Foraco International Renews Three-Year US$120m Drilling Contract in Western Australia

TORONTO and LUNEL, France, Nov. 12, 2026 /CNW/ -- Foraco International SA ("Foraco" or the "Company") (TSX: FAR), a leading global provider of mineral drilling services, is pleased to announce the renewal of a major drilling services contract with a longstanding senior mining customer in Western Australia, with an estimated value of US$120 million over an initial three-year period. The renewal reinforces Foraco's long-term customer relationship, provides continued revenue visibility and further strengthens the Company's order book.

Under the renewed agreement, Foraco will continue to provide a comprehensive range of drilling services, including hydrogeological drilling, diamond coring and resource definition drilling, across multiple operating mines in Western Australia.

Drilling operations are already underway and are expected to continue throughout the initial three-year contract period, with an option for a further two-year extension. With more than 18 years of operations in Australia, Foraco has established a strong track record in delivering technically demanding drilling programs for major mining companies. Australia remains a key market for the Group and an important contributor to its international operations.

"We are very pleased to renew this significant contract with one of our longstanding customers," said Tim Bremner, CEO of Foraco International. "This award reflects the trust we have built through consistent operational performance, technical expertise and our commitment to safety. Long-term contracts are a key component of our strategy, providing greater visibility, supporting efficient resource allocation and reinforcing sustainable growth. This renewal further demonstrates our ability to maintain strong customer relationships and deliver reliable, innovative drilling solutions across our global operations."

About Foraco International SA

Foraco International SA (TSX: FAR) is a leading global mineral drilling services company providing comprehensive drilling solutions for the mining and water sectors. Built on its founding values of integrity, innovation and involvement, Foraco has grown into the world's third-largest mineral drilling services company, with a track record of operations in more than 60 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 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 using words such as "may", "will", "should", "plans", "expects", "intends", "anticipates", "believes", "budget", and "scheduled" or the negative thereof or variations thereof 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 are disclosed under the heading "Risk Factors" in the Company's Annual Information Form dated March 2, 2026, which is filed with the Canadian regulators on SEDAR+ (www.sedarplus.com). 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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