Founders Metals Completes 36,000 Hectare Acquisition & Expands Upper Antino Gold Mineralization to 2.5 Kilometres

Vancouver, British Columbia–(Newsfile Corp. – November 20, 2025) – Founders Metals Inc. (TSXV: FDR) (OTCQX: FDMIF) (FSE: 9DL0) (“Founders” or the “Company”) announces that it has signed the Definitive Agreement to acquire 100% ownership of the previously announced 36,000 hectare (ha) exploration concession west of the Company’s Antino Gold Project (“Antino” or the “Project”) in Southeastern Suriname (Figure 1). The acquisition expands the Project area to 56,000 ha and allows Founders to restart northwestward expansion drilling of Upper Antino, which was previously stopped at the concession boundary, but where historical auger gold anomalies support considerable potential growth (Figure 2).

Founders also announces drill core assay results from its ongoing 60,000 metre (m) drill program. The results extend Upper Antino gold mineralization to a total strike length of over 2,500 m, and include intervals of 17.0 m of 3.06 g/t Au in hole FR157 and a broader, near-surface interval of 60.0 m of 0.85 g/t Au from a depth of only 8.1 m in hole FR172.

Colin Padget, Founders’ President & CEO, commented: “This is a transformational period for Founders – over the past two weeks, we’ve closed a C$50 million strategic investment from Gold Fields, expanded the Antino land package to 56,000 hectares, and with today’s results, demonstrated excellent along-strike, progressive growth of gold mineralization at Upper Antino.

With a strong cash position, a proven exploration team, and clear ability to operate efficiently in Suriname, Founders is well positioned to systematically explore our ever-growing land package of highly prospective geology with the proven potential to host multi-million-ounce gold deposits. Our four drills are currently turning at Da Vinci, Lower Antino, Parbo, and Upper Antino, with Van Gogh drilling planned to begin shortly. Results from Maria Geralda and Parbo are expected in the coming weeks, followed by results from other priority targets through Q4 and into early 2026.”

Drilling Highlights:

250-metre Extension Along Parallel Gold Mineralization Continues Between Froyo and Donut

• 17.0 m of 3.06 g/t Au, including 4.0 m of 10.44 g/t Au from 195.0 m (FR157), confirming mineralization continues along strike to the southeast (Figure 2 & 3)
• 46.0 m of 1.03 g/t Au, within a broader 60.0 m interval of 0.85 g/t Au from 8.1 m (FR172), demonstrating near-surface mineralization with significant widths
• 14.0 m of 1.88 g/t Au from 225.0 m (FR154)

Main Froyo Zone Drilling Demonstrates Vertical Continuity Along Multiple Structures

• 7.0 m of 11.74 g/t Au from 197.0 m, 19.0 m of 1.18 g/t Au from 133.0 m, and 4.0 m of 5.10 g/t Au from 109.0 m (FR173)

Definitive Agreement

Founders has signed a Definitive Agreement and closed the transaction announced on October 31, 2025 to acquire 100% of the 36,000 ha Right of Exploration on the concession immediately west of Antino with an arm’s length Surinamese private company. Total consideration for the acquisition comprises US$5.0 million (US$139/ha) in cash plus contingent milestone payments of: (1) US$1.0 million upon publishing a mineral resource estimate of 1 million or more ounces of gold, (2) a one-time payment of US$2.50 per recoverable ounce defined in a completed Feasibility Study, and (3) US$2.50 per ounce produced beyond the Feasibility Study estimate.

Figure 1: Antino Gold Project Property Map

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Figure 2: Upper Antino Plan Map

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Figure 3: Oblique View & Long-Section of Upper Antino Drilling by Founders to Date

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https://images.newsfilecorp.com/files/7574/275298_figure3.png

Table 1: Upper Antino Assay Results

* Intervals are down-hole depths. True widths of mineralization are estimated to be approximately 85% of the down-hole interval based on currently available results and observations. All are diamond drill holes. Average grades are calculated with un-capped gold assays, as insufficient drilling has been completed to determine capping levels for higher grade gold intercepts. Average widths are calculated using a 0.10 g/t gold cut-off grade with <5.0 m of internal dilution of zero grade, and a minimum composite length of 2.0 m. Nothing included in table <1 gram * metre.

Table 2: Upper Antino Drill Hole Locations

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

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 hectares 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.

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.

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.

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 from the Company’s recently completed financings and the Company’s prospects. 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; 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.

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