February 24, 2011
Saskatoon, SK (February 24, 2011) — Foran Mining Corporation
(TSX.V: FOM) (“Foran” or the “Company”) is pleased to announce that Sharon Dowdall and Maurice Tagami have joined its Board of Directors.Sharon Dowdall
has over 30 years experience in the legal field including experience as a practicing lawyer and as an executive in the resource sector. Sharon was Chief Legal Officer and Corporate Secretary of Franco-Nevada Corporation from December 2007 until May 2010. She currently is a consultant to Franco-Nevada, serving as VP Special Projects. Prior to the initial public offering of Franco-Nevada she was associated for more than 20 years with the royalty portfolio assets of Franco-Nevada and served as Vice President of Newmont Capital from 2002-2007. Sharon was Vice President, General Counsel and Secretary of Franco-Nevada Mining Company of Canada Limited from 1999-2002 and Corporate Secretary since 1989. Prior to 1999, she was a Partner at Smith Lyons LLP, a law firm, where she advised resource clients both private and public in the resource sector on mining, securities, finance, corporate and commercial matters. Ms. Dowdall currently serves as a director of Olivut Resources Ltd. and holds a B.A. (Hons.) University of Calgary and an LL.B, Osgoode Hall, York University.Maurice Tagami
has a degree from the University of British Columbia in metallurgical engineering, is a registered professional engineer in the province of British Columbia and has over 28 years experience in mine development and operations. During his career, Maurice has played a significant metallurgical and project management role in numerous open pit, underground and heap leach projects in North and South America, Australia, Papua New Guinea, Africa, Europe and Asia and has actively participated in several plant commissioning and start-up periods. Recently, he served on the Board of Directors of Brett Resources Inc. Maurice is currently President and CEO and a director of Keegan Resources Inc. an advanced gold exploration and development company that has outlined a sizeable gold resource in Ghana.
“We are pleased that mining executives of the caliber of Sharon and Maurice have agreed to join the Foran board and assist us in advancing McIlvenna Bay, which we consider one of Canada’s best undeveloped VMS deposits. Maurice and Sharon have demonstrated their ability to add shareholder value in other companies in which they are involved, and understand the steps required to develop McIlvenna Bay,” said Patrick Soares President and CEO of Foran Mining Corporation
Mr. Brent Schuler and Jeff McGill have resigned from the Foran Board to make room for the new directors. Their service to the Company since March 2009, are very much appreciated by the Board, management and major shareholders. “Their integrity, honesty and sound business acumen was exactly what was needed to stabilize and begin the turnaround of Foran.” said Foran’s Chairman Darren Morcombe. Brent and Jeff continue to support of the Company. The Company is grateful to have their support and knowledge of the local industry to call upon.
Foran Mining Corporation
Foran is a diversified exploration company with exploration properties in the Flin Flon mining belt. The Company’s flagship project is McIlvenna Bay, a VMS Deposit located 60 kilometres west of Flin Flon, Manitoba. The McIlvenna Bay Deposit is one of the largest undeveloped VMS deposits in the region.
“ON BEHALF OF THE BOARD OF DIRECTORS”
Patrick Soares, P.Geo
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Certain statements contained in this news release may contain forward-looking information within the meaning of Canadian securities laws. Such forward-looking information is identified by words such as “estimates”, “intends”, “expects”, “believes”, “may”, “will” and include, without limitation, statements regarding the company’s plan of business operations (including plans for progressing assets), estimates regarding mineral resources, projections regarding mineralization and projected expenditures. There can be no assurance that such statements will prove to be accurate; actual results and future events could differ materially from such statements. Factors that could cause actual results to differ materially include, among others, metal prices, risks inherent in the mining industry, financing risks, labour risks, uncertainty of mineral resource estimates, equipment and supply risks, title disputes, regulatory risks and environmental concerns. Most of these factors are outside the control of the company. Investors are cautioned not to put undue reliance on forward-looking information. Except as otherwise required by applicable securities statutes or regulation, the company expressly disclaims any intent or obligation to update publicly forward-looking information, whether as a result of new information, future events or otherwise.
Back to the News page