Foran Announces Results of Annual and Special Meeting
VANCOUVER, May 9, 2024 - Foran Mining Corp. (TSX: FOM) (OTCQX: FMCXF) ("Foran" or the "Company") is pleased to announce the voting results from the Company's annual and special meeting of shareholders of the Company held on May 9th, 2024 (the "Meeting").
A total of 171,528,263 common shares of the Company were represented at the Meeting, representing 56.2% of the Company's outstanding common shares as at the record date of March 25, 2024. Shareholders voted in favour of all matters brought before them at the Meeting, which matters are discussed in detail in the Company's Management Information Circular dated April 3, 2024 that is available on SEDAR+ at www.sedarplus.ca and the Company's website at www.foranmining.com.
The following voting results are based on the total number of votes that were cast at the Meeting:
| Appointment of Auditors | For | Withheld | Outcome |
| Appoint KPMG LLP, Auditors of the Company for the ensuing year and to authorize Directors to fix their remuneration | 170,937,397 (99.7 %) | 590,866 (0.3 %) | Carried |
| Number of Directors | For | Against | Outcome |
| Set the number of directors at seven (7) | 171,527,123 (100.0 %) | 1,140 (0.0 %) | Carried |
| Election of Directors | For | Withheld | Outcome |
| Elect the following nominees as directors of the Company | |||
| Maurice Tagami | 170,372,617 (99.3 %) | 1,155,646 (0.7 %) | Carried |
| David Petroff | 171,527,394 (100.0 %) | 869 (0.0 %) | Carried |
| Daniel Myerson | 171,280,930 (99.9 %) | 247,333 (0.1 %) | Carried |
| Wayne Wouters | 154,744,372 (90.2 %) | 16,783,891 (9.8 %) | Carried |
| Majd Bakar | 170,228,127 (99.2 %) | 1,300,136 (0.8 %) | Carried |
| Jessica McDonald | 170,230,168 (99.2 %) | 1,298,085 (0.8 %) | Carried |
| Nancy Guay | 171,370,029 (99.9 %) | 158,234 (0.1 %) | Carried |
| Employee Share Purchase Plan | For | Against | Outcome |
| Approve the Company's Employee Share Purchase Plan | 150,216,498 (87.6 %) | 21,311,765 (12.4 %) | Carried |
| Alteration to Articles | For | Against | Outcome |
| Approve the alteration of the Company's Articles to remove the provisions of Section 15 which permit the appointment of alternate directors | 149,596,384 (87.2 %) | 21,931,879 (12.8 %) | Carried |
A report on all items of business voted at the Meeting has been filed on SEDAR+ (www.sedarplus.ca).
Foran Mining Corp. 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, comprises the infrastructure and works related to pre-development and advanced exploration activities of the Company, and hosts the McIlvenna Bay Deposit and Tesla Zone. The Company also owns the Bigstone Deposit, a resource-development stage deposit located 25km southwest of the McIlvenna Bay Property.
The McIlvenna Bay Deposit 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. The McIlvenna Bay Property 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.
The McIlvenna Bay Deposit is the largest undeveloped VHMS deposit in the region. The Company announced the results from its NI 43-101 compliant Technical Report on the Feasibility Study for the McIlvenna Bay Deposit (the "McIlvenna 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 the McIlvenna Feasibility Study on April 14, 2022, with an effective date of February 28, 2022. The Company also filed a NI 43-101 Technical Report for the Bigstone Deposit resource estimate on January 21, 2021, as amended on February 1, 2022. Investors are encouraged to consult the full text of these technical reports which may be found on the Company's profile on www.sedarplus.ca.
The Company's head office is located at 409 Granville Street, Suite 904, Vancouver, BC, Canada, V6C 1T2. Common Shares of the Company are listed for trading on the TSX under the symbol "FOM" and on the OTCQX under the symbol "FMCXF".
SOURCE Foran Mining Corp.
Contact
FOR ADDITIONAL INFORMATION & MEDIA ENQUIRIES: Foran: Jonathan French, CFA, Director, Investor Relations, 409 Granville Street, Suite 904, Vancouver, BC, Canada, V6C 1T2, info@foranmining.com; Media, 604-488-0008
