Deposit Remains Open and Exploration
Planning Underway for 2022
VANCOUVER, BC,
Oct. 14, 2021 /CNW/ - Foran
Mining Corporation (TSXV: FOM) ("Foran" or the "Company") is
pleased to announce an updated mineral resource estimate (the "2021
Resource Estimate") for the Company's 100%-owned McIlvenna Bay
Deposit ("McIlvenna Bay" or the "Deposit") located in east-central
Saskatchewan. The 2021 Resource
Estimate outlines significant changes to the resource at McIlvenna
Bay compared to the previous resource estimate published in 2019,
with over 25,000m of infill and
expansion drilling in 36 holes were completed since the prior
estimate. To date, the Deposit has been defined by approximately
152,000m of drilling within 285
holes.
Highlights include:
- Indicated resources increased by 70% to 39.1 million
tonnes ("Mt") from 23.0Mt (see Table 1):
-
- Indicated resources now grade 1.20% copper ("Cu"), 2.16%
zinc ("Zn"), 0.41 g/t gold ("Au") and 14 g/t silver ("Ag") or 2.04%
copper equivalent ("CuEq")
- Indicated resources contain 1.03 billion pounds ("Blbs")
Cu, 1.9Blbs Zn, 510 thousand ounces ("koz") Au and 18.1 million
ounces ("Moz") Ag
- Inferred resources total 5.0Mt at 0.94% Cu, 2.56% Zn,
0.17% Pb, 0.27 g/t Au and 16 g/t Ag (1.77% CuEq)
-
- Inferred resources contain 105 million pounds ("Mlbs")
Cu, 284Mlbs Zn, 40koz Au and 2.6Moz Ag
- Significant Increase in Indicated Contained
Metal
-
- 74% increase in contained Cu, 21% increased in contained
Zn, 58% increase in contained Au and 47% increase in contained Ag
relative to the 2019 Resource estimate
- Mineralization Starts Near Surface and Remains Open at
Depth
-
- Mineralization begins ~25m below surface and extends
down-plunge approximately 2km, where it remains open in all
directions
- Feasibility Study Remains on Track and 2022 Regional
Exploration Campaign Planning Underway
-
- The updated resource estimate and increased indicated
resources will underpin the coming feasibility study and could
support potential mine life extensions
Dan Myerson, CEO &
Executive Chairman, commented "As demonstrated by the incredible
success of our 2021 infill program, McIlvenna Bay has now proved
itself to be a high-quality, large and cohesive deposit, that will
act as the first mining operation for our planned and scalable
centralized processing facility at the Hanson Lake District. The
significant increase in indicated resources from our ~25,000m
program in 2021 is a testament to the skill and efforts of our
world-class exploration team and showcases the continuous nature of
the deposit, which remains open and has the potential to grow. We
are now integrating the data from this resource estimate into our
coming feasibility study and are planning for an aggressive and
exciting exploration program in 2022."
Additional Details
The mineral resource estimate was completed by Micon
International Limited ("Micon") and verified by Mr. William J. Lewis, P.Geo. of Micon, independent
of Foran and a Qualified Person as defined within National
Instrument 43-101 ("NI43-101"). The 2021 Resource Estimate will be
used to support the upcoming feasibility study ("Feasibility
Study"). The 2021 Resource Estimate is summarized in Table
1. See below for additional information with respect
to Qualified Person, Estimation Methodology and
Parameters.
Table 1. McIlvenna Bay 2021 Mineral Resource
Estimate (US$60/t
NSR cut-off) 1-6
Zone
|
Tonnage
(Mt)
|
NSR
($US)
|
Cu
(%)
|
Zn
(%)
|
Pb (%)
|
Au
(g/t)
|
Ag
(g/t)
|
CuEq (%)
|
INDICATED
|
|
Main Lens
Massive
Sulphide
|
10.8
|
199
|
1.01
|
6.17
|
0.41
|
0.53
|
27
|
3.13
|
Lens 3
|
2.6
|
113
|
0.82
|
3.07
|
0.14
|
0.25
|
15
|
1.80
|
Stringer Zone
|
1.2
|
119
|
1.26
|
0.52
|
0.07
|
0.31
|
13
|
1.53
|
Copper Stockwork Zone
|
22.7
|
127
|
1.31
|
0.38
|
0.02
|
0.37
|
9
|
1.60
|
Copper Stockwork
Footwall Zone
|
1.8
|
141
|
1.42
|
0.59
|
0.04
|
0.45
|
9
|
1.79
|
TOTAL INDICATED
|
39.1
|
146
|
1.20
|
2.16
|
0.14
|
0.41
|
14
|
2.04
|
|
|
INFERRED
|
|
Main Lens
Massive
Sulphide
|
1.6
|
163
|
0.65
|
6.51
|
0.46
|
0.29
|
28
|
2.66
|
Copper Stockwork Zone
|
3.5
|
106
|
1.08
|
0.79
|
0.03
|
0.25
|
11
|
1.37
|
TOTAL INFERRED
|
5.0
|
123
|
0.94
|
2.56
|
0.17
|
0.27
|
16
|
1.77
|
1 Effective date September 6, 2021; CIM
definitions were followed for Mineral Resources; CuEq = copper
equivalent; NSR = Net Smelter Return. Totals may not add due to
rounding.
