Mr. Richard Mazur reports

FORUM INCREASES PRIVATE PLACEMENT TO $750,000

Due to strong response from investors, Forum Uranium Corp. has increased its non-brokered private-placement financing to $750,000 from the initially targeted $500,000 as set out in the company's news release dated Dec. 21, 2015. The amended financing will be completed through the issuance of a combination of flow-through units and non-flow-through units at a price of five cents per each flow-through unit and non-flow-through unit. Each flow-through unit will comprise one flow-through common share and one-half of one share purchase warrant. Each whole flow-through warrant is exercisable to purchase one common share of the company at a price of 10 cents per share for a period of two years from the date of closing of the financing. Each non-flow-through unit will comprise one common share and one share purchase warrant. Each non-flow-through warrant is exercisable to purchase one common share of the company at a price of 10 cents per share for a period of two years from the date of closing of the financing.

The private placement is subject to TSX Venture Exchange approval and all securities are subject to a four-month hold period. Finders' fees will be payable in connection with the private placement, all in accordance with the policies of the TSX-V.

The proceeds from this financing will be used for drilling at its 100-per-cent-owned Highrock and Highrock South projects nearby Cameco's Key Lake mine and mill; gravity and radon surveys at its 100-per-cent-owned Fir Island project as a follow-up from a successful drill campaign earlier in the year; and for working capital.