Vancouver, B.C. February 27, 2009. Forum Uranium Corp. (FDC: TSX.V) is pleased to announce that it has entered into an Option Agreement on its 100% owned Henday project in the Athabasca Basin, Saskatchewan with Hathor Exploration Limited ("Hathor"). Hathor can earn up to a 60% interest in stages by spending $3.5 million in exploration over three years and making a payment of 150,000 shares upon TSX approval. Hathor's first year commitment is to complete a $500,000 ground electromagnetic and gravity survey program to commence immediately. A further 10% interest in the property can be earned by completing a feasibility study.

The Henday property is located along the northeast trend of deposits that hosts over 50 million pounds of uranium at the AREVA/Denison Midwest Lake mine development project and the emerging Roughrider deposit currently being drilled by Hathor. Forum completed a drill program last winter that was successful in identifying a strong illitic alteration halo with associated tectonization, quartz dissolution and anomalous uranium, boron, and base metal geochemistry at Mallen Lake. These features are indicative that uranium ore forming fluids have been at work on the Henday property. This area is located only 2 km north of AREVA's Mallen Lake showing where drill intercepts of 5.9% U3O8 over 0.3 m have been reported in basement rocks from previous drilling.

Ken Wheatley, P.Geo. (Saskatchewan, NWT/Nunavut), Forum's Vice President, Exploration is the Qualified Person that has reviewed the contents of this news release.

Terms of the Agreement

1. Hathor to issue 150,000 common shares to Forum upon TSX Exchange approval, subject to a four month hold period.

2. Hathor funds a $500,000 exploration program in the first year to earn a 20% interest in Henday.

3. Hathor funds a $1,500,000 exploration program in the second year to earn a further 20% interest in Henday (total 40% interest).

4. Hathor funds a $1,500,000 exploration program in the third year to earn a further 20% interest in Henday (total 60% interest).

5. Hathor completes a feasibility study to earn a further 10% interest (total 70% interest).

6. Forum will be Operator of the exploration programs up until Hathor earns its 60% interest.

About Forum Uranium

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.