Foundation Resources announces that on November 14, 2012, Foundation made a non-binding offer to the board of directors at Solid Gold Resources. The Company offered to acquire all of the outstanding shares of SLD on the basis of, 0.833 shares of Foundation for each share of SLD. At the time of the FDN Offer the proposed terms represented a premium [...]
Foundation Resources and Sheltered Oak and their respective Board of Directors are pleased to announce they have entered into non-binding letter agreement with Sheltered Oak to negotiate a proposed business combination. Upon completion of the Proposed Transaction, the combined entity will be a mid-sized company with expansive domestic exploration [...]
Foundation Resources announces that its Board of Directors has agreed to extend the expiry date of an aggregate 5,136,250 outstanding share purchase warrants. The subject warrants were originally issued on October 31, 2011 with an expiry date of one year. The warrant extension will be for a new expiry date of October 31, 2014. The warrant exercise [...]
Foundation Resources and the Board of Directors are pleased to announce that Mr. Fern Turner has been appointed to Vice President of Business Development. Mr. Turner has over 10 years of experience in Corporate Communications and Corporate Finance within the mineral exploration industry. He has advised management on corporate finance, public [...]
Foundation Resources and the Board of Directors are pleased to announce the granting of 900,000 incentive stock options to Officers and Directors. The options are exercisable at $0.10 per share for a period of five years, subject to regulatory approval. The options are subject to a four-month hold period.
Foundation and the Board of Directors are pleased to announce the appointment of Mr. Ian Lambert as Chief Executive Officer and Director for the Company effective immediately. Mr. Paul Chung, the former CEO, will replace Mr. John Hiner as Chairman of the Board with Mr. Hiner remaining on as a Director. Mr. Osmani, President, stated, "We are very [...]
Foundation Resources is pleased to announce it has entered into an amending agreement with Alto Ventures concerning the consolidation of its ownership in the Coldstream property in Ontario. As consideration for Alto's 40% interest in the Property, the Company was to pay $2,500,000 payable through the issuance of 10,000,000 common shares at a price [...]
Foundation Resources is pleased to announce that it has signed a Letter of Intent with Open Gold whereby Open Gold can acquire a 100% interest in the Mitchell Massive Sulfide Project located in the Red Lake District of Northwestern Ontario by making cash payments totalling $120,000, issuing 1.2 million shares to Foundation and incurring $1 million [...]
Foundation Resources is pleased to announce the results fromthe final eight2012 exploratory holes drilled in the Span Lake area of the Coldstream Property, northwestern Ontario. Two of the eight holes were drilled within the southwestern, whereas the remaining six were drilled in the north-central (IP-3 anomaly target) Span Lake areas of the [...]
Foundation Resources is pleased to announce the results from three more exploratory holes drilled within the southeastern claims of the Span Lake area of the Coldstream Property, northwestern Ontario. These holes were drilled to test the IP anomaly targets (IP-2) and potential continuity of the QES Zone extending from adjacent Moss Lake Gold [...]
Drill Program Highlights:- 21.10 g/t gold over 0.50 metres within a 10.00-metre-wide mineralized zone averaging 2.22 g/t gold: drill hole SL-11-11- 31.39 g/t gold over 1.30 metres, including 80.30 g/t gold over 0.50 metre: drill hole SL-11-12
Foundation Resources is pleased to announce it has successfully intersected new gold mineralization at Goldie Lake, located approximately 1.0 kilometre south of the Osmani Gold Deposit which hosts a NI 43-101 resource estimate of 763,276 ounces gold in the Inferred and 96,400 ounces gold (3.5 million tonnes at 0.85 g/t gold) in the Indicated [...]