Vancouver, B.C., October 9, 2019 - Forum Energy Metals Corp. (TSX.V: FMC) (“Forum”) is pleased to announce that hole JANL0005 drilled by Rio Tinto Canada Exploration (“RTEC”) on the Janice target, located approximately 2 kilometres to the northeast of Jansem target holes JANL0001 and 0002 (News  release dated October 1, 2019) intersected 13m of 0.95% Cu and 9.7g/t Ag within a broader 57.1m mineralized zone grading 0.41% Cu and 4.2 g/t Ag at shallow depths. 

Copper and silver mineralization have been confirmed for a 400 metre strike length so far and two more zones of mineralization were discovered at depths below previously known mineralization on the Janice target. Highlights from JANL0005 are:

• 0.41% Cu and 4.2 g/t Ag over 57.1 metres from 78.9m to 136m, including      0.95% Cu and 9.7 g/t Ag over 13 metres from 89m to 102m 
• 0.13% Cu and 4.9 g/t Ag over 16 metres from 150m to 166m
• 0.31% Cu and 5.9 g/t Ag over 20 metres from 238m to 258m

Drill Hole Summary (Figure 2 & Table 1)

• Hole JANL0005 was drilled to a depth of 351 metres and intersected three sections of Cu and Ag mineralization from 78.9m to 136m, 150m to 166m and 238m to 258m.  This hole was located approximately 100m to the northeast of historic drill hole PL93-11 (33.0m @ 0.77% Cu) and 100m southwest of historic hole PL93-03 (39.2m @ 0.54% Cu) drilled by Noranda Exploration in 1993. This infill hole successfully confirmed the continuity of mineralization along strike and down-dip.  The hole intersected mineralization wider than expected, with further mineralized zones intersected at deeper levels than was known from historic drilling.

The mineralized zone at the Janice target is now a minimum of 400m in strike length, is open along strike and at depth, remains an unknown width, and has an estimated true thickness varying from several metres to more than 50 metres in multiple horizons.  This drill hole was orientated to crosscut the stratigraphy as close as possible at right angles, as the interpretation is that the copper is mostly strata-bound. 

Table 1:   Assay results from Janice target

All drillcore samples have been sent to ALS Global in Vancouver, BC for assay. Ken Wheatley, P.Geo. and Forum’s VP, Exploration and Qualified Person under National Instrument 43-101, has reviewed and approved the contents of this news release. 

Figure 1:  Location of the Target Areas on the Janice Lake Project

Figure 2:  Drill Hole Locations on the Janice Target.  The squares are 500m in size, north is to the top of the page. The large red dot is the location of JANL0005 reported in this release and the large black dots are holes drilled by RTEC in their 2019 drill campaign.   The small black squares are historic holes.   

Quality Control/ Quality Assurance 

Core samples were sawed in half, keeping the half with the reference line for orientated core in the box.  Samples averaged 2 metres in length through the mineralized zone, 4 metres in length in the unmineralized zone, however these lengths varied depending on stratigraphy, alteration or mineralization. Standards were introduced after every 20^th sample, using a high grade, low grade or unmineralized, depending on the surrounding core.  Duplicates were also introduced on every 20^th sample, quartering the core.   Blanks were used for the first sample of the hole and at the beginning and end of a mineralized interval, using certified rose quartz. A 4-acid digestion was used on the samples at ALS lab in Vancouver, followed by analysis by ICP-MS (the ME-MS61L package).  Higher grade samples may be run again through copper screen using the coarse reject material.

Janice Lake Summer Exploration Program Summary

RTEC completed a 4,318 line kilometre high resolution airborne magnetic survey over the entire 52 km length of the property and drilled 21 holes totalling 5,209 metres this summer under an Option Agreement to earn an 80% interest in the Janice Lake project by spending $30 million in exploration. Nine holes have been completed on the Jansem target, nine on the Janice target and three on the Kaz target (Figure 1). Results from the remaining holes will be reported once received from RTEC.  

About Forum Energy Metals

Forum Energy Metals Corp (TSX.V: FMC) explores for energy metals, including copper, nickel, platinum, palladium and uranium in Saskatchewan, Canada’s Number One mining province. In addition, Forum has also established a strategic land position in the Idaho Cobalt Belt. For further information: www.forumenergymetals.com

ON BEHALF OF THE BOARD OF DIRECTORS

Richard J. Mazur, P.Geo.
President & CEO

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

For further information contact:

NORTH AMERICA

Rick Mazur, P.Geo., President & CEO              
mazur@forumenergymetals.com
Tel: 778-772-3100

Craig Christy, VP Corporate Development
cchristy@forumenergymetals.com
Tel: 250-863-0561

UNITED KINGDOM

Burns Singh Tennent-Bhohi, Director
burnsstb@forumenergymetals.com
Tel: 074-0316-3185