Tag: Founders Metals Inc

Founders Metals Inc. (TSXV: FDR) (OTCQX: FDMIF) (FSE: 9DL0) (“Founders” or the “Company”) is pleased to announce that it has entered into a subscription agreement with Gold Fields Netherlands Services B.V., an affiliate of Gold Fields Limited (JSE: GFI) (NYSE: GFI) (“Gold Fields”), whereby Gold Fields will acquire 12,048,193 common shares of the Company (the “Common Shares”), at a price of $4.15 per Common Share by way of a non-brokered private placement for aggregate gross proceeds of $50,000,000.

Proceeds from the strategic investment will be used for land consolidation, regional exploration activities, working capital, and general corporate purposes at the Company’s Antino Gold Project in southeastern Suriname (“Antino”). National Bank Capital Markets is acting as financial advisor.

Colin Padget, President and CEO of Founders Metals, commented: “We are very pleased to welcome Gold Fields, a top-tier global gold producer, as a strategic partner. Combining Founders’ position as the largest and most advanced gold explorer in Suriname with the technical capabilities of a company having decades of experience developing world-class gold deposits positions us to rapidly advance work at Antino. This partnership further underscores Suriname’s potential as an emerging gold jurisdiction globally. With this capital, we are dedicating our full attention to unlocking Antino’s potential—expanding our land position and aggressively advancing regional-scale exploration across multiple high-grade targets—building value for all shareholders.”

Investor Rights Agreement
In connection with the strategic investment, Founders Metals and Gold Fields will enter into an Investor Rights Agreement (the “IRA”) at closing, pursuant to which, and provided that Gold Fields maintains certain shareholding thresholds, Gold Fields will have top-up and financing participation rights, technical committee representation rights, and the right to appoint one nominee to the Company’s board of directors if Gold Fields’ ownership reaches or exceeds 12.5%.

In support of technical collaboration between Founders and Gold Fields, Gold Fields will additionally have the right to second technical staff into Lawa Gold N.V., the project company, subject to acceptance by the Company and in compliance with applicable Surinamese laws and regulations.

Closing and Regulatory Approvals
The transaction is expected to close on or about November 10, 2025, subject to customary conditions including TSX Venture Exchange (the “TSXV”) approval. All Common Shares issued pursuant to the subscription will be subject to a four-month and a day hold period in accordance with applicable Canadian securities legislation.

About Gold Fields Limited
Gold Fields is a globally diversified gold producer with nine operating mines in Australia, South Africa, Ghana, Chile and Peru and one project in Canada. The Company has a total attributable annual gold-equivalent production of 2.1 Moz, proved and probable Gold Mineral Reserves of 44.3 Moz, measured and indicated Gold Mineral Resources of 30.4 Moz (excluding Mineral Reserves) and inferred Gold Mineral Resources of 11.6 Moz (excluding Mineral Reserves). Gold Fields’ shares are listed on the JSE and American depositary shares trade on the New York Stock Exchange.

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 56,000 ha and has produced over 500,000 ounces of gold from historical surface and alluvial mining to date¹. The Company is systematically advancing one of Suriname’s most promising gold exploration and development opportunities with drill-confirmed, district-scale potential. Founders is committed to responsible exploration, community engagement, and delivering long-term value to shareholders through technical excellence and strategic growth in the Guiana Shield.
¹2022 Technical Report – Antino Project; Suriname, South America. K. Raffle, BSc, P. Geo & Rock Lefrançois, BSc, P.Geo.

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@fdrmetals.com

Harp Gosal, Director, Investor Relations
Tel: 236 301 4211 | harpg@fdrmetals.com

Cautionary Statement Regarding Forward-Looking Information
This press release contains “forward-looking information” within the meaning of applicable Canadian securities legislation, including statements regarding the use of proceeds, entering the IRA, Gold Fields right thereunder and exercise of those rights, approval of the TSXV and the anticipated closing date. Forward-looking information can generally be identified by words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, “believes”, or variations indicating that certain actions, events or results “may”, “could”, “would”, “might” or “will” occur or be achieved.

