Founders Metals acquires full ownership of Antino gold project in Suriname

Founders Metals Inc. (TSXV: FDR) (OTCQX: FDMIF) has completed the acquisition of the remaining 30% of Lawa Gold N.V. from Nana Resources N.V., giving the company a 100% royalty-free interest in the 102,360-hectare Antino Gold Project in southeastern Suriname.

Concurrently, the company closed a C$76,958,864 strategic investment by Gold Fields Netherlands Services B.V., an affiliate of Gold Fields Limited (JSE: GFI) (NYSE: GFI). Under the transaction, Founders issued 14,146,850 common shares at C$5.44 per share to Gold Fields, increasing Gold Fields' ownership from approximately 12.5% to approximately 19.9% of the company's issued and outstanding common shares.

As consideration for the 30% stake, Nana Resources received US$17,000,000 in cash and 13,568,944 common shares of Founders. Nana is also entitled to receive up to US$21,000,000 in contingent milestone payments tied to mineral resource estimates, permitting, construction, and production milestones at the project.

Proceeds from the Gold Fields investment were used to fund the cash portion of the acquisition, with the remaining balance designated for regional exploration, working capital, and general corporate purposes.

Following the closing, Nana holds approximately 9.9% of Founders' outstanding common shares, after transferring 1,102,531 shares to advisors in connection with advisory fees related to the transaction.

Colin Padget, President and CEO of Founders, stated: "With the closing of this transaction, Founders' shareholders now hold a 100%, royalty-free interest in the entire 102,360-hectare Antino district, and we have the operational control to advance it on our terms."

All shares issued in connection with the transactions are subject to a statutory hold period of four months and one day under Canadian securities legislation and TSX Venture Exchange policies. No finders' fees were paid in connection with either transaction.

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