Vancouver, British Columbia--(Newsfile Corp. - November 26, 2021) - Forum Energy Metals Corp. (TSXV: FMC) (OTCQB: FDCFF) ("Forum" or "Company") announces the final set of assay results from Rio Tinto Exploration Canada's ("Rio Tinto" or "RTEC") summer drill program at the Rafuse target on Forum's 100% owned Janice Lake copper/silver project in Saskatchewan (Figure 1).

RTEC reports that it has spent $14 million in exploration expenditures to date, which exceeds the $10 million required to earn a 51% interest in the Janice Lake project. Rio Tinto does not plan an exploration program for the 2022 budget year. A $100,000 cash payment to Forum is due on or before May, 2022 to complete its 51% earn-in obligation.

Rick Mazur, President & CEO reports, "Rio Tinto's $14 million in drilling and regional exploration has added tremendous value to the Janice Lake project, most notably at the Janice and Jansem targets where drilling has significantly expanded high grade copper mineralization. Forum's diversified energy metals portfolio will focus on our extensive uranium property portfolio in Q1 2022, including plans to begin drilling at our 100% owned Wollaston uranium property nearby the Orano and Cameco uranium mills in the eastern Athabasca Basin."

Exploration Summary

To date, RTEC has drilled thirty-nine holes on the property totalling 10,033 metres on four targets- Jansem, Janice, Kaz and Rafuse. Drill results on the Rafuse target are shown in Table 1 and Table 2. In addition, extensive geophysical, geochemical and geological surveys over the 52 km extent of the Wollaston Sedimentary Copperbelt has identified new areas for potential copper mineralization. Prospecting has identified copper boulders as high as 3.8% copper and 3.7 g/t silver, 25 to 30 kilometres to the southwest of the Janice and Jansem targets (Figure 2).

Results from the last five holes on the Rafuse target are:

JANL0035 - Nil
JANL0036 - Nil
JANL0037 -0.15% Cu and 1.63 g/t Ag and 0.41% Pb over 42.25 metres from 221.25m to 263.5m, including 0.19% Cu and 1.94 g/t Ag and 0.51% Pb over 30.9 metres from 232.6m to 263.5m.
JANL0038 - 0.16% Cu and 2.77 g/t Ag and 0.18% Pb over 15.4 metres from 95.6m to 111m, including 0.25% Cu and 4.93 g/t Ag and 0.34% Pb over 7.5m from 95.6m to 103.1m, 0.19% Pb over 1.37 metres from 134.8m to 135.75m, 1.09 g/t Ag and 0.43% Pb over 1.2 metres from 157.8m to 159m
JANL0039 - 1.28 g/t Ag and 0.14% Pb over 2.6 metres from 154.2m to 156.8m
Hole JANL0028 drilled in the winter program intersected 0.86% copper and 8.02 g/t silver over 14 metres from 246m to 260m, including 6m of 1.67% copper and 13.6 g/t silver from 254.1 to 260.1m (see news release dated June 9, 2021). Hole JANL0028, JANL0032 and JANL0037 have intersected structurally controlled mineralization that is oxidized at depth.

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https://www.newsfilecorp.com/release/105201/Rio-Tinto-Reports-Final-Results-at-Rafuse-Target-Exploration-Update-at-Forums-Janice-Lake-CopperSilver-Project-Saskatchewan

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