Foran Mining Corporation
TSX VENTURE : FOM

Foran Mining Corporation

May 05, 2011 17:38 ET

Foran Continues to Build Management Team: Appoints CFO and VP Corporate Development

SASKATOON, SASKATCHEWAN--(Marketwire - May 5, 2011) -Foran Mining Corporation (TSX VENTURE:FOM) ("Foran" or the "Company") is pleased to announce the appointment of Mr. Tim Thiessen as Chief Financial Officer and Dr. Fiona Childe as Vice President, Corporate Development of the Company.

Tim Thiessen, a Canadian Chartered Accountant, has 13 years of international experience in both public accounting and the mining industry. Most recently he was CFO of Aurcana Corporation, a publicly listed silver and copper producer, where he oversaw the accounting and finance departments and played a key role in growing Aurcana's market cap from $30 million to over $250 million. Previously he held various positions with Endeavour Financial Ltd., Endeavour Mining Capital Corp. and with Deloitte LLP.

Fiona Childe, Vice President, Corporate Development, Ph.D., P.Geo., has over fifteen years of experience in the mining sector and brings a strong combination of technical and corporate skills to the Company. She has established effective business development and communications strategies for mining and exploration companies globally, and has held senior management positions with several private and TSX listed mining and development companies. Fiona will commence employment with Foran effective May 9, 2011.

President and CEO Patrick Soares commented "I am pleased to welcome Tim and Fiona to Foran. This is an exciting time for the Company, as we advance our 100% owned McIlvenna Bay Project. Tim and Fiona bring a depth of industry experience to Foran and they will be key members of the management team as we move forward with McIlvenna Bay."

Foran would like to thank Allyson Stephens for her dedication during the past five years as Chief Financial Officer. She will remain as Corporate Secretary of the Company.

About Foran Mining

Foran is a diversified exploration company with properties in the Flin Flon mining belt. The Company's flagship project is McIlvenna Bay, a Volcanogenic Massive Sulphide (VMS) deposit located in northeastern Saskatchewan, 60 kilometers west of Flin Flon, Manitoba.

McIlvenna Bay is one of the largest undeveloped VMS deposits in Canada, with an indicated mineral resource of 6.7 million tonnes grading 0.87% copper, 6.51% zinc and 26.0 g/t silver and a further 6.0 million tonnes grading 0.83% copper, 5.89% zinc and 24.8 g/t silver in the inferred category, using a cut‐off grade of 4.0% zinc and 1.5% copper (as applicable).

This resource estimate is presented in an independent National Instrument 43-101 technical report, dated November 2006 and authored by Scott Wilson Roscoe Postle and Associates Inc. The report is available on SEDAR at www.sedar.com or on the Company's website at www.forangold.com.

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