Foran Mining — Investor Presentation (November 2011)
22 slides from Foran Mining's investor presentation, November 2011
Slide 1: Advancing a major undeveloped Canadian base metal deposit
Advancing a major undeveloped Canadian base metal deposit November 2011 www.foranmining.com TSXv: FOM
Slide 2: Forward Looking Statements
Forward Looking Statements This presentation contains "forward-looking information" (also referred to as "forward looking statements") which may include, but are not limited to, statements with respect to the future financial or operating performance of the Company, its subsidiaries and its projects
Slide 3: 5 Reasons To Buy Foran
5 Reasons To Buy Foran Resource growth Advancing potential a major undeveloped Canadian base Good location metal deposit & infrastructure in a pro-mining Solid jurisdiction shareholder base - mining industry Management team executives with experience in identifying & developing deposits 3
Slide 4: Directors & Management
Directors & Management Board of Directors Darren Morcombe, Chairman of the Board Patrick Soares Sharon Dowdall Maurice Tagami Bradley Summach Management Patrick Soares, President & CEO Tim Thiessen, CFO Fiona Childe, Vice President, Corporate Development Roger March, Vice President, Project Explorat
Slide 5: Capital Structure & Ownership
Capital Structure & Ownership Shares Issued & Outstanding1 64.5 M Warrants1 5.2 M Options1 4.1 M Shares Fully Diluted1 73.8 M Recent Share Price2 $0.60-0.65 52 Week High-Low2 $1.49-$0.50 Market Capitalization2,3 Approx. $40 M Cash Position1 Approx. $14.4 M Debt1 none Ownership2 Board & Management 12
Slide 6: Key Project & Location
Key Project & Location McIlvenna Bay Project: 100% Foran-owned Significant past work Zinc-Copper-Silver-Gold Located in east central Saskatchewan, 60 km west of Flin Flon Excellent access & infrastructure – proximity to highway, rail, mining centre, & electricity Saskatchewan: Safe, stable, pro-mini
Slide 7: VMS Deposits
VMS Deposits Volcanogenic Massive Sulphide (VMS) deposits form in the ocean, from metal-rich brines deposited at and below the seafloor VMS deposits often form in clusters – giving rise to VMS mining camps The upper parts of VMS deposits include lenses of massive sulphides, which can contain very hi
Slide 8: Foran Projects
Foran Projects A03°w. Hanson Lake Mcllvenna Bay x, Suggi Lake‘ ey onic MAP LOCATION Foran Projects: (41,717 ha) Mcllvenna Bay (20,382 ha) Bigstone Lake JV (11,126 ha) Balsam JV (4,066 ha) Hanson Lake (2,565 ha) Sam (1,529 ha) Comeback Bay (446 ha) Reed Lake (195 ha) Kisseynew (1,408 ha) Kisseynew ‘C
Slide 9: McIlvenna Bay – Project Overview
McIlvenna Bay – Project Overview 100% owned by Foran (Royalties: 1% NSR with a $1M buyout & $0.75/tonne of ore extracted) Large VMS Deposit in the Flin Flon Greenstone Belt Road accessible year-round – one hour drive from Flin Flon & railhead Discovered in 1988; substantial past work from 1998 to 20
Slide 10: Community Involvement
Community Involvement Foran has established a positive relationship with first nations & other stakeholders in the nearby communities Peter Ballantyne Cree Nation Includes 8 communities through east central Saskatchewan, including Deschambault Lake, 50km northwest of McIlvenna Bay - Foran has recent
Slide 11: McIlvenna Bay – Deposit Overview
McIlvenna Bay – Deposit Overview Base metal (copper-zinc) deposit with precious metal credits Deposit comes within 15-20 m of surface, below a dolomite cap Discrete & adjacent zones of zinc-rich & copper-rich mineralization Steep dip of wide (+15m true thickness), contiguous zones of mineralization
