The following is an excerpt from the Hard Rock Analyst HRA - Special Delivery report; vol 355; titled "Continuity" and published on Monday March 1st, 2009.

"Forum Uranium (FDC-V; up $0.045 on 2.47MM shares at $0.08) announced it has agreed to option its Henday project to our favourite uranium explorer, Hathor Exploration (HAT-T; up $0.14 on 269k shares at $3.00). Hathor can earn a 60% by spending $3.5 million over three years and issuing 150,000 HAT shares to Forum upon exchange approval of the agreement. Hathor can move to 70% by taking the project to full feasibility. FDC will be operator until the 60% earn-in is complete. Hathor's year one commitment is $500,000. This is a good deal for both parties.

We've said before that Forum has one of the best uranium exploration portfolios around but it's always been market challenged, which made financing difficult and dilutive. Hathor recognized the value of Forum's technical team and the potential of the Henday project. Hathor's own huge success generated some immediate excitement. The fact that 2.5 million shares of trading only brought FDC up to eight cents shows there is work to do on the market side. The next phase of exploration may be mainly geophysics; its unknown at this point if Henday will see a drill this year. It is 15 km from the Roughrider discovery, so it is logistically possible if HAT choose to speed up the earn-in. Previous work by Forum has discovered a large alteration halo that requires further target definition and drilling. FDC has a number of other strong targets in both the Athabasca and Thelon basins and the odds are good that it can secure more agreements and/or finance independently if some of Hathor's patina rubs off on it. Note that we consider this a smart move for Hathor too, indicating it does not plan to sit on its laurels. Even when you have a discovery as impressive as Roughrider, the market always wants to know what you might do for an encore.
Accumulate/Average down in this range if you have a longer time horizon.
www.forumuranium.com "

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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.