Foran Mining Corporation
TSX VENTURE : FOM

Foran Mining Corporation

September 25, 2007 15:52 ET

Foran Mining Corporation: Drilling Begins at McIlvenna Bay

SASKATOON, SASKATCHEWAN--(Marketwire - Sept. 25, 2007) - Foran Mining Corporation ("Foran") (TSX VENTURE:FOM) is pleased to announce that drilling has begun at its McIlvenna Bay property.

The McIlvenna Bay deposit occurs within the Company's Hanson Lake property which comprises 26 claims totalling 12,950ha and is located approximately one kilometre south of Hanson Lake, Saskatchewan.

A nine hole in-fill diamond drilling program has been developed with the specific intention to upgrade the mineral resources from inferred to indicated and to trace their extension down plunge to the northwest.

Barkor Drilling Inc. of Snow Lake, Manitoba will be using a new Discovery EF-50 drill capable of drilling NQ size to 1,500 meters. The crew assembled for the drill program has previous experience in drilling the McIlvenna Bay deposit.

A significant mineral resource was previously estimated with indicated resources totalling 6,671,000 t at a grade of 0.87% Cu, 6.51% Zn, and 26.0 g/t Ag. Inferred resources total 6,000,000 t at a grade of 0.83% Cu, 5.89% Zn, and 24.8 g/t Ag.

75% of the McIlvenna Bay property is owned by Foran in a joint venture partnership with Foran being the sole operator.

ON BEHALF OF THE BOARD

FORAN MINING CORPORATION

Bob Nylen, President/CEO

This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address events or developments that Foran Mining Corporation expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. The Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.

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

Contact Information

  • Foran Mining Corporation
    Bob Nylen
    President/CEO
    (306) 956-0157
    (306) 956-0158 (FAX)
    Email: ir@forangold.com