Highlight intercept of 21m of 3.6% copper equivalent at Bigstone
Marconi target now 900m in strike length and open in all
directions
VANCOUVER, BC, June 28,
2022 /CNW/ - Foran Mining Corporation (TSXV: FOM)
(OTCQX: FMCXF) ("Foran" or the "Company") is pleased to provide
assay results from 14 holes drill on the Company's 100%-owned
Bigstone Project, located approximately 25 kilometres ("km") west
of the McIlvenna Bay deposit. Drilling focused on both the Bigstone
deposit and the Marconi prospect which is located 500 metres ("m")
to the east. Together, these targets represent a large prospective
copper, zinc, and gold mineralizing system that will be the focus
of continued exploration during the 2022 summer program.
Key Highlights
- Bigstone hole BS-21-251 returned 75.0m grading 2.1% copper equivalent ("CuEq"),
including 20.6m 3.6% CuEq.
- Hole BS-21-248 returned 7.6m
grading 1.1% CuEq, including 3.7m
grading 1.8% CuEq.
- Marconi currently extends 900m
along strike and remains open in all directions.
- Following the same exploration strategy that discovered
Tesla, airborne magnetic and surface electromagnetic surveys at
Marconi highlight anomalous targets that potentially correlate with
higher grade opportunities.
- 2022 drilling at the Marconi target will consist of 7 holes,
totalling 3,000m.
Dan Myerson, Foran's Executive
Chairman & CEO commented, "On the back of our new discovery
at Tesla, we are excited to announce more exploration success at
Bigstone-Marconi. These results continue to underpin our strategy
to explore and discover near-mine opportunities under a centralized
milling scenario. We continue to intercept high grade copper and
zinc mineralization, but recent work outlines a substantial
opportunity to also uncover extensive anomalous gold zones. It is
evident that our exploration techniques are working, and this is
only the tip of the iceberg given our vast canvas of targets.
Through systematic exploration and drilling, there is significant
potential to transform our properties into the next major mining
camp in Canada."
Bigstone Drilling
Over the past year, fifteen drill holes were completed in the
Bigstone deposit area encompassing 6,130m which consisted of near deposit holes
designed to expand known zones both up and down dip and along
strike with some infill drilling in certain areas to upgrade
current inferred resources to indicated categories. Bigstone
currently hosts an estimated resource of 1.98 million tonnes ("Mt")
in the Indicated category grading 2.22% CuEq and an additional 1.88
Mt of Inferred resources grading 2.14% CuEq.
Two holes (BS-21-257 and -258) encompassing 855m were drilled as ~150m step-outs to the north
of the deposit to test an electromagnetic anomaly along strike that
has a similar character as the known Bigstone deposit and one hole
(BB-21-01) was drilled ~420m to the south of the deposit at the
Babbage target, a northwest trending EM conductor which may be
related to anomalous copper-molybdenum mineralization intersected
in historic drilling. A plan map showing the location of the 2021
Bigstone Deposit drill holes is provided in Figure 2 below.
The program was successful in intersecting and expanding the
known mineralization in the mid-levels of the deposit, where holes
(BS-21-245, -246 -247, -248, -250, -251, -254, -255) successfully
intersected the upper Zinc Zone, as well as stratigraphically lower
mineralization in the Copper Zone and/or Zinc Stringer zone in most
cases (see Table 1 below for details). These results continue to
highlight that the deposit remains open for incremental expansion
with further drilling, especially at depth which was not tested as
part of this program.
A complete listing of drill results are provided in Table 1
below. Planning is currently underway for the next phase of
drilling which will focus on further expansion of the deposit in
the mid-levels and at depth where the mineralized zones remain
open, along with select infill holes to convert inferred resources
to the indicated category.
