June 20, 2011
Vancouver, BC (June 20, 2011) - Foran Mining Corporation
(TSX.V: FOM) (“Foran” or the “Company”) is pleased to announce relocation of the Company’s Head Office to Vancouver, BC and the launch of a new corporate website atwww.foranmining.com
Patrick Soares, President and CEO of Foran commented: “The relocation of Foran’s Head Office to Vancouver reflects the recent changes in the management team, most of whom are based in Vancouver. Our flagship project, McIlvenna Bay, is located in Saskatchewan. We remain a company with strong roots in Saskatchewan and we will continue to have an office in Saskatoon. Mr. Soares continued “I invite our shareholders and the broader investment community to visit our new website, which is our new platform for providing information on Foran, the McIlvenna Bay project and our portfolio of projects throughout the Flin Flon Belt.”About Foran Mining
Foran is a diversified exploration and development company with projects in the Flin Flon mining belt. The Company’s flagship project is McIlvenna Bay, a Volcanogenic Massive Sulphide (“VMS”) deposit located in east central Saskatchewan, 60 kilometres west of Flin Flon, Manitoba.
McIlvenna Bay is one of the largest undeveloped VMS deposits in Canada, with an indicated mineral resource of 6.7 million tonnes grading 0.87% copper, 6.51% zinc and 26.0 g/t silver and a further 6.0 million tonnes grading 0.83% copper, 5.89% zinc and 24.8 g/t silver in the inferred category, based on copper and zinc prices of US$1.50/lb. and US$0.70/lb., respectively, and recoveries of 81% for copper and 72% for zinc. The resource estimate calculated NSR values based on projected mining and milling costs and used an NSR cut-off of $50/tonne. Cut-off grades of 1.5% copper and 4.0% zinc were used for massive and semi-massive sulphide zones. For the Copper Stockwork Zone, the cut-off was based on geological boundaries, entire intersections, and a minimum width of three metres, rather than on a specific cut-off grade. This resource estimate is presented in an independent National Instrument 43-101 technical report, dated November 27, 2006 and authored by Scott Wilson Roscoe Postle and Associates Inc. The report is available on SEDAR at www.sedar.com
or on the Company’s website atwww.foranmining.com
Foran trades on the TSX.V under the symbol “FOM”.For Additional Information Please Contact
President and CEO
Foran Mining Corporation firstname.lastname@example.org
VP, Corporate Development
Foran Mining Corporationfchilde@foranmining.com
409 Granville Street, Suite 904Neither 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.
Vancouver, BC, Canada
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