Forum Uranium Corp.

Forum Uranium Corp.

January 22, 2007 09:00 ET

Forum Uranium and Hathor Exploration Identify Major Uranium Trend on Haultain River Project, Northern Saskatchewan

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Jan. 22, 2007) - Forum Uranium Corp. (TSX VENTURE:FDC) and 50% joint venture partner Hathor Exploration Ltd. (TSX VENTURE:HAT), are pleased to announce that they have delineated more than 45 line kilometres of electromagnetic ("EM") conductors on their 10,148 hectare (25,076 acres) Haultain River uranium property in the prolific Athabasca Basin, northern Saskatchewan.

The Haultain River claims cover the same basement geological setting as the high-grade, eastern Athabasca area orebodies that are responsible for approximately one-third of the world's annual mine production of uranium. Using the McArthur River, Millennium and Eagle Point unconformity-style uranium deposits as models, exploration targets on the Haultain River property are shallow, basement-hosted "root zones" as are found at these deposits.

Unconformity-style uranium orebodies are commonly associated with graphitic rocks that may allow for the creation of the favourable geological structural settings necessary for the formation of this type of deposit. Such graphitic metasediments and graphitic fault zone rocks within the eastern Athabasca area are commonly expressed geophysically as EM conductors.

A compilation of assessment data in the Haultain River joint venture area identified historic EM conductors and surface uranium showings. As a result, the Haultain River claims were staked to cover an interpreted 15 km extension of the Key Lake Road Shear Zone where basement-hosted uranium mineralization was discovered by Forum on its adjacent 100% owned Key Lake Road project during the 2005 and 2006 field seasons.

On the Haultain River property, the recently completed 623 line kilometre "AeroTEM III" helicopter-borne, time domain EM survey confirms that the newly-identified, NE to NNE-trending EM conductors are the geophysical expression of Key Lake Road Shear Zone graphitic rocks. On Forum's Key Lake Road property, to the immediate northeast of the Haultain River project and on trend with the Haultain River conductors, Forum recently reported the discovery of uranium mineralization in association with graphitic rocks at the Molly Zone. Similarly, at the Hobo Zone, a northeast trending, graphitic EM conductor occurs within 50 to 100 m from the main mineralized zone where a strongly silicified and hematized graphitic metapelite outcrop over a 20 m strike length assayed up to 1.07% U3O8.

Follow-up ground geological, geochemical and geophysical exploration will allow Forum and Hathor to formulate prospective targets for future diamond drilling.

Forum and Hathor each have a 50% interest in the Haultain River joint venture, with Forum as the operator. The project area is well-located, being approximately 90 km southwest of the Key Lake uranium mill complex of Cameco Corporation and AREVA Resources Canada Inc. Saskatchewan Provincial Highway 914 provides year-around access to Key Lake and crosses the Haultain River joint venture property.

Dr. Boen Tan, P. Geo. (Saskatchewan), Forum's Chief Geologist and Qualified Person is supervising the exploration program on the Haultain River Project. Phil Robertshaw, P.Geo. (Saskatchewan), Forum's Geophysical Consultant is supervising the geophysical interpretation of the airborne data.

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% interest in the Costigan Lake Joint Venture and a 50% interest in the Haultain River Joint Venture located in the prolific Athabasca Basin, Saskatchewan. Forum also has a 50% joint venture interest in over 100,000 hectares of prospective ground nearby AREVA's Kiggavik uranium deposit in the Thelon Basin, Nunavut Territory. Forum is the Operator of all its exploration projects.


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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