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Commences Exploration On Key Lake Road Project

On July 04 2007




	NEWS Wednesday, July 04, 2007 Forum Commences Exploration On Key Lake Road Project Vancouver, BC. July 4, 2007. Forum Uranium Corp. (FDC: TSX-V) is pleased to announce commencement of its summer exploration program on the Key Lake Road project located along Provincial Highway 914 approximately 60 kilometres (km) from the Cameco/AREVA Key Lake uranium processing facility in the eastern Athabasca Basin, northern Saskatchewan. Particular emphasis this summer will be placed on detailed structural mapping and prospecting of the Hobo and Molly zones where uranium mineralization grading up to 5.3% has been encountered. Forum has a 100% interest in over 80 km of favourable ground along the Wollaston Trend, host to approximately one-third of the world's uranium production. Helicopter--supported drilling of the Molly zone is planned this fall to test an eight km long trend of uranium mineralization along the Key Lake Road shear zone. A complex suite of pegmatites, graphitic metasediments and calc-silicates within the Wollaston group are strongly mineralized adjacent to airborne electromagnetic conductors. Ground electromagnetic surveys will be conducted this summer to pinpoint drill targets at Molly for the fall drill campaign. A total of 6 to 8 short drillholes are planned, as all uranium targets are near-surface. Follow-up drilling is also planned this fall on the DD zone and this winter on the Hobo zone. Forum has commenced a major lake sediment geochemical survey over the 111,564 hectare property. Lake sediment geochemistry has proven to be an effective exploration tool as demonstrated by the discovery of the Hobo zone from follow-up of anomalous lake sediment samples late in the field season last summer. This summer's program is supported by a float-equipped Bell 206 helicopter that will sample lakes at a high sample density of approximately one sample per 1.5 km. Coupled with the previous geological and geophysical data, this survey is expected to delineate further areas of uranium potential on this large, well located property close to roads and uranium processing. Quality Assurance/Quality Control Samples will be shipped by the Company's geologist in security sealed containers to Geoanalytical Laboratories of the Saskatchewan Research Council ("SRC") in Saskatoon, Saskatchewan. The SRC lab is ISO/IEC 17025:2005 (CAN-P-4E) certified for the General Requirements for the Competence of Mineral Testing and Calibration. The samples will be treated by both partial and total digestion. ICP-OES analyses will be done for both totally digested and partially digested samples while flourimetry uranium analysis will be performed for the partially digested samples only. In addition, the L.O.I (loss on ignition) will be done for determination of the carbon content of the sediment samples. Ken Wheatley, P.Geo. (Saskatchewan) Forum's Vice President, Exploration and Dr. Boen Tan, P. Geo. (Saskatchewan), Forum's Chief Geologist are the Qualified Persons supervising the exploration program and have reviewed the contents of this news release. 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. ON BEHALF OF THE BOARD Richard J. Mazur, P.Geo. President & CEO The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release. For further information contact: Timea Carlsen Manager of Corporate Communications FORUM URANIUM CORP. 910-475 Howe Street Vancouver, BC V6C 2B3 Tel: 604-638-3949 Fax: 604-689-3609 Email: info@forumuranium.com Website: www.forumuranium.com