February 7, 2013
Vancouver, BC (February 7, 2013) - Foran Mining Corporation
(TSX.V: FOM) (“Foran” or the “Company”) is pleased to announce the appointment of Mr. Marian (Mike) Koziol, P.Geo., as a Technical Consultant to the Company.
Mr. Koziol is an experienced and highly successful geologist, with over 30 years in the mining and exploration industry and a number of Canadian base and precious metal discoveries to his credit, including the McIlvenna Bay deposit (“McIlvenna Bay” or the “Deposit”). Mr. Koziol is a member of the Association of Professional Geoscientists of Ontario and the Association of Professional Engineers of Ontario and has served as the President and a Director of Alto Ventures Ltd. since 2004. Previously, he held technical positions with the Saskatchewan Mining Development Corporation and subsequently Cameco Gold Inc. from 1978 to 2002.
Patrick Soares, President and CEO of Foran commented: “We are happy to have Mike join Foran as a Technical Consultant. He brings a depth of geological experience to the Company, including a detailed knowledge of the discovery of McIlvenna Bay, the geology and exploration history of the area and known mineral occurrences around the Deposit.” Mr. Soares continued, “We look forward to having Mike as part of our technical team, in particular at this exciting time as we begin the winter 2013 exploration drilling of our highly prospective landholdings around McIlvenna Bay.”About Foran Mining
Foran is a diversified exploration and development company with projects in the Flin Flon Mining Belt. The Company’s flagship McIlvenna Bay property is located in east central Saskatchewan, 65 km west of Flin Flon, Manitoba and contains McIlvenna Bay, one of the largest undeveloped volcanogenic massive sulphide (“VMS”) deposits in Canada.
For additional information on McIlvenna Bay, see the report entitled “Technical Report on the McIlvenna Bay Project, Saskatchewan, Canada” dated December 9, 2011 at www.sedar.com
. Roger March, VP Project Exploration for Foran and a Qualified Person within the meaning of National Instrument 43-101 has reviewed and approved the technical information in this release.
Foran trades on the TSX.V under the symbol “FOM”. For Additional Information Please Contact Foran Mining Corporation:
President & CEO
409 Granville Street, Suite 904
Vancouver, BC, Canada, V6C 1T2
VP, Corporate Development
120 Adelaide Street West, Suite 2500
Toronto, ON, Canada, M5H 1T1
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.Forward Looking StatementsThis news release contains forward-looking statements. These statements are based on information currently available to the Company and the Company provides no assurance that actual results will meet management’s expectations. Forward-looking statements include estimates and statements that describe the Company’s future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as “believes”, “anticipates”, “expects”, “estimates”, “may”, “could”, “would”, “will”, or “plan”. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results relating to, among other things, results of exploration, project development, reclamation and capital costs of the Company’s mineral properties, and the Company’s financial condition and prospects, could differ materially from those currently anticipated in such statements for many reasons such as: changes in general economic conditions and conditions in the financial markets; changes in demand and prices for minerals; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; technological and operational difficulties encountered in connection with the activities of the Company; and other matters discussed in this news release. This list is not exhaustive of the factors that may affect any of the Company’s forward-looking statements. These and other factors should be considered carefully and readers should not place undue reliance on the Company’s forward-looking statements. The Company does not undertake to update any forward-looking statement that may be made from time to time by the Company or on its behalf, except in accordance with applicable securities laws.
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