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 TSX.V; FDC
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Company Statement
Forum Uranium Corp. is a Canadian-based energy company with a focus on the acquisition, exploration and development of Canadian uranium projects in the Athabasca Basin, Saskatchewan and the Thelon Basin, Nunavut. 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 nearby existing infrastructure by exploring on its 100% owned properties and through strategic partnerships and joint ventures.
Current Operations
Uranium
Athabasca Basin
The Athabasca Basin of Saskatchewan is the single largest uranium producing region in the world and supplies over 30% of all the uranium produced from mines annually.
The "unconformity" deposit-types, located in the Athabasca Basin, are the most prolific deposit type in the world and are host the majority of economic mineable deposits around the world.
Forum's uranium exploration properties have been selected based on their proximity to known uranium deposits and with an exploration model based on at or near-surface uranium mineralization.
Thelon Basin
The Thelon Basin has similar geological potential as the Athabasca Basin and contains the 148M lb U3O8 Kiggavik Deposit owned by Areva. The Thelon Basin is one of the most under explored Uranium Basins with potential to host further world class unconformity-type uranium deposits.
North Thelon Project
The North Thelon Project now covers over 245,000 ha and consists of four project areas; the Kiggavik North and South Projects, the Tanqueray Option, the Agnico-Eagle Option and the northern half of Inuit Owned Land (IOL) parcel BL-21, all located on the eastern margin of the Thelon Sandstone Basin, approximately 50km west of Baker Lake, Nunavut. All the projects are located adjacent to Areva's Kiggavik uranium mine development project (148M lb U3O8).
Areva Resources Canada Inc. has filed a project description to the Nunavut Impact Review Board, the regulatory authority that approves mining projects in the territory, for public consultation, environmental assessment and permitting of the Kiggavik Mine Development project. The total quantity of recoverable reserves is currently estimated at 114 million pounds U3O8. The ore would be processed in an on-site mill at Kiggavik to produce 7.8 million pounds U3O8 per year over a mine life of 17 years, commencing in 2015. The project is expected to employ 400-600 people during operations.
Key Lake Road Project
The Key lake Road Project area consists of 5 projects, covers over 240,000 ha and 100 km of prospective mine trend. This location, the eastern margin of the Athabasca basin, is home to the most productive uranium mines in the world with roughly 25% of the worlds Uranium productions coming from this area. The projects are, Key Lake Road, Haultain River, Romulus, Orchid Lake, and Highrock Lake.
Henday Project
The 100%-owned Henday Project consists of 3 claims covering 7,204 ha of the north-eastern margin of the Athabasca Basin, Saskatchewan. The property is strategically located along the north-east trend which hosts the Midwest Lake mine project (41.0M lbs. U3O8 at an average grade of 5.5%) currently slated for production in 2008 by AREVA Resources Canada and Denison Mines Corp., and the Midwest A Zone, where Denison Mines recently reported results of 10.5 meters grading 12.4% U3O8 to 22.6 meters grading 26.7% U3O8.
Forum entered into an Option Agreement on the Henday project in the Athabasca Basin, Saskatchewan with Hathor Exploration Limited ("Hathor") on February 27th, 2009. Hathor can earn up to a 60% interest in stages by spending $3.5 million in exploration over three years and making a payment of 150,000 shares upon TSX approval. Hathor's first year commitment is to complete a $500,000 ground electromagnetic and gravity survey program to commence immediately. A further 10% interest in the property can be earned by completing a feasibility study. Forum will be the operator up until Hathor completes its 60% interest.
Maurice Point Project
The 100%-owned Maurice Point Project consists of one mineral permit and fifteen mineral claims, covering 51,799 ha of the margin of the Athabasca Basin, Saskatchewan. The property is located immediately adjacent to Cameco Corporation's Maurice Bay deposit on the northwest margin of the Athabasca Basin.
The Maurice Bay uranium deposit, is reported to host 1.3 million pounds of U3O8 at a grade of 0.6%, includes structurally controlled mineralization within altered basement rocks and at the sub-Athabasca unconformity.
Forum Uranium has entered into an agreement with Mega Uranium Ltd. (MGA:TSX.V) to explore and develop Forum's 100% owned Maurice Point property, whereby Mega Uranium can earn a 55% interest in the Maurice Point project by spending $8 million over three years and issuing 100,000 Mega shares to Forum. Mega can earn a further 15% interest (total 70% interest) by delivering a positive feasibility study and arranging project financing. Forum has the option to convert its remaining 30% interest to a 2% NSR at its election. Forum is the Operator.
Geographical Spread
Athabasca Basin, Saskatchewan and Thelon Basin, Nunavut
Board of Directors and Key Management
| Richard J. Mazur | President, CEO & Director |
| Anthony Balme | Director |
| David Cowan | Director |
| Larry Okada | Director |
| Michael A. Steeves | Director |
| Ken Wheatley | Vice President, Exploration of the Company |
| Dr. Boen Tan | Chief Geologist |
| Bruce Harmeson | Uranium Project Manager |
| Philip Robertshaw | Geophysical Consultant |
| Anthony Williamson | Project Manager, Nunavut |
| Kerry Beamish | Chief Financial Officer |
| Jacqueline Collins | Corporate Secretary |
| Mark Prosser | Corporate Communications |
Company Address#910 - 475 Howe Street
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Additional Address/Key ContactToll Free: 1-866-689-2599 |
Capital114,857,671 Shares Outstanding
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Year EndNovember 30th |
Nominated BrokersSalman Partners Inc |
Major Shareholders
| Qwest Investment | 9% |
| Pinetree Capital | 8% |
| Other Institutional | 8% |
| Agnico-Eagle Mines (AEM:TSX) | 7% |
| Management & Directors | 6% |
Related News
07/10/09 - Forum Uranium Has a Rare (Earth) Opportunity12/03/09 - Forum Brings More Than A Century’s Worth Of Experience In Uranium Geology To Its Work On The Athabasca And Thelon Basins
31/01/08 - Forum Uranium Boasts One Of Canada’s Premier Uranium Exploration Teams
Most Recent Statement
08/02/10 - Forum and Hathor Commence Drilling at the Henday Project, Athabasca Basin01/02/10 - Forum Begins Drilling on the Costco Zone, Key Lake Road Project, Athabasca Basin
22/12/09 - Forum Announces Closing Of Private Placement
15/12/09 - FORUM TO DRILL UP TO 15 HOLES ON THE KEY LAKE ROAD PROJECT, ATHABASCA BASIN
10/12/09 - FORUM ARRANGES $720,000 PRIVATE PLACEMENT
01/12/09 - Forum And Hathor Prepare For $1.65 Million Drill Program On The Henday Project, Athabasca Basin