VANCOUVER, BC, March 24, 2021 /CNW/ - Foran Mining
Corporation (TSXV: FOM) ("Foran" or the "Company"), is pleased
to announce the appointment of Jean
Rogers, PhD, PE, to its board of directors as Non-Executive
Director. Dr. Rogers brings a wealth of experience to the
board with almost 20 years of experience at the forefront of the
development of ESG ("Environment, Social and Governance") standards
and principles.
Dr. Rogers is the founder and former CEO of the Sustainability
Accounting Standards Board ("SASB"), an independent non-profit,
organisation that develops sustainability accounting standards and
sector-specific Key Performance Indicators (KPIs) for
sustainability. Under Dr. Rogers' leadership (2010-2018), SASB
become the gold standard for disclosure of ESG risks recognized by
long-term institutional investors globally and developed
sustainability accounting standards for 79 industries with the
involvement of 3,000 stakeholders. Dr. Rogers is also a strategic
advisor to the 'Long Term Stock Exchange' and was named by Barron's
as one of the Top 20 Influencers of Sustainable Investing in
2018.
Dr. Jean Rogers, Non-Executive
Director of Foran commented:
"With the acceleration of the inevitable clean energy
transition, investors are realizing that sustainable mining is
central to the viability of a decarbonized future. Our
earth's mineral resources such as copper and zinc are critical
elements of the electrification of our economy. I am very much
looking forward to working with the leadership team at Foran to
build a resilient company that exemplifies sustainable operating
practices for the mining industry, rises to the clean technology
challenge, and maximizes value for shareholders, stakeholders, and
society."
Dan Myerson, Executive
Chairman of Foran commented:
"We are thrilled to welcome Dr. Rogers to the board. She is a
true pioneer in the ESG advisory space having been an inspirational
leader in sustainable development for nearly 20 years, focused on
integrating ESG standards into the capital markets. As we develop a
blueprint for the future of responsible mining with robust ESG
principles at its heart, having the right team in place to achieve
our vision is crucial.
Dr. Rogers' extensive, hands-on experience measuring and
managing environmental impacts, developing carbon neutral plans for
cities and companies, and evaluating ESG risks and opportunities
will be invaluable as we create a clean tech sustainable paradigm
for the mining industry. With ESG rightfully becoming an urgent
focus for investors, government and the public, Dr. Rogers' deep
and granular understanding of ESG implementation in a
diverse range of industries will be instrumental in achieving our
long-term vision and creating real value for our shareholders and
the communities in which we operate for generations to
come."
Prior to founding SASB, Dr. Rogers worked for more than a
decade in sustainable development for Arup, a global engineering
consultancy, and for Deloitte in management consulting. She
is a registered professional engineer in the State of California. Dr. Rogers holds
undergraduate and graduate degrees in civil and environmental
engineering, and she is a former Loeb Fellow at Harvard
University. Dr. Rogers is a recipient of INSEAD's Society for
Progress Medal, an advisor to INSEAD's Hoffmann Global Institute
for Business and Society, and a visiting fellow at the Harvard
Kennedy School where she works with social entrepreneurs.
In conjunction with Dr. Roger's appointment, and in accordance
with its Long-Term Performance Incentive Plan, the Company has
granted a total of 200,000 incentive stock options which are
exercisable into common shares of Foran at an exercise price of
$1.05 per share, subject to certain
vesting requirements and with an expiry of March 24, 2026.
About Foran Mining
Foran Mining is a copper-zinc-gold-silver exploration and
development company, and we are committed to supporting a greener
future, empowering communities and creating circular economies
which create value for all our stakeholders, while also
safeguarding the environment.
Foran Mining is building the first mine in Canada to be carbon neutral from day one. 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 VMS 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 VMS 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 VMS 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.
Foran trades on the TSX.V under the symbol "FOM".
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.
Forward Looking Statements
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