Forum Uranium Corp.: Up to 1% U308 Encountered in Drilling on

Forum Uranium Corp.: Up to 1% U308 Encountered in Drilling on the
Northwest Athabasca Property, Saskatchewan 
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 01/09/13 -- Forum
Uranium Corp. (TSX VENTURE:FDC) and NexGen Energy Ltd. are pleased to
announce assay results from its new discovery on the Northwest
Athabasca property which is under option from Cameco Corporation.
Uranium mineralization was encountered over significant widths in
four holes within a strong alteration zone delineated in the basement
rocks at shallow depths drilled on the Barney gravity target. The
alteration zone remains open to the north, west and south. These
indications of a robust uranium mineralized system are very
encouraging at this early stage in the program. Plans are to
immediately follow-up this discovery in the next drilling campaign
planned for February and March. 
As reported in the previous news release dated November 26, 2012
regarding the fall drilling program, uranium mineralization was
intersected in several holes on the Barney gravity target
approximately 1.5 km west of the Maurice Bay deposit(i). Assay
results have been received for the mineralized zones intercepted in
four holes NWA-42, 44, 45 and 49, all from the Barney gravity target
as shown in Table 1. 


 
Table 1:  Significant assay results from the Barney Drill holes             
                                                                            
                       From(ii)         To(ii)     Width(iii)          Grade
Hole Number            (Metres)       (Metres)       (Metres)       (% U3O8)
----------------------------------------------------------------------------
                                                                            
NWA-42                    116.8          123.0            6.2         0.045%
Includes                  121.5          122.0            0.5         0.250%
                                                                            
NWA-44                    130.0          137.0            7.0         0.132%
includes                  132.3          132.5            0.2         1.010%
                          133.7          135.2            1.5         0.271%
                                                                            
NWA-45                
    124.9          126.9            2.9         0.044%
                          130.3          135.9            5.6         0.062%
includes                  134.7          135.9            1.2         0.189%
                                                                            
NWA-49                    128.5          135.5            7.0         0.014%
Includes                  130.9          131.1            0.2         0.248%
                                                                            
(ii) True depths vary from 106 to 119m below surface                        
(iii) Downhole width                                                        

 
This mineralization lies on the northeast side of a gravity low
(Figure 1) within a large alteration zone associated with
hydrothermal hematite, strongly elevated boron and, to a lesser
extent, copper and nickel. The mineralization is trending nearly
east-west and remains open to the west (Figure 2).  
To view Figures 1 and 2, please visit the following link:
http://media3.marketwire.com/docs/fdc0109-figures.pdf. 
To date, uranium mineralization has been intersected at the
historical Zone 2A (2.48% U3O8 over 1.5 metres) and on two gravity
targets (Opie and Barney) out of five targets investigated. Gravity
surveys have been shown to work very well on this project by
indicating the probable presence of an alteration envelope. There
still remain 12 untested targets to investigate, with one of the
targets immediately south of the Maurice Bay deposit (Otis) requiring
further work. 
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 preferred 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 and approved
the contents of this news release. 
Forum and NexGen Option with Cameco 
The NW Athabasca project is 87.5% owned by Cameco and 12.5% owned by
AREVA. Forum and NexGen 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. Forum and NexGen will earn their joint 60% interest in
the property upon completion of further cash payments under the
option agreement. 
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. 
About NexGen Energy 
NexGen is a private British Columbia corporation established by
Tigers Realm Group, an Australian based privately owned resources
group, as a special purpose Canadian uranium exploration company. It
has an option to earn an initial 70% interest in the Radio Project in
the Athabasca Basin, Saskatchewan, Canada, and the option to
subsequently acquire the remaining 30%, in exchange for a combination
of cash and common shares of NexGen. On Decemb
er 18, 2012 NexGen
acquired the uranium exploration projects of Mega Uranium Ltd in the
Athabasca Basin, Saskatchewan and Thelon Basin, Nunavut, Canada.
Senior Management includes Leigh Curyer, CEO, and Andrew Browne, Vice
President - Exploration and Development. 
ON BEHALF OF THE BOARD 
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. 
Contacts:
Forum Uranium Corp.
Rick Mazur
President & CEO
604-630-1585
604-689-3609 (FAX) 
Forum Uranium Corp.
Matt Terriss
Director, Corporate Affairs
604-638-3947
info@forumuranium.com
www.forumuranium.com 
CHF Investor Relations
Robin Cook
Senior Account Manager
416-868-1079 x 228
robin@chfir.com
 
 
Press spacebar to pause and continue. Press esc to stop.