Vancouver, B.C., May 11, 2015 - FDC: TSX-V- Forum Uranium Corp. (“Forum” or the “Company”) will conduct ground gravity and radon surveys on its 100% owned Fir Island Project to define drill targets along the newly identified East Channel Structural Corridor. Five holes from the recent drill program encountered intense alteration (quartz dissolution, dravite and sudoite alteration minerals) within sandstones over a major structural lineament (Figure 1). Secondary hematite and weakly anomalous radioactivity were intersected in the last three holes (FI-8, 9 and 10) of the winter drill program. Assay results are pending.
The East Channel trend occurs for over 18 kilometres on Forum’s property; the winter drill program tested only 50 metres of this strike length. The proposed gravity survey will cover approximately 5 kilometres of the East Channel Trend on Fir Island and along the Black Bay Fault. Gravity measurements will be taken at stations 100 metres apart along lines spaced at 200 metre intervals to identify areas favourable for uranium mineralization for future drilling. The sandstone cover to the unconformity with basement rocks is shallow, varying from surface to a depth of 200 metres.
The parallel Black Lake structure, located 1.5 kilometres to the west, can be traced for at least 200 kilometres across the entire Athabasca Basin and is associated with Cameco’s Centennial deposit with intersections of up to 33.9 metres averaging 8.78% U3O8 (Source: Formation Metals website) This major structural zone exhibits similarities to the Wollaston–Mudjatik tectonic zone that hosts 16% of world uranium production, but remains relatively underexplored. Forum is taking a similar approach as Fission Uranium at Patterson Lake South by exploring new, prospective uranium districts such as Fir Island.
Figure 1: Map of the Fir Island Project. Claims are outlined in black. Both the Black Lake fault and the East Channel are wide structural zones. The Black Lake fault has numerous uranium showings along it, while the East Channel has only been tested by Forum with five holes to date.
Ken Wheatley, P.Geo. , 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 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 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