Vancouver, B.C., January 17, 2013 - Forum Uranium Corp. (FDC: TSX-V) is pleased to announce it has staked three claims immediately to the southwest of the Patterson Lake South (PLS) discovery of Alpha Minerals / Fission Energy in the Athabasca Basin, Saskatchewan. Forum’s technical team examined the extensive database of the Athabasca Basin that it has accumulated over the past 35 years and acquired approximately 99 square kilometres of prime real estate in a highly competitive staking rush.
Forum’s northernmost claim, staked immediately southwest of the Alpha/Fission ground is interpreted to be on strike with the conductive trend that hosts the newly discovered high-grade uranium mineralization on the Patterson Lake South project. This acquisition of the “Clearwater” project fits with Forum’s strategy of searching for shallow uranium targets in areas with nearby mineralization. Forum’s other projects with near surface uranium targets that can be developed by open pit methods include:
- Northwest Athabasca Project - Forum and NexGen Energy (jointly earning 60%), Cameco (27.5%) and Areva (12.5%) have announced recent drilling success and further drilling is planned for 2013.
- Key Lake Road Project (100% Forum) - numerous drill targets have been identified along the Wollaston Transition Zone in the eastern Athabasca Basin nearby Cameco’s Key Lake Uranium processing facility.
- Henday Joint Venture (Rio Tinto 60%; Forum 40%) – past drilling has identified uranium mineralization in an extensive alteration zone in the Mallen Lake area, and alteration has been noted in the southern part of the project along the Midwest trend which hosts the Midwest Lake, J Zone and Roughrider deposits.
Ken Wheatley, P.Geo. (Saskatchewan/Nunavut), Forum’s Vice President, Exploration is the Qualified Person that has reviewed and approved the contents of this news release.
About Forum Uranium
Forum Uranium Corp. is a Canadian-based energy company with a focus on the acquisition, exploration and development of Canadian uranium and rare earth 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. The Company is also evaluating North American rare earth prospects in Quebec and Nunavut.
Figure 1: Clearwater Claims - recently staked by Forum Uranium Corp.
Map simplified from the Saskatchewan government website and Fission website.
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:
Rick Mazur, President & CEO
Matt Terriss, Director, Corporate Affairs
Robin Cook, Senior Account Manager
CHF Investor Relations
Tel: 416-868-1079 x 228