Mr. Richard Mazur reports

FORUM ANNOUNCES $3 MILLION NON-BROKERED FLOW THROUGH SHARE PRIVATE PLACEMENT

Forum Energy Metals Corp. has arranged a non-brokered private placement of up to $3-million through the issuance of up to 22,222,222 flow-through (FT) shares at a price of 13.5 cents per FT share. Proceeds raised from the issuance of the FT Shares will be used by Forum to conduct a 2,000 metre drill program on its Nunavut Uranium Project in July, 2023 and mobilization of equipment and supplies in preparation for a 2024 drill program. Forum holds a 100% interest in 95,000 hectares of highly prospective ground for high grade, unconformity-style uranium deposits in the Thelon Basin, a geological analogue to the Athabasca Basin in Saskatchewan.

The private placement is subject to approval by the TSX Venture Exchange and all FT Shares are subject to a four-month hold period. Proceeds raised from the issuance of the FT Shares will be used by Forum to incur Canadian Exploration Expenses on its Canadian uranium and critical mineral properties in Nunavut and Saskatchewan and will be used for qualifying expenses for the critical mineral tax credit (CMETC). In addition, to the extent any expenditures are incurred in the Province of Saskatchewan, they will also qualify for the Saskatchewan mineral exploration tax credit.

About Forum Energy Metals

Forum Energy Metals Corp. (TSXV: FMC) (OTCQB: FDCFF) is a diversified energy metal company with uranium, copper, nickel, and cobalt projects in Saskatchewan, Canada's Number One Rated mining province for exploration and development, a strategic uranium land position in Nunavut and a strategic cobalt land position in the Idaho Cobalt Belt.

We seek Safe Harbor.