Foran Achieves Major Milestone with Energization of McIlvenna Bay Transmission Line
Press Release
Completed Ahead of Schedule and on Budget, Securing Renewable Hydroelectric Power and Supporting Future Growth
Vancouver, BC (March 23, 2026) – Foran Mining Corporation (TSX: FOM) (OTCQX: FMCXF) (“Foran” or the “Company”) is pleased to announce the successful energization of the dedicated power transmission line connecting the Company’s 100%-owned McIlvenna Bay Project in Saskatchewan (the “Project”) to the electrical grid near Saskatchewan Power Corporation’s (“SaskPower”) Island Falls Hydroelectric Generating Station. The newly energized line was completed ahead of schedule and on budget, representing a significant infrastructure milestone for the McIlvenna Bay Project and providing secure, reliable and sustainable power to support the operation as the Company continues commissioning.
Key Highlights:
- Major infrastructure milestone achieved with the successful energization of Foran’s dedicated 85 kilometre, 110 kV transmission line connecting the McIlvenna Bay Project to SaskPower’s electrical grid at the Island Falls Hydroelectric Facility.
- Provides secure, reliable and sustainable power to McIlvenna Bay, supporting commissioning of the processing plant, underground operations and site infrastructure as the Project advances toward production.
- Constructed in partnership with SaskPower, Saskatchewan’s provincial electric utility and a key infrastructure partner for the Project.
- Designed with additional line load capacity, supporting potential future mine expansions and broader development across the Company’s district.
Dan Myerson, Executive Chairman and CEO of Foran, commented: “Energizing the McIlvenna Bay transmission line ahead of schedule and on budget is another major step forward as we continue growing what we believe will become one of Canada’s most important new copper mining districts. At a time when global geopolitical instability and rising fuel prices are creating increasing uncertainties, having direct access to stable, renewable power is a strategic advantage. It reinforces our vision of building a modern, resilient mining operation that is both economically competitive and aligned with the global transition to electrification. This milestone not only strengthens the long-term foundation for McIlvenna Bay, but it also positions Foran to deliver the critical metals that the world needs to target a low carbon footprint for generations to come.”
“Reliable and affordable power is essential for growing Saskatchewan communities and industries,” said Jeremy Harrison, Minister Responsible for SaskPower. “The energization of the new McIlvenna Bay transmission line is a major infrastructure milestone that strengthens reliability in northern Saskatchewan and supports long-term‑ economic growth. Congratulations to Foran and everyone involved in delivering this project, which underscores the importance of strong partnerships in enabling large-scale industrial development across the province and especially the north.”
McIlvenna Bay Mine Site Substation
Energization Crew at the McIlvenna Bay Mine Site
110 kV Energized Lines Landing on McIlvenna Bay’s Substation
One of the Primary Transformers Supporting Site Power Distribution
Finalization of the Power Energization
Qualified Person
Mr. Samuele Renelli, P. Eng., Vice President, Technical Services for Foran, is the Qualified Person for all technical information in this news release and has reviewed, verified and approved the technical information in this news release.
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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