Founders Metals Appoints Vijay Kirpalani to Board of Directors

Rhea-AI Summary

Founders Metals (OTCQX: FDMIF; TSXV: FDR) appointed Vijay Kirpalani to its Board of Directors as an independent director, effective November 25, 2025. Kirpalani brings over two decades of finance, advisory, and governance experience in Suriname, including service on the Supervisory Board of Rosebel Gold Mines since 2002 and a directorship at Reunion Gold until its 2024 acquisition.

The company also announced the departure of director Kevin Vienneau and granted 250,000 stock options at an exercise price of C$4.35, vesting over up to three years and expiring five years from grant. Management highlighted Kirpalani's local regulatory knowledge and relationships to support ongoing exploration at the Antino Project.

Positive

• Independent director with 20+ years Suriname experience
• Director experience includes Rosebel Gold Mines since 2002
• 250,000 stock options granted to align interests

Negative

• 250,000 options introduce potential shareholder dilution

Vancouver, British Columbia--(Newsfile Corp. - November 25, 2025) - Founders Metals Inc. (TSXV: FDR) (OTCQX: FDMIF) (FSE: 9DL0) ("Founders" or the "Company") announces the appointment of Mr. Vijay Kirpalani to its Board of Directors as an independent Director, effective immediately.

Mr. Kirpalani brings over two decades of finance, advisory, and corporate governance experience in the mining sector, including a distinguished record of leadership and value creation in Suriname. He has served on the Supervisory Board of Rosebel Gold Mines N.V. since 2002—initially under IAMGOLD and, since February 2023, under Zijin Mining—and was a Director of Reunion Gold from 2003 until Reunion's 2024 acquisition by G Mining Ventures. Mr. Kirpalani has also held board positions with TSX-listed Hope Bay Gold Corp. and Ariane Gold Corp. He holds a law degree from the Anton de Kom University of Suriname. Mr. Kirpalani's deep understanding of Suriname's regulatory framework and mining sector, combined with his strong local relationships, will be highly valuable as Founders continues to build value through ongoing exploration at Antino.

Colin Padget, President & CEO, commented: "We are delighted to welcome Vijay to our Board of Directors. His extensive experience in Suriname's mining sector, business and leadership capabilities, and demonstrated success in supporting mining development in the country make him an excellent addition to Founders' Board. As we advance the Antino Project, Vijay's expertise and insights into Suriname's mining community will strengthen our ability to create long-term value."

Founders Metals also announces that Mr. Kevin Vienneau will be stepping down from the Board of Directors. The Board and Management thank Mr. Vienneau for his contributions and commitment to the Company's development and wish him continued success in his future endeavours.

The Company has granted 250,000 stock options under Founders' Stock Option Plan. The Options have been granted at an exercise price of C$4.35 per common share, vest over a period of up to three years, and expire five years from the date granted.

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.
¹12022 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 long term value creation and 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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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/275833

FAQ

Who is Vijay Kirpalani and why was he appointed to Founders Metals (FDMIF) on November 25, 2025?

Vijay Kirpalani is an independent director with 20+ years in Suriname mining governance, appointed to provide local regulatory and sector expertise for the Antino Project.

What director change did Founders Metals (FDMIF) announce on November 25, 2025?

Founders Metals appointed Vijay Kirpalani to the board and announced that director Kevin Vienneau is stepping down.

How many stock options did Founders Metals (FDMIF) grant on November 25, 2025 and at what price?

The company granted 250,000 stock options at an exercise price of C$4.35 per common share.

What are the vesting and expiry terms for the 250,000 options granted by Founders Metals (FDMIF)?

The options vest over up to three years and expire five years from the date granted.

How might Vijay Kirpalani’s appointment affect Founders Metals’ Antino Project developments?

His experience and local relationships are intended to strengthen regulatory navigation and stakeholder engagement for Antino exploration.

Does the 250,000 option grant to Founders Metals (FDMIF) immediately dilute shareholders?

The grant creates potential future dilution upon exercise, subject to vesting and exercise timing.