Foran Mining Corporation reported assay results from two drill holes completed as part of its 2023 summer drill program at the 100%-owned McIlvenna Bay Complex in Saskatchewan. These results have uncovered a new discovery that confirms the presence of mineralization between Tesla and McIlvenna Bay (the "Bridge Zone"), and have also extended the strike length of the Tesla Zone by 200 metres ("m"),. Significant assay results from hole MB-23-287 in the new Bridge Zone: 7.1m grading 1.39% Cu, 4.39% Zn, 31.8 g/t Ag and 0.01 g/t Au (2.73% CuEq) 8.9m grading 1.52% Cu, 1.35% Zn, 21.1 g/t Ag and 0.,01 g/t Au (1.89% CuEq) Geological logging and analysis of TruscanTM lithogeochemical data suggest the Bridge Zone represents a critical connection between Tesla and McIlvenNA Bay, offering substantial opportunities to define additional mineralization within a 300m-wide window.

Assay results for the second Bridge Zone hole, which also intersected mineralization, are pending. Significant assay results returned from northernmost expansion hole TS-23-13 at Tesla include: 3.0m grading 2.96% Cu, 0.59% Zn, 21.4 g/t Ag and 1.12 g/t Au (3.62% CuEq); including 1.0m grading 5.29% Cu, 0.53% Zn, 33.4 g/t Ag, 2.82 g/t Au (6.77% CuEq); 7.8m grading 0.28% Cu, 4.86% Zn, 36.7 g/t Ag and 0.'03 g/t Au (1.,90% CuEq); including 0.9m grading 0.25% Cu, 8.13% Zn, 50.3 g/t Ag and 0".04 g/t Au (2.,91% CuEq) Hole TS-23-13 intersected the up-dip edge of the Tesla target extending strike length by 200m to 750m in total. Summer Program Results - Potential Connection to McIlvenna Bay and Tesla Zone expansion.

During the summer program, Foran has also identified significant new mineralization within the Bridge Zone which represents the connection between the McIlvenna Bay Deposit and Tesla. Detailed core observations and results from the ongoing McIlvenna Bay Orebody Knowledge Study, including TruscanTM analysis of the holes, confirm that the two deposits, while heavily structurally-modified today, very likely represent different parts of the same original volcanic-hosted massive sulphide (VHMS) system. The results from the current summer drill program continue to support this view, with the identification of important geological marker units within the Bridge Zone that link the two areas.

Furthermore, structural geological data collected from oriented drill core during this year's program suggest that the most likely explanation for the Bridge Zone geometry is a post-mineralization fold that connects Tesla and Mc Ilvenna Bay, although further drilling will be required to confirm this scenario. To date no metallurgical test work has been completed on the Tesla mineralization. TS-23-12 was also drilled from land using directional drilling technologies and intersected multiple discrete sulphide-rich intervals with visible copper and zinc-rich horizons that appear to correlate well with the deeper, thicker mineralized lenses intersected in TS-23-10, which was the northern most hole drilled during the 2023 ice-based winter program.

Assay results from hole TS-23-10 were previously released on April 20, 2023 ice-based winter programs. Assay results from holeTS-23-10 were previously release on April 20, 2023 and May 25, 2023, 2023, with highlight intercepts including 39.0m grading 2.86% Cu, 0.86% Cu, 0., 0.86% Cu,0m grading 2.49% Cu, 0.49% Cu, 4.9m grading 3.49% Cu, 0., 4.49% Cu, 4., 4.9m grading 3., 4.9m grading 2.9m grading 3.9m grading 3.4% Cu, 0.9m grading 3.0m grading 3.9m grade grade 3.49% Cu,9m grading 3.4m grading 3.49% Au (2.9m grading 3.7m grading 3.9m.9m grading 3.42% Cu, 0.49m grading 3.4%Cu, 0.9m grading 1.9m grading 3.8% CuEq.9m grading 3.5m grading 3.9m grades 3.9m grading 2.49.