Forum Retains 100% Interest in North Thelon Project
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 06/14/10 -- Forum Uranium Corp. (TSX VENTURE: FDC) and Cash Minerals Ltd. (TSX VENTURE: CHX) announce that their Heads of Agreement on the North Thelon Project has terminated. Forum will retain a 100% interest in this strategically located uranium and rare earth exploration property adjoining AREVA's Kiggavik deposit. Areva is presently conducting a feasibility study, environmental impact assessment and is in the permitting stage of the Kiggavik mine development process.
Rick Mazur, President & CEO stated, 'Forum will focus its summer exploration activities on the Nutaaq rare earth occurrence discovered last year, as well as advance uranium targets nearby the Kiggavik deposit.'
Fifty-five samples of representative rock types from the Nutaaq project area (Inuktitut for 'something new') were collected during the 2009 rare earth exploration program for geochemical and whole rock analysis. Twenty nine samples graded over 0.1% total rare earth oxide (TREO), with a peak of 2.7% TREO. Preliminary petrographic analysis also showed strong alteration patterns and REE ore mineralogy favorable for extraction and processing. Of the 255 samples collected in the Nutaaq area in 2007 & 2008, 155 samples grade from 0.1% to 3.8% total rare earth oxides (TREO).
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 nearby existing infrastructure by exploring on its 100% owned properties and through strategic partnerships and joint ventures.
ON BEHALF OF THE BOARD
Rick 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
Forum Uranium Corp.
Mark Prosser
Corporate Communications
604-638-3947
604-662-8429 (FAX)
mark@forumuranium.com
www.forumuranium.com