Vancouver, B.C., February 26, 2015 - FDC: TSX-V- Forum Uranium Corp. (“Forum” or the “Company”) is pleased to announce that a 3,000 metre drill program has commenced on Forum’s 100% owned Fir Island project located along the north rim of the eastern Athabasca Basin. This project is strategically located on the Centennial - Black Lake Structural Corridor that transects the entire basin, and has road access to the nearby AREVA McClean Lake Mill and the Cameco Rabbit Lake Mill. Cameco’s Centennial deposit lies at the south end of the corridor, and the historic Nisto mine (106 tonnes mined at 1.63% U3O8) lies within 200 metres of the Forum claim boundary.
Exploration work by the previous operator and by Forum in 2014 has developed a number of excellent drill targets, both along and adjacent to the Black Lake corridor, using airborne EM and mag, ground gravity and resistivity surveys (see Figure 1). Several of the targets are defined by combination of all the geophysical surveys, with one of the largest targets lying parallel to the Nisto mine and associated outcropping uranium mineralization 300 metres to the west.
The thickness of Athabasca sandstone on this property varies from 0 to approximately 200 metres, excellent for testing multiple shallow targets to the underlying basement rocks. This project has seen very limited historic drilling, making it one of Forum’s top exploration prospects.
Ken Wheatley, P.Geo. , Forum’s Vice-President, Exploration is the Qualified Person that has reviewed and approved the contents of this news release.
Figure 1: Compilation Map of the Fir Island Project. Ground gravity and resistivity survey inserts show areas of alteration. The Black Lake structural corridor (in pale green) transects the project, and offsets the edge of the Athabasca sandstone basin by approximately 12km.
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
Or: Matt Terriss, Director, Corporate Affairs
Robin Cook, Senior Account Manager
CHF Investor Relations
Tel: 416-868-1079 x 228