Google Veteran Brings Valuable Technological
Expertise to Critical Minerals Industry
VANCOUVER, BC, Feb. 23,
2023 /CNW/ - Foran Mining Corporation (TSXV:
FOM) (OTCQX: FMCXF) ("Foran" or the "Company"), is pleased to
announce the appointment of Majd
Bakar to its Board of Directors, as an Independent Director.
Mr. Bakar brings a wealth of experience and knowledge from the
technology sector to Foran's Board, spending over the past 20 years
holding key positions at Google and Microsoft.
As the current Vice President of Engineering at Google,
overseeing Fitbit and Health, Majd
Bakar is a visionary and innovator who is passionate about
creating innovative technology solutions that positively impact
society and the environment. Over the past decade at Google, Mr.
Bakar is credited with conceiving and launching Chromecast as well
as leading the engineering teams behind Google Home and Google
Wifi. Before joining Google, Mr. Bakar spent nine years at
Microsoft, where he held various roles of increasing
responsibility. He holds a Bachelor's degree in Electrical
Engineering and a Master's degree in Biomedical Engineering, both
from McGill University in Montreal.
Dan Myerson, Executive Chairman
& CEO, commented "The appointment of Majd Bakar to Foran's Board of Directors brings
a fresh, innovative perspective as we endeavour to create a new
paradigm for critical mineral production. Our objective is to help
ignite a technological revolution in the mining sector by
leveraging Majd's distinctive expertise with the aim to enhance
safety, efficiency, and profitability while targeting superior
investment returns. This move is a crucial step towards pioneering
a new era in mining and demonstrating our commitment to innovation
and progress in a decarbonizing society."
Majd Bakar, Independent Director
of Foran, commented "I am incredibly excited to join the team at
Foran and be a part of shaping the future of mining. As an industry
that plays a critical role in modern society, it's time for mining
to embrace new and innovative thinking to address the challenges of
a decarbonizing world. I am eager to apply my skillset in new and
different ways to help build Foran into a blueprint for sustainable
mining practices and a leader in the transition to a low-carbon
economy."
Concurrent with the appointment and in accordance with the
Company's Long-Term Performance Incentive Plan, the Company's Board
has granted 200,000 incentive stock options to Mr. Bakar. The stock
options are exercisable, subject to vesting provisions, over a
period of five years at an exercise price of C$3.22 per share.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
The Company's head office is located at 409 Granville Street,
Suite 904, Vancouver, BC,
Canada, V6C 1T2, and Common Shares
of the Company are listed for trading on the TSXV under the symbol
"FOM".
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. The McIlvenna Bay project is located entirely
within the documented traditional territory of the Peter Ballantyne
Cree Nation. The Company also owns the Bigstone project, a
resource-development stage deposit located 25km southwest of its
McIlvenna Bay project.
McIlvenna Bay is a copper-zinc-gold-silver rich VHMS deposit
intended to be the centre of a new mining camp in a prolific
district that has already been producing for 100 years. McIlvenna
Bay sits just 65km West of 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 announced the results from its Feasibility
Study on February 28, 2022, outlining
that current mineral reserves would potentially support an 18-year
mine life producing an average of 65 million pounds of copper
equivalent annually. The Company filed a NI 43-101 Technical Report
for the McIlvenna Bay Feasibility Study on April 14, 2022. The Company filed a NI 43-101
Technical Report for the Bigstone Deposit resource estimate on
February 11, 2022. Investors are
encouraged to consult the full text of these technical reports
which may be found on the Company's profile on www.sedar.com.
Foran trades on the TSX.V under the symbol "FOM" and on the
OTCQX under the symbol "FMCXF".
SOURCE Foran Mining Corporation
