Forum Uranium Corp.: Rio Tinto Exercises Option to Earn Additional 10% Interest From Forum on Henday Project, Athabasca Basin, Saskatchewan
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 06/19/12 -- Forum Uranium Corp. (TSX VENTURE: FDC) is pleased to announce that Rio Tinto Canada Uranium Corporation ("Rio Tinto") has exercised its option to acquire an additional 10% interest in the Henday project, Athabasca Basin, Saskatchewan. Under the terms of the Property Option Agreement with Hathor Exploration Ltd. ("Hathor"), Rio Tinto must fund a bankable feasibility study to earn its additional 10% interest. Rio Tinto is the 60% owner and Operator of the Henday joint venture with Forum as its 40% partner. Hathor was acquired by the Rio Tinto group and amalgamated into Rio Tinto.
Drilling of 13 holes on the Mallen Zone in 2011 resulted in elevated radioactivity and favourable alteration within a 500 metre by 600 metre resistivity anomaly. Depth to the unconformity in the area is approximately 110 metres.
About Forum Uranium
Forum Uranium Corp. is a Canadian-based energy company with a focus on the acquisition, exploration and development of Canadian uranium and rare earth 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. The Company is also evaluating North American rare earth prospects.
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.
Contacts:
Forum Uranium Corp.
Rick Mazur
President & CEO
604-630-1585
604-689-3609 (FAX)
Forum Uranium Corp.
Matt Terriss
Director, Corporate Affairs
604-638-3947
info@forumuranium.com
www.forumuranium.com
