Foran Closes Second Tranche of Private Placement for Gross Proceeds of $54M

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All amounts are in Canadian dollars unless stated otherwise

VANCOUVER, BC, July 11, 2025 /CNW/ - Foran Mining Corporation (TSX:FOM.TO) (OTCQX:FMCXF) ("Foran" or the "Company") is pleased to announce that following the receipt of all requisite shareholder approvals at the special meeting of shareholders held on Thursday, July 10, 2025, it has now closed the second tranche of its previously announced $350 million private placement financing (the "Offering"), for gross proceeds of approximately $54 million (the "Second Tranche Offering"). The first tranche of the Offering (the "First Tranche Offering") closed on May 28, 2025, resulting in gross proceeds of approximately $296 million. Upon closing of the Second Tranche Offering, the aggregate financing of $350 million that was previously announced on May 13, 2025 is now complete.