Founders Metals Stock Price, News & Analysis

Founders Metals Inc. (TSXV: FDR) (OTCQX: FDMIF) has announced a C$12.1 million investment from B2Gold Corp. at C$2.75 per share. This Strategic Investment, combined with a previously announced C$20 million bought deal private placement, will raise a total of C$32.1 million, fully funding Founders' planned 2025 budget. Upon completion, B2Gold will own 5.0% of Founders' issued and outstanding common shares on a non-diluted basis.

The investment validates Founders' Antino Gold Project and provides access to B2Gold's expertise in exploring and developing world-class mining assets. The deal includes an investor rights agreement, allowing B2Gold to increase ownership up to 9.9% and collaborate on technical aspects and new prospects in the Guiana Shield. The Strategic Investment is expected to close in Q4 2024, subject to customary conditions and regulatory approvals.

Founders Metals Inc. (TSXV: FDR) (OTCQX: FDMIF) has announced two significant developments:

1. Chris Taylor has joined as a new Independent Director. Taylor, a structural and economic geologist with over 20 years of experience, is known for his role in Great Bear Resources' major gold discovery and its subsequent C$1.8 billion acquisition by Kinross Gold. He has been granted 300,000 stock options at an exercise price of C$2.55 per common share.

2. The company has fulfilled the share issuance requirements to exercise the first stage of its Antino Option, acquiring a 51% interest in the Antino Gold Project. This was achieved by issuing 1,140,000 common shares to Nana Resources N.V. at a deemed price of C$2.69 per share, following a previous issuance of 475,000 shares in March 2023.

Founders Metals Inc. (TSXV: FDR) (OTCQX: FDMIF) has announced drill core assay results from its 2024 drill program at the Antino Gold Project in Suriname. The Phase 1 Buese drill program, covering 3,500 meters, revealed significant gold mineralization:

- High-grade, shear-hosted gold: 78.0 m of 2.35 g/t Au, including 20.0 m of 7.65 g/t Au
- Broad, intrusion-hosted gold: 16.5 m of 1.64 g/t Au, and 110.0 m of 0.34 g/t Au
- Tailings from historical mining: 15.6 m of 0.45 g/t Au from surface

The results confirm both high-grade and bulk-tonnage mineralization styles at Buese. A 7,500 m Phase 2 drill program is now underway to determine the strike extent of gold mineralization within the 4 km² surface anomaly. The company also noted potential in the tailings from over 100 years of artisanal mining, with plans for further exploration and metallurgical work.

Founders Metals Inc. (TSXV: FDR) (OTCQX: FDMIF) announces significant drill results from its 2024 program at the Antino Gold Project in Suriname. The company has extended the Froyo Gold Zone by 500 meters northward, connecting it with the historical Cupcake pit. Key highlights include:

- Drill hole 24GG015: 5.0 m of 14.09 g/t Au, 15.0 m of 3.51 g/t Au, and 7.0 m of 3.64 g/t Au
- Drill hole 24CU006: 7.0 m of 3.46 g/t Au
- Drill hole 24FR080: 14.0 m of 2.91 g/t Au
- Drill hole 24FR081: 24.0 m of 1.60 g/t Au

The Froyo zone's drill-defined footprint has nearly doubled in size. Founders plans a second phase of drilling at the Donut target in Q4 2024, following strong initial results including 19.0 m of 14.23 g/t Au and 45.0 m of 2.16 g/t Au.

Founders Metals Inc. (TSXV: FDR) (OTCQX: FDMIF) has exercised its right to acquire 51% of the Antino Gold Project in southeastern Suriname. The company has also amended and restated the option agreement with Nana Resources N.V., simplifying the earn-in process. Key changes include the removal of a 43-101 Resource requirement in Option 1 and a Preliminary Economic Assessment in Option 2. The company is actively drilling in three locations: Upper Antino, Buese, and Lower Antino. The updated agreement outlines three stages for increasing ownership:

1. Option 1 (51%): Cash payments of $1.65M USD, $6M USD in exploration expenses, and issuing 1,615,000 shares.
2. Option 2 (70%): Additional $1.5M USD, $10M USD in exploration, 95,000 shares, and a concept study.
3. Option 3 (75%): $10M USD in exploration and a bankable feasibility study.

Founders Metals Inc. (TSXV: FDR) (OTCQX: FDMIF) has provided an update on regional exploration targets at the Antino Gold Project in Suriname. The company plans to expand its drill program, starting with 1,500 meters at Lower Antino in mid-September. Key highlights include:

1. Lower Antino: High-priority target with 25% of grab samples grading >0.3 g/t Au and up to 20.4 g/t Au. Historical results show auger samples up to 49.3 g/t Au and grab samples of 144 g/t Au and 340 g/t Au.

2. Lawa: New prospect with three major gold-mineralized trends over 2.7 km strike length.

3. Southern Froyo Extension: Recent grab sample of 57.4 g/t Au collected 1,500 m southeast of Froyo, indicating potential for additional high-grade gold mineralization.

The company's exploration work continues to highlight the scale of the gold system at Antino and its potential for new discoveries.

Founders Metals Inc. (TSXV: FDR) (OTCQX: FDMIF) announces promising drill core assay results from its 2024 drill program at the Antino Gold Project in Suriname. The highlights demonstrate successful step-out exploration drilling at the Froyo Gold Zone, including:

• 44.0 m of 2.05 g/t Au (24GG013), including 11.0 m of 5.73 g/t Au
• 35.0 m of 2.37 g/t Au (24FR073)
• 30.0 m of 2.77 g/t Au (24GG006)
• 3.0 m of 10.20 g/t Au (24FR076)
• 9.3 m of 3.39 g/t Au (23GG002)

The results show a significant extension of mineralization, with drill hole 24GG013 representing a 65 m step-out north along strike of the previously released drillhole 24FR074. The new mineralization provides additional confidence in the continuity of parallel zones at Froyo, which remain open along strike and at depth.

Founders Metals Inc. (TSXV: FDR) (OTCQX: FDMIF) announces promising drill core assay results from its 2024 drill program at the Antino Gold Project in Suriname, focusing on the Froyo Gold Zone. Significant highlights include:

• 46.0 m of 5.31 g/t Au (24FR074), including 10.0 m of 12.05 g/t Au and 4.0 m of 29.36 g/t Au
• 28.0 m of 3.35 g/t Au and 7.0 m of 13.52 g/t Au (24FR075)

The results expand previously identified gold mineralization 150 meters eastward of the main Froyo Shear, confirming multiple robust, gold-bearing structures. The company plans to continue exploration on these parallel zones to further define their extent.

Founders Metals has commenced its 2024 drill program at the Buese area of the Antino Gold Project in Suriname. The program plans to drill up to 7,000 meters, starting with an initial 3,000 meters. Using their newly acquired third diamond drill, they aim to test high-grade shear zones and bulk-tonnage targets. New geophysical surveys have identified previously unknown mineralized structures, confirmed by high-grade gold samples. The Buese area spans over 600 hectares, with gold mineralization mapped along a 2 km segment. Recent findings include channel samples with up to 113.0 g/t gold, indicating significant bulk-tonnage potential. The first phase of drilling focuses on these promising targets.