Forum Acquires Former Cameco Uranium Deposits on Trend from Orano’s 133 Million Pound Kiggavik Uranium Deposit, Nunavut

Vancouver, British Columbia–(Newsfile Corp. – February 1, 2022) – Forum Energy Metals Corp. (TSXV: FMC) (OTCQB: FDCFF) (“Forum” or “the Company”) is pleased to announce that it has acquired by staking 40 claims totalling 53,402 hectares of ground formerly held by Cameco Corporation on trend with the 133 million pound Kiggavik uranium deposit (66.2% Orano, 16.9% Denison 16.9% UEX), one of the largest undeveloped uranium deposits in the world (Figure 1). From 2008 to 2012, Cameco drilled 135 holes for over 36,000 metres of drilling to the west of Kiggavik and discovered two uranium deposits – Tatiggaq and Qavvik and identified the Ayra showing which are now owned 100% by Forum.