Founders Metals Bolsters Financing to C$20 Million

Founders Metals Corp. ("Founders Metals" or the "Company") (TSXV: FMD) (OTCQX: FMDTF) has announced an increase in its previously announced bought deal financing to C$20 million. This strategic move reflects investor interest, favorable market conditions, and the Company's compelling growth plans.

The increased financing, led by a syndicate of underwriters, is supported by a significant strategic investment from the Lundin Group, which will become a 19.9% shareholder. This backing underscores the Lundin Group's confidence in Founders Metals' prospects and signals a vote of confidence in the Company's growth strategy.

Founders Metals plans to allocate the additional C$20 million to advance its Koné Gold Project towards a construction decision and conduct further exploration on nearby targets. This funding will enable the Company to accelerate its development timeline and bring its high-quality gold assets to production more quickly.

The increased funding also impacts Founders Metals' valuation and attractiveness to potential investors. With the Lundin Group's strategic investment and the Company's strong project pipeline, Founders Metals is well-positioned to create value for shareholders and become a leading multi-asset gold producer focused on Africa.

The Lundin Group's strategic investment and increased stake will influence Founders Metals' decision-making and growth strategy. With the Lundin Group's extensive experience in the mining sector, Founders Metals can leverage this expertise to unlock significant value for all stakeholders.

In conclusion, Founders Metals' increased financing to C$20 million demonstrates the Company's strong investor interest, favorable market conditions, and compelling growth plans. With the strategic backing of the Lundin Group and a robust project pipeline, Founders Metals is poised for success in the African gold mining landscape.