|
2 The base case mineral resource is
estimated based on 240 diamond drill holes and a NSR cut-off value
of US$60/t. NSR value was calculated using Cu, Zn, Au, Ag and
high-grade caps were applied as per the discussion in Estimation
Methodology and Parameters below and include provisions for
metallurgical recovery and estimates of current shipping terms and
smelter rates for similar concentrates. Metal prices used are
US$4.25/lb. Cu, US$1.35/lb. Zn, US$1,800/oz. Au, and US$25.00/oz.
Ag, versus US$3.30/lb. Cu, US$1.25/lb. Zn, US$1,310/oz. Au and
US$16.20/oz. Ag, used for the previous resource estimate in 2019.
Specific gravity was interpolated for each block based on
measurements taken from core specimens, with an average value of
3.59 for the main Massive Sulphide ("MS") lens and 2.87 for the
Copper Stockwork Zone ("CSZ")
|
3 Mr. William J. Lewis, P.Geo., of
Micon, has reviewed and verified this mineral resource estimate.
Mr. Lewis is independent of Foran and is a "Qualified Person"
within the meaning of NI 43-101.
|
4Mineral resources which are not mineral
reserves do not have demonstrated economic viability. The estimate
of mineral resources may be materially affected by environmental,
permitting, legal, marketing or other issues. Due to the
uncertainty which may attach to inferred mineral resources, it
cannot be assumed that all or any part of an inferred mineral
resource will be upgraded to an indicated or measured mineral
resource as a result of continued exploration.
|
5CuEq values were calculated from the
NSR values for each zone using both concentrate and recovery curves
that were developed during Pre-Feasibility level metallurgical
studies.
|
6A sensitivity table is provided in
Figure 2 below which demonstrates the variation in tonnage and
grade for the main zones MS and CSZ at different NSR
cut-offs.
|
Figure 1. Change in Indicated Resource Tonnage (2021
Estimate vs 2019 Estimate)
(US$60/t NSR cut-off)
The 2021 Resource Estimate builds on and supersedes the
previous comprehensive National Instrument 43-101 ("NI 43-101")
mineral resource estimate for the Deposit which was announced by
the Company on May 28, 2019 (the
"2019 Resource"). The 2021 Resource Estimate is
estimated using long-term metal price projections of US$4.25/lb Cu, US$1.35/lb Zn, US$1,800/oz Au and US$25.00/oz Ag. The base case uses a US$60/t NSR cut-off using provisions for
metallurgical recoveries, smelter payables, refining costs,
freight, and applicable royalties, consistent with the cut-off used
for the 2019 Resource.
Figure 2. Main Lens (MS) and CSZ Tonnage & NSR
Curve using Indicated and Inferred
Resources
(US$60/t NSR cut-off)
Figure 3. Undeveloped Primary Copper VHMS Deposits in
Top-Tier Jurisdictions
1 Undeveloped primary-copper VHMS projects located in
Canada, US, Europe, or Australia; excluding outliers at
>120Mt.
2 Circle size indicates CuEq contained metal and calculated at
US$4.25/lb Cu, US$1.35/lb Zn, US$1.00/lb Pb, US$1,800/oz Au and
US$25/oz Ag.
