Forum Uranium Corp.

Forum Uranium Corp.

June 18, 2008 06:00 ET

Forum Mobilizes Gravity Crews to North Thelon JV Property Adjacent to Areva's Kiggavik Uranium Deposit, Nunavut

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 18, 2008) - Forum Uranium Corp. (TSX VENTURE:FDC) ("Forum"), operator of the North Thelon Joint Venture ("NTJV") with 50% partner Northern Superior Resources Inc. (TSX VENTURE:SUP), is pleased to announce the mobilization of ground gravity crews to the NTJV project. The property is located along prospective ground for similar style uranium deposits as AREVA's 148 million pound Kiggavik uranium deposit which is undergoing a full feasibility study. Gravity surveys are being conducted to follow-up on targets outlined by a 7,900 line kilometres RESOLVE airborne survey completed over 100%-owned ground held by the NTJV and ground optioned from Agnico-Eagle Mines Ltd. (AEM-T) and Tanqueray Resources Ltd. (TSX VENTURE:TQY).

The FUGRO-operated airborne survey covered 1,400 square kilometres of ground with outstanding potential for similar style uranium deposits to the north, northeast and east of AREVA's three deposits. This survey delineated the regional and local fault systems of the area, and the current gravity survey will identify areas of alteration (gravity lows) that may be associated with uranium mineralization at the intersection of the faults. This method of exploration has proven successful in the discovery of two of the Kiggavik deposits that occur along east-northeast and north-northeast trending lineaments.

Structurally-controlled uranium mineralization grading up to 1.3% was identified on 10 showings during the 2007 prospecting and mapping program on the property. This information, in combination with the Fugro survey and gravity surveys, will be used to develop drill targets. A 3,000 metre drilling campaign is set to commence in July. The newly acquired ground from Agnico-Eagle will also be prospected, mapped and possibly drilled during the 2008 field season.

The Kiggavik Uranium Deposit

Exploration for uranium in the northern Thelon Basin was conducted primarily from the mid-1970's to the mid-1980's culminating in the discovery of the Kiggavik deposits located 80 km west of Baker Lake, Nunavut by Urangesellschaft Canada Ltd. AREVA acquired the project in 1993. Forum and Northern Superior staked ground adjacent to AREVA's Kiggavik property in 2006 and optioned the Tanqueray property and the Agnico-Eagle property in 2007 and 2008 respectively. A uranium development policy for the Territory of Nunavut was adopted in September, 2007 and shortly thereafter, AREVA, JCU (Canada) Exploration Company Limited of Japan and DAEWOO International Corporation of Korea announced the commencement of a two year feasibility study and the regulatory process to obtain the necessary approvals for a uranium mine and mill complex on the Kiggavik deposits (See AREVA News Release dated December 3, 2007). AREVA reports a resource estimate of 148 million pounds of uranium at an average grade of 0.24% U (0.28% U308).

Ken Wheatley, P.Geo. (Saskatchewan and Nunavut), Forum's Vice President of 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 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.


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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