Table 1. Significant intercepts from the 2021 Bigstone Drill
program:
Hole
|
Zone
|
From
(m)
|
To
(m)
|
Interval
(m)
|
Cu
(%)
|
Zn
(%)
|
Ag
(g/t)
|
Au
(g/t)
|
CuEq
(%)
|
BS-21-245**
|
Zn Zone
|
294.75
|
304.25
|
9.50
|
0.42
|
14.00
|
76.9
|
0.37
|
6.2
|
Including
|
Zn Zone
|
298.30
|
299.20
|
0.90
|
0.28
|
57.24
|
24.9
|
0.06
|
21.9
|
And
|
Zn Zone
|
301.35
|
302.47
|
1.12
|
0.52
|
18.98
|
27.3
|
0.12
|
7.8
|
BS-21-245**
|
Cu Zone
|
308.70
|
311.50
|
2.80
|
1.36
|
0.12
|
25.0
|
1.97
|
2.4
|
BS-21-246**
|
|
222.00
|
225.00
|
3.00
|
0.03
|
0.23
|
3.7
|
0.78
|
0.5
|
Including
|
|
222.00
|
223.00
|
1.00
|
0.03
|
0.30
|
8.1
|
1.78
|
1.0
|
BS-21-246**
|
Zn Zone
|
228.80
|
231.70
|
2.90
|
0.11
|
8.75
|
5.6
|
0.25
|
3.5
|
Including
|
Zn Zone
|
229.65
|
230.20
|
0.55
|
0.01
|
30.90
|
19.0
|
0.15
|
11.8
|
BS-21-246**
|
Cu Zone
|
237.50
|
239.50
|
2.00
|
2.17
|
1.07
|
42.8
|
2.09
|
3.7
|
Including
|
Cu Zone
|
238.00
|
238.50
|
0.50
|
3.14
|
1.54
|
63.0
|
5.49
|
6.5
|
BS-21-247**
|
|
213.50
|
215.20
|
1.70
|
0.57
|
0.44
|
229.9
|
1.21
|
2.4
|
Including
|
|
213.50
|
214.00
|
0.50
|
0.35
|
0.08
|
454.0
|
2.06
|
3.6
|
BS-21-247**
|
Zn Zone
|
221.00
|
222.00
|
1.00
|
0.20
|
1.50
|
2.8
|
0.99
|
1.2
|
BS-21-247**
|
Cu Zone
|
226.10
|
228.10
|
2.00
|
0.38
|
0.07
|
8.7
|
0.39
|
0.6
|
BS-21-247**
|
Zn Stringer
|
258.45
|
259.35
|
0.90
|
0.01
|
20.30
|
0.3
|
0.03
|
7.6
|
BS-21-247**
|
FW zone
|
282.00
|
283.00
|
1.00
|
0.23
|
10.22
|
1.1
|
0.02
|
4.1
|
BS-21-248
|
Zn Zone
|
300.66
|
308.23
|
7.57
|
0.16
|
2.47
|
2.2
|
0.10
|
1.1
|
Including
|
Zn Zone
|
300.66
|
304.31
|
3.65
|
0.15
|
4.21
|
3.5
|
0.15
|
1.8
|
And
|
Zn Zone
|
304.00
|
304.31
|
0.31
|
0.09
|
12.90
|
5.7
|
0.31
|
5.1
|
BS-21-248
|
Zn Stringer
|
317.37
|
318.50
|
1.13
|
0.13
|
0.78
|
0.1
|
0.01
|
0.4
|
BS-21-249
|
NSV
|
|
|
|
|
|
|
|
|
BS-21-250
|
Zn Zone
|
251.34
|
254.50
|
3.16
|
0.01
|
1.02
|
0.96
|
0.01
|
0.4
|
Including
|
Zn Zone
|
251.34
|
252.50
|
1.16
|
0.02
|
1.69
|
0.80
|
0.01
|
0.7
|
BS-21-251
|
Zn Zone
|
252.50
|
253.85
|
1.35
|
0.14
|
1.23
|
1.2
|
0.04
|
0.6
|
BS-21-251
|
Zn Stringer
|
271.00
|
273.00
|
2.00
|
0.17
|
1.07
|
2.2
|
0.06
|
0.6
|
BS-21-251
|
Cu Zone
|
284.00
|
359.00
|
75.00
|
1.86
|
0.18
|
8.8
|
0.36
|
2.1
|
Including
|
Cu Zone
|
335.40
|
356.00
|
20.60
|
3.48
|
0.10
|
11.2
|
0.14
|
3.6
|
BS-21-252
|
NSV
|
|
|
|
|
|
|
|
|
BS-21-253
|
NSV
|
|
|
|
|
|
|
|
|
BS-21-254
|
Zn Zone
|
335.00
|
337.18
|
2.18
|
0.16
|
1.15
|
4.54
|
0.05
|
0.6
|
Including
|
Zn Zone
|
336.57
|
337.18
|
0.61
|
0.16
|
2.21
|
4.12
|
0.07
|
1.0
|
BS-21-254
|
Zn Stringer
|
361.00
|
367.71
|
6.71
|
0.07
|
0.93
|
0.89
|
0.02
|
0.4
|
Including
|
Zn Stringer
|
364.38
|
367.71
|
3.33
|
0.06
|
2.31
|
0.92
|
0.02
|
0.9
|
BS-21-254
|
Cu Zone
|
422.20
|
431.90
|
9.70
|
0.69
|
0.13
|
5.29
|
pending
|
-
|
Including
|
Cu Zone
|
424.80
|
427.38
|
2.58
|
0.93
|
0.25
|
6.12
|
pending
|
-
|
BS-21-255
|
Zn Zone
|
220.20
|
223.20
|
3.00
|
0.04
|
0.58
|
5.1
|
0.01
|
0.3
|
BS-21-256
|
|
49.90
|
50.20
|
0.3
|
0.03
|
0.005
|
0.1
|
5.49
|
2.5
|
BS-21-257
|
NSV
|
|
|
|
|
|
|
|
|
BS-21-258
|
NSV
|
|
|
|
|
|
|
|
|
BB-21-01
|
|
279.10
|
280.30
|
1.20
|
0.62
|
0.01
|
2.53
|
0.07
|
0.7
|
1 True thickness is
estimated to be approximately 60-65% of drill indicated. Copper
Equivalent (CuEq) values calculated using metal prices of $4.00/lb
Cu, $1.50/lb Zn, $1,800/oz Au, and $20/oz Ag.
