Expansion Potential Builds with New Tesla Zone Drill Results

Executive Summary

• Foran Mining released results from the final 15 holes of its 2025 winter‑spring drill program, confirming extensive copper‑zinc mineralization and notable gold‑silver grades across a >1.35 km strike length in the Tesla Zone.
• Multiple high‑grade intercepts were reported, including up to 13.89 g/t Au over 0.5 m and 107 g/t Ag over 0.5 m, indicating a growing precious‑metal opportunity.
• The drill program covered ~28,500 m in 32 holes; results are expected to support the upcoming maiden resource estimate for the Tesla Zone.

Key Details

• Program Scope: 28,494 m of drilling across 32 holes at Tesla and Bridge Zones (total winter‑spring program ≈32,435 m).
• Highlight Intercepts (selected):
• TS‑25‑38w2 – 6.9 m @ 2.16% Cu, 3.72% Zn, 29.3 g/t Ag, 0.62 g/t Au (3.58% CuEq).
• TS‑25‑38w2 – 17.1 m @ 2.07% Cu, 0.67% Zn, 27.5 g/t Ag, 0.37 g/t Au (2.43% CuEq).
• TS‑25‑37w2 – 8.1 m @ 1.86% Cu, 11.51% Zn, 80.9 g/t Ag, 1.68 g/t Au (6.49% CuEq).
• TS‑25‑40w2 – 19.9 m @ 0.56% Cu, 7.89% Zn, 40.2 g/t Ag, 0.29 g/t Au (3.23% CuEq).
• BZ‑25‑02w1 – 16.5 m @ 2.20% Cu, 1.39% Zn, 11.5 g/t Ag, 0.03 g/t Au (2.49% CuEq).
• Precious‑Metal Highlights:
• TS‑25‑37w2 – 3.3 m @ 3.42% Cu, 8.72% Zn, 87.8 g/t Ag, 3.12 g/t Au (7.94% CuEq).
• Within same interval: 0.5 m @ 13.89 g/t Au, 107 g/t Ag, 4.15% Cu, 7.20% Zn (14.50% CuEq).
• TS‑25‑37w2 – 2.1 m @ 141 g/t Ag, 1.76 g/t Au (1.77% CuEq).
• Scale & Continuity: Tesla Zone now traced >1.35 km strike and up to 700 m down‑dip; remains open in both directions.
• Current Activities: Two drill rigs active (down‑dip expansion of Lower Lens; high‑grade continuity testing in northern Main Lens).
• Future Outlook: Results will feed into the maiden resource estimate for Tesla Zone; summer 2025 drilling program underway.

Notable Quotes

“We have achieved excellent drill coverage and an even better understanding of the mineralization… the scale and consistency continue to support long‑term potential for phased expansion opportunities at McIlvenna Bay.” – Erin Carswell, Vice President, Exploration, Foran Mining.