Foraco receives $150-million (U.S.) in contracts

Mr. Tim Bremner reports FORACO INTERNATIONAL AWARDED MULTIPLE THREE-YEAR DRILLING CONTRACTS TOTALING US$150 MILLION IN CANADA AND CHILE Foraco International SA has been awarded three long-term contracts from Tier 1 mining customers in Canada and Chile, with a combined expected value of approximately $150-million (U.S.). Each of these three-year contracts covers mine development and resource definition drilling and encompasses a diverse range of services -- including large-diameter (nine-inch) coring, deep reverse circulation, deepwater wells, dual rotary and flood reverse, as well as surface and underground core drilling. The scope of work will engage up to four drills in Chile and 20 in Canada. Mobilization activities are already under way in Chile while, in Canada, the new contracts extend existing projects renewed for a further three years. "We are very pleased to have been awarded these three projects, all within a relatively short time frame," said Tim Bremner, chief executive officer of Foraco International. "These awards reflect Foraco's ability to deliver a highly diversified range of drilling services at a single mine site, along with the mutual trust we have built with each of these customers over the years. They also validate our strategic focus on securing long-term partnerships with Tier 1 customers operating in stable, safe jurisdictions." Mr. Bremner added, "Foraco's tender and bidding pipeline continues to strengthen, supported by well-capitalized mining producers and developers expanding drilling programs amid copper and gold prices near all-time highs." About Foraco International SA Foraco International is a leading global mineral drilling service company that provides a comprehensive and reliable service offering in mining and water projects. Supported by its founding values of integrity, innovation and involvement, Foraco has grown into the third-largest global drilling enterprise with a presence in 16 countries across five continents. We seek Safe Harbor.