Vancouver, British Columbia – Forum Uranium Corp. and Hathor Exploration Ltd. are pleased to announce that they have entered into a joint venture in the Key Lake region which complements both Company’s current exploration initiatives in the area.
In a recent staking program, Forum acquired over 10,148 hectares of prospective ground along a 15 kilometre (km) segment of the Key Lake Road Shear Zone. These claims cover a large area between Forum’s Molly Zone on its 100% owned Key Lake Road project and Hathor’s 100% owned Vedette Lake permit in the Athabasca Basin, Northern Saskatchewan. The joint venture, to be operated by Forum, is focused on shallow basement-hosted unconformity style targets using Cameco’s Millennium and McArthur River deposits as an exploration model.
The Haultain River Joint Venture claims were acquired as a result of the interpreted extension of the Key Lake Road Shear Zone where Forum is currently drilling to the north. Forum discovered surface uranium showings through exploration on its Key Lake Road property over the 2005 and 2006 field seasons, including the Molly Zone with grades up to 5.3%. A compilation of assessment data in the joint venture area shows surface uranium occurrences and past electromagnetic surveys have identified conductive segments that could represent graphitic metasediments within the Wollaston Transition Zone, which host all of the uranium mines and deposits in the Eastern Athabasca Basin. The project area is well located approximately 100km southwest of the Key Lake mine/mill complex of Cameco Corporation and AREVA Resources Canada Inc. and is easily accessed by Saskatchewan Provincial Highway 914 which runs through the centre of the property.
Forum and Hathor have entered into a Joint Venture Agreement whereby both parties have a 50% interest with Forum as the Operator. Hathor is currently conducting an airborne geophysical survey on its Vedette permit area and plans are being made to extend the survey onto the Haultain River Joint Venture property.
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 165,000 hectares of uranium exploration properties and a 65% interest in the Costigan Lake Joint Venture located in the prolific Athabasca Basin, Saskatchewan. Forum also has a 50% interest and is operator in the exploration of over 100,000 hectares of prospective ground nearby AREVA’s Kiggavik uranium deposit in the Thelon Basin, Nunavut Territory.
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
CLARK AVENUE COMPANY INC.
103 Clark Avenue East
Thornhill, ON L3T 1T1