Forum Uranium Corp.

Forum Uranium Corp.

March 23, 2010 09:00 ET

Forum Uranium Corp.: Uranium Zone Intersected at Henday Property; Summer Drilling Planned

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 23, 2010) - Forum Uranium Corp. (TSX VENTURE:FDC) and Hathor Exploration Limited (TSX VENTURE:HAT) have intersected a strong alteration halo in both the sandstone and well down into the basement at the Henday Project, Athabasca Basin, Saskatchewan. Furthermore, intermittent uranium mineralization just below the unconformity has been intersected in several holes. The drill has been left on site and a summer drill program is being planned. It is also significant that the unconformity in the area of this discovery was intersected at a depth of 110 m.

  • Resistivity survey underway to delineate targets
  • Strong alteration halo extends from 80m above the unconformity to as much as 150m below the unconformity
  • Open to the south and west, and at depth

The eight week winter drill program recently completed at Henday totaled 18 holes for 4,061m. The size and strength of the alteration encountered is very positive, and extends over 100m in width and at least 150m in strike, being open to the south and west (Figure 1). The alteration extends at least 150m down into the basement lithologies, similar to Hathor's Roughrider zone and Cameco's 56.5 million pound Millennium deposit. The property is located 10 km northeast of the Hathor and Fission discoveries along the Midwest Mine trend.

Core samples with radioactivity up to 3,200 cps have been sent to the Saskatchewan Research Council for processing and results are expected in 4 to 6 weeks.

Basement-hosted mineralization in the Athabasca Basin, such as the Roughrider zone, may occur as a sheet-like structure of mineralization within a much larger alteration zone. The size and composition of the alteration zone (bleaching followed by hematization – See Photo 1), suggests a similar mineralizing event may have taken place at Henday. The results from a resistivity survey currently underway will be used for planning the orientation of the upcoming drill-holes.

The 2010 winter drill program focused on drilling gravity anomalies along a northeast trending structure where illite clay alteration was detected in the 2008 drill program. The alteration zone and accompanying tectonics and dissolution of the sandstone found in the 2010 drilling is a typical feature around almost all of the deposits in the northeast part of the Athabasca Basin.

Hathor has earned a 20% interest in the Henday property from Forum, and has the option to earn a 60% interest by spending $3.5 million in exploration with an additional 10% earned by electing to take the project to a bankable feasibility study. (For details see the Company's website at

To view Figure 1 please click on the following link:

Figure 1: Henday Project Zone of Interest. Drill-hole locations are red with trace of the hole in black. The alteration in the sandstone and basement are slightly offset, and still open to the south and west. Mineralization is related to the basement alteration.

To view Photo 1 please click on the following link:

Photo 1: Bleaching and secondary hematization with uranium (yellow staining) at 137.5m in the basement.

Natural gamma emission radiation is measured in counts per second (cps) using an Exploranium GR-110 hand-held gamma-ray scintillometer. The reader is cautioned that scintillometer readings are not directly or uniformly related to uranium grades of the rock sample measured, and should be used only as a preliminary indication of the presence of radioactive materials.

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.


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.

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