Company Announcements

• ISS cites strategic rationale, valuation and process in issuing its endorsement of the Arrangement with Eldorado Gold
• Your vote is important. Vote well in advance of the proxy voting deadline on Thursday, April 2, 2026 at 10:00 a.m. (Vancouver time).
• Shareholder questions or need voting assistance? Please contact Laurel Hill Advisory Group by email at assistance@laurelhill.com, by calling, 1-877-452-7184 (North American toll-free) or 1-416-304-0211 (outside North America), or by texting "INFO" to either number.

VANCOUVER, BC , March 25, 2026 /CNW/ - Foran Mining Corporation (TSX: FOM) (OTCQX: FMCXF) ("Foran" or the "Company") is pleased to announce that leading independent proxy advisory firm Institutional Shareholder Services, Inc. ("ISS"), recommended that the Company's shareholders vote FOR the proposed plan of arrangement involving Eldorado Gold Corporation ("Eldorado"), Foran Mining Corporation ("Foran") and the securityholders of Foran (the "Arrangement").

The special meeting of Foran securityholders to consider and vote on the Arrangement is scheduled for Tuesday, April 7, 2026 at 1:00 p.m. (Toronto time) at the offices of McCarthy Tétrault LLP located at Suite 5300, 66 Wellington Street West, Toronto, Ontario (the "Meeting").

Under the Arrangement, Eldorado will acquire all of the issued and outstanding Foran common shares. Each Foran shareholder (other than certain dissenting shareholders) will receive 0.1128 of an Eldorado share and $0.01 in cash for each Foran common share held, subject to adjustment for fractional shares. Upon completion of the Arrangement, Foran will become a wholly-owned subsidiary of Eldorado.

ISS Recommendation

In its report, ISS found that "strategic rationale makes sense, as the resulting issuer may benefit from diversification, increased growth, exploration upside, financial flexibility, and re-rating potential" in issuing its endorsement of the Arrangement.

"We are pleased that ISS has recognized the merits of this transaction and the disciplined, value-focused rationale supporting it," said Dan Myerson, Executive Chairman and Chief Executive Officer. "Foran's Board unanimously recommends that shareholders vote FOR the proposed arrangement with Eldorado Gold, and we encourage all shareholders to vote well in advance of the deadline."

ISS has also issued a report on the Eldorado special meeting, similarly recommending shareholders of Eldorado vote FOR the share issuance resolution.

As an independent proxy advisory firm, ISS has approximately 3,400 clients including many of the world's leading institutional investors who rely on ISS' objective and impartial analysis to make important voting decisions.

Board Recommendation & Rationale

The Board of Directors of Foran recommends that shareholders vote FOR the Arrangement. Highlights of the transaction include:

• Unanimous board support: Foran's Board of Directors unanimously approved the Arrangement and recommends that shareholders vote FOR the Arrangement.
• Strategic alignment: the transaction is aligned with Foran's strategy and is expected to strengthen the combined company's long-term growth profile through a disciplined, value-focused combination.
• Transaction structure: upon completion of the Arrangement, Eldorado will acquire all of the issued and outstanding Foran common shares and Foran will become a wholly-owned subsidiary of Eldorado.
• Independent financial review: independent fairness opinions were obtained in connection with the Arrangement.

Questions & Assistance

Your vote is important, no matter how many shares you own. Eldorado shareholders and Foran securityholders are urged to vote as early as possible and well in advance of the proxy voting deadline on April 2, 2026 at 10:00 a.m. (Vancouver time), as intermediaries often impose earlier cut-off times for beneficial holders.

If you require assistance voting your shares or have questions about the voting process, please contact Foran's proxy solicitation agent:

Laurel Hill Advisory Group 
North American Toll-Free: 1-877-452-7184
Outside North America (Collect): 1-416-304-0211
Email: assistance@laurelhill.com
Shareholders may also text "INFO" to 1-877-452-7184 or 1-416-304-0211 for assistance.

About Foran Mining

Foran Mining is a near-term critical minerals producer, committed to supporting a greener future and empowering communities while creating value for our stakeholders.  The McIlvenna Bay project is located within the documented traditional territory of the Peter Ballantyne Cree Nation, comprises the infrastructure and works related to development and advanced exploration activities of the Company, and hosts the McIlvenna Bay Deposit and Tesla Zone.

