Forum Uranium Corp.

Forum Uranium Corp.

December 03, 2007 09:00 ET

Forum Commences Drilling on Orchid Lake Project, Saskatchewan

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 3, 2007) - Forum Uranium Corp. (TSX VENTURE:FDC) and Global Uranium Corp. (TSX VENTURE:GU) are pleased to announce the commencement of a 1,500 metre (m) drill program on its Orchid Lake property, located 20 kilometres west of the Cameco/AREVA Key Lake Mine/Mill Complex in the Athabasca Basin of northern Saskatchewan. The Orchid Lake property is interpreted to host the western extension of the ENE structure that controls the Key Lake uranium deposits which had an average grade of 2.45% U3O8. The Key Lake mine was discovered by Uranerz Exploration and Mining Ltd. ("UEM") in 1976 and produced over 195 million pounds of uranium from 1983 to 1997.

Drilling will concentrate on the westward extension of an electromagnetic conductor that intersected uranium mineralization in basement structures that graded up to 0.19% U3O8 over a 0.2 metre core interval from drilling last winter. A further six km of this ENE trending conductor remains untested in an area coincident with a magnetic low anomaly that may represent favourable alteration related to uranium mineralization. On the newly acquired claim to the west of this area, strong electromagnetic conductors have been identified by a recent AeroTem survey that will also be drill tested.

Global can earn a 60% interest in the Orchid Lake property by making cash payments of $190,000, issuing 700,000 common shares of Global to Forum and incurring $2.25 million in exploration expenditures over a three year period. Forum is Operator of the Orchid Lake Project and results will be reported upon receipt of all 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 an option on 118,000 hectares of uranium potential 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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