Foran announces the appointment of Gilbert Lamarche as Vice-President, Technical Services

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VANCOUVER, BC, May 16, 2022 /CNW/ – Foran Mining Corporation (TSXV: FOM) (OTCQX: FMCXF) (“Foran” or the “Company”) is pleased to announce the appointment of Gilbert Lamarche as Vice President, Technical Services, effective immediately.

Foran Logo (CNW Group/Foran Mining Corporation)

Mr. Lamarche has over 20 years of experience in the mining industry in both technical services and operational capabilities. He is a seasoned leader who has managed large teams in multiple jurisdictions in Canada, including established operations and new projects. Prior to joining Foran, Mr. Lamarche was the Head of Mining/Milling Technical Services for Vale’s Canadian operations, which included the Ontario, Manitoba and Labrador sites. In this role, he was responsible for mine design and planning, geology, in-mine exploration, seismic hazard management, technical services delivery as well as technical support for factory. He was also the qualified person for MRMR disclosures and owner of mining standards for North Atlantic operations. In addition, he was responsible for deposition activities and geotechnical assurance of tailings dams at Canadian operations.

Mr. Lamarche also has valuable operational experience having served as Mine Manager at Vale’s Coleman Mine and Totten Mine, where he was also responsible for operational readiness during the transition from the project phase to a plant. operating. Prior to joining Vale in 2006, he was a mining engineering consultant for SRK in WalesUK after starting his career as an EIT at Kidd Mining Operations.

Gilbert is a registered professional engineer in the province of Ontario and holds a degree in Applied Science in Mining Engineering from Laurentian University.

Dave Bernier, Chief Operating Officer of Foran, said: “On behalf of the Foran team, I am very pleased to welcome Gilbert as Vice President, Technical Services. He is an experienced leader with a successful track record in building and operating base metal mines. in Canada. His balanced mix of technical and operational leadership fits perfectly within our team. Gilbert shares our vision to build, scale and grow production of critical items in a leading mining jurisdiction and we look forward to growing and reaching key milestones together. »

Concurrent with the appointment and pursuant to the Corporation’s long-term incentive plan, the Corporation’s Board of Directors granted 250,000 incentive stock options to Mr. Lamarche. The stock options are exercisable, subject to vesting conditions, over a period of five years at an exercise price of CA$2.02 per share.

FOR MORE INFORMATION :
Jonathan FrenchCFA
Director, Investor Relations
409 Granville Streetoffice 904
Vancouver, BC, CanadaV6C 1T2
[email protected]

About Foran Mining

Foran Mining is a copper-zinc-gold-silver exploration and development company, committed to supporting a greener future, empowering communities and creating circular economies that create value for all our stakeholders, everything preserving the environment. The project is located entirely within the traditional territory of the Peter Ballantyne Cree Nation. The Company also owns the Bigstone project, a resource development stage deposit located 25 km southwest of its McIlvenna Bay project.

McIlvenna Bay is a copper-zinc-gold-silver-rich VHMS deposit slated to be the center of a new mining camp in a prolific district that has already been producing for 100 years. McIlvenna Bay is just 65 km west of Flin Flon, Manitoba and is part of the world-class Flin Flon greenstone belt that stretches from Snow Lake, Manitobaby Flin-Flon at Foran ground in the east Saskatchewana distance of more than 225 km.

McIlvenna Bay is the largest undeveloped VHMS deposit in the region. The Company announced the results of its feasibility study on February 28, 2022, describing an 18-year mine life producing an average of 65 million pounds of copper equivalent per year. The Company has filed an NI 43-101 Technical Report for the McIlvenna Bay Feasibility Study on April 14, 2022. Foran’s Bigstone copper-zinc deposit is expected to serve as additional feed for the McIlvenna Bay plant. The Company filed an NI 43-101 Technical Report for the first resource estimate of the Bigstone deposit on February 11, 2022.

