Foran Mining Corporation

Foran Mining Corporation

May 12, 2005 16:21 ET

Foran Revises First Quarter Statements and MD&A

SASKATOON, SASKATCHEWAN--(CCNMatthews - May 12, 2005) - As a result of a review by the British Columbia Securities Commission, Foran Mining Corporation (TSX VENTURE:FOM) is issuing the following press release to clarify its disclosure.

The original First Quarter Statements for the period ended December 31, 2004 have been revised to account for the stock based compensation disclosure that did not provide the required disclosure in section 3870 of the CICA Handbook. The Consolidated statement of cash flows did not record the issuance of shares for mineral properties correctly and therefore has been revised.

The original Management's Discussion and Analysis did not meet the standard of NI 51-102 and therefore, the document was revised accordingly.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this news release.

Contact Information

  • Foran Mining Corporation
    Brad Summach
    Vice President
    (306) 956-0157
    (306) 956-0158 (FAX)