Ms. Katie MacKenzie reports

FOUNDERS METALS ANNOUNCES C$30 MILLION BOUGHT DEAL FINANCING

Founders Metals Inc. has entered into an agreement with a syndicate of underwriters led by BMO Capital Markets, under which the underwriters have agreed to buy, on a bought deal basis by way of private placement, 5,716,000 common shares of the company, at a price of $5.30 per common share, for gross proceeds of approximately $30-million. In addition, the company has also granted the underwriters an option, exercisable up to 48 hours prior to the closing of the offering, to purchase up to an additional 15 per cent of the number of common shares purchased pursuant to the offering.

The company intends to use the net proceeds of the offering to accelerate continuing exploration activities on the Antino gold project and general corporate purposes.

The offering is expected to close on or about Feb. 20, 2025, and is subject to the company receiving all necessary regulatory approvals, including the approval of the TSX Venture Exchange.

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 surface and alluvial mining to date (1). The company is fully financed for up to 60,000 metres of drilling in 2025.

(1) "2022 Technical Report -- Antino Project, Suriname, South America," K. Raffle, BSc, PGeo, and Rock Lefrancois, BSc, PGeo.

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