Apr. 6, 2010 (TheNewswire.ca) --

Vancouver B.C. April 6, 2010: Foundation Resources Inc. (TSXV:FDN) (FDN: TSX-V) is pleased to announce the results from three more holes of the recently completed 2010 winter drilling program on the East Coldstream Deposit (the "Deposit") located on its Coldstream Property in Ontario. Foundation has an option to earn up to a 70% interest in the Coldstream property from Alto Ventures Ltd. (TSXV:ATV)

Key points Summary:

-111.3m wide zone averaging 1.12 g/t gold: includes 3.41 g/t gold over 20.85m including 8.68 g/t gold over 6.30m

-67.95m wide zone averaging 1.10 g/t gold: includes 9.33 g/t gold over 5.05m

-Results still pending from remaining 4 completed drill holes

Table of Significant Gold Assays

Drill Hole                    From(metres)   To(metres)   Width(metres)   Gold(grams /tonne)   C-10-16 (Main Zone)           133.80         245.10       111.30          1.12                 Including:                    177.40         198.25       20.85           3.41                 which also        includes:   187.00         193.30       6.30            8.68                                                                                                                C-10-17 (Main Zone)           48.02          90.42        42.40           0.68                 Including:                    53.41          54.06        0.65            7.58                                               78.24          81.38        3.14            2.50                                                                                                                C-10-18 (North Zone)          89.05          157.00       67.95           1.10                 Including:                    131.95         137.00       5.05            9.33                                                                                                                (Main Zone)                   208.65         231.15       22.50           0.88                 Including:                    208.65         216.25       7.60            1.48                                               227.70         231.15       3.45            2.21                 

Of the three holes, two were drilled (C-10-16 and C-10-17) at the Main Zone and the third (C-10-18) was drilled to intersect both the North and Main zones. All three drill holes intersected wide zones of gold mineralization, which includes multiple higher grade intersections. Gold in these drill holes is associated with up to 10 percent disseminated to blebby pyrite, and occurs within strongly sheared and hydrothermally altered (silica, albite, sericite, magnetite and hematite) zone of mafic to intermediate metavolcanics and quartz-feldspar porphyry intrusive rocks.

Drill hole C-10-16 was drilled at 155°/-59º to a depth of 276.46 metres, C-10-17 drilled at 157º/-47º to a depth of 160.63 metres, and C-10-18 drilled at 160º/-58º to a depth of 285.60 metres. The holes are located approximately 100m southwest, 100m south and 240 m west-southwest, respectively , to an earlier reported drill hole C-10-14 (News Release March 29, 2010). All intervals are represented as down hole core lengths, with the true widths estimated between 70 - 75 percent of core length. Assay results for the remaining four holes completed in the 2010 program will be released as they become available.

2010 Diamond Drilling:

The 9-hole diamond-drilling program, totaling 2,090 metres, was intended to in-fill gaps between the widely spaced historic drill holes to confirm and expand non-NI 43-101 compliant historical resources of 5.1 million tonnes grading 1.43 g/t gold (234,000 contained ounces of gold) calculated in 1991 by Noranda in three zones: the North, Main and East zones. Foundation is not treating the historical estimate as current mineral resources, as defined in NI 43-101, and thus the historical estimate should not be relied upon. Gold mineralization starts on surface and this resource estimate was based on relatively shallow drilling. An additional zone, the Sanders Zone, is situated east of this historical resource, and was drill-delineated by Lacana Mining Corp. and Alto Ventures Inc. in 1989 and 2006, respectively. Foundation tested the Sanders Zone as part of the current drilling program and will release results as they become available. The historical resource does not include the gold mineralization at the Sanders Zone, which could potentially increase the gold resources of the Deposit. The results of 2010 drill holes received to date have demonstrated greater widths at depth in the deposit, potentially providing a significant addition to the historic resource.

President Paul Chung commented, "These results support our belief that the mineralization continues at depth and down plunge from the previous drilling by Noranda, and fits well with our goal of confirmation and expansion of the historic non 43-101 compliant resource."