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www.foranmining.comSeptember 2014
The McIlvenna Bay Deposit &Hanson Lake Camp
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5 Reasons to Invest in Foran
3
Management
team with adepth ofindustry
experience
Management
team with adepth ofindustry
experience
Solid
shareholderbase mining
industryexecutives
Solid
shareholderbase mining
industryexecutives
Superiorproject location
& existinginfrastructure
Superiorproject location
& existinginfrastructure
McIlvenna Bay:100% ownership
of a large basemetal deposit
McIlvenna Bay:100% ownership
of a large basemetal deposit
Resourcegrowth &discoverypotential
Resourcegrowth &discoverypotential
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Management & Directors
4
Board of DirectorsDarren Morcombe, ChairmanFounder of private investment company Springtide CapitalPty. Ltd., former Chairman and major shareholder ofEuropean Gold Refineries SA and Director of AGR Matthey
Patrick Soares30 years experience in the mining industry, formerPresident, CEO & Director of Brett Resources Inc. (acquiredby Osisko Mining in 2010)
Sharon DowdallOver 30 years' experience in the legal field; former Chief
Legal Officer & Corporate Secretary of Franco-NevadaCorporation
Maurice TagamiMetallurgical Engineer; Vice President, Mining Operationsfor Silver Wheaton Corp.
Bradley SummachCFO of BBS Aircraft Inc. & President of Summach Ventures;
past President & CEO of Foran
David M. PetroffOver 30 years' experience in the mining & investmentindustry; former President, CEO & Director of BreakwaterResources Ltd. (acquired by Nyrstar NV in 2011)
ManagementPatrick Soares (BSc (Hons) PGeo) - President, CEO, Director30 years experience in the mining industry (incl. Sutton, EuroZinc, Aurizon);President, CEO & Director of Brett Resources until its acquisition by OsiskoMining in 2010
Tim Thiessen (BComm, CA) - CFOChartered Accountant; 15 years international experience in public accounting& the mining industry; former CFO of Aurcana Corporation and former VPFinance for Endeavour Mining Corporation
Fiona Childe (PhD, PGeo) - VP Corporate DevelopmentPhD in VMS deposits; 15 years international experience in the mining
industry, former VP Corporate Communications with Tau Capital Corp.,involved with the advancement of AfriOre from an early-stage explorer to itsacquisition by Lonmin in 2007
Roger March (BSc (Hons), PGeo) - VP Project Exploration20 years exploration & project management experience; including withCumberland Resources as part of the team responsible for the resourcegrowth & prefeasibility-feasibility studies for the Meadowbank Gold Project
David Fleming (BSc, PGeo) - VP Exploration30 years' experience in mineral exploration generation, management andimplementation in North America; experience with several major miningcompanies. Involved in the exploration & development of the MeadowbankGold Deposit from exploration to feasibility stage with CumberlandResources (acquired by Agnico-Eagle Mines Ltd. In 2007)
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Capital Structure
5
83.4 MI&O
4.0 MWarrants
7.1 MOptions
94.5 MFully Diluted
C . 15, 2014; 1 @ $0.70 . D. 2015; 3 @0.30 . A. 2015; A. $0.71; C & ; & ; A CD$
Treasury$3.9M as at June 30, 2014
No debt
Share Price & CapitalizationRecent: $0.17-$0.20
52 week high-low: $0.32-$0.14Market Cap: ~$15M
Ownership
20%
19%
11%
. & D
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The Case for Zinc
6
Improved western demand &high Chinese imports has
resulted in low inventories As major mines close on or
before schedule the zinc marketcontinues to tighten
With no significant new projects
underway to replace lostproduction the market isexpected to continue to tighten
As the zinc supply gap widens the market will look to thoseprojects with reasonable capital costs & a clean, saleable product
located in stable, low-risk jurisdictions
Source: CRU Metals; Glencore website