The McIlvenna Bay Deposit is a copper-zinc-gold-silver rich deposit intended to be the centre of a new mining camp in a prolific district that has already been producing for 100 years. The McIlvenna Bay Property sits just 65 km West of Flin Flon, Manitoba, and is part of the world class Flin Flon Greenstone Belt that extends from Snow Lake, Manitoba, through Flin Flon to Foran's ground in eastern Saskatchewan, a distance of over 225 km.

The Company filed its NI 43-101 compliant 2025 Technical Report on the McIlvenna Bay Project, Saskatchewan, Canada (the "2025 Technical Report") on March 12, 2025, with an effective date and report date of March 12, 2025, outlining a mineral resource in respect of the McIlvenna Bay Deposit estimated at 38.6 Mt grading 2.02% CuEq in the Indicated category and an additional 4.5 Mt grading 1.71% CuEq in the Inferred category. Investors are encouraged to consult the full text of the 2025 Technical Report which is available on SEDAR+ at www.sedarplus.ca under the Company's profile. The Company's head office is located at 409 Granville Street, Suite 904, Vancouver, BC, Canada, V6C 1T2. Common Shares of the Company are listed for trading on the TSX under the symbol "FOM" and on the OTCQX under the symbol "FMCXF".

CAUTIONARY NOTE REGARDING FORWARD LOOKING STATEMENTS

This news release contains certain forward-looking information and forward-looking statements, as defined under applicable securities laws (collectively referred to herein as "forward-looking statements"). These statements relate to future events or the future performance of Foran Mining Corporation and reflect management's expectations and assumptions as of the date hereof or as of the date of such forward looking statement. Such forward-looking statements include, but are not limited, statements regarding our objectives and our strategies to achieve such objectives; our beliefs, plans, estimates, projections and intentions, and similar statements concerning anticipated future events; as well as specific statements in respect of expectations and plans regarding the proposed Arrangement, including timelines, consideration to be received, successful closing of the Arrangement, and receiving approvals in respect of the Arrangement; our ability to produce critical minerals in the near term; our commitment to support a greener future and empower communities while creating value for our stakeholders; expectations regarding our development and advanced exploration activities; and our 2025 Technical Report. All statements other than statements of historical fact are forward-looking statements. The forward-looking statements in this news release speak only as of the date of this news release or as of the date specified in such statement.

Inherent in forward-looking statements are known and unknown risks, estimates, assumptions, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements contained in this news release. These factors include management's belief or expectations relating to the following and, in certain cases, management's response with regard to the following: the Company's reliance on the McIlvenna Bay Property; closing of the Arrangement; the Company is exposed to risks related to mineral resources exploration and development; the Company has no history of mineral production; the Company's operations are subject to extensive environmental, health and safety regulations; mining operations involve hazards and risks; and the additional risks identified in our filings with Canadian securities regulators on SEDAR+ in Canada (available at www.sedarplus.ca). The forward-looking statements contained in this news release reflect the Company's current views with respect to future events and are necessarily based upon a number of assumptions that, while considered reasonable by the Company, are inherently subject to significant operational, business, economic and regulatory uncertainties and contingencies. These assumptions include the availability of funds for the Company's projects; availability of equipment; sustained labour stability with no labour-related disruptions; successful closing of the Arrangement; all necessary permits, licenses and regulatory approvals are received in a timely manner; and the ability to comply with environmental, health and safety laws. Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated, described or intended.

Readers are cautioned not to place undue reliance on forward-looking statements and should note that the assumptions and risk factors discussed in this press release are not exhaustive. Actual results and developments are likely to differ, and may differ materially, from those expressed or implied by the forward looking statements contained in this press release. All forward-looking statements herein are qualified by this cautionary statement. The Company disclaims any intention or obligation to update or revise any forward looking statements, whether as a result of new information, future events or otherwise, except as may be required by law. If the Company does update one or more forward-looking statements, no inference should be drawn that it will make additional updates with respect to those or other forward-looking statements, unless required by law. Additional information about these assumptions, risks and uncertainties is contained in our filings with securities regulators on SEDAR+ in Canada (available at www.sedarplus.ca).

SOURCE Foran Mining Corporation