Founders Metals Consolidates Antino Gold Project Ownership and Secures Strategic Investment

Founders Metals Inc. has completed a significant acquisition and secured a strategic investment, consolidating its ownership of the Antino Gold Project and strengthening its partnership with Gold Fields Limited.

Founders Metals Inc. has now fully acquired the remaining 30% of Lawa Gold N.V., bringing its ownership of the Antino Gold Project to 100%. The project, located in southeastern Suriname, spans 102,360 hectares and represents the largest contiguous package of greenstone belt geology in the Guiana Shield. Founders' President and CEO, Colin Padget, expressed gratitude to Nana Resources N.V. for their partnership and contribution to the project's progress.

Simultaneously, the company secured a strategic investment from Gold Fields Netherlands Services B.V., an affiliate of Gold Fields Limited. The investment, valued at C$76,958,864, increased Gold Fields' ownership stake to approximately 19.9% of Founders' issued and outstanding common shares. Padget highlighted that this investment is a strong endorsement of the Antino Gold Project's potential.

Under the terms of the strategic investment, Founders issued 14,146,850 common shares to Gold Fields at a price of C$5.44 per share. Prior to the investment, Gold Fields held 14,489,879 common shares, representing 12.5% of Founders' issued and outstanding shares. Following the transaction, Gold Fields now holds 28,636,729 common shares, marking a significant increase in its ownership to 19.9%.

Padget commented, "With the closing of this transaction, Founders' shareholders now hold a 100%, royalty-free interest in the entire 102,360-hectare Antino district. We have the operational control to advance the project on our terms."

The transaction also included a cash payment and the potential for contingent milestone payments, totaling up to US$21,000,000. These payments are tied to the achievement of specific milestones at the Antino Gold Project, including mineral resource estimates, permitting, construction, and production.

Founders Metals Inc. is committed to advancing the Antino Gold Project and exploring the district's potential. The company's next steps include regional exploration activities, working capital management, and general corporate purposes. The funds raised from the strategic investment will support these initiatives.

The transaction is subject to a four-month and one-day statutory hold period in accordance with applicable Canadian securities legislation and TSX Venture Exchange policies. Neither finders' fees were paid in connection with the transaction nor the strategic investment.