Forum Uranium Corp.
TSX VENTURE : FDC

Forum Uranium Corp.

July 08, 2010 09:00 ET

Forum Arranges Financing With Qwest Investment Fund

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 8, 2010) - Forum Uranium Corp. (TSX VENTURE:FDC) is pleased to announce that it has arranged a $499,950 private placement of Flow Through Common Shares at a price of $0.09 per share with funds managed by Qwest Investment Fund Management Ltd.("Qwest") of Vancouver, BC.. Qwest is an investment management firm which specializes in identifying, structuring and managing investment products in the natural resources sector (www.qwestfunds.com).

Jennifer Stevenson, Executive Vice President of Qwest stated, "Forum has an experienced management team, an excellent portfolio of uranium projects with a focus in Canada and exceptional growth potential- all features that fit Qwest's investment criteria."

Rick Mazur, President & CEO stated, "Qwest has been a strong supporter of Forum's uranium exploration efforts since 2006. Our drilling success at Henday in Saskatchewan and the advancement of our strategic asset adjacent to Areva's Kiggavik mine development project in Nunavut are key growth prospects for the Company." 

Proceeds from this financing will be used to advance its North Thelon project in Nunavut. Subject to TSX approval, Qwest will own 14.4% of Forum's outstanding shares upon completion of this financing.

About Forum Uranium

Forum Uranium Corp. is a Canadian-based energy company with a focus on the acquisition, exploration and development of Canadian uranium and rare earth 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

Rick Mazur, P.Geo.
President & CEO

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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