Vancouver, B.C., July 23 2009. Forum Uranium Corp (FDC: TSX-V) is pleased to announce a best efforts private placement with Canaccord Capital Corporation to raise up to $250,000 through the issuance of flow through common shares at a price of $0.10 per share. Finders' fees will be payable in connection with 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.