10 October 2023
Vancouver, B.C., October 10, 2023 – Forum Energy Metals Corp. (TSX.V: FMC; OTCQB: FDCFF) (“Forum” or the “Company”) announces the geochemical results from the Ned anomaly, one of over 20 targets for high grade unconformity-related deposits on its Thelon Basin uranium project located 100 km west of Baker Lake, Nunavut. Forum drilled four holes into the Tatiggaq zone and one hole in the 2km by 2km Ned target outlined by a large gravity low anomaly. Forum holds a 100% interest in 95,500 hectares of ground adjacent to Orano’s 133 million pound Kiggavik uranium project* (Figure1).
HIGHLIGHTS
Dr. Rebecca Hunter, Forum’s VP, Exploration stated, “The Ned Anomaly is one of numerous targets identified on the property that could host a major uranium deposit in addition to our Tatiggaq deposit. The elevated uranium and pathfinder elements from drilling into the sandstone suggests the area is fertile for hosting unconformity-related mineralization in the vicinity of this very large anomaly. The clay alteration and bleached rock encountered in the drillhole is typical of what is observed within the sandstone column overlying unconformity-related uranium deposits in the Athabasca. I am encouraged by these results and look forward to getting back to drill this target in 2024.”