Forward-looking statements are based on management’s current expectations and reasonable assumptions but are subject to business, market, and economic risks, uncertainties, and contingencies that may cause actual results to differ materially from those expressed or implied, including: general business and economic uncertainties; exploration results; mining industry risks; failure to obtain TSXV approval; dilution respecting additional investment in the Company, that the use of proceeds may not be expended as anticipated by the Company, and other factors described in the Company’s most recent annual management discussion and analysis. Although the Company has attempted to identify important factors that could cause actual results to differ materially, other factors may cause results not to be as anticipated. There can be no assurance that forward-looking information will prove accurate, as actual results and future events could differ materially from those anticipated. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information except in accordance with applicable securities laws. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

All material information on Founders Metals can be found at www.sedarplus.ca.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/272916

Founders Metals Inc. (TSXV: FDR) (OTCQX: FDMIF) (FSE: 9DL0) (“Founders” or the “Company”) announces a new high-grade gold discovery at its Antino Gold Project (“Antino” or “Project”) in southeastern Suriname (Figure 1). The Company reports a 22.5 metre (m) interval of 11.88 grams per tonne (g/t) gold (Au) at Maria Geralda, a new exploration target approximately 5 km SE of Lower Antino. The drilling follows up on systematic surface exploration, including prospecting, mapping, and augering programs that identified a 500 m by 400 m gold anomaly at surface.

Highlights

• First-ever drilling at Maria Geralda delivers exceptional results with 22.5 m of 11.88 g/t Au (MG003)
• Discovery validates systematic exploration approach with auger sampling identifying a 500 m by 400 m gold anomaly at surface where 54% of samples returned assays above 0.1 g/t Au
• Significant expansion potential with the discovery zone open along strike and to depth, supporting plans for follow-up drilling in 2025

Colin Padget, President & CEO of Founders, commented, “While weather has limited our access to other exploration targets recently, we were pleased to maintain ready access to Maria Geralda and follow up on early surface results. This outstanding start to drilling at Maria Geralda further validates our exploration approach across the 200 km² Antino land package. The 22.5 m interval grading 11.88 g/t Au represents some of the highest-grade mineralization we’ve encountered to date. These results demonstrate the substantial discovery potential that exists beyond the property’s current established zones. Between this discovery, recent expansions at Upper and Lower Antino, and our ongoing 2025 exploration program, we see significant opportunity to build shareholder value.”

Maria Geralda is located along a major structural corridor on a northwest-trending lineament at the geologic boundary between intrusive rocks and mixed metavolcanic-metasedimentary formations. The discovery hole was designed to test the geochemical anomaly identified through the Company’s auger sampling program. Founders plans to follow-up with systematic step-out drilling to define the extent of mineralization along strike and to depth.

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, P.Geo.

Figure 1: Antino Property Map

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7574/256604_b2a266e214499871_001full.jpg

Figure 2: Maria Geralda Plan Map

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Table 1: Drill Hole Assay Results

Hole ID	From (m)	To (m)	Interval* (m)	Au (g/t)	Zone
MG003	18.6	41.1	22.50	11.88	Maria Geralda
and	289.0	294.0	5.00	0.51
MG002	236.0	242.0	6.00	1.04	Maria Geralda
MG001	14.1	21.6	7.50	0.51	Maria Geralda
and	283.0	290.0	7.00	0.63
and	315.0	327.0	12.00	0.59

Intervals are down-hole depths. Results from all zones outside of Upper Antino, Lower Antino and Buese have not seen sufficient drilling to provide estimated true widths.

Table 2: Drill Hole Locations

Hole ID	Easting (m)	Northing (m)	Elevation (m)	Azimuth (°)	Dip (°)	Depth (m)
MG003	825729.5	398220.3	159.5	70.2	-50.0	330.2
MG002	825721.7	398287.5	163.2	70.0	-50.0	251.0
MG001	825796.5	398110.0	155.5	69.7	-50.2	341.0

The coordinate reference system is WGS 84, UTM zone 21N (EPSG 32621)

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, M.Sc., P.Geol., P.Geo., 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 | katiem@fdrmetals.com

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 www.sedarplus.ca.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/256604