07:16 AM EST, 02/20/2026 (MT Newswires) -- Foran Mining ( FMCXF ) on Friday announced the final exploration results from the H2 2025 drill program at the Tesla Zone, part of the company's 100%-owned McIlvenna Bay Project located in east-central Saskatchewan.

Among key highlights, the company said that the high grade copper results from Hole TS-25-45w2 confirm continued down dip expansion potential of the Tesla Main Lens. It added that Hole TS-25-45w2 intersected three lenses of the Tesla mineralization, including a high-grade copper interval from the Main Lens massive sulphide unit and said that this intersection marks the farthest down dip intercept of the Main Lens drilled to date, indicating that the Tesla mineralizing system is "still going strong" at depth for potential further expansion.

The company also said that it is advancing toward an inaugural resource estimate for the Tesla Zone, and added that data compilations and modelling are currently underway for the Tesla Zone, incorporating all results up to the end of the 2025 program. The company added that the inaugural resource estimate is expected to be completed during H2 2026, with the results supporting the company's phased expansion opportunities as it advances McIlvenna Bay toward commercial production by mid-2026.

Foran Mining ( FMCXF ) also stated that early 2026 drilling at hole BA-26-84 encountered semi-massive to massive sulphides at Thunder Zone. It added that recent drilling has intercepted an interval of semi-massive to massive sulphides (assays pending) at Thunder Zone, with a 100m step-out along strike/down plunge to the north from the previous limits of drilling at the prospect.

"Advancement of high priority, advanced stage regional targets, including Thunder Zone and Flinty North within six kilometres of the McIlvenna Bay project site, forms an integral part of the Company's broader exploration strategy informed by ongoing orebody knowledge studies and district-scale targeting," said the company.

In a statement the company noted that its observation of sulphide minerals at hole BA-26-84 "should not be construed as, nor does it imply any grade or potential discovery," with assays to be reported in a future exploration news release.

"With the release of our final Tesla Zone drill results for 2025, we are pleased to highlight the continued expansion potential of mineralization within a zone of copper enrichment that appears to strengthen with depth," said Erin Carswell, Foran's Vice President, Exploration.