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Press release from Marketwire

Foran Announces Results of Annual and Special Meeting of Shareholders

Thursday, May 24, 2012

Foran Announces Results of Annual and Special Meeting of Shareholders09:30 EDT Thursday, May 24, 2012VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 24, 2012) -Foran Mining Corporation (TSX VENTURE:FOM) ("Foran" or the "Company") is pleased to announce that all resolutions were approved by shareholders of the Company at its May 23, 2012 Annual and Special Meeting of Shareholders. This included the election of directors, appointment of auditors, and approval of the Company's stock option plan. The Information Circular with respect to the meeting is available at www.sedar.com. The shareholders elected Darren Morcombe, Patrick Soares, Sharon Dowdall, Maurice Tagami, Bradley Summach and David M. Petroff to the Board of Directors. The Board of Directors have reappointed Darren Morcombe as Chairman of the Board. The Officers of the Company, as appointed by the Board of Directors, are Patrick Soares (President, CEO and Director), Tim Thiessen (CFO and Corporate Secretary), Fiona Childe (Vice President, Corporate Development), Roger March (Vice President, Project Exploration) and Dave Fleming (Vice President, Exploration). About Foran Mining Foran is a diversified exploration and development company with projects in the Flin Flon Mining Belt. The Company's flagship McIlvenna Bay Project is located in east central Saskatchewan, 65 kilometres west of Flin Flon, Manitoba and contains the McIlvenna Bay deposit, one of the largest undeveloped Volcanogenic Massive Sulphide deposits in Canada. Foran trades on the TSX.V under the symbol "FOM". Forward Looking Statements This news release contains forward-looking statements. These statements are based on information currently available to the Company and the Company provides no assurance that actual results will meet management's expectations. Forward-looking statements include estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as "believes", "anticipates", "expects", "estimates", "may", "could", "would", "will", or "plan". Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results relating to, among other things, results of exploration, project development, reclamation and capital costs of the Company's mineral properties, and the Company's financial condition and prospects, could differ materially from those currently anticipated in such statements for many reasons such as: changes in general economic conditions and conditions in the financial markets; changes in demand and prices for minerals; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; technological and operational difficulties encountered in connection with the activities of the Company; and other matters discussed in this news release. This list is not exhaustive of the factors that may affect any of the Company's forward-looking statements. These and other factors should be considered carefully and readers should not place undue reliance on the Company's forward-looking statements. The Company does not undertake to update any forward-looking statement that may be made from time to time by the Company or on its behalf, except in accordance with applicable securities laws.FOR FURTHER INFORMATION PLEASE CONTACT: Patrick SoaresForan Mining CorporationPresident & CEO416-847-7310ORFiona ChildeForan Mining CorporationVP, Corporate Development416-847-7310ir@foranmining.comwww.foranmining.comNeither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.