February 28, 2011
Saskatoon, SK (February 28, 2011) — Foran Mining Corporation (TSX Venture FOM) announces that it has granted 400,000 incentive stock options under its 2010 Stock Option Plan to new directors at an exercise price of $1.25 per share with a vesting period over 2 years. These options will expire February 27, 2016.
“ON BEHALF OF THE BOARD OF DIRECTORS”
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 with a mineral resource of 6.7 million tonnes of 0.87% Copper, 6.51% Zinc, and 26.0 grams Silver in the Indicated Category and an Inferred Resource of 6 million tonnes running 0.83% Copper, 5.89% Zinc and 24.8 grams Silver. (Outlined in a NI-43-101 report in November 2006 by Scott Wilson Roscoe Postle and Associates Inc.)
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