Vancouver, BC, May 21, 2024 - Forum Energy Metals Corp. (TSX.V: FMC, OTCQB: FDCFF) (“Forum” or the “Company”) announces it has commenced construction of its drill camp on the Aberdeen Uranium Project, located adjacent to Orano’s 133 million pound Kiggavik uranium deposit in the Thelon Basin, Nunavut. Forum’s contactor, Inuit-owned Peter’s Expediting Ltd. completed 11 trips of drills, camp and other equipment by sled train to the site located 120 kilometres west of Baker Lake, Nunavut. The snow has cleared and Discovery Mining Services of Yellowknife, NWT has commenced construction of a 30-person drill camp to support a 10,000 metre drill program by mid-June. Follow-up drilling will focus on building a resource identified by four holes drilled over a 200-metre strike length into the Tatiggaq deposit in 2023 which intersected up to 2.25% U3O8 over 11.1 metres. The structure hosting uranium mineralization at Tatiggaq extends for 1.5 kilometres within a highly altered uranium mineralized system.

Dr. Rebecca Hunter, Vice President, Exploration commented, “Forum’s geological team is evaluating the recent Ambient Noise Tomography (ANT) results to establish initial targets for the June drill program.”

Figure 1 Fuel tanks, sea containers with drills, camp materials and other equipment were successfully transported by sled train to the site of the Aberdeen drill camp by Inuit-owned contractor, Peter’s Expediting Ltd. A 10 person crew with helicopter support from Forest Helicopters, Kenora, Ontario has been mobilized to build the camp for this summer’s drill program.   

About Forum Energy Metals

Forum Energy Metals Corp. (TSX.V: FMC; OTCQB: FDCFF) is focused on the discovery of high grade unconformity-related uranium deposits in the Athabasca Basin, Saskatchewan and the Thelon Basin, Nunavut.

For further information: https://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.

For further information contact:

Rick Mazur, P.Geo., President & CEO     
mazur@forumenergymetals.com
Tel: 604-630-1585