Vancouver, B.C., February 8, 2013 - Forum Uranium Corp. (FDC: TSX-V) is pleased to announce it has completed an initial compilation of available geological, geochemical and geophysical data on its newly acquired, 100% owned Clearwater Project, located on trend to the southwest of Fission Energy/Alpha Minerals Patterson Lake South uranium mineralization. Forum’s northernmost claim, staked immediately southwest of the Alpha/Fission ground is interpreted to be on strike with the fertile conductive trend that hosts the newly discovered high-grade uranium mineralization on the Patterson Lake South project.
A historic regional lake sediment sampling program was conducted over the Patterson Lake area. The highest lake sediment value in the area lies in the southwest Forum claim (Figure 1 below) with a value of 8.3ppm. Most values are between 1ppm to 3ppm. Regional airborne magnetic data (Figure 1) suggests the presence of an Archean granite/gneiss complex on the west side of the Forum claims. The contact between the Archean rocks and the younger Proterozoic rocks that host the graphitic conductors has proved to be a favourable zone for uranium mineralization, as seen at Key Lake, McClean Lake and Rabbit Lake on the east side of the basin, and Cluff Lake to the north of the Patterson Lake South discovery.
Historic electromagnetic (EM) surveys did not extend onto the Forum ground. Future plans are to cover the Forum claims with an EM survey to delineate graphitic lineaments, and a detailed boulder /prospecting survey to search for any boulder fields similar to that found on the Fission/Alpha ground.
The presence of the fertile conductive trend with high-grade uranium values greatly enhances this part of the Athabasca Basin which has been underexplored to date. The Clearwater claims add another excellent project to the Forum portfolio within the Athabasca Basin.
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.
Figure 1: Clearwater claims with magnetic background. Lake sediment samples from a regional survey are shown. The highest value of 8ppm is on Forum ground. EM conductors are shown as green lines.
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 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