Forum Uranium Corp. (TSXV:FDC) entered into a Purchase and Sale Agreement with Anthem Resources Ltd. to for a 100% interest in the Fir Island on the northeast margin of the Athabasca Basin in Saskatchewan.
As quoted in the press release:
Under the terms of the Agreement, Forum will acquire a 100% interest for 300,000 common shares and a 1.5% Net Smelter Royalty with a 1% buyback provision for $1 million.
Highlights of the Fir Island Project:
- Highly prospective near-drill ready project with shallow uranium targets identified by a number of geophysical and geochemical surveys conducted by Anthem
- Property lies directly on a major structure: the Black Lake Shear Zone (BLSZ) immediately adjacent to the Nisto mine (96 tonnes mined at 1.38% U), evidence that the BLSZ is fertile
- Shallow to no sandstone cover; road access within 2 km