FDN Birch Hill Gold Corporation

Foundation Resources Inc. (TSX VENTURE:FDN) - 

Highlights:



--  Completion of the East Coldstream Deposit NI 43-101 resource estimate
    (763,000 ounces gold Inferred and 96,400 ounces gold Indicated) 
--  Successful completion of the 2011 summer exploration program on the
    Coldstream Property 
--  Successful completion of an Airborne magnetic and Electromagnetic survey
    on the massive sulphide Mitchell property 
--  Planning to drill a minimum of 5000 metres in the fall/winter seasons to
    drill test new targets on the Coldstream Property 
--  IP geophysical survey is planned on the Burchell West target located
    over 6 km west of the East Coldstream Deposit



Foundation Resources Inc. ("Foundation" or the "Company") is pleased to provide
an exploration update on its two Ontario projects, Coldstream and Mitchell.
Foundation's President Ike Osmani states that "Despite the present commodity
price downtrend and uncertainty in current global market conditions, I would
like to reassure our shareholders and the investment community that the
Company's fundamentals are strong and our management and technical teams are
pressing ahead to create value in our key assets for our shareholders. We have
achieved important milestones this year and continue moving forward with the
same vigor and determination in further developing our assets."


On the 60% owned Coldstream Property, Foundation with joint venture partner Alto
Ventures (TSX VENTURE:ATV), recently completed over 6000 metres of drilling and
reported a NI 43-101 compliant resource estimate (763,000 ounces gold Inferred
and 96,4000 ounces gold Indicated) for the East Coldstream Deposit ("Deposit")
(News Release, September 20, 2011). This resource estimate does not include the
results of all the holes drilled this summer on the Deposit. Of the 6000 metres
drilled, 3,897 metres were drilled on the Deposit and the remaining 2,103 metres
were completed on the Iris Lake area where Foundation discovered high-grade gold
(8.39 g/t over 11.0 m) during the 2011 winter drilling program. Drill results
from five holes on the Deposit have already been reported (News Releases: July
16, 2011 and August 23, 2011) and the results of remaining holes will be
reported as soon as they become available.


A 2011-12 winter exploration program consisting of a minimum 5,000 metres of
diamond drilling on two new drill-ready targets, the Span Lake deposit and the
Goldie Zone, and an Induced Polarization (IP) geophysical survey on the Burchell
West target, located 6 kilometres west of the East Coldstream Deposit, is
planned. Construction of an IP grid is currently in progress.


On Foundation's wholly owned massive sulphide Mitchell Property (2,256 ha) in
the Red Lake Mining District, a reconnaissance lithogeochemical survey was
conducted this summer and a follow-up high resolution airborne magnetic and
electromagnetic survey has just been completed on the Property. The results of
the geophysical surveys will be followed up with appropriate geological methods.


Ike Osmani, M.Sc., P.Geo., the President of Foundation and the Qualified Person
for the Coldstream and Mitchell projects has reviewed and approved the technical
content of this news release.


For more details regarding the Coldstream or Mitchell Property, please visit our
website at www.foundationres.com.


About Foundation Resources Inc.

Foundation is a mineral exploration company focused on exploration and
development of gold and base metal properties in Canada and Mexico. Its flagship
Coldstream gold project in the Shebandowan greenstone belt and Mitchell base
metal property in the Birch-Uchi greenstone belt east of Red Lake occur within
the Western Superior geological province of the Canadian Shield, noted for
hosting prolific gold and base metal deposits in Ontario, Canada. The San Rafael
gold-silver property is located approximately 150 km northwest of Durango in the
Durango State, Mexico.


On behalf of the board,

Ike Osmani, M.Sc., P.Geo., President & Director

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.


CUSIP: # 350476107

ISIN CA3504761071

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