Foran Reports First Quarter 2013 Results

VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 02/22/13 -- Foran Mining Corporation (TSX VENTURE: FOM) ("Foran" or the "Company") today announced its financial results for the three month period ended December 31, 2012. The Company recorded a net loss of $421,757 or $0.01 per share (basic and diluted). This compares to a net loss of $677,083 or $0.01 per share (basic and diluted) for the three months ended December 31, 2011.

The unaudited Condensed Consolidated Interim Financial Statements for the three months ended December 31, 2012, along with Management's Discussion and Analysis, have been filed on SEDAR and are available at www.sedar.com.

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 property is located in east central Saskatchewan, 65 km west of Flin Flon, Manitoba and contains McIlvenna Bay, one of the largest undeveloped volcanogenic massive sulphide ("VMS") 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.

Neither 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.

Contacts:

Foran Mining Corporation

Patrick Soares

President & CEO

409 Granville Street, Suite 904

Vancouver, BC, Canada, V6C 1T2


Foran Mining Corporation

Fiona Childe, VP, Corporate Development

120 Adelaide Street West, Suite 2500

Toronto, ON, Canada, M5H 1T1

416-847-7310
ir@foranmining.com