Vancouver - Forum Energy Metals Corp. (TSX.V: FMC; OTCQB: FDCFF) ('Forum' or 'the Company') is pleased to update shareholders with a review of the Company's revised exploration plans on its uranium, copper, nickel and palladium projects in Saskatchewan and its cobalt project in Idaho.

URANIUM PROJECTS

Wollaston

Forum has submitted a permit application for a 3,000 metre drill program commencing mid-January, 2022. The Wollaston property is located within 10km of Cameco's Rabbit Lake uranium mill and within 30km of Orano/Denison's McClean Lake uranium mill. Numerous uranium deposits in this part of the Athabasca basin have been mined and/or recently discovered. Forum staked the property in April, 2020 and conducted a gravity survey in the spring of 2021. Compilation of the historical geophysical and drill data, Forum's interpretation of the structural data and processing of the gravity survey has identified a number of prospective drill targets. Further gravity surveys will be conducted in January as part of the proposed program.

Northwest Athabasca JV (39.5% Forum; 28% NexGen; 20% Cameco; 12.5% Orano)

Forum has submitted a permit application for a 3,500 metre drill program on the Northwest Athabasca Joint Venture. As a matter of good environmental stewardship, Forum has spent the last two months decommissioning the old camp in phase one of the program. The new camp was not able to be delivered to the site due to closure of the barge season. Forum is conducting a cost/benefit analysis to mobilize camp, fuel and equipment over the summer as opposed to this winter and delay drilling to the winter 2023 season.

The historical 1.5 million pound Maurice Bay uranium deposit is a perched deposit in the sandstone based on 600,000 tonnes grading 0.6% U3O8 to a depth of 50 metres in the Western Athabasca Basin. Forum is focused on the discovery of a larger uranium deposit hosted at the unconformity between the sandstone and basement rocks and/or within the basement rocks.

Fir Island (Orano Canada Option to Earn 70%)

Forum, as Operator is reviewing tenders for a resistivity survey to be conducted in March, 2022 to the north of drilling completed this past winter on Fir Island where strong indications of potential uranium mineralization have been identified along the Cathy Fault. Results from the survey will be processed with a view to drill any anomalies in the winter of 2023.

Other Uranium Projects

Forum has identified a number of drill targets from past drilling by Forum at the 100% owned Highrock and the 65% owned Costigan projects located 5 km south of Cameco's Key Lake uranium mill. In the Western Athabasca Basin, Forum's 75% owned Clearwater project, on trend from Fission's Triple R and NexGen's Arrow development projects has drill targets identified by previous Forum drilling. Expressions of interest have been received for these projects by potential joint venture partners and permits have been submitted for drilling.

ENERGY METAL PROJECTS

Janice Lake Copper/Silver (Rio Tinto Option to Earn 80%)

Results from the last five holes of the summer drill program are expected later this month. Forum and Rio Tinto have a management committee meeting later this month to review results from the 2021 exploration program and plans for 2022.

Love Lake Nickel/Copper/Palladium (100% Forum)

Forum completed eleven drill holes totalling 2,844 metres on three targets identified over the Love Lake mafic/ultramafic complex. Results are expected in late November/early December.

About Forum Energy Metals

Forum Energy Metals Corp. (TSX.V: FMC) drilled three 100% owned energy metal projects in 2021 by the Company and its major mining company partners Rio Tinto and Orano for copper/silver, uranium and nickel/copper/platinum/palladium in Saskatchewan, Canada's Number One Rated mining province for exploration and development. In addition, Forum has a portfolio of seven drill ready uranium projects and a strategic land position in the Idaho Cobalt Belt.

This press release contains forward-looking statements. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.

Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause Forum's actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information. Such factors include but are not limited to: uncertainties related to the historical data, the work expenditure commitments; the ability to raise sufficient capital to fund future exploration or development programs; changes in economic conditions or financial markets; changes commodity prices, litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; technological or operational difficulties or an inability to obtain permits required in connection with maintaining or advancing its exploration projects.

Contact:

Rick Mazur

Tel: 604-630-1585

Email: mazur@forumenergymetals.com

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