Hole 116: 2.5 Metres Grading 70.34% U3O8 / #10-200: 22.5 Metres Grading 11.3% U3O8 / #30: 69 metres grading 2.33% U3O8 / #10-188B: 7.5 metres grading 29.98% U3O8
ATHABASCA BASIN: WHERE GRADE IS KING!
Message: Hathor/Forum
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Vancouver, B.C. May 27, 2009. Forum Uranium Corp. (
FDC:
TSX-V) and Hathor Exploration (HAT:
TSX-V) are pleased to announce that high priority drill targets have been identified as a result of ground electromagnetic (EM) and gravity surveys completed on the Henday Lake project, northern Saskatchewan. The Henday property has exceptional potential for a shallow, high grade uranium deposit and is located along the north-east trend hosting the AREVA/Denison Midwest Lake deposit (41 million lbs. U
3O8
at an average grade of 5.5%) and Hathor’s Roughrider Zone. The sandstone
thickness on this project averages only 160 metres, making such a target amenable to low cost, open pit mining operations.
Figure 1:
Henday Lake Location Map. (Elliptical area shown in more detail as Figure 2) –
CLICK
HERE TO VIEW: The 2008 geophysical program identified an important east-northeast trending conductive structure and drilling identified an illitic alteration zone with associated elevated geochemistry in the Mallen Lake area. Ground EM and gravity surveys were conducted this past winter over three high priority areas. A detailed ground EM survey was carried out to help interpret the complex conductive trend, and a gravity survey was utilized to detect areas of low density, typically areas of clay-rich alteration that may be caused by hydrothermal alteration associated with uranium mineralization. A total of 15 conductor segments totaling 8.4 km in length have been identified, as have a number of gravity lows. Forum has used these surveys extensively on its Key Lake Road project and Hathor used these methods to help define their Roughrider discovery. Results on Grid G are shown below in Figure 2. The program has developed numerous drill targets within a strongly tectonized conductive system with associated gravity lows. Results from the two other grids are forthcoming. Figure 2: Contoured gravity and EM on Grid G, Henday Lake Project. The reds are gravity highs, the
blues are gravity lows, and the white lines are graphitic conductors. Drill targets are outlined by the red ellipses. The surveys suggest that numerous structures affect the area, giving rise to several target areas. The existing illite anomaly, discovered by drilling at Mallen Lake in 2008, is located in the northeast corner of the survey. CLICK HERE TO VIEW: http://www.forumuranium.com/i/nr/2009-
06-01-henday-mag.gif Forum is pleased with the positive results of the survey, and, as Operator of the Henday project, will recommend a drill campaign slated for January, 2010 or earlier. The combined efforts of the Forum and Hathor exploration teams should take the property to its full potential. Under terms of the option, Hathor must spend $3.5 million in exploration over the next three years to earn a 60% interest in the project. Ken Wheatley, P.Geo. (Saskatchewan, Nunavut), Vice President, Exploration is the Qualified Person that has reviewed the contents of this news release. U U Forum Uranium Corp. is a Canadian-based energy company with a focus on the acquisition, exploration and development of Canadian uranium projects in the Athabasca Basin, Saskatchewan and the Thelon Basin, Nunavut. 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. ON BEHALF OF THE BOARD Richard J. Mazur, P.Geo. President & CEO Neither 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. For further information contact: Rick Mazur President & CEO Tel: 604-630-1585 Or Mark Prosser Corporate Communications FORUM URANIUM CORP. 910-475 Howe Street Vancouver, BC V6C 2B3 Tel: 604-638-3947 Fax: 604-662-8429 Email: U Website: H
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