FDN Birch Hill Gold Corporation

Foundation Resources Inc. (TSX VENTURE:FDN) - 

Key Point Summary:



--  5.56 g/t gold over 3.50 metres and 4.81 g/t gold over 2.0 metres
    intersected at the Sanders and East zones, respectively, in drill hole
    C-11-73 

--  2.18 g/t gold over 2.45 metres at the Sanders Zone in drill hole C-11-74

--  1.70 g/t gold over 3.50 metres at the Sanders Zone in drill hole C-11-72



Foundation Resources Inc. ("Foundation") and Alto Ventures Ltd. (TSX
VENTURE:ATV) ("Alto") are pleased to announce the results of three more drill
holes from the Sanders and East zones of the East Coldstream Gold Deposit
("Deposit"), Northwestern Ontario. These completed holes are part of a
6,000-metre drill program comprised of two main objectives: A) expanding the
Deposit both laterally and down-plunge, and B) further exploring and developing
the high-grade gold discovery (8.39 g/t gold over 11.0m - News Release dated
March 22, 2011) as a result of a successful 2011 winter drilling program at Iris
Lake. The Iris Lake discovery is located approximately 1.5 kilometres north of
the East Coldstream Deposit. Foundation is the operator of this program and owns
60% interest in the Property. Alto owns the remaining 40%. 




Table of Significant Gold Assays                                          
                                                                          
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                                From          To     Width(i)       Gold(i)
Drill Hole          Zone     (metres)    (metres)    (metrea) (grams/tonne)
--------------------------------------------------------------------------
C-11-72          Sanders      266.85      273.50        6.65          1.15
--------------------------------------------------------------------------
including                     270.00      273.50        3.50          1.70
--------------------------------------------------------------------------
                                                                          
--------------------------------------------------------------------------
C-11-73          Sanders       48.00       77.00       29.00          0.65
--------------------------------------------------------------------------
Including                      48.00       53.20        5.20          2.22
--------------------------------------------------------------------------
Including                      50.00       52.00        2.00          4.81
--------------------------------------------------------------------------
                    East      242.50      247.00        4.50          4.42
--------------------------------------------------------------------------
Including                     242.50      246.00        3.50          5.56
--------------------------------------------------------------------------
                                                                          
--------------------------------------------------------------------------
C-11-74          Sanders      117.55      137.00       19.45          0.53
--------------------------------------------------------------------------
including                     120.55      123.00        2.45          2.18
--------------------------------------------------------------------------
(i) Mineralized zones generally start at 0.1 g/t gold and assay averages 
    may include minimal intervals of waste material. No top cuts of assays
    were used.                                                          



All intervals are represented as down-hole core lengths with true widths
estimated at 70 to 75 percent.


All three drill holes were designed to test the down-plunge extensions of the
Sanders and East zones which are two of the four gold zones comprising the 1.5
kilometre strike-length of the East Coldstream Deposit. Drill holes C-11-73 and
74 tested the eastern edge of the East Zone at vertical depths of 160 and 210
metres, respectively. These holes also tested the western down dip extension of
the Sanders Zone at their respective vertical depths of 50 and 100 metres. Drill
hole C-11-73 intersected a 29-metre-wide zone averaging 0.65 g/t gold, including
2.22 g/t gold and 4.81 g/t gold over 5.20 and 2.0 metres, respectively, in the
Sanders Zone. This hole also intersected a 4.50-metre wide mineralized intercept
grading 4.42 g/t gold in the East Zone. A 19.45-metre wide zone averaging 0.53
g/t gold including 2.18 g/t gold over 2.45 metres was intersected by drill hole
C-11-74 in the Sanders Zone. Drill hole C-11-72 which tested the down-plunge
extension of the eastern edge of the Sanders Zone intersected 1.15 g/t gold over
6.65 metres, including 1.70 g/t gold over 3.50-metres. 


Results of these and other drill holes from this 2011 drill program will be
added to NI 43-101 resource estimates on the Deposit currently being calculated
by Wardrop, a Tetra Tech company.


Quality Assurance/Quality Control (QA/QC)

Foundation has implemented a quality control (QA/QC) program which includes the
use of commercially produced standards and blanks. Samples of split NQ core are
transported by Company personnel to the sample preparation lab of ALS Chemex
Laboratory in Thunder Bay where they were crushed and a 1000-gram pulp was
prepared. The pulp was then shipped to ALS Chemex Laboratory in North Vancouver,
B.C. for analyses. The gold assaying method uses a standard Fire Assay with
ICP-AES technique on a 30-gram pulp material taken from a 1000g split from the
submitted sample. For more details of QA/QC procedures, please refer to
Foundations July 21, 2010 news release. 


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


About the East Coldstream Deposit

The East Coldstream 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. 


About the Coldstream Property

The 6,234-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. 


For more details regarding the Coldstream 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, President & Director

This 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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