Source: SNL Metals & Mining.
|
|
|
Mineralization
The 2021 Resource Estimate includes several zones and two
distinct styles of mineralization, typical of volcanic-hosted
massive sulphide ("VHMS") deposits:
- massive to semi-massive sulphide mineralization in the
Main Lens and Lens 3
- stockwork-style sulphide mineralization in the Copper
Stockwork Zone ("CSZ") that directly underlies the Main
Lens;
- two other small lenses of stockwork-style mineralization
occur in the Deposit:
-
- the Stringer Zone, which is located between the Main Lens
and Lens 3
- the Copper Stockwork Footwall Zone ("CSFWZ")
which occurs as a separate lens underneath the CSZ for
approximately 150m of strike length
which could represent a fault offset and repetition of the Main
Lens and CSZ.
The Main Lens at McIlvenna Bay is a large massive to
semi-massive sulphide horizon containing a metal zonation
consisting of Cu-Au-rich material near the upper plunge line of the
Deposit which transitions down dip into a more Zn-Ag-dominant
massive sulphide. The Main Lens massive sulphide is a continuous
mineralized horizon which varies from 0.1 to
18.0m in true thickness and averages
3.5m overall, with a strike length of
1,850m (Figure 5).
The CSZ is a zone of stockwork style copper-rich
mineralization that directly underlies and is in contact with the
massive sulphide and is interpreted to represent the feeder zone to
the massive sulphide system. The CSZ varies from 0.3 to
26m in true thickness with an average
thickness of 12.0m. The Main Lens
massive sulphide and the underlying CSZ are generally in contact
with one another throughout the Deposit, giving the bulk of the
Deposit an average thickness of 15.5m
overall. The Deposit plunges at approximately 45 degrees from
surface for a down plunge length of approximately 2,000m (Figure 6).
Lens 3 sits approximately 10 to 30m in the hanging wall above the Main Lens and
demonstrates the presence of stacked sulphide lenses in the
Deposit. This lens has been traced intermittently
along a strike length of 1,600m and
plunges parallel to the underlying Main Lens and CSZ. The lens
ranges in thickness from 0.1 to 8.0m
and averages 2.0m in true thickness.
The Stringer Zone is a narrow intermittent lens of stringer-style
sulphide that occurs sporadically between the Main Lens and Lens 3
through the Deposit. The zone has a strike length of 850m and averages 4.5m in true thickness through the
deposit.
The CSFWZ is a separate lens that underlies the CSZ and
has been intersected in nine drill holes over approximately
150m of strike length in the up-dip,
central part of the Deposit. The lens varies in thickness from 0.3
to 38m with an average thickness of
30m. The CSFWZ dominantly consists of
stockwork style copper-rich mineralization similar to the CSZ,
although in several holes, narrow massive sulphide was also
intersected at the top of the interval. It is possible that the
CSFWZ represents a fault offset and repetition of the Main Lens and
CSZ, but further drilling is required to prove the relationship of
this lens to the rest of the Deposit.
Contained Metal
There has been substantial growth in the McIlvenna Bay
resource since the 2019 Resource Estimate was issued including a
74% increase in contained Cu, 21% in contained Zn, 47% increase in
contained Ag and 58% increase in contained Au. See Table 2 below
outlining the contained metal in the 2021 Resource
Estimate.
Table 2. 2021 Resource Estimate - Contained
Metal (US$60/t NSR
cut-off) 1, 2
2021
|
|
|
|
|
|
|
Zone
|
Resource
Classification
|
Cu
Mlbs
|
Zn
Mlbs
|
Ag
Moz
|
Au
Moz
|
Pb3
Mlbs
|
Main Lens
Massive
Sulphide
|
Indicated
|
238
|
1,462
|
9.2
|
0.18
|
98
|
Inferred
|
22
|
224
|
1.4
|
0.01
|
16
|
Lens 3
|
Indicated
|
47
|
174
|
1.2
|
0.02
|
8
|
Stringer Zone
|
Indicated
|
33
|
14
|
0.5
|
0.01
|
2
|
Copper Stockwork Zone
|
Indicated
|
659
|
190
|
6.7
|
0.27
|
10
|
Inferred
|
83
|
60
|
1.2
|
0.03
|
3
|
Copper Stockwork
Footwall Zone
|
Indicated
|
56
|
23
|
0.5
|
0.03
|
2
|
TOTAL CONTAINED METAL
|
Indicated
|
1,033
|
1,863
|
18.1
|
0.51
|
119
|
Inferred
|
105
|
284
|
2.6
|
0.04
|
19
|
1 Totals may not add due to
rounding
|
2 See footnotes 1-5 for Table
1
|
3 Pb is not recoverable, is listed for
informative purposes only
|
Figure 4. Plan Map
Figure 5. Long
Section – Massive Sulphide Mineral Resources
Figure 6. Long
Section – Copper Stockwork Mineral Resources
Sensitivity Analysis
A sensitivity analysis is provided in Table 3 below for
the indicated and inferred resources for the 2021 Resource
Estimate, which demonstrates the variation in grade and tonnage in
the deposit as a result of employing different NSR
cut-offs.
