Energy - smartinvestment.ca

[steelpiston71]

Chart Support is completely gone on this one, 8.5 cents intraday, oversold for the entire month it would appear.

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VANCOUVER, BRITISH COLUMBIA--(Marketwired - July 8, 2014) - Forum Uranium Corp. (TSX VENTURE:FDC) ("Forum") is pleased to announce it has signed a binding Letter of Intent ("the LOI") with Uracan Resources Ltd. (TSX VENTURE:URC) ("Uracan"), whereby Uracan can earn up to a 70% interest in Forum's Clearwater Project in northern Saskatchewan. Forum is the 100% owner of the Clearwater Project.

The Clearwater Project covers a total of 9,912 hectares adjacent to the south-western edge of the prolific Athabasca Basin. The property adjoins Fission Uranium's Patterson Lake South claims on the south-west side.

The Clearwater Project is underlain by a mix of pelitic to psammitic metasediments that overlie older Archean gneisses. Graphitic horizons are typically present at the contact between the two and are a target for drilling, especially in areas where there are cross-cutting structures. Several SSW trending electromagnetic (EM) conductors cross from Fission's claim group onto the Clearwater Project.

To date, Forum has carried out exploration work consisting of prospecting, soil and lake radon surveys, lake sediment sampling, airborne EM, magnetic and radiometric surveys, and ground gravity and EM surveys. An initial nine hole, 2,310 metre drill program was completed by Forum in April 2014. This drilling has shown that a number of targets are altered and reactivated graphite bearing structures with elevated boron and nickel geochemistry. Forum and Uracan believe that the Clearwater Project has the potential to host high grade basement hosted uranium mineralization similar to that seen at Fission Uranium's Patterson Lake South property. Ample exploration potential remains to be tested throughout the property, with numerous geophysical targets remaining to be drill tested.

In order for Uracan to earn a 51% interest in the property it must incur a total of $3.0 million in exploration expenditures over 3 years as follows:
Issue a total of 300,000 shares and 150,000 warrants of Uracan to Forum on signing a definitive agreement,
Commit exploration expenditures of $0.5 million in year one (firm commitment),
Complete exploration expenditures of $1.0 million in year two, at which point Uracan will have earned a 25% interest,
Complete exploration expenditures of $1.5 million in year three to earn a 51% interest.

Uracan can elect to earn an additional 19% interest in the Clearwater Project (total 70% interest) by making an additional $3 million in exploration expenditures within a two year period following the date it earns its 51% interest. Uracan will also grant Forum a 2% NSR Royalty on the property, with Uracan having the option to purchase 1% of the NSR for $1.0 million.

Uracan will fund all exploration work until the earn-in option has been completed, after which further work will be funded by the Joint Venture partners. Forum will be the Project operator until Uracan earns its 51% interest, after which Uracan may elect to become the operator. The LOI is subject to TSX approval and a due diligence period to be waived by Uracan prior to July 31, 2014.

Ken Wheatley, P.Geo. (Saskatchewan/Nunavut), Forum's Vice President, Exploration is the Qualified Person that has reviewed and approved the contents of this news release.

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25.5 cents in late 2013 then doubled to 52 cents byMarch 2014. Now back to under 30 cents...

Five Major Structural Trends, Radioactivity and Alteration Identified by Drilling at Forum Uranium's Clearwater Project, Patterson Lake South Area

VANCOUVER, BRITISH COLUMBIA--(Marketwired - April 17, 2014) - Forum Uranium Corp.'s (TSX VENTURE:FDC) winter drill program on its 100% owned Clearwater Property has successfully identified five major structural trends with reactivated graphitic shear zones, alteration, and areas of localized radioactivity. These positive results warrant leaving the camp and drill on site to expedite the planning of a follow-up summer program with minimal start-up costs.

Regional exploratory drilling of gravity and electromagnetic targets intersected brecciated graphite/pyrite in reactivated faults on all electromagnetic conductor targets (Figure 1). Two drill holes (CW-07 and CW-0 returned a mix of strong chloritization, variable bleaching and localized secondary hematite, indicating oxidized fluids (Figure 2). Two holes, CW-05 (Mongo target) on the interpreted south-west extension of the Patterson Lake structure and CW-09 on the eastern "arm" returned elevated radioactivity. The Mongo hole returned minor graphite, brittle/ductile breccia zones and a local radioactive peak of 300cps. Numerous targets along the 3km long Mongo trend remain. Hole CW-09 intersected strongly altered and corroded, weakly graphitic pelitic gneiss with locally elevated radioactivity of up to 300cps. Further drilling in both these areas has been recommended by Forum's technical team.

Ken Wheatley, Vice President of Exploration commented, "Forum is pleased with its initial drill program on this project. The combination of sub-vertical reactivated graphitic shear zones, intense alteration in the upper sections of the holes and the occasional occurrence of secondary hematite is indicative of the type of environment for transporting uranium bearing fluids. Clearwater is a large and untested property strategically located along strike from the PLS deposits, and this first pass limited drill program has provided valuable geological insight. We still have plenty of targets to drill along these structural corridors on the northern claim, and have yet to begin drilling the southern claims with their conductive trends, airborne radiometric anomalies and high uranium values in the lake sediments."

Forum completed nine holes totaling 2,310 metres on nine separate, widely spaced targets, including a number of gravity lows, radon anomalies and EM conductors both on strike and running parallel to Fission Uranium's Patterson Lake South trend. Analytical results are expected in early June. The drill program terminated early due to spring break-up, and planned drilling of a second hole on Mongo Lake was deferred due to poor ice conditions.

Forum will continue to prioritize the numerous conductive trends on the project and identify new targets from further evaluation of the results of this program. Most of the area is accessible all year round.

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Share consolidation:

VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 12/28/12 -- Forum Uranium Corp. (TSX VENTURE:FDC) announces that it has completed the consolidation of its common shares on the basis on one (1) "new" common share for fifteen (15) "old" common shares as approved by shareholders at Forum`s Annual and Special Meeting held on December 14, 2012. Effective Thursday, January 3, 2013, the common shares of the Company will commence trading on the TSX Venture Exchange on a consolidated basis under the same stock symbol "FDC".

Prior to the consolidation it was trading at 2 and 2.5 cents. Those trades would not be the equivalent of .30 and .375. The last trade was .375.

With 159 M shares outstanding, that means prior to the 15:1 there were 2.4 B shares out?!