Foran Mining Corporation reported additional assay results from the ongoing 2024 exploration program at the Tesla and Bridge Zones, part of its 100%-owned McIlvenna Bay Property (Property) in Saskatchewan. Results from its large ice-based winter drilling program continue to expand and confirm the continuity of Tesla Zone mineralization in large step-out holes up and down-dip of the central zone. Of particular significance are the thick intersections made in holes TS-24-20 and TS-24-15, which represent 230m and 320m down-dip step-outs from previously drilled mineralization, respectively.

Tesla is now confirmed as measuring more than 500m in the dip direction and approximately 1,050m along strike, extending beyond the limits of the initial modelled conductive target. The results from seven Tesla Zone winter drill holes are presented in this news release, which successfully targeted both up and down-dip expansions of the zone, along with the assay results from the lower zones from the two previously released holes drilled into the adjacent Bridge Zone (MB-24-290 and MB-24-292). Key Highlights: Hole TS-24-20, a 230m down-dip step-out hole returned multiple massive and semi-massive lenses over 123m in core length, including: 26.9m grading 1.23% Cu, 7.55% Zn, 38.4 g/t Ag and 0.20 g/t Au (3.67% CuEq), including 2.5m grading 2.40% Cu, 5.39% Zn, 62.5 g/t Ag and 0.20 g/t Au (4.20% CuEq), and 4.7m grading 0.62% Cu, 12.59% Zn, 26.8 g/t Ag and 0.05 g/t Au (4.48% CuEq); 10.0m grading 0.81% Cu, 4.99% Zn, 31.4 g/t Ag and 0.35 g/t Au (2.58% CuEq), including 2.7m grading 0.33% Cu, 9.54% Zn, 21.1 g/t Ag and 0.12 g/t Au (3.32% CuEq).

Hole TS-24-15, also a 320m down-dip and step-out hole from the main Tesla Zone, intersected multiple massive to semi-massive lenses approximately 120m southwards along strike from hole TS-24-20, highlighted by: 11.8m grading 0.75% Cu, 8.22% Zn, 41.8 g/t Ag and 0.12 g/t Au (3.41% CuEq), including 8.6m grading 0.70% Cu, 10.01% Zn, 42.2 g/t Ag and 0.14 g/t Au (3.91% CuEq); 4.2m grading 0.17% Cu, 8.63% Zn, 18.2 g/t Ag and 0.03 g/t Au (2.84% CuEq), including 1.7m grading 0.15% Cu, 13.79% Zn, 21.6 g/t Ag and 0.03 g/t Au (4.38% CuEq). Hole TS-24-21, the southern most down-dip hole drilled to date, defining a 700m trend of deep intersections from HG-23-01, highlighted by: 11.9m grading 0.50% Cu, 7.73% Zn, 35.7 g/t Ag and 0.30 g/t Au (3.11% Cu Eq), including 5.1m grading 0.43% Cu, 10.36% Zn, 52.4 g/t Ag and 0.36 g/t Au (3.94% CuEq). Hole TS-24-17, the northern most up-dip hole drilled, highlighted by: 3.0m grading 2.60% Cu, 0.72% Zn, 40.0 g/t Ag and 0.66 g/t Au (3.15% CuEq), including 1.0m grading 6.53% Cu, 1.87% Zn, 45.6 g/t Ag and 1.23 g/t Au (7.43% CuEq); 12.4m grading 0.56% Cu, 3.26% Zn 31.4 g/t Ag and 0.56 g/t Au (1.96% CuEq), including 1.6m grading 0.57% Cu, 12.31% Zn, 57.4 g/t Ag and 0.42 g/t Au (4.71% CuEq).

Lower zone from previously released hole MB-24-290 located near the southern end of Tesla ? Bridge Zone transition, intersected significant mineralization in the Bridge Zone, highlighted by: 7.4m grading 1.04% Cu, 6.71% Zn, 22.1 g/t Ag and 0.47 g/t Au (3.33% CuEq), including 1.9m grading 1.54% Cu, 4.59% Zn, 23.9 g/t Ag and 0.75 g/t Au (3.32% CuEq). Tesla expansion drilling continues with two drills targeting down-dip /along-strike extensions at the north end of the zone.

Summer drilling program has commenced with four drills to be split between Tesla infill drilling and testing of high priority regional exploration targets. 2024 Winter Drill Program Results: The 2024 ice-based winter drill program was executed between January and April and was designed to evaluate the potential footprint of the Tesla Zone, with six drill rigs utilized to complete a series of up and down-dip step-out drill holes. Achieving a thorough understanding of Tesla's potential scale is an important precursor to ongoing exploration, especially given its close proximity to the McIlvenna Bay Project and its potential to influence ongoing advanced engineering and design work.

The 2024 winter program consisted of approximately 22,200m of drilling, completed in 18 drill holes and associated wedges, targeting the Tesla and Bridge Zones. The drilling was successful as it continued to confirm the continuity of the mineralized horizons and expand the Tesla zone. The results for seven additional Tesla holes targeting the up and down-dip expansion of the zone are provided in this news release, along with the results from the lower zones in two previously released Bridge Zone holes.

Tesla Zone ? Down-Dip Expansion Results: A series of five drill holes (in order from south to north TS-24-21, -15, -15w1, -20, -16w1) were completed along the northeastern edge of Hanson Lake as wide step-out holes collared up to 400m down-dip from existing holes and spaced at 100-200m intervals along a 650m section of the currently defined strike length. This series of holes was designed to enhance the definition and its understanding of the down-dip part of the zone and extend the mineralization across the lake, so that continued expansion drilling could be completed to extend mineralization further down-dip from the shore during the summer months following results.

These widely spaced drill holes were all successful in intersecting one or more lenses of Tesla mineralization along the lower edge, confirming continuity of the zone and indicating further exploration upside in the down-dip direction to step out further on several thick intersections from the program. All holes intersected massive and semi-massive sulphides related to the main Tesla lens, however two of the deep holes (TS-24-15 and TS-24-20) drilled in the central part of the zone intersected multiple horizons of zinc and/or zinc and copper-rich mineralization. These intersections are located 200-300m down-dip from previous holes and are expected to be followed up with infill drilling.

For example, TS-24-20 intersected six discrete zones of massive to semi-massive and stringer sulphides over a core length of 122.8m, including 26.9m grading 1.23% Cu, 7.55% Zn, 38.4 g/t Ag and 0.20 g/t Au (3.67% CuEq) and 10.0m grading 0.81% Cu, 4.99% Zn, 31.4 g/t Ag and 0.35 g/t Au (2.58% Cu), while TS-24-15 intersected four discrete zones over a 93.1m core length, including 11.8m grading 0.75% Cu, 8.22% Zn, 41.8 g/t Ag and 0.12 g/t Au (3.41% CuEq) and 4.2m grading 0.17% Cu, 8.63% Zn, 18.2 g/t and 0.03 g/t Au (2.84% CuEq). The lower lenses of mineralization intersected in these new holes appear to correlate with the lower lenses intersected in previous drilling in the north central part of the Tesla Zone, including holes TS-23-10 and TS-23-12. Tighter drill spacing will be required in this sector of Tesla to confirm the controls and distribution of the mineralization, but the occurrence of multiple lenses in previous drilling increases its confidence in respect of planned future drilling as the Tesla Zone continues to grow.