FORUM ENERGY METALS CORP - FDCFF STOCK NEWS

Forum Energy Metals Corp. (TSXV: FMC) (OTCQB: FDCFF) has completed its 2024 drilling program at the Aberdeen Uranium Project in Nunavut. The program involved 30 diamond drill holes totaling 6,962 metres across 5 targets. Key highlights include:

1. Nineteen holes at Tatiggaq, following up on 2023 results of 2.25% U3O8 over 11.1 metres.
2. Two holes at Qavvik to test a controlling structure.
3. Four holes each at Ayra and Ned targets.
4. One hole at Loki, exhibiting intense clay and sooty sulphide alteration.

The company also completed over 5,000 gravity stations, identifying new drill targets. Assay results are expected in mid to late October. Forum's VP of Exploration, Rebecca Hunter, stated the program was highly successful and will provide data for a preliminary resource estimate at Tatiggaq and Qavvik.

Forum Energy Metals Corp. (TSXV: FMC, OTCQB: FDCFF) announced ongoing drilling success at its 100% owned Aberdeen Uranium Project in Nunavut.

Seventeen holes, totaling 4,307 meters, have been drilled along the Tatiggaq Fault, with 685 samples sent for analysis. Results will be available by the end of September. The drilling validates similarities to the prolific Kiggavik uranium deposits.

Phase Two has commenced, focusing on additional high-priority targets. A 30-person camp has been established, and drilling will continue for another four to six weeks.

An advisory agreement with DS Market Solutions aims to enhance market depth and liquidity, providing services at $5,000 per month.

Forum Energy Metals Corp. has appointed Richard Aksawnee as the Manager of Nunavut Affairs for its Aberdeen Uranium Project near Baker Lake, Nunavut. Richard, a long-time community leader, aims to enhance local engagement, workforce development, and community investment during exploration activities. Richard's extensive experience includes serving as Baker Lake's mayor from 2019 to 2023 and chairing the Hunter and Trappers' Organization for 20 years. Forum's Aberdeen project spans over 95,000 hectares of highly prospective land, with significant deposits identified in previous drilling programs. Current exploration drilling is focused on the Tatiggaq deposit.

Forum Energy Metals has launched a 10,000-meter diamond drilling program on its 100% owned Aberdeen Uranium Project in Nunavut. This initiative involves drilling approximately 25-30 holes within the Tatiggaq anomaly and 10 more holes in other prospective areas like Ned, Bjorn, and Qavvik targets. The drilling targets are refined using processed and modelled Ambient Noise Tomography (ANT) survey data. The Tatiggaq deposit comprises two zones, Main and West, located at depths of 80-180 meters, and the 2024 drilling aims to extend these zones and evaluate new areas within the Tatiggaq gravity anomaly. This marks the first large-scale uranium exploration in the Thelon Basin since 2012, with high-priority targets identified for their significant deposit potential.

Forum Energy Metals and Traction Uranium have commenced an airborne MobileMT survey at the Grease River Project in Saskatchewan's Athabasca Basin. The survey, covering 1,781 line-km with 100-meter spacing, will provide high-resolution magnetic and VLF data to aid future drilling. This new survey aims to better resolve conductors and fault zones previously masked by shallow layers. Traction Uranium can acquire up to 100% interest in the project through staged payments and exploration funding totaling $11.95 million by 2028. The data will enhance the understanding of subsurface structures, potentially identifying new uranium mineralization zones.

Forum Energy Metals Corp. (TSXV: FMC, OTCQB: FDCFF) has announced a non-brokered private placement of up to 7,407,407 units at $0.135 per unit, aiming for $1,000,000 in gross proceeds. Each unit includes one common share and one-half of a share purchase warrant, with each whole warrant allowing the purchase of one common share at $0.20 for 24 months following the offering. The funds will be used for working capital, pending TSX Venture Exchange approval. Finder's fees may apply, and all securities issued will be subject to a four-month hold period.

Forum Energy Metals Corp. (TSXV: FMC, OTCQB: FDCFF) has entered an option agreement with Global Uranium Corp. The agreement allows Global to acquire up to 75% of Forum's interest in the Northwest Athabasca Joint Venture, a project for uranium exploration and development in Saskatchewan. Global can initially acquire 51% by making staged payments totaling $225,000, issuing 1,000,000 shares, and contributing up to $9 million by 2027. Upon completing this, Global can acquire an additional 24% by contributing up to $11 million between 2029 and 2031. The agreement is subject to TSX Venture Exchange approval. Key targets include the Maurice Bay deposit and Spring Bay area.

Forum Energy Metals has started constructing a drill camp at its Aberdeen Uranium Project in Nunavut, Canada, adjacent to the Kiggavik uranium deposit. The camp will support a 10,000-meter drill program beginning mid-June. Inuit-owned Peter's Expediting transported drills and equipment to the site, while Discovery Mining Services is building the 30-person camp. Follow-up drilling will target the Tatiggaq deposit, where previous drilling showed uranium mineralization over a 1.5 km area. Dr. Rebecca Hunter, VP of Exploration, noted that the geological team is analyzing recent Ambient Noise Tomography results for June's drill targets.

Forum Energy Metals will be presenting at the Metals Investor Forum in Vancouver, BC on May 10-11, 2024. The company's President & CEO, Richard Mazur, and Vice President of Exploration, Dr. Rebecca Hunter, will be in attendance. Dr. Hunter will provide an update on Forum's high-grade uranium discovery in the Thelon Basin, Nunavut. Forum is gearing up for a $10 million summer drill campaign and focusing on the Tatiggaq deposit. Investors can register for the event online. For inquiries about Forum's projects, contact Rick Mazur.