Click to enlarge Foran's 4,066 hectare Balsam Property is located in northeastern Saskatchewan, approximately 55 kilometres west of Flin Flon and 8 kilometres southeast of Foran's McIlvenna Bay deposit. The property forms a contiguous claim block with Foran's 100% owned McIlvenna Bay and Hanson Lake Projects.

There is a 6% NPI and a 2% NSR on Foran's production at Balsam, and Teck Resources holds a back-in right.

Exploration in 1985 by a Granges-Troymin Joint Venture led to the discovery of the Balsam zone, a lens of VMS mineralization located under Paleozoic cover. Drilling of the zone returned 2.80% copper, 3.30% zinc and 3.0 g/t gold over a downhole length of 8.0 metres. This is the same stratigraphic package that hosts VMS mineralization at McIlvenna Bay.

As follow-up to drilling and geophysical surveys by previous operators, Foran commissioned a high-resolution, deep-penetrating VTEM Time Domain Electromagnetic ("EM") survey over portions of the property in 2007. Foran has recently commissioned a reinterpretation of the results of this survey; results of this reinterpretation are pending. The Company anticipates that this work will generate drill targets at Balsam.

In 2010-2011, Foran engaged Equity Exploration Consultants for the review and compilation of historic data on Balsam and several other Foran properties.