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Forum Releases Assay Results From Ongoing Key Lake Drill Program

Monday April 2, 9:00 am ET

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - April 2, 2007) - Forum Uranium Corp. (TSX VENTURE:FDC - News) is pleased to announce results from thirteen drill holes comprising 1,822 metres (m) of drilling at the Hobo zone on the Key Lake Road project, where the Company is focused on shallow, unconformity-style basement deposits nearby the Cameco/AREVA Key Lake uranium processing facility in the Athabasca Basin, northern Saskatchewan.
Forum is highly encouraged by its first pass drill program and the intersection of near surface uranium mineralization in altered, graphitic rocks on the Hobo Zone. Two fences of holes approximately 300 m apart, comprising six holes were drilled on the Hobo mineralized zone discovered last summer. Multiple breccia zones of uranium mineralization were intersected in two holes at depths from 10 m to 40 m over thicknesses from 0.4 to 1.2 m as follows:

 
 Drill Hole     From (m)   To (m)  Thickness(i) (m)  U3O8(%)  U3O8 (lbs/ton) 
  
 H-06              40.1     41.3               1.2     0.07             1.4 
 (including)       40.9     41.1               0.2     0.13             2.6 
 H-08             10.65    11.25               0.6     0.07             1.4 
 H-08             18.65    19.05               0.4     0.13             2.6 
 (including)      18.85    19.05               0.2     0.20             4.0 
 (i) Apparent thickness as not enough holes have been drilled to determine 
     orientation or true thickness.

A limited area of the Hobo zone has been drill tested and the potential for larger accumulations of breccia style uranium mineralization is excellent. A detailed structural mapping study is planned this summer in advance of follow-up drilling of these first phase, wide-spaced drill holes. The Hobo zone is located 200 m west of and in the hanging wall of a strong electromagnetic conductor.

The Hobo Zone electromagnetic conductor is found in Wollaston metasedimentary rocks in an 8 kilometre (km) by 2.5 km ellipsoidal structure within Archean granite and is associated with strong uranium anomalies in lake sediments. This electromagnetic conductor was drilled in seven holes at 400 to 800 m spacings. Strongly tectonized graphitic pelite with strong hydrothermal clay alteration was intersected in each drill hole, indicating the presence of a strong shear zone within which uranium mineralizing fluids have travelled. A plan map of the drill holes can be viewed at: http://forumuranium.com/i/maps/Hobo_map.jpg.

5,786 m, comprising 39 holes have been completed on DD, Rainbow, Orchid Lake and Hobo Zones. The drill has been relocated to the DD Zone for four holes of follow-up drilling. Upon completion, the drill will be moved to test the Millison Lake showing. There will be approximately 1,500 m, comprising 10 holes drilled on Millison. Drilling will continue until the end of April, weather permitting.

Quality Assurance/Quality Control

Samples were shipped by the Company's geologist in security sealed containers to Loring Laboratories Ltd. in Calgary, Alberta. Rock samples are crushed to minus 10 mesh, split to a 250 gram sample and pulverized to 90% passing 150 mesh. Samples are analyzed by 30 element ICP analysis which report as ppm uranium and uranium content is converted to %U3O8 content. ICP results over 1000 ppm uranium are check assayed by fluorimetric analysis. A result of 0.1% U3O8 is equivalent to 2 pounds of U3O8 per short ton. All holes were logged with a downhole radiometric probe. Dr. Boen Tan, P. Geo. (Saskatchewan), Forum's Chief Geologist and Qualified Person supervised the Hobo drill program and interpretation.

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 160,000 hectares of uranium exploration properties, a 65% operating interest in the Costigan Lake Joint Venture with partner NVI Mining (Breakwater Resources) and a 50% operating interest in the Haultain River Joint Venture with partner Hathor Exploration in the prolific Athabasca Basin, Saskatchewan. Forum also has a 50% operating interest in the North Thelon Joint Venture ("NTJV") with partner Superior Diamonds in over 100,000 hectares of prospective ground nearby AREVA's 130 million pound U3O8 Kiggavik uranium deposit in the Thelon Basin, Nunavut Territory. The NTJV has recently optioned property in the Kiggavik area from Tanqueray Resources Ltd.

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