This explains how to create a list template in SharePoint Foundation.

1. You will need to start by navigating to your SharePoint URL. ( Followed by logging into your SharePoint site with the administrative credentials.  

2. In the upper LEFT hand corner select Site Actions and select More Options.


3. Select Custom List from the Custom List options.


4. Fill out the form accordingly and select Create.

5. Now Fill out the template accordingly, and in the upper right (Ribbon) click on List Settings.


6. Now under Permissions And Management, click on Save List As Template.

7.  Now Fill out the form accordingly and select Create.

NOTE: Your new template list will be displayed under the Custom Lists options. The template may be edited by navigating to the Site Settings, and then under the Galleries options.