B2Gold Increases Position in Founders Metals

Rhea-AI Summary

Founders Metals (OTCQX: FDMIF) announced that B2Gold Corp. has completed its obligations under the Shareholder Agreement by purchasing 1,170,000 common shares in the open market. This purchase maintains B2Gold's right to participate in future financings up to a 9.9% ownership cap.

Following this transaction and previous private placement subscriptions, B2Gold now holds approximately 6% of Founders' issued and outstanding common shares on a non-diluted basis. The investment demonstrates B2Gold's confidence in Founders and the Antino Gold Project, which is being developed as a potential Tier 1 discovery.

Positive

• B2Gold increased its ownership to 6% of Founders' shares
• Strategic investment from major mining company validates Antino Gold Project potential
• B2Gold maintains right to participate in future financings up to 9.9% ownership

Negative

• None.

Vancouver, British Columbia--(Newsfile Corp. - August 20, 2025) - Founders Metals Inc. (TSXV: FDR) (OTCQX: FDMIF) (FSE: 9DL0) ("Founders" or the "Company") announces that B2Gold Corp. ("B2Gold") has completed its obligations under the Shareholder Agreement by purchasing 1,170,000 common shares (the "Shares"), as outlined in the Company's November 5, 2024 press release. B2Gold purchased the Shares in the open market to fulfill its agreement and preserve its right to participate in future financings up to a maximum of 9.9% ownership. Together with its prior private placement subscriptions, B2Gold now holds ~6% of Founders' issued and outstanding common shares on a non-diluted basis.

Colin Padget, President and CEO, commented: "B2Gold's decision to increase their position demonstrates strong confidence in Founders and the Antino Gold Project. Their continued investment reinforces our shared belief in Antino as a Tier 1 discovery, and we're pleased to have their ongoing support as we work to unlock the project's full potential and realize value for shareholders."

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 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.

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 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.

¹2022 Technical Report - Antino Project; Suriname, South America. K. Raffle, BSc, P. Geo & Rock Lefrançois, BSc, P.Geo.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/263161

FAQ

What percentage of Founders Metals (FDMIF) does B2Gold now own?

B2Gold now holds approximately 6% of Founders Metals' issued and outstanding common shares on a non-diluted basis.

How many shares did B2Gold purchase in Founders Metals (FDMIF)?

B2Gold purchased 1,170,000 common shares of Founders Metals in the open market.

What is B2Gold's maximum ownership limit in Founders Metals (FDMIF)?

B2Gold has the right to participate in future financings up to a maximum of 9.9% ownership in Founders Metals.

What is the significance of B2Gold's investment in Founders Metals (FDMIF)?

The investment demonstrates strong confidence in Founders Metals and the Antino Gold Project, supporting its potential as a Tier 1 discovery.

When did Founders Metals (FDMIF) announce the initial shareholder agreement with B2Gold?

The initial shareholder agreement was announced in Founders Metals' press release dated November 5, 2024.