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Forum Confirms 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".

Letters of transmittal describing the process by which shareholders may obtain new certificates representing their consolidated common shares will be mailed shortly to registered shareholders. Shareholders who hold their shares through a broker or other intermediary and do not have shares registered in their name will not be required to complete a letter of transmittal. No fractional shares will be issued under the share consolidation and any fraction will be rounded to the nearest whole number. The new CUSIP/ISIN numbers are 349852301/CA3498523016.

Following consolidation and subject to rounding, Forum will have issued and outstanding 10,652,364 common shares. All outstanding options and warrants of the Company will be adjusted accordingly to reflect the share consolidation.

About Forum Uranium

Forum Uranium Corp. is a Canadian-based energy company with a focus on the acquisition, exploration and development of Canadian uranium and rare earth 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 and the Thelon Basin, Nunavut by exploring on its 100% owned properties and through strategic partnerships and joint ventures. The Company is also evaluating North American rare earth prospects in Quebec and Nunavut.

ON BEHALF OF THE BOARD

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.

Contacts:
Forum Uranium Corp.
Rick Mazur
President & CEO
604-630-1585

Forum Uranium Corp.
Matt Terriss
Director, Corporate Affairs
604-638-3947
www.forumuranium.com

CHF Investor Relations
Robin Cook
Senior Account Manager
416-868-1079 x 228
robin@chfir.com

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