|
** Drill hole
results previously released in Foran's news release January 21,
2022.
|
Marconi Target
The Marconi target represents a 900m long zone of anomalous copper mineralization
defined by 13 historic holes located 500m to the east of the Bigstone Deposit. As
outlined in the magnetic map provided in Figure 3 below, copper
appears to be spatially associated with the margin of magnetic
granodiorite and quartz porphyry intrusions along the full length
of its strike extent.
Drilling at
Marconi
Foran drilled two holes at Marconi during 2021. Mineralization
along the Marconi trend appears to be related to the contact
between a granodiorite intrusion and felsic volcanic rocks. Based
on historic drilling, copper mineralization at Marconi is
relatively consistent with thick zones of moderate grade (>0.5%
Cu) along the known strike length, with high-grade zones (>1%
Cu) intersected in several holes.
As highlighted in Table 2 below, hole MC-21-02 successfully
intersected significant anomalous copper mineralization hosted in
felsic volcanics, returning 18m of
0.44% Cu and 27m of 0.38% Cu. Hole
MC-21-02 hit the same contact, 250m
up-dip from historical hole BS-187, which intersected 16.1m @ 0.55% Cu as outlined in the cross-section
provided in Figure 4 below. Expectations are that the zone remains
open up-dip to the paleosurface (~40m below surface), since
historic hole BS-16 was not drilled deep enough to intersect the
mineralized contact. Mineralization is also open down-dip below
historic hole BS-187 which ended in mineralization.
MC-21-01 targeted the centre of the magnetic granodiorite
intrusion and did not test the mineralized contact. Significant
drill intercepts drilled by Foran are listed in Table 2, and
historical drilling is highlighted Table 3 below.
Table 2: Significant Drill Intercepts from Marconi
Drilling1
Hole
|
From
|
To
|
Interval
(m)
|
Cu
|
Zn
|
Ag
|
Au
|
Cu Eq
|
Cut-off
|
(m)
|
(m)
|
( %)
|
( %)
|
(g/t)
|
(g/t)
|
( %)
|
( %)
|
MC-21-01
|
211.0
|
212.0
|
1.0
|
0.01
|
0.02
|
0.1
|
1.92
|
0.9
|
|
MC-21-01
|
282.7
|
283.1
|
0.4
|
0.25
|
0.01
|
0.9
|
0.02
|
0.3
|
|
MC-21-02
|
222.3
|
225
|
2.7
|
0.24
|
0.01
|
0.7
|
1.05
|
0.7
|
0.20% Cu
|
MC-21-02
|
238.0
|
256.0
|
18.0
|
0.44
|
0.01
|
0.8
|
0.05
|
0.5
|
0.20% Cu
|
Including
|
238.0
|
242.0
|
4.0
|
0.87
|
0.01
|
1.4
|
0.11
|
0.9
|
0.50% Cu
|
And
|
247.6
|
250.8
|
3.1
|
0.50
|
0.01
|
1.0
|
0.06
|
0.5
|
0.50% Cu
|
MC-21-02
|
259.0
|
286.0
|
27.0
|
0.38
|
0.01
|
2.6
|
0.06
|
0.4
|
0.20% Cu
|
1
True thickness is estimated to be approximately 70-80% of drill
indicated. Copper Equivalent (CuEq) values calculated using metal
prices of $4.00/lb Cu, $1.50/lb Zn, $1,800/oz Au, and $20/oz
Ag.
