Forum Uranium Corp.

Forum Uranium Corp.

September 26, 2007 09:00 ET

Forum Options Maurice Point Project to Mega Uranium

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 26, 2007) - Forum Uranium Corp. (TSX VENTURE:FDC) is pleased to announce that it has entered into an agreement with Mega Uranium Ltd. (TSX VENTURE:MGA) to explore and develop Forum's 100% owned Maurice Point property, located nearby Cameco Corporation's Maurice Bay uranium deposit in the Athabasca Basin of northern Saskatchewan. Mega can earn a 55% interest in the Maurice Point project by spending $8 million over three years and issuing 100,000 Mega shares to Forum. Mega has a $2 million firm commitment in the first year of the option and Forum will initially operate the project. Mega can earn a further 15% interest (total 70% interest) by delivering a positive feasibility study and arranging project financing. Forum has the option to convert its remaining 30% interest to a 2% NSR at its election.

Rick Mazur, President & CEO stated, "We are pleased that Mega shares in our belief that there is excellent potential for large uranium deposits in the western Athabasca Basin, as demonstrated by the AREVA and UEX Shea Creek discoveries. We look forward to working with Mega to advance the Maurice Point project over the coming years."

Forum acquired the 37,714 hectare Maurice Point property by claim staking in 2004. Cameco's 1.3 million lb. Maurice Bay deposit grading 0.6% U3O8 is located 3 km to the west of the western boundary of the Maurice Point property. The Maurice Bay deposit, discovered in 1977, hosts significant uranium mineralization perched in sandstone, at the unconformity and in the basement grading up to 3% over 13 metres from historical drilling. A disciplined exploration approach of geological mapping, prospecting, structural studies and airborne/ground geophysics over the 2005, 2006 and 2007 field seasons has defined a number of drill targets on the property that are prospective for unconformity-style uranium deposits. The main attributes of the Maurice Point project are:

1. The mineral occurrences in the area, including Cameco's 1.3 million lb. Maurice Bay deposit grading 0.6% U3O8, are controlled by cross structures along a 25 kilometre long northeast regional structural trend in the same way that uranium mines and deposits are controlled in the eastern Athabasca.

2. The Uranium Ridge, Beach and West Beach zones on Forum's property occur over a six kilometre stretch along this structure with grades ranging from 0.4% to 7.3% U3O8, located at the margin of the unconformity with the Athabasca sandstone. In addition, a number of structural/geophysical targets nearby Cameco's Maurice Bay deposit and along the northeast structural trend are prospective for uranium deposits.

3. Elevated boron values are associated with the uranium mineralization and hydrothermal bleaching and hematization is indicative of a major mineralizing event.

Preparations for airborne and ground geophysics followed by a drill program will commence after Mega has completed a 15 day due diligence period upon which the agreement is binding and the parties will proceed to a formal agreement. Ken Wheatley (P.Geo.), Vice President, Exploration and Qualified Person reviewed this release for its content.

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 160,000 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. Forum is the Operator of all its exploration projects and has a team of Uranium geologists with a track record of proven uranium mine finding experience.


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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