Foran Mining Corporation
TSX VENTURE : FOM

Foran Mining Corporation

June 23, 2005 17:37 ET

Foran Mining Corporation: Spring 2005 Drilling Program Ends- Resource Estimate Report Delayed

SASKATOON, SASKATCHEWAN--(CCNMatthews - June 23, 2005) - Foran Mining Corp (TSX VENTURE:FOM) announces the completion of their spring drilling program at the North Star Site, near the town of Snow Lake. Assays and technical analysis are ongoing.

Foran reserves its decision for a second drill exploration program, as stated in a February 16, 2005 News Release, until results of the first program are received.

Further to the May 5, 2005 News Release which stated that Roscoe Postle Associates (RPA) has been retained to complete an updated mineral resource estimate and technical report on the North Star property, the completion date of the report will be delayed. The completion date is now estimated to be mid-August. RPA has requested that issues with Quality Assurance and Quality Control, first stated in the May 3, 2004 Form 43-101F1 Technical Report by John Pearson, be rectified prior to further work on the report. As well, errors in data entry identified by RPA are to be rectified. RPA has also recommended that results of the spring drilling program be incorporated into the resource estimate. These issues have adversely affected the timing of the RPA resource estimate and technical report.

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)
    Email: ir@forangold.com