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NEWS RELEASE
Foran Reports 2015 Annual Financial Results
Vancouver, BC (March 29, 2016) - Foran Mining Corporation (TSX.V: FOM) ("Foran" or the "Company") today announced its financial results for the year ended December 31, 2015. The Company recorded a net loss of $1.58 million or $0.02 per share (basic and diluted). This compares to a net loss of $1.46 million or
$0.02 per share (basic and diluted) for the year ended December 31, 2014.
As at December 31, 2015, the Company had a total of $1.02 million in cash and cash equivalents (December 31, 2014: $4.05 million). Working capital totaled $0.97 million (December 31, 2014: $3.98 million).
The audited Consolidated Financial Statements for the year ended December 31, 2015, along with Management's Discussion and Analysis, have been filed on SEDAR and are available at www.sedar.com.
About Foran Mining
Foran is an exploration and development company focused on copper-zinc in the Hanson Lake Camp of east-central Saskatchewan. The Hanson Lake Camp is located in an area of excellent infrastructure, close to a major mining centre. In late 2014, Foran released a positive Preliminary Economic Assessment for the McIlvenna Bay deposit, Foran's first deposit in the Hanson Lake Camp.
Foran trades on the TSX.V under the symbol "FOM".
On behalf of the Board of Directors
Foran Mining Corporation
Patrick Soares President & CEO
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.
www.foranmining.com