Fairfax Financial Enters into Voting Support Agreement for Eldorado Gold Corporation and Foran Mining Combination

Press Release

Vancouver, BC (March 30, 2026) – Foran Mining Corporation (TSX: FOM) (OTCQX: FMCXF) (“Foran” or the “Company”) is pleased to announce that certain affiliates of Fairfax Financial Holdings Limited (collectively, “Fairfax”), a long-term, value-oriented institutional investor, have entered into a voting support agreement in respect of Foran’s previously announced plan of arrangement (the “Transaction”) with Eldorado Gold Corporation (“Eldorado”).

Under the terms of the voting support agreement, Fairfax has agreed to vote all of its shares in favour of the Transaction. Fairfax owns 94,088,486 common shares, representing approximately 17.6% of the Company’s issued and outstanding common shares, and an additional 27,777,778 non-voting shares, which convert into common shares on a one-for-one basis in connection with a change of control transaction. Assuming such conversion, Fairfax would be entitled to vote approximately 21.6% of the Company’s issued and outstanding common shares. Under the terms of the plan of arrangement, the Transaction is subject to approval by Foran’s securityholders, including the affirmative vote of at least two thirds of the votes cast by Foran shareholders and Foran securityholders (including the holders of the Company’s non-voting common shares), voting together as a single class, and separate majority of the minority approvals by holders of each of the Foran common shares and Foran non-voting shares, in each case in accordance with Multilateral Instrument 61 101 – Protection of Minority Security Holders in Special Transactions.

“Foran brings a world class asset with huge, long-life copper reserves and low hydro energy costs, all in Canada and under the leadership of a very talented CEO, Dan Myerson,” said Prem Watsa, Chairman and Chief Executive Officer of Fairfax Financial Holdings Limited. “Combined with Eldorado’s established portfolio and development pipeline, this transaction creates a high-quality, Canadian-based mining company with a compelling growth profile. We are pleased that Dan will serve as Deputy Chairman of the combined company, supporting a strong and experienced Eldorado management team, helping guide its next phase of growth.”

FOR ADDITIONAL INFORMATION & MEDIA ENQUIRIES:

Foran:
Jonathan French, CFA
VP, Capital Markets & External Affairs
409 Granville Street, Suite 904
Vancouver, BC, Canada, V6C 1T2
ir@foranmining.com
+1 (604) 488-0008

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