Foundation Resources Inc. announced the results from the first two 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.

Key points Summary:

- 13.55 g/t gold over 3.0m intersected within a 27.28 m wide zone averaging 4.88 g/t gold

- Multiple higher-grade sections: 11.80 g/t gold over 1.20 m, within a 47.25 m wide zone averaging 1.30 g/t gold

- Results still pending from remaining seven completed drill holes