Forum Uranium Corp.
TSX VENTURE : FDC

Forum Uranium Corp.

December 13, 2006 09:00 ET

Forum Uranium Corp.: Drilling on Key Lake Road Project Finds Multiple Zones of Uranium

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Dec. 13, 2006) - Forum Uranium Corp. (TSX VENTURE:FDC) is pleased to announce initial results from its 7,000 metre (m) 2006/2007 drill program on its 100%-owned Key Lake Road property. The first five holes (858 m) out of a total of fourteen holes drilled on the DD Zone and Rainbow Zone intersected multiple zones of uranium mineralization. Intercepts of 1.5 m grading 0.05% U3O8 in DD-03 (including 0.18% U3O8 over 0.25 m) and 0.50 m grading 0.08% U3O8 in DD-01 (including 0.15% U3O8 over 0.25 m) were intersected at the DD Zone. These intercepts and a number of uranium intercepts ranging from 0.02% to 0.05% U3O8 with a trace of sooty pitchblende occurs in association with sheared, altered graphitic rocks and hematitic breccia. The Company is currently awaiting further results from the remaining five holes drilled in the DD area and four holes drilled on the Rainbow zone, located approximately 4 km south of DD along the C1 Conductor.

The Company is highly encouraged by the occurrence of uranium in strongly sheared and altered graphitic rocks along the C1 conductor that extends for a 40 km length on Forum's Key Lake Road property. The C1 electromagnetic conductor has been outlined along the Key Lake Road shear zone, a highly prospective tectonic zone that hosts many of the economic uranium deposits located in the Eastern Athabasca. Almost all of the electromagnetic conductors in the area are covered by lakes and swamp. The outcrop mineralization in the DD Zone is located around 200 m to the east in the hangingwall of the C1 conductor. The potential for subparallel structures hosting an economic uranium deposit on the Key Lake Road property is well demonstrated by the uranium occurrences found in holes DD-01 and DD-03 at the DD Zone.

Many geological similarities to Cameco's basement-hosted unconformity-style Millennium deposit are exhibited in the drilling at DD. Forum plans to undertake a further 5,000 m of wide spaced drilling in January on a number of uranium showings that were discovered over the past two years of exploration in the area of Cameco's Key Lake mine, including the Hobo, Millison and Orchid Lake showings, with follow-up drilling at DD and Rainbow planned for later in the winter drill campaign. Widespread uranium occurs in basement rocks along the Key Lake Road shear zone and the objective of this year's drill campaign is to test a number of these uranium occurrences in order to prioritize targets for a second phase of drilling.

To view a drill plan of Forum's initial drilling program at DD and Rainbow visit: http://www.forumuranium.com/s/KeyLakeRoad.asp

Quality Assurance/Quality Control

Samples were hand delivered by the Company's geological contractors, Taiga Consultants Ltd. in security sealed containers to Loring Laboratories Ltd. in Calgary, Alberta. Rock samples are crushed to minus 10 mesh, split to a 250 gram sample and pulverized to 90% passing 150 mesh. Samples are analyzed by 30 element ICP analysis which report as ppm uranium and uranium content is converted to %U3O8 content. ICP results over 1000 ppm uranium are check assayed by fluorometric analysis. A result of 0.1% U3O8 is equivalent to 2 pounds of U3O8 per short ton. All holes were logged with a downhole radiometric probe. Dr. Boen Tan, P. Geo. (Saskatchewan), Forum's Chief Geologist and Qualified Person supervised the Key Lake Road drill program and interpretation.

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% interest in the Costigan Lake Joint Venture and a 50% interest in the Haultain River Joint Venture located in the prolific Athabasca Basin, Saskatchewan. Forum also has a 50% joint venture interest in over 100,000 hectares of prospective ground nearby AREVA's Kiggavik uranium deposit in the Thelon Basin, Nunavut Territory. Forum is the Operator of all its exploration projects.

ON BEHALF OF THE BOARD

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


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