$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:
Manager of Corporate Communications
FORUM URANIUM CORP.
910-475 Howe Street
Vancouver, BC V6C 2B3
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