FDN Birch Hill Gold Corporation

Foundation Resources Inc. (TSX VENTURE:FDN)(FRANKFURT:S52) ("Foundation") is
pleased to announce that it has received positive gold metallurgical results
from the Initial Scoping Metallurgical Study on its Osmani Gold Deposit
(formerly known as the East Coldstream Deposit) of the Coldstream Property in
northwestern Ontario (Figure 1). The Osmani Gold Deposit ("Deposit"), which is
currently one of the five known significant gold mineralization areas within the
Coldstream property, has a NI 43-101 resource estimate of 763,276 ounces gold
(30.5 million tonnes at 0.78 g/t gold) in the Inferred and 96,400 ounces gold
(3.5 million tonnes at 0.85 g/t gold) in the Indicated categories. The
metallurgical test work was carried out by SGS Canada on a 60 kilogram master
composite that was created using four individual core sample batches taken from
Deposit's two gold horizons, the EC-1 (formerly Main and Sanders zones) and EC-2
(formerly North and East zones). Metallurgical test results of the master
composite shows the best recovery is achieved using a combination of gravity and
leaching, yielding gold ("Au") recovery of 96.1%.


Four individual sample batches, each weighing 20 kilograms, were placed in four
securely tied rice bags and shipped to SGS Canada in Vancouver where a portion
of each was combined into one master composite sample for the test program. Each
of the four sample batches were also subjected to variability metallurgical
testing. The direct head grade assay obtained from the master composite is 3.28
g/t Au.


Following tests were conducted on the master composite sample: two gravity
separation tests, three whole ore rougher kinetics floatation tests, one whole
ore open circuit floatation test, one gravity tails rougher floatation test, one
gravity tails leaching tests, four variability rougher kinetics floatation tests
and four variability leaching tests. The tests generating the highest gold
recovery from the master composite were gravity tests (G2), rougher floatation
tests (F1) and the leach tests (L1). Highlights of these tests are presented in
Table 1.




Table 1. Metallurgical Test Summary                                        
----------------------------------------------------------------------------
                               Grade    Recovery                           
Test                      (g/t, mg/L)         (%) Product
----------------------------------------------------------------------------
Gravity (G2)                     655        24.8  Mozley Concentrate
----------------------------------------------------------------------------
                                                  Rougher Floatation
Floatation (F1)                 46.7        94.4  Concentrate
----------------------------------------------------------------------------
                                                  Second Clearer Floatation
Floatation (F4)                  124        81.3  Concentrate
----------------------------------------------------------------------------
                                                  48 Hour Pregnant Leach
Leach (L1)                      2.28        95.6  Solution
----------------------------------------------------------------------------
Gravity (G2) + Floatation                         Mozley Concentrate+Rougher
 (F5)                      655, 33.7        94.8  Floatation Concentrate
----------------------------------------------------------------------------
Gravity (G2) + Leaching                           Mozley Concentrate+48 Hour
 (L3)                      655, 1.38        96.1  Pregnant Leach Solution
----------------------------------------------------------------------------



To view Figure 1, please click the following link:
http://www.foundationres.com/i/maps/FDN-Coldstream-Gold-Trend.jpg.


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


About the Osmani Gold Deposit

The Osmani Gold Deposit (formerly known as the East Coldstream Deposit) is one
of the most advanced gold targets on the Coldstream Property (Figure 1). Other
significant gold targets on the property are: the Iris, Span Lake, Goldie and
Burchell West prospects and deposits. The Osmani Gold Deposit is hosted within
mafic to intermediate metavolcanic rocks which have been intruded by
dike/sill-like bodies of quartz-feldspar porphyries and gabbros. All these rock
types have been variably altered (silica, hematite, carbonate, chlorite) and
deformed by east- to east-northeast striking North Coldstream Shear/Deformation
Zone. Gold is associated with 1 to 5 percent, fine-grained pyrite.


The Coldstream Property

The 6,410-hectare Coldstream Property is located along the Trans Canada Highway
115 km west of the City of Thunder Bay, Ontario. The area is road accessible and
has excellent infrastructure with a major power line and CN rail line passing
just north of the property. Skilled labour is readily available locally.


About Foundation Resources Inc.

Foundation Resources is a mineral exploration company focused on the exploration
and development of its flagship Osmani Gold Deposit (formerly known as the East
Coldstream Deposit) located in the Shebandowan Greenstone Belt, 115 Km North
West of Thunder Bay, Ontario and the Mitchell base metal property located within
the Red Lake Mining District in Ontario. The Company's recently announced
resource estimate of 860,000 ounces of gold on the Osmani Gold Deposit is one of
5 highly prospective gold targets that Foundation has within this 16 km gold
trend. In addition to its Canadian projects, the Company is also exploring the
San Rafael gold-silver property in Mexico which is located approximately 150 km
northwest of Durango.


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

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