Foran Reports Third Quarter 2014 Results

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Nov. 26, 2014) - Foran Mining Corporation (TSX VENTURE:FOM) ("Foran" or the "Company") today announced its financial results for the nine month period ended September 30, 2014. The Company recorded a net loss of $1.07 million or $0.01 per share (basic and diluted). This compares to a net loss of $1.46 million or $0.02 per share (basic and diluted) for the nine month period ended September 30, 2013.

As at September 30, 2014 Foran had a treasury of $3.36 million in cash and cash equivalents.

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

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 Deposit ("McIlvenna Bay"), located in east-central Saskatchewan, 65 kilometres west of Flin Flon, Manitoba, is one of the largest undeveloped volcanogenic massive sulphide deposits in Canada.

On November 12, 2014, Foran announced a positive preliminary economic assessment ("PEA") for McIlvenna Bay, with an estimated pre-tax NPV₇ of $382M ($263M after-tax) & 22% IRR (19% after-tax). A technical report to support the McIlvenna Bay PEA will be filed on www.sedar.com within 45 days of the release. See Foran's November 12, 2014 news release for important disclosures with respect to the McIlvenna Bay PEA.

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.

The PEA is considered preliminary in nature and includes mineral resources, including inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves. Mineral resources that are not mineral reserves have not yet demonstrated economic viability. Due to the uncertainty that may be attached to mineral resources, it cannot be assumed that all or any part of a mineral resource will be upgraded to mineral reserves. Therefore, there is no certainty that the results concluded in the PEA will be realized.