FDN Birch Hill Gold Corporation

Foundation Resources Inc. (TSX VENTURE:FDN)(FRANKFURT:52F) ("Foundation" or "the
Company") is pleased to announce encouraging results from a recently completed
helicopter-borne electromagnetic ("HELI-TEM") survey on its massive sulphide
Mitchell Property ("Property") located in the Red Lake Mining District in
Northwestern Ontario. The Property is located 10 km southwest of the former
South Bay Mine (1.6 Mt mined at 2.5% copper, 14% zinc and 120 g/t silver)(i) and
80 kilometres east of the Town of Red Lake.


"We are very pleased with the successful completion and the results of the
geophysical electromagnetic survey which has delineated two prominent
'bulls-eye' conductive anomalies located in the most western and eastern parts
of the Property. Modeling of these anomalies has commenced which will provide
the estimates of size and orientation to help direct follow-up diamond drilling
program," commented Ike Osmani, President and Director of the Foundation.


HELI-TEM is the world's most powerful commercially available helicopter-borne
time-domain electromagnetic system (EM), ensuring the greatest depth of
exploration possible for any airborne EM system. The HELI-TEM survey on the
Property was flown and completed in September 2011. It has detected two large
'bulls-eye' electromagnetic anomalies 'A' and 'B' of potential base
metal-sulphide (copper-zinc-silver) bodies located, respectively, in the western
and eastern parts of the Property (Figure 1). Anomaly 'A' is subcircular in
shape, which measures about 1.0 kilometre in both north-south and eastwest
directions. Anomaly 'B', which trends north-south, is over 1.6 kilometre long
and 200 to 400 me wide. These 2 anomalies are located approximately 3.0
kilometres apart from each other.


To view Figure 1, click on the following link:
http://media3.marketwire.com/docs/fdn220m2.jpg


About the Mitchell Property

The 2,256-hectare Mitchell Property is located approximately 10 kilometres
southwest of the former South Bay Mine (1.6 Mt mined @2.5% copper, 14% zinc and
120 g/t silver), which is approximately 80 kilometres east of the town of Red
Lake in northwestern Ontario. Access to the property is via the South Bay Road
extending east off the Highway 105 from the town of Ear Falls. An electrical
grid passes through the southern claims of the Property. 


The Property occurs within the southern Birch-Uchi Greenstone Belt in the Uchi
Subprovince of the Superior Province of the Canadian Shield and contains
felsic-intermediate metavolcanic units similar to those found at the South Bay
Mine. A few historical holes in the late 1960s drilled in the Anomaly 'A' area
intersected volcanogenic massive sulphide or VMS-type exhalite horizons. Up to
5.5 m wide semi-massive to massive and 23.0 m wide stringer sulphide
mineralization consisting of pyrite-pyrrhotite-chalcopyrite-sphalerite mineral
assemblage has been reported. This drilling was shallow and mineralization
remains untested along strike, down plunge and at depth below 100-metre
vertical. The second electromagnetic anomaly ('B'), located 3.0 kilometres east
of the Anomaly 'A', is largely untested by drilling. The results of the current
HELI-TEM survey suggest thorough drill testing of Anomaly 'B' is warranted. Only
one historical hole that was drilled in the Anomaly 'B' area intersected 5.0 m
of stringer and massive pyrite-pyrrhotite-chalcopyrite-sphalerite mineralization
along the felsic-mafic metavolcanic contact. 


(i) The geology and assay results quoted above are from various historical
reports, both published and unpublished, and have not been verified by
Foundation. 


About Foundation Resources Inc.

Foundation Resources is a mineral exploration company focused on the exploration
and development of its flagship Coldstream Gold Project 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 (763,276 ounces gold inferred and 96,400 ounces gold indicated) on the
Osmani deposit is one of five highly prospective gold targets that Foundation
has within this 16 km long Coldstream 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.


Ike Osmani, M.Sc., P.Geo., the President and Director of Foundation Resources,
is the Qualified Person (QP) as defined in National Instrument 43-101 -
Standards of Disclosure for Mineral Projects and is responsible for the
preparation of all technical information contained in this news release.


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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