Vancouver, B.C., October 31, 2019 - Forum Energy Metals Corp. (TSX.V: FMC) (“Forum”) is pleased to announce that it has received further positive assay results from three more holes on the Jansem target at the Janice Lake sedimentary-hosted copper project, drilled by Rio Tinto Exploration Canada (“RTEC”). These holes have expanded copper mineralization along strike from 270 metres to 400 metres.

Highlights from the three holes are:

• JANL0015 – 0.25% Cu over 60 metres from 12 to 72 metres depth
• JANL0003 – 0.16% over 6.7 metres from 36 to 42.7 metres depth
• JANL0004 – 0.05% Cu over 6 metres from 23 to 29 metres depth

Drill Hole Summary (Figure 1 & 2; Table 1)

Hole JANL0003 was drilled to a depth of 264 metres and intersected 0.16% copper over 6.7 metres from 36 to 42.7m. The hole is located 250m WNW of FEM-01 and was designed to test the down-dip extension of the mineralization intersected in FEM-01 and 03. After 10m of overburden, the hole intersected a mixture of meta-sediments that was weakly mineralized from 34 to 42m, then intersected the Janice Lake Formation conglomerate much higher than expected at 77m. This suggests the strata has flattened at this point.

Hole JANL0004 was drilled to a depth of 180 metres and intersected 6m of 0.05% Cu. It is located 300m NNE of FEM-01 and tested a magnetic high but intersected mainly pegmatite from surface to 66m, with a band of meta-sediments from 21 to 48m with weak mineralization occurring from 23 to 29m. The Janice Lake Formation conglomerate started at 66m and continued to the end of the hole. This suggests that the strata is flattening to the northwest.

Hole JANL0015 was drilled to a depth of 180 metres. Holes 14 and 15 were drilled from the same set-up at surface, but were drilled at -81 and -57 respectively. They are located approximately 150m west of JANL0002, along strike and slightly down-dip of the mineralization in FEM-01 and JANL0002. Copper mineralization started near surface in hole JANL0015 at 12 metres and continued to 72 metres, intersecting 60m of copper grading 0.25%. Including results announced in holes JANL0001 and JANL0002 (see news release dated October 1, 2019), the mineralized zone at Jansem is now present in several stratigraphic layers for a minimum of 400m in strike length, 130m in width, and with an estimated true thickness varying from several metres to more than 55m. Drill holes were orientated to crosscut the stratigraphy as close as possible at right angles, as the copper is interpreted to be mostly strata-bound.

Table 1: Assay results from Jansem target

*True widths of the reported mineralized intervals have not been determined.

All drillcore samples have been sent to ALS Global in Vancouver, BC for assay. Ken Wheatley, P.Geo. and Forum’s VP, Exploration and Qualified Person under National Instrument 43-101, has reviewed and approved the contents of this news release.

Quality Control/ Quality Assurance

Core samples were sawed in half, keeping the half with the reference line for orientated core in the box. Samples averaged 2 metres in length through the mineralized zone, 4 metres in length in the unmineralized zone, however these lengths varied depending on stratigraphy, alteration or mineralization. Standards were introduced after every 20th sample, using a high grade, low grade or unmineralized, depending on the surrounding core. Duplicates were also introduced on every 20th sample, quartering the core. Blanks were used for the first sample of the hole and at the beginning and end of a mineralized interval, using certified rose quartz. A 4-acid digestion was used on the samples at ALS lab in Vancouver, followed by analysis by ICP-MS (the ME-MS61L package). Higher grade samples may be run again through copper screen using the coarse reject material.

Janice Lake Summer Exploration Program Summary

RTEC completed a 4,318 line kilometre high resolution airborne magnetic survey over the entire 52 km length of the property and drilled 21 holes totalling 5,209 metres this summer under an Option Agreement to earn an 80% interest in the Janice Lake project by spending $30 million in exploration. Nine holes have been completed on the Jansem target, nine on the Janice target and three on the Kaz target (Figure 1). Results from the remaining holes will be reported once received from RTEC.

Figure 1: Location of the Target Areas on the Janice Lake Project

Figure 2: Drill Hole Locations on the Jansem Target Red dots are the three Rio Tinto holes reported in this release, yellow dots are holes previously released. The blue dots are the four Forum holes from 2018. Large black dots are 2019 Rio Tinto holes with assays pending and small black squares are historic holes.

About Forum Energy Metals

Forum Energy Metals Corp (TSX.V: FMC) explores for energy metals, including copper, nickel, platinum, palladium and uranium in Saskatchewan, Canada’s Number One mining province. In addition, Forum has also established a strategic land position in the Idaho Cobalt Belt. For further information: www.forumenergymetals.com

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.

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