Forum Uranium Corp.

Forum Uranium Corp.

November 30, 2006 09:00 ET

Forum Uranium and Superior Diamonds Acquire Additional 34,892 Hectares of Claims in the North Thelon Uranium Joint Venture

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Nov. 30, 2006) - Forum Uranium Corp. (TSX VENTURE:FDC) ("Forum" or "the Company") and Superior Diamonds Inc. ("Superior") are pleased to announce that the North Thelon Joint Venture has acquired an additional 34,892 hectares (ha), expanding the total area in the Joint Venture to 101,562 ha. The North Thelon Joint Venture occurs in the vicinity of the Kiggavik-Sissons Project held by AREVA Resources Canada Inc., which contains the largest uranium resource in Nunavut. The Thelon Basin is largely regarded today as being one of the most prospective regions in the world for uranium exploration and virtually no exploration has been carried out to look for uranium deposits below the Thelon sandstone.

The North Thelon Joint Venture claims are located southwest, north and northeast of the Kiggavik-Sissons uranium deposits. The deposits occur mainly in meta-arkoses and mafic volcanics along a 24 kilometre (km) section of a regional northeast-southwest trending structural zone. A portion of the North Thelon Joint Venture is located within this important structural zone. The claims located north of the Kiggavik-Sissons uranium deposits are mainly underlain by Thelon sandstone within which occur structurally uplifted areas of the same rocks hosting the Kiggavik-Sissons deposits. Evaluation of historical data in government assessment files list several uranium occurrences within the Joint Venture claims.

Thorough compilation of assessment data by Forum and Superior has resulted in several areas of interest, including the Shultz Lake and Boundary occurrences. The Schultz Lake occurrences are located within hematized and brecciated dirty quartzites (same units hosting Kiggavik-Sissons deposits) at two locations 100 metres (m) apart. Assay results of rock samples returned values of 0.10% U308 and 0.11% U308. At the Boundary occurrence, approximately 30 km east-northeast of the Kiggavik-Sissons deposits, a number of anomalous radioactive zones were encountered in fault breccias with values in rock chips of 0.06% U308 and 0.10% U308. Ten km north of the Kiggavik-Sissons deposits, on the southwest boundary of the Joint Venture's northernmost claim block and claims held by Cameco Corporation, a further occurrence of radioactive granite subcrop occurs containing 0.31% U308. The significance of these occurrences will be evaluated by the Joint Venture in the 2007 exploration program.

The Kiggavik-Sissons project contains resources of 131 million pounds U308 grading from 0.28% to 0.44% U as reported by AREVA. This resource estimate is historic and Superior has not verified whether it is a National Instrument 43-101 defined resource. Superior and Forum believe that the historic estimate is relevant because of the proximity of the Kiggavik-Sissons Project to the North Thelon Joint Venture area and the presence within the Joint Venture area of uranium occurrences in the same host rocks. AREVA is currently evaluating the future development of the Kiggavik-Sissons Project.

Superior and Forum plan an aggressive exploration program in the summer of 2007, including airborne geophysics, ground geophysics, prospecting, geological mapping and alteration studies of the Thelon sandstone in preparation for a drilling program.

To view a location map of the Joint Venture claim blocks please visit our website at

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.

The Company's Qualified Person for the North Thelon Joint Venture, as defined under National Instrument 43-101, is Forum's Chief Geologist Dr. Boen Tan, P.Geo. (Saskatchewan).


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

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

Contact Information