Foran assays extend copper zone at McIlvenna Bay project in Saskatchewan

Recent drill results from the ongoing exploration campaign have successfully extended the strike length and depth of the copper zone, confirming the continuity of high-grade mineralization beyond previously defined boundaries. This expansion could enhance the scale and economics of the McIlvenna Bay deposit, part of Foran’s broader plans to develop a world-class, sustainable mining district in the Flin Flon Greenstone Belt.

“We are very pleased with these latest results,” said Dan Myerson, Executive Chairman of Foran. “They underscore the tremendous growth potential of McIlvenna Bay as we advance toward production. Our exploration program continues to deliver, adding both tonnage and grade, while aligning with our vision for a carbon-neutral operation.”

Highlights from the latest assays include:

• 22.6 meters grading 2.5% CuEq (Copper Equivalent), including 10.3 meters of 3.7% CuEq.

• Extension of the copper-rich zone by more than 150 meters down-plunge from previous intercepts.

• New mineralization remains open in multiple directions, providing further opportunity for resource expansion.

McIlvenna Bay is already one of the largest undeveloped volcanogenic massive sulphide (VMS) deposits in Canada, containing significant copper, zinc, gold, and silver. The project forms the cornerstone of Foran’s ESG-focused strategy, with plans for underground mining powered by renewable energy sources.

Located just west of Flin Flon, McIlvenna Bay is part of the emerging Hanson Lake District, which Foran is positioning as Canada’s first carbon-neutral mining camp. A feasibility study released in 2022 outlined a 14-year mine life with robust economics, and ongoing exploration suggests potential for a significantly longer operation.

Foran plans to continue step-out drilling throughout the 2025 field season, with updated resource estimates and technical studies expected in early 2026.