Table 3. Mineral Resource Estimate Sensitivity
Analysis1
Zone
|
Tonnage
(MT)
|
NSR
($US)
|
Cu
(%)
|
Zn
(%)
|
Pb
(%)
|
Au
(g/t)
|
Ag
(g/t)
|
CuEq
(%)
|
US$75/T NSR cut-off
|
Total Indicated
|
35.7
|
154
|
1.24
|
2.31
|
0.15
|
0.43
|
15
|
2.14
|
Total Inferred
|
4.3
|
133
|
0.98
|
2.86
|
0.18
|
0.29
|
17
|
1.91
|
|
US$60/T NSR cut-off (Base case)
|
Total Indicated
|
39.1
|
146
|
1.20
|
2.16
|
0.14
|
0.41
|
14
|
2.04
|
Total Inferred
|
5.0
|
123
|
0.94
|
2.56
|
0.17
|
0.27
|
16
|
1.77
|
|
US$45/T NSR cut-off
|
Total Indicated
|
40.9
|
142
|
1.17
|
2.09
|
0.13
|
0.40
|
14
|
1.98
|
Total Inferred
|
5.3
|
119
|
0.93
|
2.44
|
0.16
|
0.26
|
15
|
1.71
|
1 See footnotes 1-5 for Table
1
|
The base case presented in this release is estimated using
a US$60/t NSR cut-off which was
selected as being representative of the comparable North American
operations.
Qualified Persons
The 2021 Resource Estimate meets the guidelines as set out
in NI43-101 and was completed and verified by Micon, a global
geological and mining consultancy. The 2021 Resource Estimate was
verified by Mr. William J. Lewis,
P.Geo. Mr. Lewis is a Qualified Person as defined in NI43-101 and
has consented to applicable disclosure contained herein regarding
the 2021 Resource Estimate.
Mr. Roger March, P. Geo.,
Senior Geoscientist for Foran, is the Qualified Person for all
technical information in this news release, excluding the 2021
Resource Estimate. Mr. March has reviewed and approved the
technical information in this release.
Estimation Methodology and Parameters
The 2021 Resource Estimate update included a
re-interpretation of the mineralized envelopes in the Deposit
following the incorporation of over 25,000m of diamond drilling completed since the
2019 Resource. The 2021 Resource Estimate was carried out using a
block model constrained by 3D wireframes of the mineralized
zones. Values for Cu, Zn, Au, Ag, and Pb were interpolated
into the blocks using Ordinary Kriging, with validation estimates
using ID2 and nearest-neighbour performed to confirm
results. Block size was 10m wide
(east-west) x 2m across (north-south)
x 10m high. The models were
constructed using Leapfrog Edge software. The 2021 Resource
Estimate has an effective date of September
6, 2021.
The 2021 Resource Estimate is
based entirely on diamond drilling data. The database contained
records for 285 diamond drillholes (including nine short geotech
holes) of which 240 intersect the deposit, with a total of 5,652
assay intervals. Top cuts were applied to composites as required. A
1.0m composite length was used for
all domains at McIlvenna Bay (respecting the original mean sample
length), within the domains <0.5m
end length samples were distributed equally.
Implicit modelling was used to dynamically generate
wireframes using the mineralized intercepts as defined by the
interpretation for each domain on 25m
cross sections. In constructing these models, a 0.5% Cu cut-off was
used for compositing the intercepts in the interpretation of the
CSZ, while the logged geological intervals were used to constrain
the intercept lengths for the massive and semi-massive sulphide
zones. The $60/t NSR cut-off was
derived by Micon based on comparable projects in North America, taking into account provisions
for milling, G&A, and direct mining costs (i.e. no
development). Density was interpolated into each block using ID0
(moving average) based on specific gravity measurements collected
from core samples.