|
Table 3: Results from historic Marconi drilling
Hole
|
From
|
To
|
Interval
(m)
|
Cu
|
Zn
|
Ag
|
Au
|
Cut-off
|
(m)
|
(m)
|
( %)
|
( %)
|
(g/t)
|
(g/t)
|
( %)
|
BS-176
|
97.4
|
108.2
|
10.8
|
0.45
|
0.01
|
1.37
|
0.18
|
0.20% Cu
|
Including
|
97.4
|
102.0
|
4.6
|
0.62
|
0.01
|
1.7
|
0.12
|
0.50% Cu
|
BS-177
|
135.3
|
173
|
37.7
|
0.39
|
0.01
|
1.36
|
0.04
|
0.20% Cu
|
Including
|
137.5
|
140.5
|
3.05
|
0.94
|
0.00
|
2.84
|
0.16
|
0.50% Cu
|
And
|
157.8
|
162.5
|
4.7
|
0.63
|
0.02
|
1.46
|
0.05
|
0.50% Cu
|
BS-178
|
452.85
|
458.2
|
5.35
|
0.64
|
0.01
|
0.87
|
0.09
|
0.20% Cu
|
Including
|
453.85
|
457.5
|
3.65
|
0.81
|
0.01
|
1.16
|
0.11
|
0.50% Cu
|
BS-178
|
462.85
|
473.35
|
10.5
|
0.42
|
0.01
|
0.62
|
0.06
|
0.20% Cu
|
Including
|
467.5
|
472.5
|
5.0
|
0.67
|
0.02
|
1.14
|
0.1
|
0.50% Cu
|
BS-178
|
475.45
|
504.5
|
29.05
|
1.25
|
0.02
|
2.61
|
0.24
|
0.50% Cu
|
BS-179
|
130.0
|
146.0
|
16.0
|
0.42
|
0.01
|
0.56
|
0.03
|
0.20% Cu
|
Including
|
132.0
|
134.8
|
2.8
|
0.55
|
0.01
|
0.51
|
0.01
|
0.50% Cu
|
And
|
139.0
|
142.0
|
3.0
|
0.69
|
0.01
|
1.07
|
0.06
|
0.50% Cu
|
BS-179
|
266.2
|
272.4
|
6.2
|
0.4
|
0.00
|
1.55
|
0.05
|
0.20% Cu
|
BS-179
|
274.5
|
281.5
|
7.0
|
0.49
|
0.01
|
1.98
|
0.06
|
0.20% Cu
|
Including
|
274.5
|
277.5
|
3.0
|
0.6
|
0.01
|
3.06
|
0.07
|
0.50% Cu
|
BS-187
|
476.7
|
492.8
|
16.1
|
0.55
|
0.01
|
0.83
|
0.07
|
0.20% Cu
|
Including
|
479.05
|
489.25
|
10.2
|
0.65
|
0.01
|
0.99
|
0.08
|
0.50% Cu
|
BS-190
|
327.5
|
332.1
|
4.6
|
0.47
|
0.01
|
4.67
|
0.1
|
0.20% Cu
|
BS-190
|
337.8
|
343.1
|
5.3
|
0.37
|
0.01
|
3.63
|
0.04
|
0.20% Cu
|
Including
|
339
|
341.1
|
2.1
|
0.62
|
0.01
|
4.46
|
0.07
|
0.50% Cu
|
BS-190
|
370.5
|
374.6
|
4.1
|
0.34
|
0.01
|
3.55
|
0.02
|
0.20% Cu
|
B-97-219
|
417
|
431
|
14
|
0.41
|
0.01
|
3.12
|
0.05
|
0.20% Cu
|
Including
|
421
|
425.6
|
4.6
|
0.64
|
0.01
|
4.39
|
0.07
|
0.50% Cu
|
B-97-220
|
138.4
|
151.9
|
13.5
|
1.17
|
0.03
|
4.64
|
0.07
|
0.20% Cu
|
B-97-220
|
159.77
|
179.27
|
19.5
|
0.32
|
0
|
2.22
|
0.01
|
0.20% Cu
|
B-97-221
|
173.7
|
202.4
|
28.7
|
0.58
|
0.01
|
3.64
|
0.07
|
0.20% Cu
|
Including
|
182.8
|
186.6
|
3.78
|
0.88
|
0.01
|
4.96
|
0.06
|
0.50% Cu
|
And
|
190.5
|
200.8
|
10.3
|
0.88
|
0.01
|
4.63
|
0.12
|
0.50% Cu
|
1
Note on Marconi Historic Exploration Drilling: There is
insufficient information available at this time for the QP to
verify the historic results as defined under N1-43-101 and the
historic results presented here for the previous Marconi drilling
are therefore treated as historical exploration information. The
company considers these historical results relevant to assess the
mineralization and exploration potential of the Marconi area and
larger property.
