VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 26, 2010) - Forum Uranium (TSX VENTURE:FDC) is pleased to announce results from the recently completed winter drill program on its 100% owned Key Lake Road Project. A total of ten holes were completed for 1,773m. TED-01, the first hole, intersected 8.3m of a fault zone from 102.9m to 111.2m, with sheared graphitic pelitic gneiss, strong fault gouges and breccias. Anomalous uranium mineralization was encountered over a 5.5m interval with intersections of 40cm of 139ppm U and 20cm of 553ppm U.
This graphitic fault zone extends approximately 6km east and west, as defined by an EM geophysical survey, but only 400m of strike length was tested by the 2010 drill program. The section that was drilled exhibited sections of massive graphite with strong sericite, chlorite and local brick-red hydrothermal hematite with minor uranium and associated metals (see Table 1).
The discovery of this graphitic and altered fault zone is very important as most of the uranium deposits in the Athabasca Basin are associated with a graphitic fault zone. The company plans on re-assessing this area for a future drill program. A total of 8 holes were drilled on this section of the property, investigating two gravity lows along the EM conductor.
Table 1: Geochemistry of Selected Elements from TED-01
||103.7 – 104.1m
||106.4 – 106.6m
||109.0 – 109.2m
Two holes were completed in a second drill area (Costco 2) located approximately 5km north-east of the Costco 3 grid. A total of 6 holes were planned for this area, but poor ice conditions limited the drilling to land based holes, targeting a combination of a large gravity low (1.6km x 300km) and EM conductors. Both holes encountered only unaltered pelitic gneisses, but tested very little of the 1.6km of the gravity low.
Six holes on the Highrock project were also scheduled to be drilled but warm weather in March caused the lake to start melting and the program had to be abandoned early. The company intends to drill the Highrock project in winter of 2011.
Ken Wheatley, P.Geo. (Saskatchewan, Nunavut), Vice President, Exploration is the Qualified Person that has reviewed the contents of this news release.
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. 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.