| ||Thu Dec 10, 2009|
Forum Arranges $720,000 Private Placement
| ||Vancouver, B.C., December, 10, 2009. Forum Uranium Corp (FDC: TSX-V) is pleased to announce a non-brokered private placement of $720,000 through the issuance of flow through common shares at a price of $0.12 per share. Finders' fees will be payable on a portion of the private placement in accordance with the policies of the TSX Venture Exchange. The private placement is subject to regulatory approval. |
Proceeds from this financing will be used for drilling at the Company's Key Lake Road Project in the Athabasca Basin, Saskatchewan, located 30 kilometres south of the Cameco/AREVA Key Lake mine/mill complex in the Athabasca Basin, Saskatchewan. Forum has identified a number of high priority drill targets with potential for basement-hosted uranium mineralization similar to Hathor's Roughrider discovery and Cameco's 56.5 million pound Millennium uranium deposit (Source; Indicated and Inferred Resource- Cameco 2008 Annual Financial Review).
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 in the Athabasca Basin, Saskatchewan and the Thelon Basin, Nunavut. 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
Richard J. Mazur, P.Geo.
President & CEO
Neither 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:
President & CEO
FORUM URANIUM CORP.
910-475 Howe Street
Vancouver, BC V6C 2B3
You can view the Next News Releases item: Tue Dec 15, 2009, Forum To Drill Up To 15 Holes On The Key Lake Road Project, Athabasca Basin
You can view the Previous News Releases item: Tue Dec 1, 2009, Forum And Hathor Prepare For $1.65 Million Drill Program On The Henday Project, Athabasca Basin
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