The Mineral Resources were classified using the following
criteria:
- Resources were classified as indicated in the core of the
Deposit, where the nominal drill hole spacing is 100m within the CSZ and 120m in the massive sulphide lens. The
classification reflects not only the drill spacing, but the
confidence level in the continuity of the grade and the geometry of
the Deposit.
- Resources classified as inferred were defined by blocks
which were estimated with less stringent requirements within search
ellipses defined for each domain to a maximum distance of
250 m in both the massive and
semi-massive sulphide and stockwork bodies.
In Micon's opinion, the Mineral Resources are classified
in a manner that is consistent the May 10,
2014 CIM Definition Standards for Mineral Resources and
Mineral Reserves. Mineral resources do not have demonstrated
economic viability. In Micon's opinion, there are currently no
relevant factors or issues that effect the 2021 Resource Estimate,
however, there is no guarantee that the Deposit will be placed into
production.
Quality Assurance and Quality Control
For drilling conducted by Foran and its consultants since
2011, an independent QA/QC protocol, consisting of blanks,
standards, and duplicates introduced into the sample stream for
each batch of samples processed by the laboratory and the results
of the assaying of the QA/QC material included in each batch are
tracked to ensure the integrity of the assay data. Sample analysis
was performed by TSL Laboratories Ltd. ("TSL") in Saskatoon, Saskatchewan. TSL is a CAN-P-1579,
CAN-P-4E (ISO/IEC 17025:2005) accredited laboratory and independent
of Foran.
Micon reviewed the QA/QC reports from these programs and
noted that there were no issues that arose which would affect
confidence with the assay data. Micon considers the sampling method
appropriate for the deposit type, adequate security measures were
maintained, and samples should be representative of the
mineralization.
About Foran Mining
Foran Mining is a copper-zinc-gold-silver exploration and
development company, committed to supporting a greener future,
empowering communities and creating circular economies which create
value for all our stakeholders, while also safeguarding the
environment.
Our goal is to build the first mine in Canada designed to be carbon neutral from day
one of production. We are in the feasibility stage of development
for our flagship McIlvenna Bay project in eastern Saskatchewan.
McIlvenna Bay is a copper-zinc-gold-silver rich VHMS
deposit intended to be the center of a new mining camp in a
prolific district that has already been producing for 100 years.
McIlvenna Bay sits just 65km from Flin
Flon, Manitoba and is part of the world class Flin Flon
Greenstone Belt that extends from Snow
Lake, Manitoba, through Flin
Flon to Foran's ground in eastern Saskatchewan, a distance of over
225km.
McIlvenna Bay is the largest undeveloped VHMS deposit in
the region. The Company filed a NI 43-101 Technical Report for the
PFS on the McIlvenna Bay Deposit on SEDAR on April 28, 2020. Foran's copper-zinc Bigstone
Deposit is expected to serve as additional feed for the mill at
McIlvenna Bay. The Company filed a NI 43-101 Technical Report for
the Bigstone Deposit's first resource estimate on January 21, 2021.
William J Lewis, P.Geo. of Micon and a Qualified Person
within the meaning of NI43-101, has reviewed and approved the 2021
Resource Estimate information in this release.
Mr. Roger March, P. Geo.,
Senior Geoscientist for Foran, is the Qualified Person for all
technical information in this news release, excluding the 2021
Resource Estimate. Mr. March has reviewed and approved the
technical information in this release.
Foran trades on the TSX.V under the symbol "FOM" and on
the OTCQX under the symbol "FMCXF".
Neither the TSX-V nor its Regulation Services Provider (as
that term is defined in the policies of the TSX-V) accepts
responsibility for the adequacy of this release. No stock exchange,
securities commission or other regulatory authority has approved or
disapproved the information contained herein.
