Forum Commences Airborne Magnetic Survey at its 100% Owned Love Lake Nickel-Copper-Platinum-Palladium-Gold Project, Saskatchewan

Forum Commences Airborne Magnetic Survey at its 100% Owned Love Lake Nickel-Copper-Platinum-Palladium-Gold Project, Saskatchewan

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Vancouver, British Columbia–(Newsfile Corp. – July 27, 2020) – Forum Energy Metals Corp. (TSXV: FMC) is pleased to announce that it has commenced a high resolution airborne magnetic survey over its 100% owned Love Lake Nickel-Copper-PGM project, located approximately 60 km northeast of Forum’s Janice Lake/Rio Tinto copper joint venture in north-eastern Saskatchewan along Highway 905 to the Rabbit Lake Mine. The Love Lake project covers 30,836 ha of mafic-intrusive rocks in the Peter Lake Domain with historic occurrences of nickel, copper, platinum, palladium and gold (Figure 1).

Forum has contracted SHA Geophysics Heli-GT system that measures the earths’ magnetic gradient in two horizontal directions as well as in a vertical direction, providing an accurate measurement of the magnetics with only minimal noise. Approximately 3,500 line kilometres will be surveyed on a 100m line spacing, covering the majority of the Love Lake project, and the survey should take approximately 10 days to complete. Drill targets defined by the airborne survey will be followed up by ground mapping/sampling this summer and electromagnetic surveys this fall/winter.

LOVE LAKE NICKEL-COPPER-PLATINUM-PALLADIUM-GOLD PROJECT

The property is prospective for Nickel-Copper massive sulphide deposits in feeder zones (Voisey’s Bay, Chalice Gold), Lac de Iles-type structural platinum/palladium deposits and reef-type platinum/palladium deposits. The Ni-Cu-PGM occurrences are associated with the Love Lake gabbroic pluton within the 2.5 billion year old Swan River mafic complex in the Peter Lake Domain. Forum staked a 20 km by 12 km area of historic copper- nickel platinum group metal showings. Grab samples in Trench #4 in the What Lake area returned 0.33% Cu, 1.33% Ni, 2.73 g/t platinum, 2.68 g/t palladium, 70 ppb gold and 0.43%Cu, 0.23% Ni, 3.58 g/t platinum, 4.27 g/t palladium, 200 ppb gold.

An area 3km to the southwest of the What Lake occurrence discovered copper mineralization by trenching over a 1.4 kilometre strike length. Two holes drilled in 1968, 68-10 and 11, returned 31.7m of 0.23% copper and 36.6m of 0.29% copper respectively and have never been followed up.

Figure 1: Simplified Geology Map

The Love Lake Pluton is part of the Swan Lake Complex, which hosts PGM showings over a 150km trend. Forum staked all known showings in the area of the highway to the Rabbit Lake/McClean Lake mine and mills which runs through the project, allowing for easy access. The yellow dashed line shows the limit of the airborne mag survey.

Ken Wheatley, P.Geo. and Forum’s VP, Exploration and a Qualified Person under National Instrument 43-101, has reviewed and approved the contents of this news release.

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