. He is a Chartered Professional Accountant and currently serves on the board of Altiplano Metals. About Ron Shenton Mr. Shenton has worked in the capital markets for 40 years. He began his career as an investment advisor at a national brokerage firm, before moving to a regional one. He has been the founder of several public companies, acted as CEO, served as a director, and performed the roles of investor relations and public relations, along with raising capital. While the majority of the companies have been in mining exploration, he has worked in the biotech, cyber security, technology, and oil and gas sectors. About Dr. Dennis LaPoint Dr. LaPoint is a highly experienced geologist who led the team that discovered the Merian Mine in Suriname in 2002, and was instrumental in new discoveries and resources for the Rosebel Mine in Suriname. He was also involved in the acquisition, financing and listing of the Omai Mine in Guyana. He has worked in Suriname for over 24 years. About Sranan Gold Sranan Gold Corp. is engaged in the business of mineral exploration and the acquisition of mineral property assets in Suriname. The highly prospective Tapanahony Project is located in the heart of Suriname's modern-day gold rush. Tapanahony covers 29,000 hectares in one of the oldest and largest small-scale mining areas in Suriname. There is significant production from saprolite by local miners along a 4.5-kilometre trend, where several areas of mining have been opened. Sranan Gold is also exploring its Aida Property consisting of five mineral claims covering an area of 2,335.42 hectares on the Shuswap Highland within the Kamloops Mining Division. For more information, visit Information contactOscar Louzada, CEO+31 6 25438975 THE CANADIAN SECURITIES EXCHANGE HAS NOT APPROVED NOR DISAPPROVED THE CONTENT OF THIS PRESS RELEASE. Forward-looking statements Certain statements in this release constitute "forward-looking statements" or "forward-looking information" within the meaning of applicable securities laws including, without limitation, the timing, nature, scope and details regarding the Company's future exploration plans. Such statements and information involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company, its projects, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. Such statements can be identified by the use of words such as "may", "would", "could", "will", "intend", "expect", "believe", "plan", "anticipate", "estimate", "scheduled", "forecast", "predict" and other similar terminology, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. These statements reflect the company's current expectations regarding future events, performance and results and speak only as of the date of this release. Forward-looking statements and information contained herein are based on certain factors and assumptions regarding, among other things, the estimation of mineral resources and reserves, the realization of resource and reserve estimates, metal prices, taxation, the estimation, timing and amount of future exploration and development, capital and operating costs, the availability of financing, the receipt of regulatory approvals, environmental risks, title disputes and other matters. While the Company considers its assumptions to be reasonable as of the date hereof, forward-looking statements and information are not guarantees of future performance and readers should not place undue importance on such statements as actual events and results may differ materially from those described herein. The Company does not undertake to update any forward-looking statements or information except as may be required by applicable securities laws. To view the source version of this press release, please visit Sign in to access your portfolio
Associated Press
28-04-2025
- Business
- Associated Press
Sranan Gold Strengthens Team with Board and Management Changes
Vancouver, British Columbia--(Newsfile Corp. - April 28, 2025) - Sranan Gold Corp. (CSE: SRAN) (FSE: P84) ('Sranan' or the 'Company') today announced changes to its Advisory Board and team first announced in Peak Minerals Ltd.'s (now Sranan Gold) news release dated November 8, 2024. Board advisors John Williamson and Mario Stifano, and Chief Executive Officer Oscar Louzada have been appointed to Sranan's Board of Directors, effective immediately, with Mr. Williamson acting as Board Chair. Messrs. Williamson, Stifano and Louzada join John Alcock and Ron Shenton on the board, replacing Fred Tejada and Jonathan Yan who have retired from their positions. Mr. Alcock has also been appointed as Chief Financial Officer. Dr. Dennis LaPoint has been appointed as Executive Vice President, Exploration and Corporate Development. Oscar Louzada, CEO of Sranan Gold, commented: 'We are pleased to put in place our board members and management team who bring complementary expertise to the Company that will be immediately applicable as we seek to unlock value at our Tapanahony Gold Project in Suriname. The newly appointed team has been involved in the Guiana Shield for many years and have been behind many of the currently listed companies operating in both Suriname and Guyana. 