CAUTIONARY NOTE REGARDING FORWARD LOOKING
STATEMENTS
This news release contains "forward-looking information"
(also referred to as "forward looking statements"), which relate to
future events or future performance and reflect management's
current expectations and assumptions. Often, but not always,
forward-looking statements can be identified by the use of words
such as "plans", "hopes", "expects", "is expected", "budget",
"scheduled", "estimates", "forecasts", "intends", "anticipates", or
"believes" or variations (including negative variations) of such
words and phrases, or state that certain actions, events or results
"may", "could", "would", "might" or "will" be taken, occur or be
achieved. Such forward-looking statements reflect management's
current beliefs and are based on assumptions made by and
information currently available to the Company. All statements,
other than statements of historical fact, are forward-looking
statements or information. Forward-looking statements or
information in this news release relate to, among other things:
complete the feasibility study in a timely manner, and the
anticipated capital and operating costs, sustaining costs, net
present value, internal rate of return, payback period, process
capacity, average annual metal production, average process
recoveries, anticipated mining and processing methods, proposed PFS
production schedule and metal production profile, anticipated
construction period, anticipated mine life, expected recoveries and
grades, anticipated production rates, infrastructure, social and
environmental impact studies, future financial or operating
performance of the Company, subsidiaries and its projects,
estimation of mineral resources, exploration results, opportunities
for exploration, development and expansion of the McIlvenna Bay
Project, its potential mineralization, the future price of metals,
the realization of mineral reserve estimates, costs and timing of
future exploration, the timing of the development of new deposits,
requirements for additional capital, foreign exchange risk,
government regulation of mining and exploration operations,
environmental risks, reclamation expenses, title disputes or
claims, insurance coverage and regulatory matters. In addition,
these statements involve assumptions made with regard to the
Company's ability to develop the McIlvenna Bay Project and to
achieve the results outlined in the PFS, and the ability to raise
capital to fund construction and development of the McIlvenna Bay
Project.
These forward-looking statements and information reflect
the Company's current views with respect to future events and are
necessarily based upon a number of assumptions that, while
considered reasonable by the Company, are inherently subject to
significant operational, business, economic and regulatory
uncertainties and contingencies. These assumptions include: our
mineral reserve and resource estimates and the assumptions upon
which they are based, including geotechnical and metallurgical
characteristics of rock confirming to sampled results and
metallurgical performance; tonnage of ore to be mined and
processed; ore grades and recoveries; assumptions and discount
rates being appropriately applied to the technical studies; success
of the Company's projects, including the McIlvenna Bay Project;
prices for zinc, copper, gold and silver remaining as estimated;
currency exchange rates remaining as estimated; availability of
funds for the Company's projects; capital decommissioning and
reclamation estimates; mineral reserve and resource estimates and
the assumptions upon which they are based; prices for energy
inputs, labour, materials, supplies and services (including
transportation); no labour-related disruptions; no unplanned delays
or interruptions in scheduled construction and production; all
necessary permits, licenses and regulatory approvals are received
in a timely manner; and the ability to comply with environmental,
health and safety laws. The foregoing list of assumptions is not
exhaustive.
The Company cautions the reader that forward-looking
statements and information include known and unknown risks,
uncertainties and other factors that may cause actual results and
developments to differ materially from those expressed or implied
by such forward-looking statements or information contained in this
news release and the Company has made assumptions and estimates
based on or related to many of these factors. Such factors include,
without limitation: the projected and actual effects of the
COVID-19 coronavirus on the factors relevant to the business of the
Corporation, including the effect on supply chains, labour market,
currency and commodity prices and global and Canadian capital
markets, fluctuations in zinc, copper, gold and silver prices;
fluctuations in prices for energy inputs, labour, materials,
supplies and services (including transportation); fluctuations in
currency markets (such as the Canadian dollar versus the U.S.
dollar); operational risks and hazards inherent with the business
of mining (including environmental accidents and hazards,
industrial accidents, equipment breakdown, unusual or unexpected
geological or structure formations, cave-ins, flooding and severe
weather); inadequate insurance, or the inability to obtain
insurance, to cover these risks and hazards; our ability to obtain
all necessary permits, licenses and regulatory approvals in a
timely manner; changes in laws, regulations and government
practices in Canada, including
environmental, export and import laws and regulations; legal
restrictions relating to mining; risks relating to expropriation;
increased competition in the mining industry for equipment and
qualified personnel; the availability of additional capital; title
matters and the additional risks identified in our filings with
Canadian securities regulators on SEDAR in Canada (available at
www.sedar.com). Although the Company has
attempted to identify important factors that could cause actual
results to differ materially, there may be other factors that cause
results not to be as anticipated, estimated, described or intended.
Investors are cautioned against undue reliance on forward-looking
statements or information.
These forward-looking statements are made as of the date
hereof and, except as required by applicable securities
regulations, the Company does not intend, and does not assume any
obligation, to update the forward-looking information.
SOURCE Foran Mining Corporation