07:06 AM EDT, 08/26/2025 (MT Newswires) -- Foran Mining ( FMCXF ) said Tuesday that construction progress of the McIlvenna Bay project in Saskatchewan is 50% complete.

The project remains on budget and on schedule, with commercial production targeted for mid-2026, Foran said.

Foran said key construction milestones in July include ball mill lining completion, significant progress with structural steel and concrete works and installation of floatation cells.

The company also advanced about 570 meters of underground development in July.

"Surpassing the halfway point of construction is an incredible milestone, and I am extremely proud of the relentless determination and operational excellence shown by our team," said Dan Myerson, executive chairman and CEO of Foran.

"Our focus remains on disciplined execution and long-term value creation, supported by consistent, transparent updates as we advance construction, and today's announcement reinforces that both schedule and budget remain firmly on track," Myerson said.