Rio Tinto Commences Drilling at Forum’s Janice Lake Copper/Silver Project Saskatchewan (FMC:TSXV | FDCFF:US)

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Feb 16, 2021. Rio Tinto Exploration Canada (RTEC) has commenced drilling on Forum Energy Metals Corp.’s 100-per-cent-owned Janice Lake copper/silver project in Saskatchewan. Two drill rigs are initially testing the Rafuse target, a 2.8-kilometre-long priority target of surface copper mineralization that was developed during RTEC’s mapping, prospecting and geophysical program this past summer. It is clear that past historical drilling did not go deep enough nor far enough along strike to evaluate the possibility of multiple layers of shallow copper mineralization amenable to open-pit mining.

Drilling of nine holes at Rafuse in 1969 to a maximum depth of 62 metres returned up to 17 metres of 0.68 per cent copper and two holes drilled in 1993 by Noranda to a maximum depth of 128 metres returned 21.7 metres of 0.19 per cent copper (see news release dated Nov. 11, 2020). Two one-kilometre lines of an induced polarization (IP) survey conducted by RTEC over the Rafuse target this summer identified a strong chargeability anomaly starting at a depth of 130 metres. The first two holes are planned to test this IP chargeability anomaly.

The 110-kilometre winter haul road to the 80-person on-site drill camp has enabled delivery of the remaining required camp equipment and initial delivery of fuel on the 52 km long Janice Lake copper/silver property. Rio Tinto plans to focus initial drilling at the Rafuse target area, followed by potential drilling at the Jansem, Juno and Roberts showing areas that are easily accessible during the winter months. Drilling at Jansem would follow up on thick intervals of surface copper mineralization outlined by drilling in 2019 (up to 51.8 metres grading 0.57 per cent copper). Drilling at Juno and Roberts are follow-up targets from positive rotary air blast (RAB) drill results encountered during the past summer RAB drill program (up to 1.5 m of 0.62 per cent copper and 9.3 grams per tonne silver at Juno). For further details, see news releases dated Dec. 3, 2019, Nov. 11, 2020, and Nov. 18, 2020.

Ken Wheatley, PGeo, Forum’s vice-president of exploration and qualified person under National Instrument 43-101, has reviewed and approved the contents of this news release.

About Forum Energy Metals Corp.

Forum Energy Metals has three 100-per-cent-owned energy metal projects to be drilled in 2021 by the company and its major mining company partners Rio Tinto and Orano for copper/silver, uranium and nickel/platinum/palladium in Saskatchewan, Canada’s No. 1 rated mining province for exploration and development. In addition, Forum has a portfolio of seven drill-ready uranium projects and a strategic land position in the Idaho cobalt belt.

For investor contacts more information, please contact:
Kevin Shum
Investor Relations
647-725-3888 ext 702

Neither 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.

Certain statements in this News Release, which are not historical in nature, constitute “forward looking statements” within the meaning of that phrase under applicable Canadian securities law. These statements include, but are not limited to, statements or information concerning future work programs, results and timing of any work programs, the Company’s performance or events as of the date hereof. These statements reflect management’s current assumptions and expectations and by their nature are subject to certain underlying assumptions, known and unknown risks and uncertainties and other factors which may cause actual results, performance or events to be materially different from those expressed or implied by such forward looking statements. Those risks include the interpretation of drill results; the geology, grade and continuity of mineral deposits; the possibility that future exploration, development or mining results will not be consistent with our expectations; commodity and currency price fluctuation; failure to obtain adequate financing; regulatory, recovery rates, refinery costs, and other relevant conversion factors, permitting and licensing risks; general market and mining exploration risks and production and economic risks related to design and engineering, manufacturing, technological processes and test procedures and the risk that the project’s output will not be salable at a price that will cover the project’s operating and maintenance costs. Forward-looking statements should not be construed as investment advice. Readers should perform a detailed, independent investigation and analysis of the Company and are encouraged to seek independent professional advice before making any investment decision. Accordingly, readers should not place undue reliance on any forward-looking statement. Except as required by applicable securities laws, the Company disclaims any obligation to update or revise any forward looking statements to reflect events or changes in circumstances that occur after the date hereof.