Forum Energy Metals Corp. announced that it has completed drilling eight holes for 2,062 metres on its 100% owned Wollaston Uranium Project, located 10km southeast of Cameco's Rabbit Lake mill and 30km southeast of Orano/Denison's McClean Lake mill. First Target – Gizmo: The drill program tested 3 zones of gravity lows, two of them in combination with EM conductors.

The first gravity low (Gizmo) measuring 300 metres long and 200 metres wide was tested by 5 holes and returned very strong alteration of the rocks immediately beneath the overburden at 40m and continuing to about 150m depth. Weak uranium mineralization was seen in core with associated bleaching, secondary hematite and minor uranium oxides in several of the holes. A downhole radiometric probe detected anomalous radioactivity in 4 out of the 5 holes: 1,540 counts per second (cps) at 187.8 metres (m) in DDH WO-1; 1,752 cps at 128.1m in DDH WO-2; 4,620 cps at 161.2m in DDH WO-2; 2,002 cps at 105.3m in DDH WO-3; 3,320 cps at 111.2m in DDH WO-4. Further drilling is recommended on this target in areas that could not be reached this winter, testing an EM conductor that crosses the northwest part of the gravity low.

Second and Third Targets ­ Mugger and Stripe: The sixth hole tested a weak gravity anomaly (Mugger) that returned relatively fresh calc-silicates and has been eliminated. The final two holes tested a third gravity anomaly (Stripe), also with an associated EM conductor that intersected a series of faulted units with associated gouges and local alteration. These holes have been heavily sampled and sent for assay.

Future Plans: Forum sent 393 samples of the drill core to the Saskatchewan Research Council for geochemical analysis and results are expected in a month. The Company is reviewing its plans for further exploration of the property, including drilling of the Gizmo target. Excellent targets remain on the west side close to the highway, which will be investigated first before moving to the eastern targets.

Further airborne and ground geophysical surveys are being considered to fully test the regional potential of the property.