Foran Announces Mailing of Joint Management Information Circular

Press Release

Your vote is important. Vote well in advance of the proxy voting deadline on Thursday, April 2^nd, 2026 at 10:00 a.m. (Vancouver time).

Foran Securityholders and Eldorado Shareholders in need of voting assistance are encouraged to contact Laurel Hill Advisory Group by email at assistance@laurelhill.com, or by texting “INFO” to, or calling, 1-877-452-7184 (North American toll-free) or 1-416-304-0211 (outside North America).

Vancouver, BC (March 11, 2026) – Foran Mining Corporation (TSX: FOM) (OTCQX: FMCXF) (“Foran” or the “Company”) is pleased to announce the mailing of a joint management information circular (the “Circular”) for the special meetings of Foran securityholders and shareholders of Eldorado Gold Corporation (“Eldorado”) to be held in connection with Foran’s previously announced combination with Eldorado (the “Transaction”). In addition to being mailed to Foran securityholders and Eldorado shareholders, the Circular has been posted on the Company’s website at www.foranmining.com and filed on SEDAR+ at www.sedarplus.com under the Company’s profile.

The Circular provides detailed information regarding the Transaction, including background on the combination, and matters to be voted on by securityholders of Foran and shareholders of Eldorado in connection with the Transaction.

The board of directors of Foran unanimously recommends that Foran securityholders vote in favour of the Arrangement Resolution (as defined in the Circular).

Benefits of the Transaction for Foran Securityholders:

Peer-leading near-term growth. Following completion of the Transaction, Eldorado is expected to be positioned to deliver a leading growth profile, underpinned by two fully financed development projects, the Skouries Project and the McIlvenna Bay Project, which are advancing towards commercial production expected in Q4 2026 and mid-2026, respectively.
Substantial EBITDA & free cash flow. Following completion of the Transaction, Eldorado is expected to generate approximately $2.1 billion of EBITDA^[1] and $1.5 billion in free cash flow^[2] in 2027, the robust long-term cash flow is expected to fund growth initiatives, strengthen the balance sheet of Eldorado and support continued shareholder returns through dividend and share buyback programs, while maintaining financial flexibility through commodity cycles.
Long-life, diversified asset base. Following completion of the Transaction, Eldorado’s portfolio is expected to deliver balanced gold-copper exposure (~77% gold, ~4% silver, ~15% copper and ~4% other metals) across attractive mining jurisdictions in Canada, Greece and Türkiye, providing jurisdictional and commodity diversification.
Significant exploration upside. Following completion of the Transaction, Eldorado will continue to accelerate high-value organic growth opportunities, including advancing Foran’s high-grade polymetallic Tesla Zone and other drill ready targets as well as maximizing the exploration potential surrounding Foran’s McIlvenna Bay Project, and Eldorado’s existing operating and development assets.
Compelling re-rate opportunity. As a result of increased scale and trading liquidity, near-term growth and enhanced Canadian exposure, the Transaction is expected to support a positive valuation re-rate opportunity.
Sustainability-focused operation. Eldorado and Foran’s strong alignment across sustainability principles, carbon efficient practices and a shared commitment to responsible mining will enable Eldorado, following completion of the Transaction, to focus on transparent sustainability performance and continued advancement in greenhouse gas (“GHG”) emission mitigation.

Voting and Assistance

Foran securityholders are encouraged to vote as early as possible.

Foran securityholders who are registered holders may vote by completing and returning the form of proxy in accordance with the instructions provided (including available mail, fax, telephone and internet voting options). Non-registered Foran shareholders should submit voting instructions using the voting instruction form provided by their intermediary.

If you need assistance or have questions about how to vote, please contact Foran’s proxy solicitation agent, Laurel Hill Advisory Group: