Forum Development Corp.

Forum Development Corp.

August 30, 2005 18:04 ET

Forum Development Corp.: New Uranium Zone Discovered at Maurice Point Project, Athabasca Basin

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Aug. 30, 2005) - Forum Development Corp. (TSX VENTURE:FDC) is pleased to announce the discovery of a new zone of uranium mineralization at its 100%-owned Maurice Point project in northern Saskatchewan. Maurice Point is located on the northwestern edge of the Athabasca Basin and is immediately adjacent to Cameco's Maurice Bay uranium deposit hosting a reported 1.3 million pounds of U308 @ 0.6%.

The new Forum discovery, the Beach Zone, is located 500 metres (m) north of the historic Uranium Ridge showing, where uranium mineralization up to 0.5% occurs in shear-hosted metasedimentary rocks. The Beach Zone mineralization occurs in a breccia zone of significantly higher radioactivity than at Uranium Ridge that can be traced on surface for at least 100 m within siliceous, hematitic quartzite and argillite. Further prospecting encountered a similar style of mineralization to the north of the Beach Zone. Assay results from initial samples collected in the discovery area are pending.

The Beach Zone uranium discovery and potential extensions based upon recent geological investigations have resulted in the staking of a 4.5 kilometre (km) by 10.5 km claim (4,729 hectares) located east of the Company's existing permit area. The new claim also covers a nearby east-northeast trending airborne electromagnetic conductor identified by the Company's GEOTEM survey conducted in May of this year. A map showing the extended claim area may be viewed here:

Forum's exploration team is currently conducting regional reconnaissance on the Company's extensive, 100% owned Key Lake Road permit area located 20 km south of Cameco's Key Lake Mine/Mill complex. The Key Lake Road project is located along the Mudjatik-Wollaston trend, host to all current producing uranium mines in Canada. Forum is exploring for structurally-related unconformity deposits similar to Cameco's Millenium, McArthur River and Eagle Point deposits however, Forum's Key Lake Road targets are believed to occur at or near surface.

Rick Mazur, P Geo, President and CEO of the Company, is the qualified person supervising the evaluation of Forum's uranium projects.

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 150,000 hectares of uranium exploration properties located in the prolific Athabasca Basin, Saskatchewan. Forum is also evaluating a Coalbed Methane (CBM) project in the Merritt Coalfield in southern British Columbia.


Rick Mazur, President & CEO

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