Forum Development Corp.

Forum Development Corp.

October 03, 2005 04:00 ET

Forum Identifies New Uranium Zone at Key Lake Road Project

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Oct. 3, 2005) - Forum Development Corp. (TSX VENTURE:FDC) is pleased to report on the status of the regional reconnaissance program conducted on its 100%-owned Key Lake Road Project located in the eastern Athabasca Basin of northern Saskatchewan, Canada. Forum has successfully discovered strong surface uranium accumulations along a major structural trend, the Key Lake Road Shear Zone. This trend has been interpreted by Forum's geological team as the southern extension of the structure that hosts Cameco's Millennium deposit, reported by Cameco to contain 34.6 million pounds of uranium grading 2.87% U3O8.

Several new uranium showings were discovered along multiple, sub-parallel graphitic electromagnetic conductive trends in Wollaston Group metasediments, within or proximal to the Key Lake Road Shear Zone. The NNE-trending Key Lake Road Shear Zone separates the Mudjatik Domain from the Wollaston Domain and extends for over 40 km within Forum's property.

Dr. Boen Tan, P.Geo., Forum's Chief Geological Consultant and Qualified Person stated, "The geological setting of the Key Lake Road Shear Zone mineralization exhibits many characteristics similar to the Millennium deposit and, more significantly, Forum's prospects occur on surface." Dr. Tan further elaborated, "The recent uranium discoveries from Forum's exploration programs conducted at both Maurice Point and Key Lake Road are very encouraging and help to support our near-surface, unconformity-type exploration model."

Numerous areas along the Key Lake Road Shear Zone have been outlined as containing anomalous radioactivity. Three of the showing areas are:

- Double D Zone - anomalous radioactivity was located along fractures and shears in graphitic pelitic gneiss over a 200 metre (m) long by 100 m wide zone at the Double D showing. The rocks are strongly sheared, clay altered and locally, strongly hematized. A similarly anomalous radioactive zone was also discovered in graphitic pelitic gneiss approximately 2 kilometres (km) south of the Double D.

- The Twilight Zone - located 1 km north of Double D along strike is a 20 m long zone of intense radioactivity in an overburden covered area that Forum's geological team could not explain by limited hand trenching.

- Thomas Lake / Molly / Nuclear Lake Zones - a discontinuous 9 km long structural trend of anomalous radioactivity in calc-silicates, graphitic pelitic gneiss and pegmatites.

The 107,988 hectare Key Lake Road permit and claim area, located along the highway servicing the Key Lake Uranium Mill, was acquired to test an exploration model for basement-hosted uranium mineralization below the erosional level of the overlying Athabasca sandstone. Forum conducted a comprehensive data compilation program since acquiring the property through the evaluation of geological formations, past geophysical targets and known historic uranium showings. The 7 week summer reconnaissance program consisted of prospecting, geological mapping and sampling. Prospective geological formations, past geophysical targets and known historic uranium showings were re-examined by a nine-man field and support crew. A total of 282 rock and 124 soil samples were collected. All samples were forwarded to Loring Laboratories Ltd. in Calgary for initial 32-element I.C.P. (Inductively Coupled Plasma) analysis and uranium assay. Assay and geochemical results are pending.

The exploration program was conducted by Bob Nichol, P. Geo. of Taiga Consultants Ltd. Calgary, Alberta, a Qualified Person in the Province of Saskatchewan and managed by Bruce Harmeson, B.Sc. (Geology), Forum's Uranium Project Manager. Dr. Boen Tan, P. Geo. (Saskatchewan), Forum's Chief Geological Consultant, is the Qualified Person supervising the evaluation of Forum's uranium exploration projects.


Rick Mazur, President & CEO

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