FORUM URANIUM NEWS RELEASE
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NEWS RELEASE
FORUM MOBILIZES GRAVITY CREWS TO NORTH THELON JV
PROPERTY ADJACENT TO AREVA'S KIGGAVIK URANIUM DEPOSIT, NUNAVUT
Vancouver, B.C. June 18,
2008. Forum Uranium Corp. (FDC: TSX.V) ("Forum"), operator
of the North Thelon Joint Venture ("NTJV") with 50% partner
Northern Superior Resources Inc. (SUP: TSX.V) is pleased to announce the
mobilization of ground gravity crews to the NTJV project. The property is
located along prospective ground for similar style uranium deposits as
AREVA's 148 million pound Kiggavik uranium deposit which is undergoing a full
feasibility study. Gravity surveys are being conducted to follow-up on
targets outlined by a 7,900 line kilometres RESOLVE airborne survey completed
over 100%-owned ground held by the NTJV and ground optioned from Agnico-Eagle
Mines Ltd. (AEM-T) and Tanqueray Resources Ltd.(TQY:TSX.V).
The FUGRO-operated airborne survey covered 1,400
square kilometres of ground with outstanding potential for similar style
uranium deposits to the north, northeast and east of AREVA's three deposits.
This survey delineated the regional and local fault systems of the area, and
the current gravity survey will identify areas of alteration (gravity lows)
that may be associated with uranium mineralization at the intersection of the
faults. This method of exploration has proven successful in the discovery of
two of the Kiggavik deposits that occur along east-northeast and north-northeast
trending lineaments.
Structurally-controlled uranium mineralization
grading up to 1.3% was identified on 10 showings during the 2007 prospecting
and mapping program on the property. This information, in combination with
the Fugro survey and gravity surveys, will be used to develop drill targets.
A 3,000 metre drilling campaign is set to commence in July. The newly
acquired ground from Agnico-Eagle will also be prospected, mapped and
possibly drilled during the 2008 field season.
The Kiggavik Uranium
Deposit
Exploration for uranium
in the northern Thelon Basin was conducted primarily from the mid-1970's to
the mid-1980's culminating in the discovery of the Kiggavik deposits located
80 km west of Baker Lake, Nunavut by Urangesellschaft Canada Ltd. AREVA acquired
the project in 1993. Forum and Northern Superior staked ground adjacent to
AREVA's Kiggavik property in 2006 and optioned the Tanqueray property and the
Agnico-Eagle property in 2007 and 2008 respectively. A uranium development
policy for the Territory of Nunavut was adopted in September, 2007 and
shortly thereafter, AREVA, JCU (Canada) Exploration Company Limited of Japan
and DAEWOO International Corporation of Korea announced the commencement of a
two year feasibility study and the regulatory process to obtain the necessary
approvals for a uranium mine and mill complex on the Kiggavik deposits (See
AREVA News Release dated December 3, 2007). AREVA reports a resource estimate
of 148 million pounds of uranium at an average grade of 0.24% U (0.28% U308).
Ken Wheatley, P.Geo.
(Saskatchewan and Nunavut), Forum's Vice President of Exploration is the
Qualified Person that has reviewed the contents of this news release.
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.
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.
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
Director of Corporate Relations
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
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