Foundation Resources Inc.

Foundation Resources Inc.

June 26, 2009 15:07 ET

Foundation Arranges $105,000 Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 26, 2009) - Foundation Resources Inc. ("FDN" or the "Company") (TSX VENTURE:FDN)(CUSIP#:350476107)(ISIN:CA3504761071) is pleased to announce a non-brokered private placement of up to 700,000 units of the company at a price of $0.15 per unit for gross proceeds of up to $105,000. Each unit comprises of one common share and one-half of a warrant, with each warrant exercisable into a common share for a period of one year at an exercise price of $0.15. The securities offered will be subject to a four month hold period. A finder's fee, in accordance with the policies of the TSX Venture Exchange, will be payable in cash, units, or a combination of cash and units.

The proceeds will be used general corporate development purposes.

Completion of the offering is subject to receipt of TSX Venture Exchange and all other regulatory approvals.


Foundation is a mineral exploration company focused on exploration and development of high potential gold zones on the Coldstream and Burchell properties. The properties are located in the Western Superior geological province of the Canadian Shield which is noted for hosting prolific gold deposits in Ontario, Canada.

On behalf of the board,

John Hiner, President

Statements in this press release other than purely historical information, historical estimates should not be relied upon, including statements relating to the Company's future plans and objectives or expected results, are forward-looking statements. News release contains certain "Forward-Looking Statements" within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended. Forward-looking statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in the Company's business, including risks inherent in resource exploration and development. As a result, actual results may vary materially from those described in the forward-looking statements.

This news release does not constitute an offer to sell or a solicitation of an offer to sell any of securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

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

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