Forum Announces $800,000 Private Placement

Vancouver, B.C. November 1, 2007. Forum Uranium Corp. (FDC: TSX-V) is pleased to announce an $800,000 non-brokered private placement financing. The financing will be completed through the issuance of up to 1,777,777 units at a price of $0.45 per unit. Each unit will entitle the holder to purchase one additional common share at a price of $0.65 exercisable within two years of the date of closing. This financing is subject to TSX approval.

Proceeds from this financing will be used for exploration work on the Company's Athabasca Basin and Thelon Basin uranium projects.

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 190,000 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 ("NTJV") 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. The NTJV has recently optioned property in the Kiggavik area from Tanqueray Resources Ltd.

ON BEHALF OF THE BOARD

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

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

For further information contact:

Timea Carlsen
Manager of Corporate Communications
FORUM URANIUM CORP.
910-475 Howe Street
Vancouver, BC V6C 2B3
Tel: 604-638-3949
Fax: 604-689-3609
Email: info@forumuranium.com
Website: www.forumuranium.com