Forum Uranium Corp.
TSX VENTURE : FDC

Forum Uranium Corp.

June 09, 2008 09:00 ET

Forum Announces $3,000,000 Brokered Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 9, 2008) - Forum Uranium Corp. (TSX VENTURE:FDC) (the "Company"), is pleased to announce that it has retained Raymond James Ltd. and Deacon & Company Capital Markets Inc. (collectively, the "Agents") to act as the Company's agents for a brokered private placement financing. The Agents will be offering the financing to a predetermined group of clients on a best efforts basis. The offering will consist of up to 6,666,667 flow-through common shares ("FT Shares") of the Company at a price of $0.45 per FT Share for total gross proceeds of up to $3,000,000.

The Agents will receive a cash commission on the sale of the FT Shares representing 8% of the gross proceeds. The Company will also issue an Agent's Option equal to 8% of the number of FT Shares issued, entitling the Agents to purchase that equivalent number of common shares of the Company at a price of $0.45 per common share for a period of 18 months following the date of closing of the financing. In accordance with securities legislation currently in effect, the FT Shares and Agent's Option will be subject to a hold period of four months plus one day from the date of closing of the financing. The private placement is subject to acceptance by the TSX Venture Exchange.

The proceeds of the sale of the FT Shares will be used for exploration and development of the Company's Thelon and Athabasca Basin uranium properties.

About Forum Uranium

Forum Uranium Corp. is a Canadian-based energy company with a focus on the acquisition, exploration and development of Canadian uranium projects in the Athabasca Basin, Saskatchewan and the Thelon Basin, Nunavut. Forum has assembled a highly experienced team of exploration professionals with a track record of mine discoveries for unconformity-style uranium deposits in Canada. The Company has a strategy to discover near surface uranium deposits nearby existing infrastructure by exploring on its 100% owned properties and through strategic partnerships and joint ventures.

ON BEHALF OF THE BOARD

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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