Forum Uranium Corp.
TSX VENTURE : FDC

Forum Uranium Corp.

January 09, 2007 09:00 ET

Forum Uranium Corp.: Further Uranium Intersected From Shallow Drilling on Key Lake Road Project

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Jan. 9, 2007) - Forum Uranium Corp. (TSX VENTURE:FDC) is pleased to announce further results from Forum's 7,000 metre (m) drill program for the 2006/2007 drill season from holes DD-06 to DD-10 on its 100% owned Key Lake Road property. Uranium mineralization at shallow depths in two of these holes was encountered in strongly sheared and altered graphitic pelite north of the DD Zone along the C1 conductor. These intercepts are significant as they indicate that uranium mineralizing processes have been active in the area. These angle drillholes ranged from 134 m to 197 m in length. Many geological similarities to Cameco's basement-hosted unconformity-style Millennium deposit are exhibited in the area.

Intercepts of 1.0 m grading 0.03% U3O8 in hematitic pelitic breccia from 44.1 to 45.1 m and 0.04% U3O8 over 0.3 m in graphitic pelite from 139.9 to 140.2 m in Hole DD-08 were intersected approximately 1,200 m north of the DD Zone. Hole DD-07, drilled 700 m north of the DD Zone along the C1 conductor also intersected 0.02% U3O8 over 0.4 m in strongly sheared and clay altered graphitic pelite from 178.6 to 179 m adjacent to Archean granite. Hole DD-08 was drilled to test a weaker conductor in the hangingwall of the C1 conductor. The C1 conductor at this location is over 100 m in width adjacent to Archean granite and could not be reached from the drill setup last fall. With the encouraging uranium mineralization encountered in the hangingwall conductor in Hole DD-08, this target will be drilled later in the winter drill program. The location of these drillholes can be viewed on the Company website at www.forumuranium.com/i/maps/uranium/Drilling-DD-Area.jpg

News released on December 13, 2006 reported results of 1.5 m grading 0.05% U3O8, including 0.25 m grading 0.18% U3O8 in the hangingwall of the C1 conductor at the DD zone. The Company is highly encouraged by the occurrence of uranium in strongly sheared and altered graphitic rocks along the C1 conductor that extend 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.

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 fluorimetric 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

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

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