Mr. Richard Mazur reports

RIO TINTO EXPLORATION CANADA COMMENCES A RESISTIVITY SURVEY ON FORUM'S 40% OWNED HENDAY PROPERTY, ATHABASCA BASIN

Rio Tinto Exploration (RTX) has commenced an 81-line-kilometre DCIP (direct current resistivity and induced polarization) survey by Discovery International Geophysics Inc. on the Henday property held 60 per cent by RTX and 40 per cent by Forum Uranium Corp. The survey is following up target areas that were drilled this past winter and one new target area. The survey is a pole-dipole and pole-pole array type with receiver dipole lengths of 50 metres, and current injection intervals every 25 metres, which should be completed by mid-October.

The survey comprises a total coverage of 81 line kilometres as follows:

• Epitaph block -- approximately 20.9 line kilometres of resistivity surveying on nine lines spaced at 300 metres;
• Hollow Lake block -- approximately 55.6 line kilometres of resistivity surveying on 12 lines spaced at 200 metres;
• Poseidon block -- approximately 4.5 line kilometres of resistivity surveying on three lines spaced at 400 metres.

This past winter, RTX completed a 15-hole, 5,340.3-metre drill program on three target areas on the Henday property (see news release dated May 18, 2016), located northeast of Rio Tinto's Roughrider uranium deposit nearby the Areva/Denison McClean Lake mill in Saskatchewan's Athabasca basin. Six holes were drilled in the Hollow Lake target area, six holes in the Elephant target area and three holes in the Epitaph target area. Of highlight was hole 16HDY007 at Hollow Lake which intersected anomalous uranium mineralization in two discrete 0.3-metre uranium-bearing fractures at 177.4 metres and 182.4 metres, respectively. Assay results indicated the fracture at 177.4 metres contained 523 parts per million uranium total digestion (UTD), whereas the fracture at 182.4 metres contains 469 parts per million UTD.

Ken Wheatley, PGeo, 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 the Henday property

The Henday project consists of three claims covering 7,204 hectares at the northeastern side of the Athabasca basin, Saskatchewan. The property is strategically located northeast of Rio Tinto's Roughrider uranium deposit, the Denison/Areva Midwest Lake project and nearby McClean Lake mill, and north of Cameco/Areva's Dawn Lake project.

RTX has earned a 60-per-cent interest in Henday, and Forum holds a 40-per-cent interest. RTX has the right to acquire an additional 10-per-cent interest in the Henday project by financing $20-million in exploration or delivering a feasibility study, whichever occurs first. Proceeds expended on this geophysical survey will be credited toward RTX earning its additional 10-per-cent interest in the project.