Foran Reports Second Quarter 2014 Results and Announces Adoption of Advance Notice Policy

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Aug. 13, 2014) - Foran Mining Corporation (TSX VENTURE:FOM) ("Foran" or the "Company") today announced its financial results for the six month period ended June 30, 2014. The Company recorded a net loss of $752,372 or $0.01 per share (basic and diluted). This compares to a net loss of $1,039,511 or $0.01 per share (basic and diluted) for the six month period ended June 30, 2014.

As at June 30, 2014 Foran had a treasury of $3.9 million in cash and cash equivalents.

The unaudited Condensed Consolidated Interim Financial Statements for the six months ended June 30, 2014, along with Management's Discussion and Analysis, are available at www.sedar.com.

The Company also announces the approval by the Board of Directors on August 12, 2014 of an Advance Notice Policy (the "Policy"), which requires advance notice to the Company in circumstances where nominations of persons for election to the Board are made by shareholders of the Company other than pursuant to: (i) a requisition of a meeting made pursuant to the provisions of the Business Corporations Act (British Columbia) (the "Act"), or (ii) a shareholder proposal made pursuant to the provisions of the Act.

Among other things, the Policy fixes a deadline by which holders of record of common shares of the Company must submit director nominations to the Company prior to any annual or special meeting of shareholders and sets forth the information that a shareholder must include in the notice to the Company for the notice to be in proper written form.

In the case of an annual meeting of shareholders, notice to the Company must be made not less than 30 nor more than 65 days prior to the date of the annual meeting; provided, however, that in the event that the annual meeting is to be held on a date that is less than 50 days after the date on which the first public announcement of the date of the annual meeting was made, notice may be made no later than the close of business on the 10^th day following such public announcement.

In the case of a special meeting of shareholders (which is not also an annual meeting), notice to the Company must be made not later than the close of business on the 15^th day following the day on which the first public announcement of the date of the special meeting was made.

The Policy is effective as of the date it was approved. Shareholder approval for the Policy will be sought at the Company's next annual general meeting in 2015.

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