Edmonton, Alberta--(Newsfile Corp. - May 12, 2021) - Founders Metals Inc. (TSXV: FDR) (the "Company") is pleased to announce that it has continued its corporate jurisdiction from the federal jurisdiction under the Canada Business Corporations Act to British Columbia under the Business Corporations Act (British Columbia) (the "Continuation").

The Continuation was approved by the shareholders of the Company at the annual general and special meeting of the shareholders held on April 30, 2021 (the "Meeting"). The principal effects of the Continuation are set out in detail in the information circular for the Meeting dated March 29, 2021. The information circular and charter documents for the Continuation are available on the Company's SEDAR profile at www.sedar.com.

About Founders Metals Inc.

Founders Metals Inc. is a Canadian mineral exploration company focused on the acquisition and development of exploration projects of significant scale and is currently actively developing the Elmtree Gold Project in New Brunswick. Management has a substantial record of success in capitalizing on opportunity, overcoming challenges, and building shareholder value.

Founders is part of the Metals Group of companies, managed by an award-winning team of professionals who stand for technical excellence, painstaking project selection and uncompromising corporate governance, with a proven ability to capitalize on investment opportunities and deliver shareholder returns.

www.metalsgroup.com

ON BEHALF OF THE BOARD

/s/ "John Williamson"
President & CEO

For further information, please contact:
Nick Stajduhar, Director
nicks@fdrmetals.com
Tel: (780) 701-3216

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the (TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address exploration drilling, exploitation activities and events or developments that the Company expects are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continuity of mineralization, uncertainties related to the ability to obtain necessary permits, licenses and title and delays due to third party opposition, changes in government policies regarding mining and natural resource exploration and exploitation, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. For more information on the Company, investors should review the Company's continuous disclosure filings that are available at www.sedar.com.

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