Vancouver, British Columbia--(Newsfile Corp. - November 28, 2017) - Forum Uranium Corp. (TSXV: FDC) ("Forum" or the
"Company") is pleased to provide an update of the Company's staking activities in Saskatchewan in 2017. Forum has added to
an already extensive portfolio of near surface uranium exploration projects in Canada's Athabasca Basin, which hosts the
highest-grade uranium deposits in the world. Recent staking of new ground along the prolific Wollaston Belt south of Cameco's Cigar
Lake deposit, in addition to strategic ground near Key Lake, enhances Forum's land position in the eastern Athabasca Basin. One
additional claim has been staked in the Patterson Lake area north of NexGen's Arrow and Fission's Triple R discoveries (see Figure
1).
STAKING ACTIVITES IN NEW AREAS OF THE ATHABASCA BASIN
Two new claim groups, the Waterbury and Waterbury South properties totaling 10,684 ha were staked south of Cigar Lake. These
claims lie within the band of graphite-rich basement rocks (the Wollaston Belt) that host the uranium deposits of the eastern
Athabasca Basin. The sandstones in this area vary from 100 to 350 metres deep. The Hook claim, totaling 1,121 ha, was staked north
of the Patterson Lake Trend.
KEY LAKE ROAD AREA
Forum has added ground to its already exceptional position along the Key Lake Road south of Cameco's Key Lake processing
facility. A total of 5,922 ha were picked up adjacent to the Costco claims, which covers areas where the EM conductors continue
beyond the existing property boundary and where several gravity lows with associated conductors are found. An additional 2,230 ha
were acquired around the Highrock claims covering coincident magnetic lows over a significant electromagnetic conductor extending
beyond Forum's original claim boundary.
Rick Mazur, President & CEO stated, "The weak uranium market has presented a tremendous low-cost opportunity to capitalize on
the Company's highly regarded exploration property portfolio by adding and enhancing its presence through new staking in the Basin.
The past year has also seen the Company position itself for a turnaround in uranium markets by advancing exploration on its
properties. Forum will continue to evaluate opportunities to add long-term shareholder value and enhance its position in the
world's premier uranium district."
Uranium Market Update
Cameco recently announced the suspension of mining activities at its McArthur River mine and other operations for a minimum of
10 months. This decision is expected to remove approximately 16-18 million pounds of U3O8 from the market.
The spot uranium price has increased approximately 15 % since this announcement. Forum believes that continued supply discipline is
necessary for the uranium market to rebalance, which should lead to the higher pricing needed by uranium companies for a
sustainable operating industry.
Figure 1 Location Map of Forum Projects in the Athabasca Basin, Saskatchewan
To view an enhanced version of Figure 1, please visit:
http://orders.newsfilecorp.com/files/4908/30819_a1511819617843_93.jpg
Richard Mazur, P.Geo., Forum's President and CEO is the Qualified Person that has reviewed and approved 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. 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 by exploring on its 100% owned properties and through strategic partnerships and joint
ventures with Cameco, AREVA, Rio Tinto Canada Uranium, NexGen and Uracan.
ON BEHALF OF THE BOARD OF DIRECTORS
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.
For
further information contact:
Rick Mazur, President & CEO
Tel: 604-630-1585
Craig Christy, VP, Corporate Development
Tel: 250-863-0561
