Forum Uranium Corp.

Forum Uranium Corp.

October 10, 2007 16:30 ET

Forum Defines Drill Targets on Molly Zone, Key Lake Road Project

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 10, 2007) - Forum Uranium Corp. (TSX VENTURE:FDC) is pleased to announce results from a detailed structural mapping and prospecting program this past summer on the Molly Zone within its Key Lake Road property, located 70 kilometres from the Cameco/AREVA Key Lake uranium processing facility. A 1,200 metre drill program of 8 short holes averaging 150 metres (m) in length into this near surface, exploration target is planned in October/November 2007. Forum is exploring for basement-style uranium mineralization similar to Cameco's 50 million pound Millennium uranium deposit in the Key Lake area.

Geological mapping and prospecting carried out in 2006 discovered uranium occurrences within graphitic metapelite and pegmatites in a 100 m long by 10 m wide zone with grab samples ranging from 185 ppm U to 0.23% U3O8. A program of detailed structural mapping and prospecting was undertaken this past summer to focus on the "Molly Graphite Showing".

Prospecting expanded the Molly Graphite Showing over an area encompassing 200 m by 50 m. A newly discovered outcrop within this zone identified a strongly mineralized graphitic shear structure which was trenched over its 24m length and its 3m width. Anomalous radioactivity was found over the entire length of the trench where a chip sample over 3m yielded an assay of 0.16% U3O8. The strong electromagnetic conductor along the Key Lake Road Shear Zone, a key locale for potential economic uranium deposits of the Millennium-type basement hosted deposits, occurs within 50 metres of this occurrence.

Forum has contracted Major Drilling to conduct an 8,000 metre drill program from October 2007 through to April, 2008 in the Key Lake Road project area. Major is currently mobilizing its crews to the project area.

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.

Contact Information