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Key Project McIlvenna Bay
7
Located in Saskatchewan, Canada asafe, stable pro-mining jurisdiction
Excellent access & infrastructure:
65 km west of Flin Flon, Manitoba
Year-round road access
Nearby railhead & hydroelectricity
Significant work since discovery in1988
Resource growth potential both at
McIlvenna Bay & in satellite deposits
Foran is de-risking the McIlvenna Bay deposit
Large 100% Foran-owned Copper-Zinc-Gold-Silver Deposit
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Significant advancements
in the last 3 years
8
+20,000 D
D B
C EA
C E B
C EA
F
D E C
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Community Involvement
9
Foran has established a positiverelationship with First Nations &
other stakeholders in the area
Foran continues to engage & involve localstakeholders
Contractors & employees hired from localPeter Ballantyne Cree Nation (PBCN)
communities CanNorth Environmental Services, an 100%
aboriginal-owned, multi-disciplinaryenvironmental consulting firm conductedenvironmental baseline studies
Management of McIlvenna Bay environmental
program by ASKI, an experienced & well-respected environmental consultancy set upby the PBCN
Foran sponsorship of PBCN students atMining Matters Earth Sciences Camps
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Regional Mining Camps
10
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VMS Deposits
11
Volcanogenic Massive Sulphide (VMS) deposits form from metal-rich brines deposited on &below the seafloor
Major source of base metals; gold & silver by-products
Idealized Volcanogenic Massive Sulphide (VMS) deposit(after Hannington et al., 1998)
:
:
& &
CAA
AA
CA CA
Form in clusters giving riseto VMS mining camps
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0
5
10
15
20
25
30
FF
B
777
C
C
C/G
C
A
C
A
C
D
D
G&
C
F
B
D
VMS Deposit Size Comparison
12
VMS deposits form in clusters
Majority of the deposits in eachVMS cluster are 3-5 Mt, withpotential for 1-2 large (+20Mt) tovery large (+50Mt) deposits
This clustering of VMS
mineralization is being outlinedat McIlvenna Bay
DepositSize
(Mt)
VMS Deposits: Flin Flon Snow Lake McIlvenna Bay
Sources: Galley et al. (2007), company websites
McIlvenna Bay13.9Mt indicated11.3Mt inferred
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McIlvenna Bay Deposit Overview
13
Large Zinc-Copper-Gold-Silver VMS deposit:
Top of deposit lieswithin 35m of surface,below dolomite cap
Deposit extends 2km down-plunge
Open to depth
Steep dip (~65o) &wide zones (18-20m
horizontal thickness)potentially amenableto cost-effective bulkunderground mining
Main Lens:
Upper West Zone (UWZ): zinc-copper-rich massive sulphides
Zone 2: zinc-rich massive sulphides
Copper Stockwork Zone (CSZ): copper-gold stockwork directly below UWZ & Zone 2
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McIlvenna Bay Mineral Resources1
14
1 Effective date Jan. 1, 2013; Metal prices for 2013 Resource are US$3.25/lb. Cu, US$1.10/lb. Zn, US$1,400/oz. Au & US$25/oz. Ag; The basecase uses a US$60/t NSR cut-off using provisions for metallurgical recoveries, smelter payables, refining costs, freight, and applicable royalties;see appendices for full footnotes; for additional information see the Foran news release dated March 27, 2013 at www.sedar.com
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15
McIlvenna Bay: Copper Stockwork Zone (CSZ)
: 7.61 1.60% , 0.30% , 0.50 /
: 5.48 1.56% , 0.47% , 0.42 /
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16
McIlvenna Bay: CSZ + UW MS + Zone 2 MS
: 3.39 0.31% , 7.15 % , 0.38 /
: 2.80 0.51% , 7.13% , 0.38 /
: 7.61 1.60% , 0.30% , 0.50 /
: 5.48 1.56% , 0.47% , 0.42 /
: 2.15 1.66% , 4.10 % , 0.88 / : 2.91 1.63% , 3.68% , 0.51 /
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McIlvenna Bay
Contained Metal Summary1
17
2013 McIlvenna Bay Mineral Resource Contained Metal
Cu(M lbs.)