'We are pleased to have John Williamson serving as Chairman of the board. His reputation for excellence and distinguished track record, including his involvement in the founding and growth of Founders Metals, overseeing its successful exploration efforts, strategic partnerships, and a focused approach to developing resource potential, make him a tremendous asset to Sranan Gold. 'On behalf of Sranan, I thank outgoing board members Fred and Jonathan for their service and valuable contributions during their tenure.' About John Williamson Mr. Williamson is a professional geologist and over his 35-year career he has collaborated with and led industry geoscientists and capital markets professionals on numerous successful ventures. He has led the raising of near $1 billion in capital, the discovery and/or growth of at least 10 million ounces of gold on 3 continents, as well as gold, copper and nickel mining projects. On more than one occasion his team's efforts have been recognized for excellence by being named to the TSX Venture 50 TM. Mr. Williamson was involved with the founding and growth of Founders Metals Inc., an exploration company focused on advancing the Antino Gold Project in Suriname, where he was the co-founder and initial CEO. About Mario Stifano Mr. Stifano is a seasoned mining executive and Chartered Professional Accountant with 25 years of experience working with exploration, development and producing mining companies. He is currently the CEO of Galantas Gold and Executive Chairman of Doré Copper Mining Corp. He has held a number of senior executive positions including Chief Executive Officer of Cordoba Minerals Corp., Executive Chairman with Mega Precious Metals Inc., Vice President and Chief Financial Officer with Lake Shore Gold Corp Inc., and Vice President and Chief Financial Officer of Ivernia Inc. Mr. Stifano has been instrumental in raising over $700 million to explore and fund mining projects, and notably led the team that acquired, financed and listed the historic Omai Mine in Guyana in 2020. About Oscar Louzada Mr. Louzada has over 20 years of experience in the financial services sector, notably with Beeson Gregory (Investec) and Canaccord Genuity, and has been involved in Suriname gold exploration projects for 12 years. About John Alcock Mr. Alcock has over 30 years of experience as an accounting and financial professional, and as an investor in the junior mining space. He is a Chartered Professional Accountant and currently serves on the board of Altiplano Metals. About Ron Shenton Mr. Shenton has worked in the capital markets for 40 years. He began his career as an investment advisor at a national brokerage firm, before moving to a regional one. He has been the founder of several public companies, acted as CEO, served as a director, and performed the roles of investor relations and public relations, along with raising capital. While the majority of the companies have been in mining exploration, he has worked in the biotech, cyber security, technology, and oil and gas sectors. About Dr. Dennis LaPoint Dr. LaPoint is a highly experienced geologist who led the team that discovered the Merian Mine in Suriname in 2002, and was instrumental in new discoveries and resources for the Rosebel Mine in Suriname. He was also involved in the acquisition, financing and listing of the Omai Mine in Guyana. He has worked in Suriname for over 24 years. About Sranan Gold Sranan Gold Corp. is engaged in the business of mineral exploration and the acquisition of mineral property assets in Suriname. The highly prospective Tapanahony Project is located in the heart of Suriname's modern-day gold rush. Tapanahony covers 29,000 hectares in one of the oldest and largest small-scale mining areas in Suriname. There is significant production from saprolite by local miners along a 4.5-kilometre trend, where several areas of mining have been opened. Sranan Gold is also exploring its Aida Property consisting of five mineral claims covering an area of 2,335.42 hectares on the Shuswap Highland within the Kamloops Mining Division. For more information, visit Information contact Oscar Louzada, CEO +31 6 25438975 THE CANADIAN SECURITIES EXCHANGE HAS NOT APPROVED NOR DISAPPROVED THE CONTENT OF THIS PRESS RELEASE. Forward-looking statements Certain statements in this release constitute 'forward-looking statements' or 'forward-looking information' within the meaning of applicable securities laws including, without limitation, the timing, nature, scope and details regarding the Company's future exploration plans. Such statements and information involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company, its