Forum Development Corp.
TSX VENTURE : FDC

Forum Development Corp.

April 11, 2006 13:49 ET

Forum Development Corp.: Drilling Completed on Costigan Lake Uranium Joint Venture, Maurice Point Geophysics Underway, Athabasca Basin, Saskatchewan

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - April 11, 2006) - Forum Development Corp. (TSX VENTURE:FDC) and its joint venture partner NVI Mining Ltd. ("NVI"), a wholly-owned subsidiary of Breakwater Resources Ltd. (TSX:BWR), are pleased to announce the completion of its drilling program on the Costigan Lake Uranium Joint Venture, located 14 kilometres (km) southwest of the Cameco/COGEMA Key Lake Mine and Mill complex in the Athabasca Basin, northern Saskatchewan. Forum further provides an update on its geophysical programs on the Maurice Point project.

Costigan Lake JV Drill Program (65% Forum; 35% NVI)

Four conductive trends were identified by the MaxMin Horizontal Loop Electromagnetic survey completed in March. Six holes, totalling 824 metres (m) tested two of these electromagnetic conductive trends on the property. Spring break-up did not allow for completion of the originally announced 1,000 m drill program.

Wide spaced drilling focused on the 2.4 km long C3 conductor which hosts uranium mineralization grading 0.088% U3O8 over 4 m (including 0.43% U3O8 over 0.36 m) from drilling in 1978-79. Forum's drilling intersected graphitic metasediments, clay alteration and structurally deformed rocks. Downhole radiometric logging encountered anomalous radioactivity in three of five holes drilled on the C3 conductor. The results warrant further drilling and a detailed interpretation of the drill data will be reported when assays are received from Loring Laboratories Ltd. of Calgary, Alberta.

Maurice Point Geophysical Program (100% Forum)

Robertshaw Geophysics Ltd. concluded in their report on the 2005 Fugro GEOTEM airborne electromagnetic and magnetic survey of the Maurice Point property that five conductive features with significant strike extent required further investigation. Seven grids were established in March for follow-up gravity and Fixed Loop Time Domain Electromagnetic ("TEM") geophysical surveys over these five conductive trends and over two areas of uranium mineralization.

Gravity and TEM surveys were completed over the Beach Zone, where uranium mineralization over a 100 m strike extent, grading up to 7.3% U3O8, was discovered in outcrop by Forum last field season. A second gravity survey was conducted approximately 5 km east of Cameco's Maurice Bay uranium deposit where Eldorado Nuclear Ltd. (a predecessor company to Cameco Corporation) intersected uranium mineralization grading 0.064% U3O8 over 3 m in a 1979 drillhole. This intercept occurs within chloritized shears in graphitic gneiss at a depth of 368 m, approximately 50 m below the unconformity with the Athabasca sandstone.

Gravity survey profiles were also completed on each of the five TEM grids, perpendicular to the axes of the respective conductors. Four of the conductive trends are northwest-southeast oriented features, located approximately 5 km south and southeast of Cameco's Maurice Bay deposit. A fifth conductor is located in the northeast part of the property, south of the Beach Zone. The TEM surveys are currently underway and are expected to be completed by the end of April. The gravity data is being processed for interpretation.

Dr. Boen Tan, P. Geo. (Saskatchewan), Forum's Chief Geological Consultant and Qualified Person is supervising the Costigan Lake drill program and interpretation. Phil Robertshaw, P.Geo. (Saskatchewan), Forum's Geophysical Consultant, is supervising the Costigan Lake and Maurice Point geophysical programs.

Forum Development Corp. is a Canadian-based energy company with a focus on the acquisition, exploration and development of energy projects. The Company has a 100% interest in over 165,000 hectares of uranium exploration properties and a 65% interest in the Costigan Lake Joint Venture located in the prolific Athabasca Basin, Saskatchewan. Forum is also evaluating a Coalbed Methane (CBM) project in the Merritt Coalfield in southern British Columbia. For further information about Forum, visit our website at www.forumdevelopmentcorp.com or contact Investor Relations at (604) 685-6377.

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.

Contact Information