Forum Uranium Corp. and NexGen Energy Ltd. announced assay results from its new discovery on the Northwest Athabasca property which is under option from Cameco Corporation. Uranium mineralization was encountered over significant widths in four holes within a strong alteration zone delineated in the basement rocks at shallow depths drilled on the Barney gravity target.

The alteration zone remains open to the north, west and south. These indications of a robust uranium mineralized system are very encouraging at this early stage in the program. Plans are to immediately follow-up this discovery in the next drilling campaign planned for February and March.

Assay results have been received for the mineralized zones intercepted in four holes NWA-42, 44, 45 and 49, all from the Barney gravity target. To date, uranium mineralization has been intersected at the historical Zone 2A (2.48% U3O8 over 1.5 metres) and on two gravity targets (Opie and Barney) out of five targets investigated. Gravity surveys have been shown to work very well on this project by indicating the probable presence of an alteration envelope.

There still remain 12 untested targets to investigate, with one of the targets immediately south of the Maurice Bay deposit (Otis) requiring further work. Core samples are collected and shipped in sealed containers to the Saskatchewan Research Council, an ISO/IEC 17025:2005 (CAN-P-4E) certified laboratory for geochemical analysis using the Uranium ICP Package. This package is the preferred analytical technique for detecting uranium and pathfinder elements in the alteration halos of unconformity-type uranium deposits in the Athabasca Basin.

Ken Wheatley, P.Geo. (Saskatchewan, NWT/Nunavut), Forum's Vice President, Exploration is the Qualified Person that has reviewed and approved the contents of this release.