Foran DEEP-EM Survey Identifies Two High Priority Targets

Foran Mining Corporation (TSX VENTURE:FOM) ("Foran" or the "Company") is pleased
to announce the Company has received the results of a deep-penetrating
time-domain electromagnetic geophysical survey (the "DEEP-EM Survey") on its
McIlvenna Bay, Balsam, and Hanson properties. The DEEP-EM Survey outlined
numerous conductors, including two high-priority targets:




--  Target A: A group of conductors southeast of Foran's McIlvenna Bay
    deposit ("McIlvenna Bay" or the "Deposit") on the McIlvenna Bay
    Property. The main conductor within this target is similar in size,
    orientation and character to McIlvenna Bay and has never been drill
    tested. 
    
--  Target B: A conductor coincident with the recently discovered Thunder
    Zone on the Balsam Property. Foran's winter 2013 drill program
    intersected 4.1% Cu over 3.7m in the initial drill test of this target.



Patrick Soares, President and CEO of Foran commented "DEEP-EM surveying has
proven to be highly effective in the discovery of buried base metal deposits.
Technical advancements and optimization have contributed to significant new
discoveries in the region, including the large Lalor deposit near Snow Lake."
Mr. Soares continued, "Foran's DEEP-EM Survey has identified two previously
unrecognized high-priority targets. Target A is particularly exciting, as it has
never been drill tested and has similarities to our large McIlvenna Bay
Deposit."


McIlvenna Bay Grid - Target A 

Target A is located approximately 1.5 km southeast of the Deposit (Figure. 1).
The main electromagnetic ("EM") response within this target has a 1.2 km long
strike extent; however, Maxwell modelling suggests a potential strike length of
up to 1.6 km. 


The main conductor within Target A appears to occur at the same stratigraphic
horizon as the Deposit, with a similar orientation (strike, dip and plunge).
Geophysical modelling suggests the target is a series of sub-parallel plates
that define multiple conductor trends. The upper edges of these plates are
estimated to lie approximately 300 to 800m below surface, with the down-dip
extent of individual plates exceeding 600m. 


The source of Target A conductors cannot be definitively established without
drill testing; however the modeled plates are consistent with multiple sulphide
lenses, a feature common in volcanogenic massive sulphide ("VMS") deposits,
including those in the Flin Flon and Snow Lake areas. 


Late-time EM decay constant (Tau) calculations provide a measure of the strength
of the conductors. Maximum values of 26 to 36 milliseconds ("ms") for Target A
are significantly higher than the Deposit maximum of 14.6 ms.


Despite a long history of exploration on the McIlvenna Bay property, no drilling
has previously been conducted on Target A. Past ground-based EM surveys with
relatively shallow depth penetration failed to detect this target. Foran is
currently evaluating plans and budgets for follow-up on Target A, which could
include a further DEEP-EM Survey for target definition prior to drill testing.


Balsam Grid - Target B (Thunder Zone) 

Target B is located approximately 300m northwest of the Balsam deposit(1 )
("Balsam"), where an historic mineral resource was outlined by past operators
(Figure 1). Following the preliminary identification of Target B, near the
completion of Foran's winter 2013 drill program, the final hole in the program
was re-oriented to test this target. The resultant drill hole (BA-13-77)
intersected copper-rich massive and semi-massive sulphide mineralization in the
Thunder Zone, grading 4.1% Cu over 3.7m, including 10.6% Cu over 1.1m at a
vertical depth of approximately 300m (see the Foran news release dated April 8,
2013).


The Target B (Thunder Zone) EM response has a strike extent of approximately 0.5
km. Calculated late-time EM decay constants (Tau) of up to 13.3 ms were
generated from the target. This is comparable in intensity to McIlvenna Bay and
significantly higher than at Balsam (4.0 ms). Preliminary geophysical modeling
suggests a simple northwest striking, southwest dipping plate consistent with
local stratigraphy. The top of the conductor is interpreted to lie at a depth of
approximately 200m. 


Foran is currently evaluating plans and budgets for follow-up on the Balsam
property, which could include step-out drilling at the Thunder Zone, around
drill hole BA-13-77.




