Forum Uranium Corp.

Forum Uranium Corp.

February 20, 2007 09:00 ET

Forum Uranium Completes Orchid Lake Drilling; Moves to Hobo

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Feb. 20, 2007) - Forum Uranium Corp. (TSX VENTURE:FDC) is pleased to announce that nine holes comprising 1,140 metres of drilling have been completed on the Orchid Lake project. Samples have been sent to Loring Laboratories Ltd., Calgary, Alberta and assays are anticipated in March. Follow-up drilling is planned at Orchid Lake later this year. A further 20 drill holes are planned this winter drill season on Forum's 100% owned Key Lake Road property. The drill is currently being mobilized to the Hobo zone.

The targets on the Orchid Lake property are shallow, basement-hosted, unconformity-type uranium deposits. The project is located 20 kilometres west of the Cameco/AREVA Key Lake Uranium Mill in the prolific Athabasca Basin of northern Saskatchewan. The Orchid Lake property is interpreted to lie on an ENE structure that hosts the Key Lake uranium deposit that had an average grade of 2.45% U3O8. The Key Lake mine produced over 195 million pounds of uranium from 1983 to 1997.

A Geotech Ltd. VTEM airborne magnetic/electromagnetic survey in 2005 identified two conductors- the P and Q conductors. Both conductive targets are interpreted as graphitic sediments of the Wollaston group, host to many uranium deposits and prospects in the eastern Athabasca Basin where one-third of the world's uranium is produced. Anomalous uranium in lake sediments and uraniferous boulders of pegmatite with lenses of graphitic gneiss grading up to 0.1% U3O8 occur in the area. Six holes were completed on the P conductor and three holes were completed on the Q conductor.

Global can earn a 60% interest in the Orchid Lake property by making cash payments of $190,000, issuing 700,000 common shares of Global to Forum and incurring a $2.25 million exploration commitment over a three year period. Forum also retains a 3% Net Smelter Return Royalty and is the operator of the project. Dr. Boen Tan, P. Geo. (Saskatchewan), Forum's Chief Geologist and Qualified Person is supervising the exploration program on the Orchid Lake Project.

About Forum Uranium

Forum Uranium Corp. is a Canadian-based energy company with a focus on the acquisition, exploration and development of uranium projects. The Company has a 100% interest in over 160,000 hectares of uranium exploration properties, a 65% operating interest in the Costigan Lake Joint Venture with partner NVI Mining (Breakwater Resources) and a 50% operating interest in the Haultain River Joint Venture with partner Hathor Exploration in the prolific Athabasca Basin, Saskatchewan. Forum also has a 50% operating interest in the North Thelon Joint Venture with partner Superior Diamonds in over 100,000 hectares of prospective ground nearby AREVA's 130 million pound U3O8 Kiggavik uranium deposit in the Thelon Basin, Nunavut Territory.


Richard J. Mazur, P.Geo., President & CEO

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