Introduction
The 100%-owned Key Lake Road Property consists of two mineral permits and 5 mineral claims covering 111,564 ha of the eastern margin of the Athabasca Basin, Saskatchewan. The property is located 20 km southwest of Cameco's Key Lake Mine/Mill Complex, the principal processing facility for the nearby high grade McArthur River uranium mine and site of the formerly productive Key Lake Deposit.

Geology
The Key Lake Road Project covers favorable basement rocks within the Mudjatik-Wollaston Tectonic Zone, a northeast trending structural zone on the eastern margin of the Basin along which the district's most productive uranium mines occur. Over 95% of known Canadian uranium deposits and all current uranium producing mines in Canada are located on this trend.

The Mudjatik-Wollaston Tectonic Zone is the NE trending high strain tectonic zone marking the boundary between the Archean gneisses and granitoids of the Mudjatik Domain to the west and Archean gneisses, metasediments, and pegmatite intrusions of the Wollaston domain to the east. Uranium mineralization on the Key Lake Road Project generally occurs within a Proterozoic, graphite-bearing suite of metapelite, pelite, calc-silicate and arkosic metasediments found within this high strain zone.

The Key Lake Road Project is targeting basement hosted, structurally and stratigraphically controlled uranium deposits such as Comeco's Millennium deposit (containing 47.2M lbs of U₃O₈ indicated and inferred) and the Eagle Point/Rabbit Lake deposit (containing 19.0M lbs of U₃O₈ proven and probable). These deposits generally contain structurally controlled veins, breccias and massive replacement-type mineralization.

Historical Work
Historical work completed by Forum Uranium and other companies on the Key Lake Road project including trenching, sampling, and geophysics, and drilling has outlined several key target areas such as the Millison, the DD, the Rainbow, the Molly, and the Hobo zones with grab samples in outcrop ranging from 0.032% to 7.65% U₃O₈.

During the 2006-2007 seasons, Forum Uranium conducted approximately 6000m of drilling comprised of 40-50 wide-spaced holes on several of these targets which yielded very favorable results including:

DD Zone
Multiple zones of uranium mineralization were intersected over a total length exceeding 140 metres (m) in hole DD-16 within strongly sulphide-altered, fractured and brecciated graphitic pelite. The grades of the mineralization ranges from 0.011% U₃O₈ over 0.2m to 0.09% U₃O₈ over 0.2m. The uranium mineralization in DD-16 is more widely distributed compared to those found in hole DD-03 which is located 40m to the west. It is also very likely that additional uranium mineralization occurs at depth.

Hobo Zone
Strongly tectonized graphitic pelite with strong hydrothermal clay alteration was found in all holes drilled along the Hobo Zone conductor, which indicates the presence of a strong shear zone. Of the seven holes (H-01 to H-03 and H-10 to H-13) drilled along the Hobo conductor at 400 to 800 meter spacing, only H-11 intersected uranium mineralization with 0.11% U₃O₈ (977ppm U) over 0.1 m in the graphitic pelitic gneiss.

Millison Zone
Ten holes (ML-01 to ML-10) were drilled along the C-2 conductor in the Millison area. Weak uranium mineralization was intersected in hole ML-08 in a quartz mylonite with 0.022% U₃O₈ (195ppm U) over 1m. Weak mineralization was also intersected in hole ML-10 in a brecciated graphitic pelite with 0.024% U₃O₈ (205ppm U) over 0.3m. The presence of the quartz mylonite, strong alteration and tectonized graphite confirm the potential for uranium mineralization along the C-2 conductor.

2007/2008 Drill Program
A total of 5,375 m were drilled on conductors and structural targets on the Molly, DD, Rainbow and Millison/Romulus 1 zones. Assay results are pending.