Zn(M lbs.)
Au(k oz.)
Ag(k oz.)
Indicated Massive to semi-
massive sulphides
(Upper West Zone,
Zone 2, Lens 3)
122 770 94 5,054
Copper Stockwork Zone 269 475 126 2,598
Total Indicated 391 817 220 7,651
Inferred Massive to semi-
massive sulphides
(Upper West Zone,
Zone 2, Lens 3)
140 683 83 4,191
Copper Stockwork Zone 188 57 73 2,136
Total Inferred 328 740 157 6,327
1 Based on the mineral resource estimate with an effective date of Jan. 1, 2013; see resource estimate slide and appendices for additional information.
47%
35%
11%
7%
Based on US$3.25/lb. Cu, US$1.10/lb. Zn,
US$1,400/oz. Au & US$25/oz. Ag
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McIlvenna Bay Metallurgy
18
Testwork conducted by G&T Metallurgical Services (Stewart Group) on 3 composite samples prepared from core drilled by the Company in 2011;for additional information see Appendices & www.foranmining.com
Positive PEA-level results
Concentrates amenable to conventional grinding & flotation
Coarse sulphides with moderate hardness
Clean concentrates with low penalty elements
G:
29% C, 6.4 / A, 126 / A
:
94% C, 85% A, 77% A
G:
24% C, 6.5 / A, 216 / A
:
84% C, 60% A, 50% A
G:
54%
:
76%
2 G:
55%
:
85%
G:
12% C, 59% , 5.3 / A, 332 / A
:
56% C, 59% , 39% A, 34% A
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The Hanson Lake Camp
19
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Bigstone
20
1 Foran is not treating the historic estimate as current; a Qualified Person within the meaning of National Instrument 43-101has not completed sufficient work to classify the historic estimate as current; additional work, including re-surveying, re-logging
and drill core QA/QC would be required to verify and upgrade the historic estimate to current.
(%)
()
(%)
(/)
1.0 3,748 2.03 0.33
1.5 3,137 2.26 0.36
2.0 1,984 2.57 0.482.5 1,199 3.11 0.61
Bigstone Property located 10 km west of the McIlvenna Bay Property
Previous operators identified zones of copper- and zinc-rich VMS mineralization
Historic mineral resource estimate of 3.75 Mt grading 2.03% Cu, 0.33 g/t Au in theBigstone Copper Zone1
Geophysics (EM) conducted in winter 2014 to better resolve the conductors associatedwith Bigstone & identify other nearby conductors detailed modeling of the 2014 dataunderway
Bigstone Copper Zone
Historic Mineral Resource Sensitivity Analysis1
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Regional Exploration
21
2013 DEEP-EM surveyidentified 2 high-prioritytargets:
Target A
1.6 km long EMconductor - similarsize & character asMcIlvenna Bay
Initial drill testinconclusive further
testing required todetermine source
Target B
Final hole drilled in thewinter 2013 regional
program hit high-grade coppermineralization in theThunder Zone (4.1%Cu & 0.43 g/t Au over3.7m)
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22
Regional Exploration
2013 DEEP-EM survey 3D rendering McIlvenna Bay & Balsam Grids; looking east
13.9 1.96% CE ()
11.3 2.01% CE ()
1.21.6
F
D :
%
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The Road Ahead
23
Continue to Engage & InvolveLocal Stakeholders
McIlvenna Bay PEA Underway Results Expected Q4/14
Stay Tuned for 2015 WinterExploration Program
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Contacts
24
Patrick SoaresPresident & CEO
904-409 Granville Street,Vancouver, BC, V6C 1T2
Fiona ChildeVP, Corporate Development2000-199 Bay St., P.O. Box 285Toronto, ON, M5L 1G9
416-363-9229
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Appendices
25
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McIlvenna Bay Resource Footnotes
26
1 Effective date January 1, 2013; CIM definitions were followed for Mineral Resources; CuEq =copper equivalent; ZnEq = zinc equivalent; NSR = Net Smelter Return.2 The base case mineral resource is estimated based on 178 diamond drill holes and a NSRcut-off grade of US$60/t. NSR grades were calculated and high grade caps were applied asper the discussion in Estimation Methodology and Parameters below and include provisionsfor metallurgical recovery and estimates of current shipping terms and smelter rates forsimilar concentrates. Metal prices used are US$3.25/lb. Cu, US$1.10/lb. Zn, US$1,400/oz. Au,and US$25/oz. Ag. Specific gravity was interpolated for each block based on measurementstaken from core specimens.
