Forum Uranium Corp.

Forum Uranium Corp.

October 24, 2007 16:15 ET

Forum Commences Drilling on Key Lake Road Project, Saskatchewan

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 24, 2007) - Forum Uranium Corp. (TSX VENTURE:FDC) is pleased to announce that it has commenced an 8,000 metre (m) drill program on its Key Lake Road property, located 60 kilometres (km) from the Cameco/AREVA Key Lake uranium processing facility. Forum has defined several target areas for near surface basement-style uranium mineralization. The drill program is expected to continue through to April, 2008 in search for a deposit modeled after Cameco's 50 million pound Millennium uranium deposit.

The initial helicopter-supported drill campaign for October and November is slated to follow-up on targets identified along a major shear structure, the Key Lake Road Shear Zone that was tested in a first phase drill program conducted last winter. Drilling will be conducted on:

- DD Zone - Follow up drilling on Hole DD-16 where multiple zones of uranium mineralization were intersected in strongly sulphide-altered and silicified graphitic rocks over 140 m in the drillhole.

- Molly Zone - Initial drilling on an 8 km long zone of uranium mineralization grading up to 5.3% and on a strongly mineralized graphitic shear structure which was trenched over its 24m length and its 3m width. A chip sample over 3m yielded an assay of 0.16% U3O8 (see News Release dated October 10, 2007).

- Costigan Lake Joint Venture (65% Forum; 35% NVI Mining, a subsidiary of Breakwater Resources) - Follow-up drilling from a drill program conducted in March, 2006 where uranium mineralization grading up to 0.43% U3O8 over 0.36 metres has been intersected along a 10 km long graphitic conductor.

- Orchid Lake (Global Uranium earning a 60% interest) - Follow-up drilling on uranium intercepts of 0.19% U3O8 over narrow intervals along a major graphitic conductor interpreted to be the westward extension of the Key Lake Mine Fault Zone (see News Release dated March 12, 2007). On claims acquired to the west, strong electromagnetic conductors have been identified by a recent AeroTem survey that will also be drilled.

Results will be reported upon receipt of assays from the lab.

Ken Wheatley, P.Geo. (Saskatchewan), Forum's Vice President, Exploration and Dr. Boen Tan, P.Geo. (Saskatchewan), Forum's Chief Geologist, are the Qualified Persons that have reviewed 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 uranium projects. The Company has a 100% interest in over 190,000 hectares of uranium exploration properties, a 65% operating interest in the Costigan Lake Joint Venture with partner NVI Mining (Breakwater Resources) and a 50% operating interest in the Haultain River Joint Venture with partner Hathor Exploration in the prolific Athabasca Basin, Saskatchewan. Forum also has a 50% operating interest in the North Thelon Joint Venture ("NTJV") with partner Superior Diamonds in over 100,000 hectares of prospective ground nearby AREVA's 130 million pound U3O8 Kiggavik uranium deposit in the Thelon Basin, Nunavut Territory. The NTJV has recently optioned property in the Kiggavik area from Tanqueray Resources Ltd.


Richard J. Mazur, P.Geo., President & CEO

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

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