Foran Appoints Mario Grossi To The Board

VANCOUVER, British Columbia, March 27, 2019 (GLOBE NEWSWIRE) -- Foran Mining Corporation (TSX.V: FOM) (“Foran” or the “Company”) is pleased to announce that Mr. Mario Grossi has agreed to join Foran’s Board of Directors.

Mr. Grossi is the President, CEO and founder of Technica Group Inc. and Technica Mining. Technica Mining is Ontario’s second largest underground mining and construction contractor, employing over 450 people and operating Canada-wide. He has worked within the Canadian mining and metals industry for over 25 years, focused on continuously improving mining techniques while striving to create a zero-harm workplace.

“We are delighted to have Mario join our Board,” said Darren Morcombe, Executive Chairman of Foran. “He brings a wealth of knowledge and expertise that strengthens our ability to drive value for shareholders.”

“Mario’s hands-on mining experience is valuable for Foran as we move the McIlvenna Bay Project beyond feasibility. Adding an experienced mining contractor to our Board at this stage enhances our ability to evaluate the best way to develop McIlvenna Bay. We anticipate benefits from his involvement for both shareholders and the Board,” commented Patrick Soares, President & CEO of Foran.

Pursuant to its Stock Option Plan, the Company also announces that it has granted a total of 2,070,000 incentive stock options to Directors, Officers, Employees and Consultants of the Company. Each stock option will allow the holder to purchase a common share of Foran at a price of $0.34, with an expiry date of March 27, 2024.

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

For additional information, please contact Foran Mining Corporation:

Patrick Soares
President & CEO
904 – 409 Granville Street
Vancouver, BC, Canada, V6C 1T2
Phone: +1 604-488-0008
Email:  ir@foranmining.com

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 the information contained herein.

Forward Looking Statements

This news release contains forward-looking information which is not comprised of historical facts. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, Foran’s objectives, goals or future plans, if a feasibility study will suggest an economically viable project, estimation of mineral resources, exploration results, and potential mineralization. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, preparation of a feasibility study, the failure of such study to suggest an economically viable project, failure to convert estimated mineral resources to reserves, capital and operating costs varying significantly from estimates, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, political risks, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects and the other risks involved in the mineral exploration and development industry, and those risks set out in Foran’s public documents filed on SEDAR. Although Foran believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Foran disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.