VMS Vortex Metals Inc

Foran Mining Corporation (TSX VENTURE:FOM) ("Foran" or the "Company") is pleased
to provide an update on regional exploration and property ownership of its
landholdings surrounding the Company's McIlvenna Bay deposit, in east central
Saskatchewan. On November 2, 2011, Foran announced a significant new resource at
McIlvenna Bay, the results of which are summarized below. 


The landholdings surrounding the McIlvenna Bay deposit, which together cover
over 27,000 hectares in the western extent of the Flin Flon mining belt, include
the McIlvenna Bay property, and the adjacent Balsam and Hanson properties. The
properties form a contiguous land package underlain by the same belt of volcanic
rocks that hosts the McIlvenna Bay volcanogenic massive sulphide ("VMS")
deposit. All three properties contain known zones of VMS mineralization
(http://media3.marketwire.com/docs/Figure1-VTEM.pdf). 


Foran has now completed a 1,587.4 line kilometre helicopter-borne geophysical
survey (versatile time domain electromagnetic (VTEMplus) and horizontal magnetic
gradiometer) over the portions of these properties not surveyed by the Company
in 2007. Data quality was excellent and preliminary results suggest a number of
untested VTEM conductors which warrant follow-up diamond drill testing. The
Company plans to complete its evaluation of the geophysical data and test
several of these targets in a winter 2012 regional drill program. 


Patrick Soares, President and CEO of Foran commented: "Together, our McIlvenna
Bay, Balsam and Hanson properties cover a significant strike extent of highly
prospective stratigraphy that hosts the McIlvenna Bay deposit. VMS deposits in
the Flin Flon belt, and elsewhere, generally occur in clusters. We are already
starting to see this clustering of VMS mineralization in our landholdings around
the McIlvenna Bay deposit, where several historic VMS occurrences are known".
Mr. Soares continued "Our large McIlvenna Bay deposit was found under Paleozoic
cover by drill testing geophysical targets; we plan to employ the same technique
in the search for additional deposits in this area."


Balsam Agreement

The 4,066 hectare Balsam property is located immediately east of, and adjacent
to Foran's 100% owned McIlvenna Bay and Hanson properties. Under the terms of a
previous joint venture agreement, the Balsam property was held 50% by Foran and
50% by Virginia Energy Resources Inc. ("VAE"). The Company has now signed an
agreement with VAE to acquire 100% of the Balsam property (the "Balsam
Agreement"). The purchase price of VAE's 50% interest is 133,333 common shares
of Foran ("Foran shares") at a deemed value of $0.75/Foran share, for an
aggregate value of $100,000. The Balsam Agreement is subject to approval by the
TSX Venture Exchange; resale restrictions and hold periods may be placed on the
Foran shares paid in this transaction by the TSX Venture Exchange.


The Balsam and Hanson properties are subject to back-ins and royalties, as
outlined in the Foran Management Discussion and Analysis for the nine month
period ended June 30, 2011 at www.sedar.com.


Mr. Dave Fleming, P. Geo., Vice President Exploration for Foran is the Qualified
Person for technical information contained in this news release.


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 contains the
McIlvenna Bay deposit, one of the largest undeveloped VMS deposits in Canada,
with total indicated resources of over 12 million tonnes ("Mt") and total
inferred resources of almost 10 Mt. This is comprised of a 2011 Resource in the
Copper Stockwork Zone of 5.56 million tonnes ("Mt") at a grade of 1.55% Copper
("Cu"), 11 grams of silver per tonne ("g/t Ag"), 0.53 grams of gold per tonne
("g/t Au") and 0.27% Zinc ("Zn") (or 1.91% CuEq) in the indicated category and a
further inferred resource of 3.57 Mt at a grade of 1.48% Cu, 10 g/t Ag, 0.35 g/t
Au and 0.43% Zn (or 1.81% CuEq), using a 1.1% CuEq cutoff. An additional 2006
Resource for the massive and semi-massive sulphides includes 6.51 Mt at a grade
of 6.60% Zn, 26 g/t Ag, and 0.82% Cu in the indicated category and a further
inferred resource of 6.00 Mt at a grade of 5.89% Zn, 25 g/t Ag and 0.83% Cu,
using a $50/t NSR cutoff. For additional information see the Foran news release
dated November 2, 2011 at www.sedar.com or www.foranmining.com. 


Foran trades on the TSX.V under the symbol "FOM".

Forward Looking Statements

This news release contains forward-looking statements. These statements are
based on information currently available to the Company and the Company provides
no assurance that actual results will meet management's expectations.
Forward-looking statements include estimates and statements that describe the
Company's future plans, objectives or goals, including words to the effect that
the Company or management expects a stated condition or result to occur.
Forward-looking statements may be identified by such terms as "believes",
"anticipates", "expects", "estimates", "may", "could", "would", "will", or
"plan". Since forward-looking statements are based on assumptions and address
future events and conditions, by their very nature they involve inherent risks
and uncertainties. Actual results relating to, among other things, results of
exploration, project development, reclamation and capital costs of the Company's
mineral properties, and the Company's financial condition and prospects, could
differ materially from those currently anticipated in such statements for many
reasons such as: changes in general economic conditions and conditions in the
financial markets; changes in demand and prices for minerals; litigation,
legislative, environmental and other judicial, regulatory, political and
competitive developments; technological and operational difficulties encountered
in connection with the activities of the Company; and other matters discussed in
this news release. This list is not exhaustive of the factors that may affect
any of the Company's forward-looking statements. These and other factors should
be considered carefully and readers should not place undue reliance on the
Company's forward-looking statements. The Company does not undertake to update
any forward-looking statement that may be made from time to time by the Company
or on its behalf, except in accordance with applicable securities laws.

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