Foran Announces Grant of Stock Options
January 24 2014 - 4:05PM
Marketwired
Foran Announces Grant of Stock Options
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jan 24, 2014) -
Foran Mining Corporation (TSX-VENTURE:FOM) ("Foran" or the
"Company") today announced that it has granted 2,025,000 incentive
stock options (the "Options") to Directors, Officers and Employees
of the Company.
The Options are set for a period of five years, expiring on
January 24, 2019, and each Option will allow the holder to purchase
a common share of Foran at a price of $0.20. The Options are
governed by the stock option plan of the Company.
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 Project is located in east central Saskatchewan, 65
kilometres west of Flin Flon, Manitoba and contains McIlvenna Bay,
one of the largest undeveloped volcanogenic massive sulphide
("VMS") deposits in Canada.
On March 27, 2013, Foran announced an increased mineral resource
estimate for McIlvenna Bay, with indicated resources of 13.9
million tonnes grading 1.96% copper equivalent (1.28% Cu, 2.67% Zn,
0.49 g/t Au, 17 g/t Ag) and an inferred resource of 11.3 million
tonnes grading 2.01% copper equivalent (1.32% Cu, 2.97% Zn, 0.43
g/t Au, 17 g/t Ag). For additional information on McIlvenna Bay,
see the Foran news release dated March 27, 2013 or the report
entitled "Technical Report on the McIlvenna Bay Project,
Saskatchewan, Canada" dated December 9, 2011 at www.sedar.com or
www.foranmining.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.
Mr. Roger March, P. Geo., Vice President Project Exploration for
Foran is the Qualified Person for technical information contained
in this news release.
Foran trades on the TSX.V under the symbol "FOM".
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, statements regarding the estimation of
mineral resources, exploration results, potential mineralization,
exploration and mine development plans, timing of the commencement
of operations and estimates of market conditions. Factors that
could cause actual results to differ materially from such
forward-looking information include, but are not limited to,
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.
Foran Mining CorporationPatrick SoaresPresident &
CEO416-363-9229409 Granville Street, Suite 904Vancouver, BC,
Canada, V6C 1T2Foran Mining CorporationFiona ChildeVP, Corporate
Development416-363-9229120 Adelaide Street West, Suite 2500Toronto,
ON, Canada, M5H 1T1Foran Mining
Corporation416-363-9229ir@foranmining.comwww.foranmining.com
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