Uracan and Forum Agree to Terminate Option on Clearwater Propert - Erie News Now | WICU & WSEE in Erie, PA

Uracan and Forum Agree to Terminate Option on Clearwater Property in the Patterson Lake South Area

Posted:

Vancouver, British Columbia--(Newsfile Corp. - October 4, 2017) - Forum Uranium Corp. (TSXV: FDC) ("Forum") and Uracan Resources Ltd. (TSXV: URC) have agreed to terminate the Clearwater Project Option Agreement signed August 18, 2014. Forum owns 75% and Uracan earned a 25% interest after spending $1.5 million on exploration over the past two years. Exploration focused on trend to the southwest of Fission's Triple R deposit, where limited drilling was followed up with a ground TEM study to further define prospective conductors for future drill testing. Forum will evaluate its next steps for advancement of this drill ready project, including potential joint venture.

The Clearwater Project covers a total of 9,912 hectares adjacent and to the southwest of Fission Uranium's Patterson Lake South claims (Figure 1). Forum and Uracan conducted two drill campaigns, completing 20 holes for a total of 5,418 metres of drilling. A number of drill targets remain to be followed up from the previous drilling and new targets remain untested.

About Forum Uranium

Forum Uranium Corp. is a Canadian-based mineral exploration company focusing on the acquisition, exploration and development of Canadian uranium projects. Forum has assembled a highly experienced team of exploration professionals with a track record of mine discoveries for unconformity-style uranium deposits in Canada. The Company has a strategy to discover near surface uranium deposits in the Athabasca Basin, Saskatchewan by exploring on its 100% owned properties and through strategic partnerships and joint ventures with Cameco, AREVA, Rio Tinto Exploration, NexGen and Uracan.

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, President & CEO
Tel: 604-63
0-1585

Craig Christy, Vice President, Corporate Development
Tel: 250-863-0561



Figure 1: Location Map of the Clearwater Project. Note location along the Patterson Lake Corridor. Figure modified from NexGen website.

To view an enhanced version of Figure 1, please visit:
http://orders.newsfilecorp.com/files/4908/29463_a1507072963626_70.jpg

Information contained on this page is provided by an independent third-party content provider. Frankly and this Site make no warranties or representations in connection therewith. If you are affiliated with this page and would like it removed please contact pressreleases@franklyinc.com

Powered by Frankly
3514 State St. Erie, PA 16508
Newsroom: (814) 454-8812
Business offices: (814) 454-5201
WICU FCC Filing
WSEE FCC Filing
Share:
Share Stories
Submit your stories to our site!
Share Photos
Share your photos in our community galleries
RSS Feeds
All content © Copyright 2000 - 2017 WICU. All Rights Reserved.
For more information on this site, please read our Privacy Policy and Terms of Service.
                   WICU/WSEE - 3514 State Street Erie, PA 16508 - (814) 454-5201 - info@wicu12.com