Forum Uranium Closes $500,000 Non-Brokered Private Placement; Airborne Survey Planned Near Patterson Lake
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 04/23/13 -- Forum Uranium Corp. (TSX VENTURE: FDC) ("Forum" or the "Company") announces that it has raised $500,000 through the issuance of 1,176,470 flow through common shares at a price of $0.425 per flow through share.
The Company paid finder's fees of $35,000 and issued 82,353 finder warrants exercisable at a price of $0.425 for a period of two years expiring April 23, 2015. All securities are subject to a four month hold period expiring August 24, 2013.
An airborne magnetic and electromagnetic (EM) survey, planned on the Company's 9,910 hectare Clearwater property that borders Alpha Minerals/Fission Energy claims over the Patterson Lake South discovery, will be part of the use of proceeds. The EM conductor hosting the uranium discoveries on the Alpha/Fission claims are interpreted to trend on to the Forum property. Alpha and Fission recently released assay results of 29.26% U3O8 over 10.5 metres at a second zone of three zones of mineralization discovered on the property along this fertile EM conductor.
Ken Wheatley, P.Geo. (Saskatchewan/Nunavut), Forum's Vice President, Exploration is the Qualified Person that has reviewed and approved 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 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.
Contacts:
Forum Uranium Corp.
Rick Mazur
President & CEO
604-630-1585
Forum Uranium Corp.
Matt Terriss
Director, Corporate Affairs
604-638-3947
www.forumuranium.com
CHF Investor Relations
Robin Cook
Senior Account Manager
416-868-1079 x 228
robin@chfir.com
