Foran Mining Corporation – Tesla Zone Drilling Further Defines and Expands High-Grade Mineralization
Press Release
Maiden Tesla Zone Resource Estimate Expected for H2 2026
Vancouver, BC (November 10, 2025) – Foran Mining Corporation (TSX: FOM) (OTCQX: FMCXF) (“Foran” or the “Company”) is pleased to announce exploration results from the H2 2025 drill program at the Tesla Zone, part of the Company’s 100%-owned McIlvenna Bay Project located in east-central Saskatchewan.
Key Highlights:
⦁ New copper results confirm and extend high-grade mineralization at Tesla Zone. TS-25-45w1 intersected a 33.4m thick combined interval of massive sulphide and stringer-style mineralization grading 1.98% Cu, 3.07% Zn, 19.6 g/t Ag and 0.47 g/t Au (3.09% CuEq) from both the Cu1 and Main Lenses in the down dip part of the Tesla Zone, successfully extending a previously identified band of elevated copper grade-thickness intersections from the central Tesla Zone to the north. These results are highlighted by:
o 14.4m grading 2.77% Cu, 0.54% Zn, 28.5 g/t Ag and 0.52 g/t Au (3.12% CuEq), including 7.0m grading 3.54% Cu, 0.62% Zn, 36.5 g/t Ag and 0.70 g/t Au (3.99% CuEq) of stringer-style mineralization from the Cu1 Lens, followed directly down hole by:
o 18.9m grading 1.38% Cu, 5.01% Zn, 12.8 g/t Ag and 0.44 g/t Au (3.07% CuEq), including 5.3m grading 4.23% Cu, 2.58% Zn, 37.8 g/t Ag and 1.38 g/t Au (5.60% CuEq) from the underlying Main Lens massive sulphide
⦁ Infill drilling reinforces consistency of mineralization across the Tesla Zone. Infill drilling at the northern end of the Tesla Zone returned broad zones from the Lower lens, as highlighted by HG-25-
01w2 which returned:
o 13.8m grading 0.26% Cu, 5.91% Zn, 43.0 g/t Ag and 0.72 g/t Au (2.62% CuEq), including 2.8m grading 0.16% Cu, 13.38% Zn, 36.8 g/t Ag and 1.46 g/t Au (5.17% CuEq)
⦁ Growing precious metals opportunity continues to emerge from the drilling in the northern part of the Tesla Zone, with multiple wide zones of elevated gold and silver grades that consistently occur between sulphide lenses, including:
o 16.3m grading 1.15 g/t Au and 103.7 g/t Ag, including 3.9m grading 2.77 g/t Au and 264.4 g/t Ag from HG-25-01w1; and
o 11.0m grading 1.23 g/t Au and 23.1 g/t Ag, including 2.0m grading 4.59 g/t Au and 42.0 g/t Ag from HG-25-01w2
⦁ Results expected to underpin maiden resource estimate in H2 2026. Mineralization intersected throughout 2025 is anticipated to make a meaningful contribution to the maiden resource estimate for the Tesla Zone, supporting the Company’s phased expansion opportunities as it advances towards commercial production at McIlvenna Bay by mid-2026.
Erin Carswell, Foran’s Vice President, Exploration, commented: “The standout result of our H2 2025 drill program came from hole TS-25-45w1, which intersected an exceptionally thick, high-grade section of the Cu1 Lens with 14.4 m averaging nearly 2.8% copper, overlying 18.9 m of a copper-rich variant of the Tesla Main Lens. The program was designed to infill two untested areas of the northwestern Tesla Zone, including down-dip tests of a newly-identified electromagnetic response correlating with a potential Lower Lens extension. While deep drilling intersected the Lower Lens as anticipated and confirmed elevated gold grades in and around the Lens, the exceptional Cu1 intersection highlights strong potential for further down-dip expansion of the Tesla Zone. These results are encouraging for further down-dip expansion of the Tesla Zone, which will be more accessible from underground drill platforms in coming years, as Foran’s Geoscience & Discovery team advances its regional exploration strategy and works towards a maiden Tesla Zone resource targeted for the second half of 2026.”
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