Forum Uranium Corp.: Drilling Confirms High Grade Intersections in the Maurice Bay Deposit and Extends Otis West Zone

Forum Uranium Corp. (TSX VENTURE:FDC) announces it has completed its 2014 winter
drill program at the Northwest Athabasca JV project (NWA JV). A total of 2,911
metres (m) in 13 holes on 5 separate targets were completed. Drilling has
confirmed historic high grade mineralization drilled by previous operators at
the Maurice Bay deposit(i) by intersecting "off-scale" radioactivity. 


Three of the five exploration targets: Otis West, Zone A and Maurice Bay East
returned positive results. Drilling at Otis West has extended the mineralized
strike length to 70m from 50m and remains open to the east. These latest results
from the NWA JV project will be reviewed with Forum's joint venture partners
with the intent of planning a follow-up drill program. 


Maurice Bay Deposit & Basement Targets

Two holes (see Figure 1) were drilled to test for possible deep mineralization
within the basement rock beneath the historic mineralization at the Maurice Bay
deposit, with one of the holes transecting the historic mineralization. Hole
NWA-72 returned 1.4m of "off-scale" radioactivity in a mineralized zone totaling
5m within Athabasca sandstone in the Main Zone of the Maurice Bay Deposit.
Radioactivity also extended 4.5m down into the basement for a total zone of 9.5m
of mineralization, but no additional mineralization was identified at depth.


Otis West 

Three drill holes completed at Otis West have extended the mineralized strike
length to 70m from 50m. Mineralization, which is hosted in the basement rocks,
remains open to the east. 




--  Hole NWA-73 returned approximately 30m of anomalous values from 143 to
    175m with a peak of 1,400cps in a section of heavy core loss. The down-
    hole probe further identified radioactivity measurements of up to
    11,500cps in a radioactive zone over 1.5m, which suggests that final
    assays may not be representative due to the extensive core loss.
    Targeted drilling near Hole NWA-73 will be required to thoroughly test
    this area for mineralization. 
--  Hole NWA-74 returned approximately 70m of anomalous values from 150 to
    220m with a peak of 4,500cps, also in an area of heavy core loss.  
--  Hole NWA-75 tested the interpreted down-dip extension of NWA-74 and also
    intersected the fault zone but with only weakly elevated radiometrics
    over a 70m interval from 150m to 220m. 



Further drilling will be required to test the Otis West target, which extends
for 400m as a strong gravity low, along the Otis fault which runs parallel to
the Maurice Bay fault.


Zone A

Three holes were drilled in the Zone A area, testing the interpreted south and
north strike extensions of uranium mineralization grading 1.34% U3O8 over 3m at
a depth of 90m encountered in 2013. Hole NWA-77, located 15m to the north
intersected elevated radiometrics in three separate sections in the overlying
sandstone including immediately above the unconformity at 70.6m depth. A
brecciated quartz-rich zone in basement rocks returned up to 1,600cps at 78.6m
and 600cps at 82.5m. Zone A remains of interest, as nearby historic drilling in
the basement returned grades of up to 6m of 5.65% U3O8 at a greater depth
beginning at 115m. 


Maurice Bay East

One hole, NWA-79, was drilled in the Maurice Bay East gravity target. It
returned large sections of chloritized and quartz dissolved sandstones from 52m
down to the unconformity at 138m with weakly elevated radiometrics at 104 to
117m with a peak of 250cps at 113.5m and in the basement lithologies at 159.5 to
162m (200cps). Further evaluation of this area is warranted to identify
follow-up drill targets.


Otis East

Three holes were drilled on the Otis East gravity target. These holes returned
strongly altered sandstones and basement lithologies and brecciation, but no
significant uranium mineralization was intersected.


Quality Assurance/Quality Control

The reader is cautioned that natural gamma radiation in drill core as reported
in this news release and measured in counts per second (cps) using a total count
gamma-ray scintillometer are not directly or uniformly related to uranium grades
of the rock sample measured, and should be used only as a preliminary indication
of the presence of radioactive materials. Core samples have been sent to the
Saskatchewan Research Council for assaying and results are expected in June. The
technical information in this news release has been prepared in accordance with
the Canadian regulatory requirements set out in NI 43-101 and reviewed by Ken
Wheatley, P. Geo. (Saskatchewan and Nunavut), Vice President, Exploration for
Forum Uranium Corp., a Qualified Person under NI 43-101


Maurice Bay Deposit(i)

A 1.5 million pound historical uranium resource (600 tonnes grading 0.6% U3O8)
for the Maurice Bay deposit, is reported by Saskatchewan Industry and Resources,
Miscellaneous Report 2003-7. The Maurice Bay historical resource estimate was
completed prior to the implementation of National Instrument 43-101. Given the
extensive exploration work completed by experienced mineral resource companies,
and the quality of the historical work completed, the Company believes the
historical estimate to be relevant and reliable. However, a qualified person has
not completed sufficient work to verify and classify the historical estimate as
a current mineral resource, and the Company is not treating the historical
estimate as a current mineral resource. Hence, the estimate should not be relied
upon. It should be noted that mineral resources, which are not mineral reserves,
do not have demonstrated economic viability. 


Northwest Athabasca Joint Venture Project

The NWA JV project is a joint venture held 64% jointly by Forum and NexGen
Energy Ltd. Forum is Operator of the joint venture with 23.5% partner Cameco
Corporation and 12.5% partner AREVA Resources Canada Inc. Forum and AREVA only
participated in this winter drill program and the joint venture is subject to
dilution provisions. 


To view Figure 1 please click on the following link:
http://media3.marketwire.com/docs/FDC0430.pdf 


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. 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 in the
Athabasca Basin, Saskatchewan and the Thelon Basin, Nunavut 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 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.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Forum Uranium Corp.
Rick Mazur
President & CEO
604-638-3943


Forum Uranium Corp.
Matt Terriss
Director, Corporate Affairs
604-638-3947
[e-mail]
www.forumuranium.com


CHF Investor Relations
Robin Cook
Senior Account Manager
416-868-1079 x 228
[e-mail]