Foran Mining Corporation (TSX VENTURE:FOM) ("Foran" or the "Company") is pleased
to announce the Company's winter 2013 drill program has commenced, with two
drill rigs currently active on the McIlvenna Bay deposit ("McIlvenna Bay" or
"the "Deposit"). 


As announced on October 1, 2012, Foran plans to drill approximately 7,000 metres
("m"), with approximately 2,000 m of drilling on the Deposit, followed by a
further approximately 5,000 m to test regional targets in the Company's highly
prospective landholdings around the Deposit. 


Patrick Soares, President and CEO of Foran commented: "A large part of the
mineral resource outlined to date on the Deposit is already in the indicated
category; we are using the opportunity this winter to look ahead to the
development of McIlvenna Bay, with the objective of upgrading additional
inferred resources for inclusion in future feasibility studies." Mr. Soares
continued: "Once the Deposit drilling is complete, we will begin exploration
drilling of targets outside the Deposit area with the objective of discovery of
additional zones of mineralization." 


Drilling on the Deposit will consist of 3 to 4 holes designed to intersect the
Deposit at depths of 400 to 500 m, near and below the main boundary between
indicated and inferred resources. The primary objective of this drilling is to
upgrade additional resources into the indicated category for potential
conversion to reserves in feasibility-level work. 


Regional drilling will focus on testing known zones of volcanogenic massive
sulphide ("VMS") mineralization, as well as geophysical targets outside the
immediate Deposit area on the 27,000 hectare contiguous McIlvenna Bay, Balsam
and Hanson properties. This includes the Balsam deposit, located 7 kilometres
("km") southeast of the Deposit, on the Balsam property. Past drilling by
previous operators at the Balsam deposit intersected multiple zones of massive,
semi-massive and stockwork copper-zinc-gold-silver mineralization, with
discovery hole BAL-11 intersecting 3.29% Cu, 3.30% Zn, 3.6 g/t Au and 32 g/t Ag
over 6.5 m, starting at 84.5 m downhole. An initial mineral resource was
estimated by Aur Resources in 1997. However, this resource estimate is historic
in nature and Foran has not done sufficient work to classify it as a current
resource estimate; further drilling will be required to upgrade the historic
resource. Surveying and reinterpretation of historic drilling by Foran in 2012
has identified areas of potential for expansion of Balsam mineralization through
drilling. 


The McIlvenna Bay, Balsam and Hanson properties are owned 100% by Foran; Teck
Resources Limited holds back-in rights on the Balsam and Hanson properties. 


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 property is located
in east central Saskatchewan, 65 km west of Flin Flon, Manitoba and contains
McIlvenna Bay, one of the largest undeveloped VMS deposits in Canada. 


For additional information on McIlvenna Bay, see 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. 


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 law.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Foran Mining Corporation
Patrick Soares
President & CEO
416-847-7310


Foran Mining Corporation
Fiona Childe
VP, Corporate Development
416-847-7310
ir@foranmining.com
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