|
Large Mineralizing
System
Alteration and mineral assemblages at Marconi indicate both an
epigenetic Cu-Au overprint and the presence of earlier sulphide
mineralization. Several phases of magnetite are considered to be
alteration products, with chalcopyrite using both pre-existing
sulphides and magnetite as the chemical agents needed for
precipitation. The Bigstone deposit also has a strong association
with magnetite, and similarities between the two suggest that they
may have in part formed through similar processes and are bound by
a structurally controlled "node" (i.e. defined by a set of NNE and
NW trending faults) approximately 2km x 2.5km in size as
interpreted from airborne magnetics data.
An interpreted spatial association between magnetite and copper
mineralization at both Bigstone and Marconi provides a vector for
future drilling in this covered terrain and the recognition of a
potentially new style of mineralization for this district allows
Foran Geoscientists to better plan future exploration at existing
prospects as well as the greater region.
2022 Summer Drill
program
The company plans to drill seven holes, and approximately
3,000m at Marconi this summer to
further test and better define the historic mineralized horizons.
Drilling will focus on exploring for higher grade zones within the
wide spaced historic drilling, as well as testing to extend
mineralization to the south along the intrusive contact. Work to
date indicates Marconi remains open in all directions, and work
will be completed to confirm and expand the target in an effort to
move the Marconi to the resource definition
stage.
The program will utilize oriented core to better understand the
structural controls on mineralization and drilling will be focused
on the potential for higher grade shoots within the mineralized
zones in the area between Section 1 and Section 2 as outlined in
Figure 3 above. It is currently anticipated that the summer drill
program at Bigstone will begin in July.
Quality Assurance and Quality
Control
Drilling was completed using NQ size diamond drill core and core
was logged by employees of the Company. During the logging process,
mineralized intersections were marked for sampling and given unique
sample numbers. Sampled intervals were sawn in half using a diamond
blade saw. One half of the sawn core was placed in a plastic bag
with the sample tag and sealed, while the second half was returned
to the core box for storage on site. Sample assays are performed by
the Saskatchewan Research Council ("SRC") Geoanalytical Laboratory
in Saskatoon, Saskatchewan. SRC is
a Canadian accredited laboratory (ISO/IEC 17025:2017) and
independent of Foran. Analysis for Ag, Cu, Pb and Zn is performed
using ICP-OES after total multi-acid digestion. Au analysis is
completed by fire assay with ICP-OES finish. Any samples which
return results greater than 1.0 g/t Au are re-run using gravimetric
finish. A complete suite of QA/QC reference materials (standards,
blanks and pulp duplicates) are included in each batch of samples
processed by the laboratory. The results of the assaying of the
QA/QC material included in each batch are tracked to ensure the
integrity of the assay data.
Qualified Person
Mr. Roger March, P. Geo., Senior
Geoscientist for Foran, is the Qualified Person for all technical
information herein and has reviewed and approved the technical
information in this release.
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 which create
value for all our stakeholders, while also safeguarding the
environment. The McIlvenna Bay project is located entirely
within the documented traditional territory of the Peter Ballantyne
Cree Nation. The Company also owns the Bigstone project, a
resource-development stage deposit located 25km southwest of its
McIlvenna Bay project.
McIlvenna Bay is a copper-zinc-gold-silver rich VHMS deposit
intended to be the centre of a new mining camp in a prolific
district that has already been producing for 100 years. McIlvenna
Bay sits just 65km West of Flin Flon,
Manitoba and is part of the world class Flin Flon Greenstone
Belt that extends from Snow Lake,
Manitoba, through Flin Flon
to Foran's ground in eastern Saskatchewan, a distance of over 225km.
McIlvenna Bay is the largest undeveloped VHMS deposit in the
region. The Company announced the results from its Feasibility
Study on February 28, 2022, outlining
that current mineral reserves would potentially support an 18-year
mine life producing an average of 65 million pounds of copper
equivalent annually. The Company filed a NI 43-101 Technical Report
for the McIlvenna Bay Feasibility Study on April 14, 2022. The Company filed a NI 43-101
Technical Report for the Bigstone Deposit resource estimate on
February 11, 2022. Investors are
encouraged to consult the full text of these technical reports
which may be found on the Company's profile on www.sedar.com.
