July 27, 2011
Vancouver, BC (July 27, 2011) - Foran Mining Corporation
(TSX.V: FOM) (“Foran” or the “Company”) today announced that the Company will hold its Annual and Special Meeting of Shareholders at 2 pm (Vancouver Time) on Thursday, August 18, 2011. The meeting will be held at 409 Granville Street, Suite 451, Vancouver, British Columbia.
Shareholders of record as of July 12, 2011 will be entitled to vote on the election of directors, appointment of auditors, and approval of an updated stock option plan. The information circular with respect to the meeting is available at www.sedar.com
.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 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 a current NI 43-101 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 the massive and semi-massive sulphide zones. For the CSZ, 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 NI 43-101 technical report, dated November 27, 2006 and authored by Scott Wilson RPA. The report is available on SEDAR at www.sedar.com
or on the Company’s website at www.foranmining.com
. On July 20, 2011, the Company announced the commissioning of an updated independent mineral resource estimate for McIlvenna Bay.
Foran trades on the TSX.V under the symbol “FOM”.For Additional Information Please Contact
President & CEO
VP, Corporate Development
Foran Mining Corporation
409 Granville Street, Suite 904
Vancouver, BC, Canada, V6T 1T2
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.
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