projects, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. Such statements can be identified by the use of words such as 'may', 'would', 'could', 'will', 'intend', 'expect', 'believe', 'plan', 'anticipate', 'estimate', 'scheduled', 'forecast', 'predict' and other similar terminology, or state that certain actions, events or results 'may', 'could', 'would', 'might' or 'will' be taken, occur or be achieved. These statements reflect the company's current expectations regarding future events, performance and results and speak only as of the date of this release. Forward-looking statements and information contained herein are based on certain factors and assumptions regarding, among other things, the estimation of mineral resources and reserves, the realization of resource and reserve estimates, metal prices, taxation, the estimation, timing and amount of future exploration and development, capital and operating costs, the availability of financing, the receipt of regulatory approvals, environmental risks, title disputes and other matters. While the Company considers its assumptions to be reasonable as of the date hereof, forward-looking statements and information are not guarantees of future performance and readers should not place undue importance on such statements as actual events and results may differ materially from those described herein. The Company does not undertake to update any forward-looking statements or information except as may be required by applicable securities laws. To view the source version of this press release, please visit
Globe and Mail
22-03-2025
- Business
- Globe and Mail
Founders Metals Hits 72.0 m of 2.29 g/t Gold at Van Gogh; Extends Mineralization from Surface to 200 m Vertical Depth
Vancouver, British Columbia--(Newsfile Corp. - March 17, 2025) - Founders Metals Inc. (TSXV: FDR) (OTCQX: FDMIF) (FSE: 9DL0) ("Founders" or the "Company") announces further assay results from preliminary drilling at Van Gogh, the most recent high-grade gold discovery at its Antino Gold Project ("Antino" or "Project") in southeastern Suriname (Figure 1). The Company reports 72.0 metres (m) of 2.29 grams per tonne (g/t) gold (Au) extending gold mineralization to approximately 200.0 m vertical depth from surface at Van Gogh. The drilling follows up on the 28.5 m of 7.12 g/t Au interval from 18 m down hole in the first hole reported on February 20 th (news release). Highlights Drill hole VG004 intercepts 72.0 m of 2.29 g/t Au from 177.0 m down hole (Figure 2) Gold mineralization extended from surface (channel - 17.8 m of 5.68 g/t Au), through saprolite zone (VG001 - 28.5 m of 7.12 g/t Au), and into fresh rock down to 200.0 m vertical depth (VG004 - 72.0 m of 2.29 g/t Au) Mineralized interval potentially broadens with depth from surface Completely original discovery with no current or historical artisanal mining within 1.5 km of Van Gogh target area With the success at Da Vinci and Van Gogh, Founders is committed to allocating up to 50% of its 2025 drill metres to high-priority targets in brand new areas 5 th diamond drill operational by mid-year "The latest Van Gogh results further support the tier 1 discovery potential that Antino and our 2025 exploration program represents. Van Gogh is emerging as another key discovery, with characteristics most like Upper Antino," said Colin Padget, President & CEO. "Founders' focus this year is on unlocking the property's full potential and building value for shareholders through systematic discovery and the ongoing expansion of our earlier successes. To this end, we currently have four drills turning full-time and a fifth rig will be operational by mid-year." Geology and Drilling Discussion Van Gogh is 2.0 km from Lawa and 3.8 km from Da Vinci, and forms part of an emerging multi-kilometre northwest oriented gold trend extending through the Maria Geralda target to Lower Antino, and sub-parallel to the main Antino Shear Zone spanning 15+ km from Upper Antino to Da Vinci (Figure 1). Gold mineralization at Van Gogh is hosted within a subvertical mylonite zone with estimated true widths ranging ~25-50+ metres. The mineralized zones comprise broad intervals of intensely sheared, highly silicified country rock containing multiple generations of quartz veining. In VG004, the gold-bearing intervals contain up to 15% sulphide (pyrite) and coincide with moderate to strong sericite-chlorite-ankerite alteration. Drill holes VG002 and VG003 were drilled to test the along-strike continuity of the saprolite (oxide)-hosted gold mineralization from previously reported channel (17.8 m of 5.68 g/t Au) and drilling (VG001, 28.5 m of 7.12 g/t Au) results but are interpreted to have gone over the top of the mineralized structure. VG002 and VG003 logging shows similar broad-scale shearing to that observed deeper in holes VG001 and VG004, however lacked the characteristic sulphide