Forum Uranium Corp.: High Grade Assay Results and Continuing

Forum Uranium Corp.: High Grade Assay Results and Continuing Success
on the Northwest Athabasca Property, Saskatchewan 
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 11/26/12 -- Forum
Uranium Corp. (TSX VENTURE:FDC) and Mega Uranium Ltd. (MGA: TSX) are
pleased to announce assay results from the first drill target at the
NW Athabasca property under option from Cameco Corporation. Uranium
mineralization was encountered at shallow depths in two holes drilled
on Zone 2A (see news release dated November 8, 2012). 
Drillhole NWA-35 - 2.48% U3O8 over 1.5 metres at a vertical depth of
26 metres with a 0.5 metre interval grading 5.77% U3O8.   
Drillhole NWA-34 - 20 centimetres grading 0.27% U3O8 at a vertical
depth of 50 metres, located only 20 metres west of the historic Zone
2A mineralization.  
Further drilling is recommended in the Zone 2A area where additional
targets have been delineated including an EM conductor 40 metres to
the west, along strike from the known mineralization at Zone 2A.  
The drill rig is currently investigating the Barney target, a gravity
low west, and on strike from, the Maurice Bay deposit. Uranium
mineralization within zones of strong basement alteration has been
intercepted in several holes. This is the third target that has
encountered uranium mineralization on the property. A full
description of the results will be released upon completion of
drilling at the Barney zone.  
The NW Athabasca property hosts the Maurice Bay deposit (historical
resource(i) of 1.5 million pounds uranium at a grade of 0.6% U3O8). A
winter drill program is planned for the first quarter 2013. All
targets are similar to Cameco's Millennium deposit and Rio Tinto's
Roughrider deposit at much shallower depths (less than 100 metres).  
(i)Historical resource for the Maurice Bay deposit, as reported by
Saskatchewan Industry and Resources, Miscellaneous Report 2003-7, has
not been calculated or classified under the specifications of
National Instrument 43-101 and should not be relied upon. 
Quality Assurance and Quality Control  
Core samples are collected and shipped in sealed containers to the
Saskatchewan Research Council, an ISO/IEC 17025:2005 (CAN-P-4E)
certified laboratory for geochemical analysis using the Uranium ICP
Package. This package is the prefer
red analytical technique for
detecting uranium and pathfinder elements in the alteration halos of
unconformity-type uranium deposits in the Athabasca Basin. 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. 
Forum and Mega Option with Cameco 
The NW Athabasca project is 87.5% owned by Cameco and 12.5% owned by
AREVA. Forum and Mega have formed a 50/50 joint venture, with Forum
as Operator, to earn a 60% interest from Cameco on the NW Athabasca
project by completing $4 million in exploration over four years and
making cash payments of $400,000 over three years of which $140,000
has been paid. It is anticipated that Forum and Mega will vest their
joint 60% interest in the property upon completion of the current
About Forum Uranium 
Forum Uranium Corp. is a Canadian-based energy company with a focus
on the acquisition, exploration and development of Canadian uranium
and rare earth projects. 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 in
the Athabasca Basin, Saskatchewan and the Thelon Basin, Nunavut by
exploring on its 100% owned properties and through strategic
partnerships and joint ventures. The Company is also evaluating North
American rare earth prospects in Quebec and Nunavut.  
To view Figure 1: NW Athabasca Project Gravity Survey, please visit
the following link:  
Richard J. Mazur, P.Geo., President & CEO 
Neither the 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. 
Forum Uranium Corp.
Rick Mazur
President & CEO
Forum Uranium Corp.
Matt Terriss
Director, Corporate Affairs
CHF Investor Relations
Robin Cook
Senior Account Manager
416-868-1079 x 228
Press spacebar to pause and continue. Press esc to stop.