Forum Announces Senior Management Position in Baker Lake, Nunavut for the Aberdeen Uranium Project

Rhea-AI Summary

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.

Positive

• Appointment of a well-respected community leader, Richard Aksawnee, as Manager of Nunavut Affairs likely to improve local engagement.
• Richard Aksawnee's experience and leadership expected to guide workforce development and community investment in the Aberdeen Uranium Project.
• Forum's continued drilling on the Tatiggaq deposit shows promising results with high-grade uranium intersections.

Negative

• No new financial data or concrete business development metrics provided in the announcement.

Vancouver, British Columbia--(Newsfile Corp. - July 9, 2024) - Forum Energy Metals Corp. (TSXV: FMC) (OTCQB: FDCFF) ("Forum" or the "Company") is pleased to announce that long-time Baker Lake community leader, Richard Aksawnee has accepted the new role as Manager of Nunavut Affairs.

"We are excited to welcome Richard Aksawnee to the Forum team," affirmed Allison Rippin Armstrong, Vice President, Nunavut Affairs. "Richard's extensive experience and demonstrated leadership will help guide our engagement strategy, workforce development and community investment. This senior position will bring a focus to community priorities and perspectives during our exploration activities on our Aberdeen Uranium project near Baker Lake."

"This role is my way of aligning my commitments, championing the environment and wildlife while pursuing opportunities for the community," stated Richard Aksawnee. "I believe that you need to plant the seed during exploration to fully maximize education, training, employment and community investment benefits for future development."

Richard Aksawnee is deeply integrated in the community. Born and raised in Baker Lake, he was inspired by his late father, David, who also served as mayor, to pursue leadership roles. Richard served as mayor from 2019 to 2023 and has chaired the Hunter and Trappers' Organization for 20 years. His commitment to community service is further demonstrated by his active involvement in search and rescue operations and youth sporting activities.

As Manager of Nunavut Affairs, Richard's priorities include championing local involvement and ensuring that the community benefits from industry opportunities. He sees this as an ideal time to get involved and help people access the industry, reinforcing his commitment to the well-being and development of Baker Lake.

The Aberdeen Uranium Project

Forum staked over 95,000 hectares of highly prospective land formerly held by Cameco Corporation adjacent to Orano Canada's 133-million-pound Kiggavik* uranium deposit in 2021. During Cameco's 8-year exploration program from 2005 to 2012 culminating in 36,000 metres of drilling, two significant deposits- Tatiggaq and Qavvik and 20 other high priority exploration targets were identified. In 2023, Forum drilled four holes into the Tatiggaq deposit and intersected 2.25% U3O8 over 11.1 metres, 1.01% over 6.2 metres and 0.40% over 12.8 metres in three holes. Forum is currently drilling on the Tatiggaq deposit located five kilometres west of two of Orano's largest deposits on the Kiggavik project containing 93 million pounds uranium*.

*(Source: Areva Resources Canada Inc., The Kiggavik Project, Project Proposal, November 2008 and Kiggavik Popular Summary, April 2012 submission to the Nunavut Impact Review Board).

Rebecca Hunter, Ph.D., P.Geo., Forum's Vice President of Exploration and Qualified Person under National Instrument 43-101, has reviewed and approved the contents of this news release.

About Forum Energy Metals

Forum Energy Metals Corp. (TSXV: FMC) (OTCQB: FDCFF) is focused on the discovery of high-grade unconformity-related uranium deposits in the Athabasca Basin, Saskatchewan and the Thelon Basin, Nunavut. For further information: https://www.forumenergymetals.com.

ON BEHALF OF THE BOARD OF DIRECTORS

Richard J. Mazur, P.Geo.
President & CEO

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

For further information contact:

Rick Mazur, P.Geo., President & CEO
mazur@forumenergymetals.com
Tel: 604-630-1585

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/215992

FAQ

What new role was Richard Aksawnee appointed to at Forum Energy Metals?

Richard Aksawnee was appointed as the Manager of Nunavut Affairs for Forum Energy Metals' Aberdeen Uranium Project.

What is Richard Aksawnee's background in community leadership?

Richard Aksawnee served as the mayor of Baker Lake from 2019 to 2023 and chaired the Hunter and Trappers' Organization for 20 years.

What are the key responsibilities of Richard Aksawnee in his new role?

Richard Aksawnee will focus on local engagement, workforce development, and community investment during the Aberdeen Uranium Project's exploration activities.

What recent drilling results did Forum report for the Tatiggaq deposit?

Forum reported intersecting 2.25% U3O8 over 11.1 metres, 1.01% over 6.2 metres, and 0.40% over 12.8 metres in three holes at the Tatiggaq deposit.

Where is Forum Energy Metals' Aberdeen Uranium Project located?

The Aberdeen Uranium Project is located near Baker Lake, Nunavut, and spans over 95,000 hectares of land.