Pierre Lassonde Increases Ownership in Foran Mining Corporation

TORONTO, Jan. 16, 2012 /CNW/ - Mr. Pierre Lassonde announced today that he has recently purchased 1,127,500 common shares of Foran Mining Corporation (TSX-V: FOM) (the "Company") through the facilities of the TSX Venture Exchange.

As a result of these purchases, Mr. Lassonde currently owns or exercises control and direction over 7,339,625 common shares of the Company.  Mr. Lassonde's current shareholdings represent approximately 11.35% of the current issued and outstanding common shares of the Company.  Mr. Lassonde has further advised the Company that he has acquired the additional 1,127,500 common shares for investment purposes.  He has indicated that he will review his holdings from time to time and that he may increase or decrease his position as future circumstances may dictate.

SOURCE Pierre Lassonde

For further information:

Pierre Lassonde, Franco-Nevada Corporation, 130 King Street West, Suite 740, Toronto, Ontario M5X 1E4, 416 306 6308.

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Pierre Lassonde

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