Mr. Dan Myerson reports

FORAN AND PETER BALLANTYNE CREE NATION SIGN LANDMARK COLLABORATION AGREEMENT

Foran Mining Corp.'s Foran's wholly owned subsidiary, McIlvenna Bay Operating Ltd. (MBO), and Peter Ballantyne Cree Nation (PBCN) have signed a landmark collaboration agreement. This pioneering partnership is a testament to a profound alignment of interests, encapsulating shared aspirations and deep respect for cultural heritage. This agreement embeds a commitment to sustainable growth and future prosperity, underpinned by principles of mutual respect and a dedication to fostering longevity across generations.

Conceived through a collaborative endeavour, this agreement strategically emphasizes education, paving the way for comprehensive upliftment of the PBCN community. By facilitating diverse training avenues, it aims to stimulate employment and business opportunities for PBCN members. Beyond these pillars, the agreement extends thoughtfully designed financial and economic benefits to further empower the PBCN community.

Dan Myerson, Foran's executive chairman and chief executive officer, commented: "I am both excited and profoundly moved to announce this landmark agreement with PBCN. This partnership is the result of truly listening to the local communities and responding with an unparalleled agreement that reflects these discussions. It speaks to our dedication to empowering the PBCN community, with a strong commitment to providing PBCN members with training and job opportunities and PBCN businesses with contracting opportunities. We believe that, in order for a company to succeed over the long run, it must build deep and meaningful relationships with local rightsholders and stakeholders and prioritize those groups' needs. This agreement with PBCN is not just about what we can achieve today, but what we can build for tomorrow. It's more than a partnership; it's a commitment to shared growth, prosperity and a legacy of success for generations to come."

"Our creator granted us the inherent right to determine our own destiny. Part of realizing our destiny is restoring prosperity to our people. This agreement ensures that our nation and our members can develop an economic base which provides prosperity and self-reliance while recognizing that we are stewards of our traditional lands," said Karen Bird, Chief of PBCN. "The financial benefits from the McIlvenna Bay project will make an important contribution to improving the quality of life of our members. The employment and contracting opportunities will provide sustainable and transferable careers and business opportunities for both individual PBCN members and PBCN businesses. While it has taken a significant amount of effort by both parties to achieve the partnership we have today, it will endure through the life of the mine. PBCN will continue to take an active role, both in collaboration with Foran, through the MBO PBCN environment committee and independently through our own community-led monitoring programs."

Foran and PBCN would like to express their gratitude for the patience, diligence and perseverance shown by all participants throughout the negotiation process. This agreement stands as a testament to the power of collaboration and mutual respect.

About Foran Mining Corp.

Foran Mining is a copper-zinc-gold-silver exploration and development company, committed to supporting a greener future, empowering communities and creating circular economies that create value for all the company's 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 25 kilometres southwest of its McIlvenna Bay project.

McIlvenna Bay is a copper-zinc-gold-silver-rich VHMS (volcanic-hosted massive sulphide) 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 65 kilometres west of Flin Flon, Man., and is part of the world-class Flin Flon greenstone belt that extends from Snow Lake, Man., through Flin Flon to Foran's ground in eastern Saskatchewan, a distance of over 225 kilometres.

McIlvenna Bay is the largest undeveloped VHMS deposit in the region. The company announced the results from its feasibility study on Feb. 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 National Instrument 43-101 technical report for the McIlvenna Bay feasibility study on April 14, 2022. The company filed an NI 43-101 technical report for the Bigstone deposit resource estimate on Feb. 11, 2022. Investors are encouraged to consult the full text of these technical reports, which may be found on the company's profile on SEDAR.

The company's head office is located at 409 Granville St., Suite 904, Vancouver, B.C., Canada, V6C 1T2. Common shares of the company are listed for trading on the Toronto Stock Exchange under the symbol FOM and on the OTCQX under the symbol FMCXF.

We seek Safe Harbor.