VANCOUVER, BC, May 9, 2024
/CNW/ - Foran Mining Corporation (TSX: FOM) (OTCQX: FMCXF) ("Foran"
or the "Company") is pleased to announce the voting results from
the Company's annual and special meeting of shareholders of the
Company held on May 9th,
2024 (the "Meeting").
A total of 171,528,263 common shares of the Company were
represented at the Meeting, representing 56.2% of the Company's
outstanding common shares as at the record date of March 25, 2024. Shareholders voted in favour of
all matters brought before them at the Meeting, which matters are
discussed in detail in the Company's Management Information
Circular dated April 3, 2024 that is
available on SEDAR+ at www.sedarplus.ca and the Company's
website at www.foranmining.com.
The following voting results are based on the total number of
votes that were cast at the Meeting:
|
Appointment of
Auditors
|
For
|
Withheld
|
Outcome
|
|
Appoint KPMG LLP,
Auditors of the Company for the ensuing year and to authorize
Directors to fix their remuneration
|
170,937,397
(99.7 %)
|
590,866
(0.3 %)
|
Carried
|
|
Number of
Directors
|
For
|
Against
|
Outcome
|
|
Set the number of
directors at seven (7)
|
171,527,123
(100.0 %)
|
1,140
(0.0 %)
|
Carried
|
|
Election of
Directors
|
For
|
Withheld
|
Outcome
|
|
Elect the following
nominees as directors of the Company
|
|
|
|
|
Maurice
Tagami
|
170,372,617
(99.3 %)
|
1,155,646
(0.7 %)
|
Carried
|
|
David
Petroff
|
171,527,394
(100.0 %)
|
869
(0.0 %)
|
Carried
|
|
Daniel
Myerson
|
171,280,930
(99.9 %)
|
247,333
(0.1 %)
|
Carried
|
|
Wayne
Wouters
|
154,744,372
(90.2 %)
|
16,783,891
(9.8 %)
|
Carried
|
|
Majd Bakar
|
170,228,127
(99.2 %)
|
1,300,136
(0.8 %)
|
Carried
|
|
Jessica
McDonald
|
170,230,168
(99.2 %)
|
1,298,085
(0.8 %)
|
Carried
|
|
Nancy Guay
|
171,370,029
(99.9 %)
|
158,234
(0.1 %)
|
Carried
|
|
Employee Share
Purchase Plan
|
For
|
Against
|
Outcome
|
|
Approve the Company's
Employee Share Purchase Plan
|
150,216,498
(87.6 %)
|
21,311,765
(12.4 %)
|
Carried
|
|
Alteration to
Articles
|
For
|
Against
|
Outcome
|
|
Approve the alteration
of the Company's Articles to remove the provisions of Section 15
which permit the appointment of alternate directors
|
149,596,384
(87.2 %)
|
21,931,879
(12.8 %)
|
Carried
|
A report on all items of business voted at the Meeting has been
filed on SEDAR+ (www.sedarplus.ca).
About Foran Mining
Foran Mining Corporation 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, comprises the infrastructure and
works related to pre-development and advanced exploration
activities of the Company, and hosts the McIlvenna Bay Deposit and
Tesla Zone. The Company also owns the Bigstone Deposit, a
resource-development stage deposit located 25km southwest of the
McIlvenna Bay Property.
The McIlvenna Bay Deposit 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.
The McIlvenna Bay Property 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.
The McIlvenna Bay Deposit is the largest undeveloped VHMS
deposit in the region. The Company announced the results from its
NI 43-101 compliant Technical Report on the Feasibility Study for
the McIlvenna Bay Deposit (the "McIlvenna 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 the McIlvenna
Feasibility Study on April 14, 2022,
with an effective date of February 28,
2022. The Company also filed a NI 43-101 Technical Report
for the Bigstone Deposit resource estimate on January 21, 2021, as amended on February 1, 2022. Investors are encouraged to
consult the full text of these technical reports which may be found
on the Company's profile on www.sedarplus.ca.
The Company's head office is located at 409 Granville Street,
Suite 904, Vancouver, BC,
Canada, V6C 1T2. Common Shares of
the Company are listed for trading on the TSX under the symbol
"FOM" and on the OTCQX under the symbol "FMCXF".
SOURCE Foran Mining Corporation