McIlvenna Bay moves closer to production with grid connection

Foran Mining (TSX: FOM; US-OTCQX: FMCXF) announced it has energized an 85‑km, 110 kV transmission line linking its McIlvenna Bay project to SaskPower’s Island Falls hydroelectric grid, a milestone the company says was completed ahead of schedule and on budget.

“Energizing the McIlvenna Bay transmission line ahead of schedule and on budget is another major step forward as we continue growing what we believe will become one of Canada's most important new copper mining districts,” Dan Myerson, Foran’s executive chairman and CEO, said.

Myerson added, “At a time when global geopolitical instability and rising fuel prices are creating increasing uncertainties, having direct access to stable, renewable power is a strategic advantage. It reinforces our vision of building a modern, resilient mining operation that is both economically competitive and aligned with the global transition to electrification. This milestone not only strengthens the long-term foundation for McIlvenna Bay, but it also positions Foran to deliver the critical metals that the world needs to target a low carbon footprint for generations to come.”

Foran said the new line will provide secure, reliable and sustainable power to support commissioning of the processing plant, underground operations and site infrastructure as the project advances toward production. The transmission line was built in partnership with SaskPower and includes additional capacity to support potential future mine expansions across the company’s district.

“Reliable and affordable power is essential for growing Saskatchewan communities and industries,” Jeremy Harrison, the provincial minister responsible for SaskPower, said. “The energization of the new McIlvenna Bay transmission line is a major infrastructure milestone that strengthens reliability in northern Saskatchewan and supports long‑term economic growth. Congratulations to Foran and everyone involved in delivering this project, which underscores the importance of strong partnerships in enabling large‑scale industrial development across the province and especially the north.”

Foran noted the energized infrastructure will help stabilize operating costs and align the mine with broader electrification efforts, which management says enhances the project’s competitive and environmental profile.

More information is available at www.ForanMining.com