Slide 12: McIlvenna Bay Resources
McIlvenna Bay Resources 1-7 2011 Resource, Copper Stockwork Zone (1.10% CuEq cut-off) Category Tonnes CuEq Cu Au Zn Ag (kt) (%) (%) (g/t) (%) (g/t) Indicated 5,560 1.91 1.55 0.53 0.27 11 Inferred 3,570 1.81 1.48 0.35 0.43 10 2006 Resource, Massive to Semi-Massive Sulphides (US$50/t NSR cut-off) Cate
Slide 13: McIlvenna Bay Contained Metal Summary
McIlvenna Bay Contained Metal Summary 1 Category Resource Copper Zinc Gold Silver (M lbs.) (M lbs.) (k oz.) (k oz.) Indicated 2011 Resource 190 33.6 95.4 1,980 (Copper Stockwork Zone) 2006 Resource 118 947 NR 5,470 (massive to semi-massive sulphides) Total Indicated 308 981 95.4 7,460 Inferred 2011
Slide 14: McIlvenna Bay – Long Section
McIlvenna Bay – Long Section 14
Slide 15: McIlvenna Bay Phase II Program
McIlvenna Bay Phase II Program Phase Two Program commenced August, 2011: New exploration & development camp Diamond drilling (12,000 to 15,000m planned, with 2/3 in summer-fall & the balance drilled on frozen ground in early 2012) Engineering studies – geochemical & geotechnical to assist in future
Slide 16: Accomplishments in 2010-2011
Accomplishments in 2010-2011 Consolidated 100% Foran ownership of McIlvenna Bay Restructured board & recruited experienced management team focused on advancing McIlvenna Bay to production Raised over $19M – with solid shareholder base Completed $1.5M McIlvenna Bay Phase One Program Conducted review
Slide 17: The Road Ahead
The Road Ahead Complete Phase Two exploration program at McIlvenna Bay (Q3/11 to Q2/12) Continue to engage & involve local stakeholders Commission Preliminary Economic Assessment for McIlvenna Bay (2012) Complete regional exploration program focused on targets outside the McIlvenna Bay deposit 17
Slide 18: The Foran Advantage
The Foran Advantage Foran (FOM.V) is a TSX.V listed exploration and development company with a focus on base metals in the Flin Flon mining belt Foran’s flagship McIlvenna Bay Project is located in east central Saskatchewan, in an area of good access and infrastructure, 60 km west of Flin Flon McIlv
Slide 19: For Additional Information Please Contact
For Additionalwww.foranmining.com Information Please Contact Patrick Soares Fiona Childe President & CEO VP, Corporate Development 904-409 Granville Street, 2500-120 Adelaide Street West Vancouver, BC, V6T 1T2 Toronto, ON, M5H 1T1 ir@foranmining.com 416-847-7310 19 www.foranmining.com
Slide 20: Appendices: Company History
Appendices Company History 1996: Foran Listed on the TSX Venture Exchange (TSX.V: FOM) 1998-2007: Foran optioned, then purchased, an interest in McIlvenna Bay from Cameco and BHP Foran advanced exploration at McIlvenna Bay Foran commissioned an independent NI 43-101 compliant mineral resource estima
Slide 21: Cross Section 9400E
Cross Section 9400E 0.46 g/t Au 12.77 git Ag 1.70 % Cu 0.17 % Zn over 47.55m 0.21 git Au 11.13 git Ag 1.92 % Cu ific-felsi 0.35 % Zn eee over 12.86m 3100m 0.13 g/t Au 1.46 g/t Au iskes azo%cuy 012% Zn 7.56% Zn spoon" 10.53m over 2.78m 0.35 g/t Au 11.29 git Ag are st re 1.69 % Cu 10 git Ag 027 % Zn 1
Slide 22: Cross Section 9500E
Cross Section 9500E 3200m 0.31 g/t Au 9.05 git Ag 1.30 % Cu 0.24% Zn OPEN over 28.24m 3100m 0.50 git Au 6.08 git Ag 1.35 % Cu 0.18 % Zn over 17.60m 1.21 git Au 12.34 git Ag 1.59 % Cu 0.33 % Zn over 22.53m 2800m 0.27 g/t Au 4.92 git Ag 1.22 % Cu 0.09 % Zn over 12.83m 1.33 g/t Au 34.31 g/t Ag 3.33 % C