Foran trades on the TSX.V under the symbol “FOM” and on the OTCQX under the symbol “FMCXF”.

Neither the TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved of the information contained herein.

Forward-looking statements

CAUTION REGARDING FORWARD-LOOKING STATEMENTS

This press release contains “forward-looking information” (also referred to as “forward-looking statements”), which relate to future events or future performance and reflect management’s current expectations and assumptions. Often, but not always, forward-looking statements can be identified by the use of words such as “plans”, “hopes”, “expects”, “is planned”, “budget”, “expected”, “estimates “, “forecasts”, “intends”, “anticipates” or “believes” or variations (including negative variations) of these words and phrases, or state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be made, occur or will occur. These forward-looking statements reflect management’s current beliefs and are based on assumptions made by the Company and information currently available to it. provision. All statements, other than statements of historical fact, are forward-looking statements or information. The forward-looking statements or information contained in this press release relate to, among other things, the Company’s ability to develop the McIlv Project enna Bay and achieve the results described in the FS; and the ability to raise capital to finance the construction and development of the McIlvenna Bay project.

These forward-looking statements and information reflect the Company’s current views with respect to future events and are necessarily based on a number of assumptions which, while considered reasonable by the Company, are inherently subject to significant uncertainties and operational, commercial, economic and regulatory contingencies. . These assumptions include: our mineral reserve and resource estimates and the assumptions on which they are based, including the geotechnical and metallurgical characteristics of the rock confirming the sampled results and metallurgical performance; tonnage of ore to be extracted and processed; ore grades and recoveries; assumptions and discount rates are appropriately applied to engineering studies; the success of the Company’s projects, including the McIlvenna Bay project; the remaining zinc, copper, gold and silver prices as estimated; exchange rates remaining as estimated; the availability of funds for Company projects; capital asset decommissioning and rehabilitation estimates; estimates of mineral reserves and resources and the assumptions on which they are based; prices of energy inputs, labour, materials, supplies and services (including transportation); no work interruption; no unforeseen delays or interruptions in planned construction and production; all necessary permits, licenses and regulatory approvals are received in a timely manner; and the ability to comply with environmental, health and safety laws. The foregoing list of assumptions is not exhaustive.

The Company cautions the reader that forward-looking statements and information involve known and unknown risks, uncertainties and other factors that may cause actual results and developments to differ materially from those expressed or implied by such statements or information. forward-looking statements contained in this press release. and the Company has made assumptions and estimates based on or related to many of these factors. These factors include, but are not limited to: the anticipated and actual effects of the coronavirus COVID-19 on factors relevant to the Company’s business, including the effect on supply chains, the labor market, prices currency and commodity and global and Canadian capital markets, fluctuations in zinc, copper, gold and silver prices; fluctuations in the prices of energy inputs, labour, materials, supplies and services (including transportation); fluctuations in currency markets (such as the Canadian dollar versus the US dollar); operational risks and hazards inherent in mining (including environmental accidents and hazards, industrial accidents, equipment failures, unusual or unexpected geological or structural formations, cave-ins, floods and severe weather); inadequate insurance or inability to obtain insurance to cover such risks and hazards; our ability to obtain all necessary permits, licenses and regulatory approvals on a timely basis; changes in laws, regulations and governmental practices in Canada, including environmental, export and import laws and regulations; legal restrictions on mining; risks related to expropriation; increased competition in the mining industry for equipment and skilled personnel; the availability of additional capital; title issues and additional risks identified in our filings with the Canadian securities regulators on SEDAR in Canada (available at www.sedar.com). Although the Company has attempted to identify important factors that could cause actual results to differ materially, other factors may cause results not to be as anticipated, estimated, described or intended. Investors are cautioned not to place undue reliance on any forward-looking statements or information.

These forward-looking statements are made as of the date hereof and, except as required by applicable securities regulations, the Company neither intends nor undertakes any obligation to update any forward-looking information.

SOURCEForan Mining Corporation

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