Forum Energy Metals Corp. announce that it has completed seven holes for 2,031 metres on its 100% owned Wollaston Lake Projected located 10 km southeast of Cameco's Rabbit Lake mill and 30 km southeast of Orano/Dennison's McClean Lake mill. A total of 4,573 stations at 100 metre by 100 metre spacings were collected this past winter over an area of 67.2 km2.

Fourteen new gravity anomalies have been identified, many of which are associated with coincident moderate to strong EM conductors, which require follow-up. Gizmo Trend Follow-up New drilling along the Gizmo trend has identified a graphitic pelite with a weak brittle overprint below the main elevated radioactivity, which may be the controlling structure that led to the weak uranium mineralization up to 1960 ppm U identified earlier in 2022. New assay samples from the 2022/2023 winter drilling program have returned additional elevated U values between 95 and 444 ppm with coincident elevated Boron up to 900 ppm and weak to moderate clay alteration adjacent to these discreet brittle fault structures.

Follow-up of this structure will be a focus in future drilling programs along trend where a newly identified strong gravity low (750 m long) to the east is coincident with this prospective and uranium fertile structure/conductor system. This anomaly was not tested this winter due to terrain challenges getting into the area and will have to drilled using a helicopter-supported program. New Trends Additional high-priority conductors (A1, B1, B2 and B3) with coincident gravity anomalies have been identified.

Along the A1 conductor historical drilling intersected several m-scale, moderately to strongly graphitic and pyritic zones with intervals of brecciation and moderate clay alteration. Weak elevated radioactivity is observed over 2.7 kilometres within and adjacent to these graphitic fault structures. Historical drill testing was largely widely spaced (~400 to 900 m) and was drilled at moderate angles to less than 100 metres depth.

Additional investigation is warranted over the A1 conductor. Three additional conductive splays branch off the main A1 trend and coincide a new gravity anomaly as well. The B1, B2 and B3 conductors are along the southern shore of Hidden Bay and along Ashley Peninsula.

Historical, shallow depth and widely spaced drilling identified prospective conductive stratigraphy and one drill hole along the B1 conductor intersected elevated radioactivity (400 cps). Burman Island Located within the southern part of the Wollaston property is a prospective area that was initially explored due to numerous radioactive graphitic pelite and pegmatitic boulders being discovered on the island. Historical drilling by Wyoming Mineral Corp.

intersected elevated radioactivity in 17 of 19 drillholes and returned numerous shallow drill intercepts (<50 metres) up to 477 ppm U3O8. Two sub-parallel brecciated and sheared graphitic structures transect the area and require additional testing along strike and at depth. A new gravity anomaly along a sub-parallel conductor to the south of the island also warrants additional exploration.