Vancouver, B.C., February 28, 2013 - Forum Uranium Corp. (FDC: TSX-V) is pleased to announce that a 3,000 metre drill program for approximately 20 holes has commenced on the NW Athabasca Joint Venture project located in the Athabasca Basin, Saskatchewan. Drilling will continue on the Barney Zone, where uranium mineralization was encountered over significant widths at shallow depths in four holes within a strong alteration envelope in basement rocks (see News Release dated January 9, 2013).
To date, uranium mineralization has been intersected at the historical Zone 2A (2.48% U3O8 over 1.5 metres) and on two gravity targets (Opie and Barney) out of five targets investigated by two drill campaigns in 2012. There still remain 12 untested targets on the property. Figure 1 shows the areas to be drilled in the current program.
NW Athabasca Joint Venture
The NW Athabasca project is a joint venture held 60% jointly by Forum and NexGen Energy Ltd., a private British Columbia corporation established by Tigers Realm Group, an Australian based privately owned resources group. Forum is Operator of the joint venture with 27.5% partner Cameco Corporation and 12.5% partner AREVA Resources Canada Inc.
Quality Assurance and Quality Control
Core samples are collected and shipped in sealed containers to the Saskatchewan Research Council, an ISO/IEC 17025:2005 (CAN-P-4E) certified laboratory for geochemical analysis using the Uranium ICP Package. This package is the preferred analytical technique for detecting uranium and pathfinder elements in the alteration halos of unconformity-type uranium deposits in the Athabasca Basin. Ken Wheatley, P.Geo. (Saskatchewan, NWT/Nunavut), Forum’s Vice President, Exploration is the Qualified Person that has reviewed and approved the contents of this news release.
Figure 1: NW Athabasca Project Gravity Survey. The blue colours represent gravity “lows” indicating potential alteration envelopes around potential uranium mineralization. The proposed 2013 winter work areas are circled in black. * A 1.5 million pound historical uranium resource grading 0.6% U3O8 for the Maurice Bay deposit, as reported by Saskatchewan Industry and Resources, Miscellaneous Report 2003-7 has not been calculated or classified under the specifications of National Instrument 43-101 and should not be relied upon.
About Forum Uranium
Forum Uranium Corp. is a Canadian-based energy company with a focus on the acquisition, exploration and development of Canadian uranium projects. Forum has assembled a highly experienced team of exploration professionals with a track record of mine discoveries for unconformity-style uranium deposits in Canada. The Company has a strategy to discover near surface uranium deposits in the Athabasca Basin, Saskatchewan and the Thelon Basin, Nunavut by exploring on its 100% owned properties and through strategic partnerships and joint ventures.
ON BEHALF OF THE BOARD
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:
Rick Mazur, President & CEO
Or Matt Terriss, Director, Corporate Affairs
Robin Cook, Senior Account Manager
CHF Investor Relations
Tel: 416-868-1079 x 228