Foran Reports 2012 Year End Results & Granting of Stock Options

Foran Reports 2012 Year End Results & Granting of Stock Options 
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 01/25/13 -- Foran
Mining Corporation (TSX VENTURE:FOM) ("Foran" or the "Company") today
announced financial results and a summary of highlights and key
developments for the year ended September 30, 2012. 
Chronological Summary of Highlights & Key Developments: 


 
--  In October 2011, the Company completed a 1,587 line kilometre versatile
    time-domain electromagnetic ("VTEM") helicopter-borne geophysical survey
    over portions of its McIlvenna Bay, Balsam and Hanson properties not
    previously surveyed by the Company. An additional 1,117 line kilometre
    VTEM Survey was flown on the Company's Bigstone property;  
--  In November 2011, the Company increased its interest in the Balsam
    property to 100% by purchasing Anthem Resources Incorporated's 50%
    interest in consideration for 133,333 common shares of the Company at a
    fair value of $0.75 per share for total consideration of $100,000; 
--  In November 2011, the Company released a new Copper Stockwork Zone
    resource on its McIlvenna Bay deposit, which resulted in a more than 80%
    tonnage increase in the indicated category and a 60% tonnage increase in
    the inferred category from the previous resource estimate completed in
    2006; 
--  From August to November 2011, the Company successfully conducted a
    summer-fall 2011 drill program on its McIlvenna Bay deposit, which
    totaled 8,158 metres in 18 drill holes; 
--  From February to April 2012, the Company conducted a winter drill
    program on its McIlvenna Bay deposit which consisted of 3,813 metres in
    15 drill holes and focused on areas that were better accessed when the
    ground is frozen. Following this drill program, a further 2,387 metres
    of drilling in 8 holes was completed to test regional VTEM targets on
    the Company's McIlvenna Bay and Bigstone properties; 
--  In March 2012, the Company increased its interest in the Bigstone
    property to 100% by purchasing Cameco Corporation's 34.33% interest in
    consideration for a cash payment of $50,000; 
--  In June 2012, the Company announced positive results from initial
    metallurgical testwork from the three main styles of mineralization at
    the McIlvenna Bay deposit; 
--  In August 2012, the Company completed a private placement consisting of
    5,719,769 non flow-through units at $0.58 per unit and 2,648,077 flow-
    through shares at $0.65 per share for gross proceeds of $5.04 million; 
--  As at September 30, 2012, the Company had cash and cash equivalents of
    $9.6 million (2011: $12.3 million) and working capital of $9.3 million
    (2011: $10.7 million). 

 
For the year ended September 30, 2012, the Company recorded a net
loss of $1.4 million or $0.02 per share (basic and diluted). This
compares to a net loss of $2.5 million or $0.04 per share (basic and
diluted) for the year ended September 30, 2011. 
A complete set of the Company's audited consolidated Financial
Statements and related notes for the year ended September 30, 2012
and Management's Discussion and Analysis will be posted on the
Company's website at www.foranmining.com and filed on SEDAR at
www.sedar.com.  
The Company today also announced that it has granted 1,280,000
incentive stock options to Directors, Officers, Employees and a
Consultant of the Company. The options are set for a period of five
years, expiring on January 24, 2018, and will allow the holder to
purchase a share in the Company at a price of $0.59. 
About Foran Mining  
Foran is a diversified exploration and development company with
projects in the Flin Flon Mining Belt. The Company's flagship
McIlvenna Bay property is located in east central Saskatchewan, 65 km
west of Flin Flon, Manitoba and contains McIlvenna Bay, one of the
largest undeveloped VMS deposits in Canada.  
Foran trades on the TSX.V under the symbol "FOM".  
Forward Looking Statements  
This news release contains forward-looking statements. These
statements are based on information currently available to the
Company and the Company provides no assurance that actual results
will meet management's expectations. Forward-looking statements
include estimates and statements that describe the Company's future
plans, objectives or goals, including words to the effect that the
Company or management expects a stated condition or result to occur.
Forward-looking statements may be identified by such terms as
"believes", "anticipates", "expects", "estimates", "may", "could",
"would", "will", or "plan". Since forward-looking statements are
based on assumptions and address future events and conditions, by
their very nature they involve inherent risks and uncertainties.
Actual results relating to, among other things, results of
exploration, project development, reclamation and capital costs of
the Company's mineral properties, and the Company's financial
condition and prospects, could differ materially from those currently
anticipated in such statements for many reasons such as: changes in
general economic conditions and conditions in the financial markets;
changes in demand and prices for minerals; litigation, legislative,
environmental and other judicial, regulatory, political and
competitive developments; technological and operational difficulties
encountered in connection with the activities of the Company; and
other matters discussed in this news release. This list is not
exhaustive of the factors that may affect any of the Company's
forward-looking statements. These and other factors should be
considered carefully and readers should not place undue reliance on
the Company's forward-looking statements. The Company does not
undertake to update any forward-looking statement that may be made
from time to time by the Company or on its behalf, except in
accordance with applicable securities laws. 
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. 
Contacts:
Foran Mining Corporation
Patrick Soares
President & CEO
416-847-7310 
Foran Mining Corporation
Fiona Childe
VP, Corporate Development
416-847-7310
ir@foranmining.com
www.foranmining.com
 
 
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