Vancouver, British Columbia - Newsfile Corp. - May 20, 2026 - Founders Metals Inc. (TSXV: FDR) (OTCQX: FDMIF) (FSE: 9DL0) ("Founders" or the "Company") reports results from its deep auger drilling program at the Maria Geralda target within the Antino Gold Project ("Antino" or the "Project") in southeastern Suriname (Figure 1). The 37-hole deep auger program has identified a coherent, high-grade gold shoot - a concentrated zone of mineralization within a larger 600 m drill-defined gold-bearing structure - directly coincident with the Company's previously reported diamond drill intercept of 22.5 metres (m) of 11.88 grams per tonne (g/t) gold (Au) in hole MG003 (announced June 24, 2025). Highlights

• High-grade deep auger intercepts in core of gold zone including:
  • 30.0 m of 4.64 g/t Au (MGAD041)
  • 12.0 m of 10.57 g/t Au (MGAD059)
  • 14.0 m of 7.52 g/t Au (MGAD056)
  • 15.0 m of 4.83 g/t Au (MGAD055)

• Additional significant deep auger intercepts include:
  • 16.0 m of 4.35 g/t Au (MGAD043)
  • 18.0 m of 3.56 g/t Au (MGAD057)
  • 20.0 m of 2.88 g/t Au (MGAD058)
  • 13.0 m of 3.68 g/t Au (MGAD049)

• Target remains open at depth with 20 deep auger holes ending in mineralization at the 30 m auger limit
• New auger data defines shoot orientation, plunge direction, and dimensions, providing a precise targeting framework for follow-up diamond drilling down plunge into untested bedrock
• Directly applicable to other Emerging Targets including Van Gogh, Da Vinci, and Parbo
• The Company plans to expand the auger grid to test a potential second shoot followed by diamond drilling in early Q4 2026

Colin Padget, President & CEO, commented, "This deep auger program has delivered exactly what it was designed to do - provide a three-dimensional picture of how high-grade gold is organized within the Maria Geralda system. The results show that the nearly 12 g/t Au interval over 22.5 m in MG003 is not an isolated occurrence but sits within a geometrically coherent, plunging high-grade zone. Understanding this geometry is critical for targeting across Antino - it tells us where to drill and, just as importantly, where not to drill. The zone plunges steeply to the west-southwest within a structure that our diamond drilling has shown carries gold over more than a kilometre of strike. This style of high-grade shoot within an extensive structural host is a well-recognized geometry in orogenic gold systems, and we look forward to testing this shoot into bedrock with our next phase of diamond drilling in early Q4." The auger data defines a plunging shoot within a west-dipping structural host. The upper contact of the mineralized zone strikes north-south and dips approximately 36° to the west, deepening from 10 m in the northeast to 28 m in the southwest. The highest-grade gold plunges more steeply at 56-60° toward the west-southwest within this envelope - meaning grades intensify with depth. The shoot footprint at the ≥1.0 g/t Au cutoff measures 18 m along-plunge × 9 m along-strike with a stable 2:1 aspect ratio, and cumulative grade curves show no sign of diminishing at the 30 m auger depth limit. All current mineralization is in saprolite; the bedrock beneath the shoot has not been tested. Next Steps The Company is expanding the auger grid to test five shallow gold intersections that may represent a second shoot or a near-surface zone adjacent to the main shoot. Maria Geralda is easily accessible for diamond drilling from the Company's existing road network, and Founders aims to return with diamond drills for bedrock follow-up in early Q4 2026. Figure 1: Maria Geralda Plan Map To view an enhanced version of this graphic, please visit: https://images.newsfilecorp.com/files/7574/298183_b5d4e536f4b11803_001full.jpgFigure 2: Maria Geralda Section To view an enhanced version of this graphic, please visit: https://images.newsfilecorp.com/files/7574/298183_b5d4e536f4b11803_002full.jpgTable 1: Deep Auger Assay Results

Hole ID	From (m)	To (m)	Interval* (m)	Au (g/t)
MGAD059	9.0	21.0	12.0	10.57
MGAD058	10.0	30.0	20.0	2.88
MGAD057	11.0	29.0	18.0	3.56
MGAD056	16.0	30.0	14.0	7.52
MGAD055	0.0	9.0	9.0	6.71
and	15.0	30.0	15.0	4.83
MGAD054	16.0	30.0	14.0	0.57
MGAD053	NSA
MGAD052	0.0	7.0	7.0	1.46
MGAD051	NSA...