3 Mr. David Rennie, P.Eng., of RPA, prepared this mineral resource estimate. Mr. Rennie isindependent of Foran and is a Qualified Person within the meaning of NI 43-101.4 Mineral resources which are not mineral reserves do not have demonstrated economicviability. The estimate of mineral resources may be materially affected by environmental,permitting, legal, marketing or other issues.5 CuEq and ZnEq values were estimated based on $53.94 per % Cu, $8.11 per % Zn, $31.16
per g/t Au and $0.03 per g/t Ag.6 For additional information see the Foran news release dated March 27, 2013 atwww.foranmining.com & www.sedar.com
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McIlvenna Bay Metallurgy
28
Testwork conducted by G&T Metallurgical Services (Stewart Group); for additional information see Foran June 20, 2012 news release
(1 grind of 100 m K80, regrind of 35 m K80)
A D
(%)
C
(%)
(%)
A
(/)
A
(/)
C
(%)
(%)
A
(%)
A
(%)
100 1.57 0.16 8 0.38 100 100 100 100
5.1 29.2 1.05 126 6.38 94.4 33.8 76.9 84.6
3.9 0.79 0.57 14 0.81 2.0 14.1 6.8 8.3
91.0 0.06 0.09 2 0.03 3.7 52.1 16.4 7.1
(1 grind of 100 m K80, regrind of 12 m K80 for Cu & 14 m K80 for Zn)
A D
(%)
C
(%)
(%)
(%)
A
(/)
A
(/)
C
(%)
(%)
(%)
A
(%)
A
(%)
100 1.75 0.18 4.02 26 0.66 100 100 100 100 100
2.8 0.86 0.13 1.44 23 1.16 1.4 2.1 1.0 2.5 4.9 6.0 24.2 1.3 6.40 216 6.50 83.4 43.4 9.6 50.3 59.7
5.6 1.87 0.24 54.3 63 0.81 6.0 7.5 76.3 13.6 6.9
7.7 0.69 0.14 2.39 22 0.53 3.0 6.0 4.6 6.6 6.2
77.8 0.14 0.10 0.44 9 0.19 6.2 41.0 8.5 27.0 22.2
2 (1 grind of 73 m K80, regrind of 16 m K80 for Zn)
A D
(%)
C
(%)
(%)
(%)
A
(/)
A
(/)
C
(%)
(%)
(%)
A
(%)
A
(%)
100 0.33 0.41 6.96 15 0.21 100 100 100 100 100
3.5 0.20 0.32 5.89 11 0.11 2.1 2.8 3.0 2.6 1.9
1.6 11.9 15.4 9.18 332 5.27 56.0 59.1 2.1 34.4 38.5
10.8 0.63 0.46 55.0 38 0.29 20.5 12.2 85.4 27.3 14.6
17.8 0.16 0.15 0.96 10 0.15 8.4 6.5 2.5 11.6 12.7
66.3 0.07 0.12 0.74 5 0.10 13.1 19.5 7.0 24.1 32.3
Overall Metallurgical Responselocked cycle testing of composite samples
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