Foran Mining has announced the completion of the strategic 100 million dollar private placement by certain entities controlled by Fairfax Financing Holdings Limited.  The net proceeds of the financing will be used to rapidly advance the development of the McIlvenna Bay Project and centralized mill for the Hanson Lake Project 65 kilometers west of Flin Flon as well as further exploration on the Company’s substantial land holdings, enable further investment in key technological and operational research and equipment and for general corporate purposes.

Executive Chair of Foran Dan Myerson says they appreciate the strong support as they pursue their vision to build Canada’s first carbon neutral copper mine in the emerging and prolific Hanson Lake District.  He adds this investment and partnership is a defining moment for Foran and one that will shape our future for many decades to come elevating us onto the world stage.