content commonly associated with significant gold mineralization at Antino. In VG004, the steeply dipping gold mineralization occurs in fresh rock over a much broader interval than in the saprolite above (Figure 2), which may have been transported (i.e., slumped) several metres downslope. Follow-up drilling focuses on extending the broad, fresh rock, gold-bearing interval VG004 and incorporates newly acquired downhole structural and surficial mapping data. About Founders Metals Inc. Founders Metals is a Canadian-based exploration company focused on advancing the Antino Gold Project located in Suriname, South America, in the heart of the Guiana Shield. Antino is 20,000 hectares and has produced over 500,000 ounces of gold from surface and alluvial mining to date 1. The Company is fully financed for up to 60,000 metres of drilling in 2025. 1 2022 Technical Report - Antino Project; Suriname, South America. K. Raffle, BSc, P. Geo & Rock Lefrançois, BSc, Table 1: Drill Hole Assay Results Hole ID From (m) To (m) Interval* (m) Au (g/t) VG004 177.0 249.0 72.0 2.29 and 262.0 271.0 9.0 1.51 VG003 NSA VG002 NSA *Intervals are down-hole depths. True widths of mineralization are estimated to be approximately 85% of the down-hole interval based on preliminary results and observations. Table 2: Drill Hole Location Hole ID Easting (m) Northing (m) Elevation (m) Azimuth (°) Dip (°) Depth (m) VG004 828148.7 395941.3 151.0 259.7 -55.1 343.9 VG003 828066.3 395866.5 135.6 80.0 -49.9 284.1 VG002 828013.0 395949.0 115.2 79.9 -50.1 251.0 The coordinate reference system is WGS 84, UTM zone 21N (EPSG 32621) Figure 1: Property Scale Map with Auger Samples and Van Gogh Drilling Results To view an enhanced version of this graphic, please visit: Figure 2: Van Gogh Cross-Section To view an enhanced version of this graphic, please visit: Figure 3: Van Gogh Core Photos To view an enhanced version of this graphic, please visit: Core photos of Van Gogh drill hole VG004 showing excellent grade distribution throughout the interval from 177.0 m (upper left, left column) to 249.0 m (bottom right, right column). Quality Assurance and Control Samples were analyzed at FILAB Suriname, a Bureau Veritas Certified Laboratory in Paramaribo, Suriname (a commercial certified laboratory under ISO 9001:2015). Samples are crushed to 75% passing 2.35 mm screen, riffle split (700 g) and pulverized to 85% passing 88 µm. Samples were analyzed using a 50 g fire assay (50 g aliquot) with an Atomic Absorption (AA) finish. For samples that return assay values over 5.0 grams per tonne (g/t), another cut was taken from the original pulp and fire assayed with a gravimetric finish. Founders Metals inserts blanks and certified reference standards in the sample sequence for quality control. External QA-QC checks are performed at ALS Global Laboratories (Geochemistry Division) in Lima, Peru (an ISO/IEC 17025:2017 accredited facility). A secure chain of custody is maintained in transporting and storing of all samples. Drill intervals with visible gold are assayed using metallic screening. Rock chip samples from outcrop/bedrock are selective by nature and may not be representative of the mineralization hosted on the project. Qualified Persons The technical content of this news release has been reviewed and approved by Michael Dufresne, a qualified person as defined by National Instrument 43-101. ON BEHALF OF THE BOARD OF DIRECTORS, Per:" Colin Padget" Colin Padget President, Chief Executive Officer, and Director Contact Information Katie MacKenzie, Vice President, Corporate Development Tel: 306 537 8903 | katiem@ Cautionary Statement Regarding Forward-Looking Information This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, without limitation, statements regarding the use of proceeds from the Company's recently completed financings and the future or prospects of the Company. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect ", "is expected ", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking statements are necessarily based upon a number of assumptions that, while considered reasonable by management, are inherently subject to business, market, and economic risks, uncertainties, and contingencies that may cause actual results, performance, or achievements to be materially different from those expressed or implied by forward-looking statements. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, other factors may cause results not to be as anticipated, estimated, or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. Other factors which could materially affect such forward-looking information are described in the risk factors in the Company's most recent annual management discussion and analysis. The Company does not undertake to update any forward-looking information except in accordance with applicable securities laws. All material information on Founders Metals can be found at
