Peterson McVicar Acts for Foran in Upsize to Previously Announced Brokered Private Placement to C$100 Million

On March 15, 2023 Foran Mining Corporation. (“Foran” or the “Company") is pleased to announce that
in connection with the proposed private placement (the “Offering”) announced on March 13, 2023 and
March 14, 2023, the Company entered into an amending agreement with Eight Capital, Goldman Sachs
Canada Inc., and PI Financial Corp., as co-lead agents and joint bookrunners, on behalf of a syndicate of
agents (together the “Agents”), to increase the size of the Offering from C$75.0 million to C$100.0
million.
The upsized Offering will now consist of (i) up to 20,270,300 common shares of the Company (the
“Common Shares”) at an issue price of C$3.70 per Common Share, for gross proceeds of up to
C$75,000,110; and (ii) up to 4,417,000 Common Shares with each such Common Share to be issued as a
“flow-through share” within the meaning of the Income Tax Act (Canada) (the “FT Shares”) at an issue
price of C$5.66 per FT Share, for gross proceeds of up to C$25,000,220.
The net proceeds of the Offering will be used for exploration and development of the Company’s
mineral projects in Saskatchewan, and for working capital and general corporate purposes.
Foran Mining (TSXV: FOM) (OTCQX: FMCXF) 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.

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