Forum Uranium Corp.

Forum Uranium Corp.

March 22, 2007 09:00 ET

Forum Uranium Provides Exploration Update

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - March 22, 2007) - Forum Uranium Corp. (TSX VENTURE:FDC) is pleased to provide an update of its exploration activities on its uranium projects in the Athabasca Basin, Saskatchewan and the Thelon Basin, Nunavut.

Key Lake Road Drill Program (100% Forum)

In September 2006, the Company embarked on a 7,000 metre (m) drill program, comprising over 40 to 50 shallow, widely spaced drill holes for the 2006/2007 fall/winter drill season. The first pass of drilling on these targets is on an average spacing of 400 metres apart. To date, 34 drill holes on four targets have been completed for a total of 5,113 m on the following prospects:

- DD 10 holes (1,724m)

- Rainbow 4 holes (536m)

- Orchid Lake 9 holes (1,177m - Global Uranium earning 60%)

- Hobo 12 holes (1,676m)

Uranium mineralization grading from 0.15% to 0.19% U3O8 was intersected over narrow widths along strong shear structures within altered basement rocks at the DD and Orchid Lake zones. Uranium mineralization of these grades at such an early stage in the drill program is highly encouraging. The Company looks forward to its second phase of drilling on these favorable target areas with much tighter drill spacing.

The drill is completing its thirteenth drill hole on the Hobo zone, where uranium mineralization grading from 0.15% to 1.82% U3O8 was encountered in surface outcrop and along an associated strong electromagnetic conductor that was identified by an airborne AeroTem survey in the fall of 2006. Results from the Hobo zone are expected within the next two weeks.

Forum will continue drilling until the end of April (weather permitting). The drill is currently being moved to the DD zone to conduct four follow-up holes on uranium mineralization encountered during a fall drill campaign. Once completed, the drill will move further north to the Millison Lake area where 10 holes are planned in a strongly silicified zone of uranium mineralization in a broad area of elevated lake sediment geochemistry.

Maurice Point Program (100% Forum)

Gravity crews have completed over 58 line km of surveys around the Maurice Point zones. The surveys have been conducted to identify altered rocks associated with the strong northeast trending mylonite zone on the property that is the controlling feature for uranium mineralization in the Maurice Bay and Beach Zone areas. An airborne VTEM magnetic/electromagnetic survey flown in the fall of 2006 over the Beach Zone area provided greater definition of cross structures. The property is now ready for drill testing at the Beach Zone and the Maurice Point area, along strike from Cameco's Maurice Bay deposit which is planned for drilling by Cameco in the coming weeks. The Maurice Bay deposit hosts uranium mineralization in Athabasca sandstone, at the unconformity and within basement rocks.

North Thelon Joint Venture (50% Forum, 50% Superior)

The North Thelon Joint Venture ("NTJV"), a 50/50 partnership with Superior Diamonds Inc., (Forum as operator), has been making preparations for a $1.0 million exploration program this summer at its Kiggavik North and South claims immediately adjacent to AREVA Resources Canada Inc. Kiggavik-Sissons 131 million pound uranium project(i). Taiga Consultants Ltd., Calgary, Alberta, will conduct Forum's initial exploration program in Nunavut. All requisite permits have been submitted to the regulatory authorities and all logistics for a helicopter supported exploration program are in process. With the recent announcement of the option to earn a 60% interest from Tanqueray Resources Ltd in ground immediately east of the NTJV's, operations will be conducted out of Tanqueray's fully permitted camp under a rental agreement. Plans for an airborne geophysical survey and detailed evaluation of the geological, geophysical and geochemical database of NTJV's 100% owned ground and the Tanqueray claims are underway.

Richard Mazur, P.Geo., President & CEO and Dr. Boen Tan, P.Geo. (Saskatchewan), Chief Geologist are the Qualified Persons under National Instrument 43-101 that have reviewed the contents of this news release.

(i)This resource estimate is historic and Forum has not verified whether it is a National Instrument 43-101 defined resource. Forum believes that the historic estimate is relevant because of the proximity of the Kiggavik-Sissons Project to the NTJV's project area and the presence within the area of uranium occurrences in similar host rocks. AREVA is currently evaluating the future development of the Kiggavik-Sissons 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

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

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