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Gold/Mining/Energy : Uranium Stocks -- Ignore unavailable to you. Want to Upgrade?

To: Proud Deplorable who wrote (9066)	3/12/2007 4:18:18 PM
From: siempre33	Respond to of 30247

they came down with a THUD! Forum Uranium and Global Uranium Intersect 0.19% U3O8 at Orchid Lake CCNMATTHEWS Forum Uranium Corp. March 12, 2007 - 12:56:41 PM Forum Uranium and Global Uranium Intersect 0.19% U3O8 at Orchid Lake VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - March 12, 2007) - Forum Uranium Corp. (TSX VENTURE:FDC) and Global Uranium Corp. (TSX VENTURE:GU) are pleased to announce results from nine holes comprising 1,140 metres (m) of drilling on the Orchid Lake project. Drilling of six holes along the P Conductor yielded a result of 0.19% U3O8 over an approximate true width of 0.1 metres in drill hole OL-05 at a vertical depth of 120 m. This intercept is within a fault zone in graphitic pelite with strong clay alteration and secondary sulphides that assayed 0.09% U3O8 over an approximate true width of 0.35 m. Drill holes OL-04 to OL-09 are angle holes that tested only two kilometres (km) of the P Conductor at 400 m drill spacings. A further six km of the P Conductor remain untested. Forum, as Operator of the project, has recommended follow-up drilling to its earn-in partner, Global Uranium Corp. in the vicinity of OL-05 and along a three km section to the west of OL-09. This section of the conductor is coincident with a magnetic low anomaly that may represent favourable alteration related to uranium mineralization. A plan map of the drill holes can be viewed at: forumuranium.com Drill hole OL-04 first intersected the fault zone at a depth of 90 m and encountered strong clay alteration in graphitic pelite that assayed 0.02% U3O8 over an approximate true width of 0.7 m. Drill hole OL-05 was collared to intersect the down-dip extension of this fault zone and succeeded in following the mineralization at depth. The fault zone, intersected in these two drill holes within tectonized graphite at the contact with Archean granite, appears to have good continuity. Three drill holes (OL-01 to OL-03) tested the Q Conductor and intersected un-mineralized graphitic pelite. However, not all of the drill targets on the Q Conductor were tested due to difficult winter drill conditions. Completion of these drill holes is recommended for the next winter drill season. The targets on the Orchid Lake property are shallow, basement-hosted, unconformity-type uranium deposits. The project is located 20 kilometres west of the Cameco/AREVA Key Lake Uranium Mill in the prolific Athabasca Basin of northern Saskatchewan. The Orchid Lake property is interpreted to lie on an ENE structure that hosts the Key Lake uranium deposit that had an average grade of 2.45% U3O8. The Key Lake mine produced over 195 million pounds of uranium from 1983 to 1997. Global can earn a 60% interest in the Orchid Lake property by making cash payments of $190,000, issuing 700,000 common shares of Global to Forum and incurring a $2.25 million exploration commitment over a three year period. Forum also retains a 3% Net Smelter Return Royalty and is the operator of the project. Quality Assurance/Quality Control Samples were hand delivered by the Company's geological contractors, Taiga Consultants Ltd. in security sealed containers to Loring Laboratories Ltd. in Calgary, Alberta. Rock samples are crushed to minus 10 mesh, split to a 250 gram sample and pulverized to 90% passing 150 mesh. Samples are analyzed by 30 element ICP analysis which report as ppm uranium and uranium content is converted to %U3O8 content. ICP results over 1000 ppm uranium are check assayed by fluorimetric analysis. A result of 0.1% U3O8 is equivalent to 2 pounds of U3O8 per short ton. All holes were logged with a downhole radiometric probe. Dr. Boen Tan, P. Geo. (Saskatchewan), Forum's Chief Geologist and Qualified Person supervised the Orchid Lake drill program and interpretation. About Forum Uranium Forum Uranium Corp. is a Canadian-based energy company with a focus on the acquisition, exploration and development of uranium projects. The Company has a 100% interest in over 160,000 hectares of uranium exploration properties, a 65% operating interest in the Costigan Lake Joint Venture with partner NVI Mining (Breakwater Resources) and a 50% operating interest in the Haultain River Joint Venture with partner Hathor Exploration in the prolific Athabasca Basin, Saskatchewan. Forum also has a 50% operating interest in the North Thelon Joint Venture with partner Superior Diamonds in over 100,000 hectares of prospective ground nearby AREVA's 130 million pound U3O8 Kiggavik uranium deposit in the Thelon Basin, Nunavut Territory. ON BEHALF OF THE BOARD Richard J. Mazur, P.Geo., President & CEO FOR FURTHER INFORMATION PLEASE CONTACT: Forum Uranium Corp. Timea Carlsen Manager of Corporate Communications (604) 638-3949 (604) 689-3609 (FAX) Email: info@forumuranium.com Website: www.forumuranium.com Global Uranium Corp. George Heard President (604) 632-0085 (604) 605-0009 (FAX) Email: gwheard@shaw.ca Website: www.globaluranium.net