Foraco International Awarded Multiple Three-Year Drilling Contracts Totaling US$150 Million in Canada and Chile

TORONTO, Oct. 28, 2025 /CNW/ - Foraco International SA ("Foraco" or the "Company") (TSX: FAR), a leading global provider of drilling services, is pleased to announce the award of three long-term contracts from Tier One mining customers in Canada and Chile, with a combined expected value of approximately US$150 million.

Each of these three-year contracts covers mine development and resource definition drilling and encompasses a diverse range of services -- including large-diameter (9-inch) coring, deep reverse circulation, deep water wells, dual rotary, flood reverse, as well as surface and underground core drilling. The scope of work will engage up to four drills in Chile and twenty in Canada.

Mobilization activities are already underway in Chile, while in Canada, the new contracts extend existing projects now renewed for a further three years.

"We are very pleased to have been awarded these three projects, all within a relatively short timeframe," said Tim Bremner, CEO of Foraco International. "These awards reflect Foraco's ability to deliver a highly diversified range of drilling services at a single mine site, along with the mutual trust we have built with each of these customers over the years. They also validate our strategic focus on securing long-term partnerships with Tier One customers operating in stable, safe jurisdictions. Tim Bremner added that Foraco's tender and bidding pipeline continues to strengthen, supported by well-capitalized mining producers and developers expanding drilling programs amid copper and gold prices near all-time highs."

About Foraco International SA

Foraco International SA (TSX: FAR) is a leading global mineral drilling services company that provides a comprehensive and reliable service offering in mining and water projects. Supported by its founding values of integrity, innovation and involvement, Foraco has grown into the third largest global drilling enterprise with a presence in 16 countries across five continents. For more information about Foraco, visit www.foraco.com.

Caution concerning forward-looking statements

This document may contain "forward-looking statements" and "forward-looking information" within the meaning of applicable securities laws. These statements and information include statements regarding the estimated value and length of the contracts and the size and capitalization of our customers, as well as other estimates, forecasts, information and statements as to Management's expectations with respect to, among other things, the future financial or operating performance of the Company and capital and operating expenditures. Often, but not always, forward-looking statements and information can be identified by the use of words such as "may", "will", "should", "plans", "expects", "intends", "anticipates", "believes", "budget", and "scheduled" or the negative thereof or variations thereon or similar terminology. Forward-looking statements and information are necessarily based upon a number of estimates and assumptions that, while considered reasonable by Management, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Readers are cautioned that any such forward-looking statements and information are not guarantees and there can be no assurance that such statements and information will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations factors affecting the global economy and metal prices and the ability of our customers to continue with further exploration activities, as well as those factors  disclosed under the heading "Risk Factors" in the Company's Annual Information Form dated March 2, 2025, which is filed with Canadian regulators on SEDAR (www.sedarplus.ca). The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements and information whether as a result of new information, future events or otherwise. All written and oral forward-looking statements and information attributable to Foraco or persons acting on our behalf are expressly qualified in their entirety by the foregoing cautionary statements.

SOURCE Foraco International SA

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