(1) Balsam is the site of the majority of past drilling on this property,   
    which largely targeted the results of EM surveys conducted in the 1980s 
    that had limited depth penetration below 200m. The Balsam mineral       
    resource estimate is historic in nature; Foran has not completed        
    sufficient work to classify it as a current resource estimate. Further  
    drilling, sampling and geological interpretation would be required to   
    upgrade the historic resource.                                          



Survey Parameters & Qualified Person

During the period from February 11 to March 20, 2013, a large, fixed-loop,
ground-based DEEP-EM Survey was conducted on two grids on Foran's McIlvenna Bay,
Balsam and Hanson properties (Figure. 1). A total of approximately 98 line
kilometres ("line km") was surveyed; this included 60.65 line km on the
McIlvenna Bay Grid and 37.45 line km on the Balsam Grid. The DEEP-EM Survey was
completed at 200m line spacing with 50m station intervals and provided
continuous coverage over the 11 km trend of prospective stratigraphy from
McIlvenna Bay to Balsam. 


The DEEP-EM Survey and preliminary interpretation was conducted by Koop
Geotechnical Services Inc. ("KGSI"). Previously, KGSI was involved in the
identification of the geophysical target associated with the Lalor VMS deposit
of HudBay Minerals Inc. in the Snow Lake area. Technical guidance of the DEEP-EM
Survey was provided by Foran's geophysical consultant, in3D Geoscience Inc.
("in3D"). The Qualified Person within the meaning of National Instrument 43-101
with respect to the results of the DEEP-EM Survey is Todd Ballantyne, P.Geo.,
Chief Geophysicist of in3D. KGSI, Mr. Ballantyne and in3D are independent of
Foran.


Dave Fleming, VP Exploration for Foran and a Qualified Person within the meaning
of National Instrument 43-101, has reviewed and approved the technical
information in this release.


About Foran Mining 

Foran is a diversified exploration and development company with projects in the
Flin Flon Mining Belt. The Company's flagship McIlvenna Bay Project is located
in east central Saskatchewan, 65 kilometres west of Flin Flon, Manitoba and
contains McIlvenna Bay, one of the largest undeveloped VMS deposits in Canada. 


On March 27, 2013, Foran announced an increased mineral resource estimate for
McIlvenna Bay, with indicated resources of 13.9 million tonnes grading 1.96%
copper equivalent (1.28% Cu, 2.67% Zn, 0.49 g/t Au, 17 g/t Ag) and an inferred
resource of 11.3 million tonnes grading 2.01% copper equivalent (1.32% Cu, 2.97%
Zn, 0.43 g/t Au, 17 g/t Ag). For additional information on McIlvenna Bay, see
the Foran news release dated March 27, 2013 and the report entitled "Technical
Report on the McIlvenna Bay Project, Saskatchewan, Canada" dated December 9,
2011 at www.sedar.com or www.foranmining.com. 


As at June 30, 2013, the Company had a total of $5.2 million in cash, cash
equivalents and short-term investments.


Foran trades on the TSX.V under the symbol "FOM". 

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that
term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.


Forward Looking Statements 

This news release contains forward-looking statements. These statements are
based on information currently available to the Company and the Company provides
no assurance that actual results will meet management's expectations.
Forward-looking statements include estimates and statements that describe the
Company's future plans, objectives or goals, including words to the effect that
the Company or management expects a stated condition or result to occur.
Forward-looking statements may be identified by such terms as "believes",
"anticipates", "expects", "estimates", "may", "could", "would", "will", or
"plan". Since forward-looking statements are based on assumptions and address
future events and conditions, by their very nature they involve inherent risks
and uncertainties. Actual results relating to, among other things, results of
exploration, project development, reclamation and capital costs of the Company's
mineral properties, and the Company's financial condition and prospects, could
differ materially from those currently anticipated in such statements for many
reasons such as: changes in general economic conditions and conditions in the
financial markets; changes in demand and prices for minerals; litigation,
legislative, environmental and other judicial, regulatory, political and
competitive developments; technological and operational difficulties encountered
in connection with the activities of the Company; and other matters discussed in
this news release. This list is not exhaustive of the factors that may affect
any of the Company's forward-looking statements. These and other factors should
be considered carefully and readers should not place undue reliance on the
Company's forward-looking statements. The Company does not undertake to update
any forward-looking statement that may be made from time to time by the Company
or on its behalf, except in accordance with applicable securities law.


To view Figure 1 accompanying this press release, please visit the following
link: http://media3.marketwire.com/docs/907991fig1.pdf. 


To view Figure 2 accompanying this press release, please visit the following
link: http://media3.marketwire.com/docs/907991fig2.pdf.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Foran Mining Corporation
Patrick Soares
President & CEO
409 Granville Street, Suite 904
Vancouver, BC, Canada, V6C 1T2


Foran Mining Corporation
Fiona Childe, VP, Corporate Development
120 Adelaide Street West, Suite 2500
Toronto, ON, Canada, M5H 1T1
416-847-7310
ir@foranmining.com
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