Foran trades on the TSX.V under the symbol "FOM" and on the
OTCQX under the symbol "FMCXF".
Forward Looking
Statements
CAUTIONARY NOTE REGARDING FORWARD LOOKING STATEMENTS
This news release contains certain forward-looking information
and forward-looking statements, as defined under applicable
securities laws (collectively referred to herein as
"forward-looking statements"). These statements relate to future
events or to the future performance of Foran Mining Corporation
(the "Company") and reflect management's expectations and
assumptions as of the date hereof or as of the date of such forward
looking statement.
All statements other than statements of historical fact are
forward-looking statements. Often, but not always, forward-looking
statements can be identified by the use of words such as "plans",
"expects", "is expected", "budget", "scheduled", "estimates",
"continues", "forecasts", "projects", "predicts", "potentially",
"intends", "likely", "anticipates" or "believes", or variations of,
or the negatives of, such words and phrases, or state that certain
actions, events or results "may", "could", "would", "should",
"might" or "will" be taken, occur or be achieved. Forward-looking
statements involve known and unknown risks, uncertainties and other
factors that may cause actual results to differ materially from
those anticipated in such forward-looking statements. The
forward-looking statements in this news release speak only as of
the date of this news release or as of the date specified in such
statement.
Inherent in forward-looking statements are known and unknown
risks, estimates, assumptions, uncertainties and other factors that
may cause the actual results, performance or achievements of the
Company to be materially different from any future results,
performance or achievements expressed or implied by the
forward-looking statements contained in this news release. These
factors include management's belief or expectations relating to the
following and, in certain cases, management's response with regard
to the following: Ownership and reliance on the Company's mineral
projects; The Company's history of losses and potential inability
to generate sufficient revenue to be profitable or to generate
positive cash flow on a sustained basis; The Company's statements
about the expected life of mine, productive capacity and other
technical estimates on its projects, and the Company's reliance on
technical experts with respect thereto; The Company's exposure to
risks related to mineral resources exploration and development;
Impact of the COVID-19 Pandemic, Infectious Diseases and Other
Health Crises on the Company; Global financial volatility and its
impact on the Company; The impact of the Russia-Ukraine conflict; Government, securities, and
stock exchange regulation and policy; Legal proceedings which may
have a material adverse impact on the Company's operations and
financial condition; Capital market conditions and their effect on
the securities of the Company; Insurance and uninsurable risks;
Environmental, health and safety regulation and policy; Mining
hazards and risks; Title rights to the Company's projects;
Indigenous peoples' title and other legal claims; Mineral resource
and mineral reserve estimates; Uncertainties and risks relating to
the Feasibility Studies; Fluctuations in commodity prices,
including metals; Competition; Expertise and proficiency of
management; Limited operating history; The availability of future
financing; Dilutive effects; Impacts of global climate change and
natural disasters; Inadequate infrastructure; Relationships with
local communities; Reputational damage; Risks arising from the
Company's reliance on financial instruments; Risks arising from
future acquisitions; Management conflicts of interest; Security
breaches of the Company's information systems; and the additional
risks identified in our Annual Information Form dated June 8, 2022 and other securities filings with
Canadian securities regulators available at www.sedar.com.
The forward-looking statements contained in this news release
reflect the Company's current views with respect to future events
and are necessarily based upon a number of assumptions that, while
considered reasonable by the Company, are inherently subject to
significant operational, business, economic and regulatory
uncertainties and contingencies. Although the Company has attempted
to identify important factors that could cause actual results to
differ materially, there may be other factors that cause results
not to be as anticipated, estimated, described or intended. Readers
are cautioned against undue reliance on forward-looking statements
and should note that the assumptions and risk factors discussed
above do not contain an exhaustive list of the factors or
assumptions that may affect the forward-looking statements, and
that the assumptions underlying such statements may prove to be
incorrect. Actual results and developments are likely to differ,
and may differ materially, from those expressed or implied by the
forward-looking statements contained in the Company's securities
filings and this news release. All forward-looking statements
herein are qualified by this cautionary statement. The Company
undertakes no obligation to update publicly or otherwise revise any
forward-looking statements whether as a result of new information
or future events or otherwise, except as may be required by
law.
SOURCE Foran Mining Corporation