SASKATOON, SASKATCHEWAN–(EMWNews – Aug. 6, 2008) – Foran Mining Corporation (TSX VENTURE:FOM) announces that it will issue up to 400,000 common share units at a price of $0.08 per common share for gross proceeds of $32,000. Each unit will consist of one common share and one share purchase warrant. Each warrant will have a term of 24 months with an exercise price of $0.10.

It is anticipated that the placement, which is subject to the approval of the TSX Venture Exchange, will close immediately.

The proceeds from the sale of these shares will be used for general operating expenses of the Company.

The TSX Venture Exchange does not accept responsibility for nor the adequacy or accuracy of the contents of this news release.