Forsys Metals Corp.

Published : June 27th, 2008

Clarifying Press Release-Mineral Resource and Mineral Reserve Disclos

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Keywords :   Namibia | Uranium |

June 27, 2008
Forsys Metals Corp.: Clarifying Press Release-Mineral Resource and Mineral Reserve Disclosure
TORONTO, ONTARIO--(Marketwire - June 27, 2008) - The Corporate Finance Branch of the Ontario Securities Commission ("OSC") recently selected Forsys Metals Corp. ("Forsys" or the "Company") (TSX:FSY) (FRANKFURT:F2T) (NSX:FSY) for a review of its continuous disclosure record. As part of this review, the Company has been requested to issue a press release in respect of its previous disclosures of the mineral reserves and mineral resources and contained metal in respect of its 100% owned Valencia Uranium Project ("Valencia") in Namibia, Africa. The Company has now revised certain sections of the Company's website to ensure that the Company's disclosure of the measured and indicated resources and contained metal does not include inferred resources in order to comply with the requirements of section 2.2(C) of NI 43-101.

The Company hereby confirms that its mineral resources and mineral reserves at Valencia are as set out in the following excerpt taken from the June 2007 NI 43-101 Technical Report prepared by Snowden Mining Industry Consultants (Pty) Limited and filed on SEDAR at www.sedar.com on June 28, 2007.

   Table 1 - Summary of Valencia Uranium Mineral Resource (i), June 2007
---------------------------------------------------------------------------
---------------------------------------------------------------------------
Category             Cut-off U308       Tonnes       U308             U308
                            (kg/t)          (M)     (kg/t)           (Mlbs)
---------------------------------------------------------------------------
Measured                     0.06         18.2       0.14              5.6
Indicated                    0.06        146.0       0.11             35.8
---------------------------------------------------------------------------
Total Measured and
 Indicated                   0.06        164.2       0.11             41.4
Inferred                     0.06         92.4       0.10             20.7
---------------------------------------------------------------------------
---------------------------------------------------------------------------
(i)All tabulated data has been rounded to one decimal place for tonnage
   and two decimal places for U308 grades.



   Table 2 - Summary of Valencia Uranium Reserve, June 2007
---------------------------------------------------------------------------
---------------------------------------------------------------------------
Category             Cut-off U308       Tonnes       U308       U308 metal
                            (kg/t)          (M)     (kg/t)         (tonnes)
---------------------------------------------------------------------------
Measured                     0.06         16.9       0.14            2,400
Indicated                    0.06         99.9       0.12           11,600
---------------------------------------------------------------------------
Probable                     0.06          117       0.12           13,900
---------------------------------------------------------------------------
---------------------------------------------------------------------------
 
Any reference to "potentially mineable material" and "mineable reserves" that was not in accordance with the requirements of section 2.2(a) and section 2.2(b) of NI 43-101 has been removed from the Company's website.

Dr. Roger Laine, Chief Geologist of Forsys, is the designated Qualified Person responsible for all of Forsys' exploration programs as well as the person responsible for the contents of this news release.

On Behalf of the Board of Directors of Forsys Metals Corp.

Duane Parnham, President and CEO

For further information visit our web site at www.forsysmetals.com

Sedar Profile #00008536

Shares Outstanding: 77,085,231


The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

CONTACT INFORMATION:

Forsys Metals Corp.
Bruce Hall
Chief Communications Officer
(905) 844 4646
Email: bhall@forsysmetals.com

or

In Namibia:
Forsys Metals Corp.
+264 61 219 462
Email: wrn@forsysmetals.com
Website: www.forsysmetals.com

INDUSTRY: Manufacturing and Production - Mining and Metals

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Forsys Metals Corp.

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CODE : FSY.TO
ISIN : CA34660G1046
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Forsys Metals is a zinc and copper exploration company based in Canada.

Forsys Metals develops zinc, copper and uranium in Namibia, and holds various exploration projects in Namibia.

Its main asset in development is VALENCIA URANIUM in Namibia and its main exploration properties are OMARURU, ELBE PROJECT, ONDUNDU and NAMIBPLAAS in Namibia.

Forsys Metals is listed in Canada, in Germany and in United States of America. Its market capitalisation is CA$ 80.3 millions as of today (US$ 64.2 millions, € 56.2 millions).

Its stock quote reached its highest recent level on April 20, 2007 at CA$ 9.94, and its lowest recent point on June 30, 2016 at CA$ 0.05.

Forsys Metals has 145 910 000 shares outstanding.

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Annual reports of Forsys Metals Corp.
2008 Annual Report
Annual Report 2007
Financings of Forsys Metals Corp.
11/28/2011Announces Completion of Private Placement
Nominations of Forsys Metals Corp.
8/15/2012Appoints Martin Hirsch as Chief Geologist
6/11/2012Appoints Director Finance and Establishes Office in Perth
7/28/2008Appoints Valencia General Manager
3/7/2008Appoints New Chief Financial Officer
Financials of Forsys Metals Corp.
8/15/2011Announces Second Quarter 2011 Financial and Operational Resu...
Project news of Forsys Metals Corp.
9/28/2012(Namibplaas)Announces: Updated Namibplaas Resource
3/26/2012(Namibplaas)Completes Acquisition of Remaining 30% Interest in Namibplaa...
2/1/2012(Ondundu)to Retain Control of The Ondundu Gold Project
10/24/2011(Namibplaas)Announces Agreement to Acquire Remaining 30% of Namibplaas U...
2/2/2011(Namibplaas)Announces Additional Positive Namibplaas Drilling Results an...
3/31/2010(Ondundu)TECHNICAL REPORT ON THE ONDUNDU GOLD PROJECT EPL3195, NAMIB...
8/21/2008(Valencia Uranium)Valencia Uranium Project, Namibia Mining Licence Granted
8/6/2008(Valencia Uranium) Confirms Deeper Uranium Mineralization at Valencia
7/22/2008(Valencia Uranium) Continues Drilling at Valencia Expanding Pit Bottom and Ove...
6/27/2008(Valencia Uranium) Adds Fourth Drill Rig to Test North Anomaly at Valencia
6/13/2008(Valencia Uranium)Mineralization Expansion and Grade Improvement at Valencia-F...
6/4/2008(Valencia Uranium)Receives Environmental Clearance for Valencia
4/29/2008(Valencia Uranium) Expands Uranium Zones at Valencia
4/1/2008(Ondundu)Increases Ownership of Ondundu Gold Project in Namibia to 90...
2/13/2008(Valencia Uranium)Announces Joly Zone Trenching Results
1/29/2008(Valencia Uranium) Provides Joly Zone Update
1/14/2008(Valencia Uranium)Reports Drilling Results and Resumes Drilling at Valencia
3/26/2007(Valencia Uranium)Significant Increase for the Valencia Uranium Resource
Corporate news of Forsys Metals Corp.
9/14/2015Forsys Metals Announces Non-Brokered Private Placement Updat...
8/12/2015Forsys Metals Announces Non-Brokered Private Placement
3/18/2015Forsys Releases Feasibility Study Results for Norasa Uranium...
11/26/2014Forsys Provides Norasa Uranium Project Feasibility Study Upd...
10/29/2014Forsys Closes $2.4 Million Private Placement
10/9/2014Forsys Provides Update on Private Placement & Progress on th...
7/7/2014Forsys Metals Initiates Feasibility Study for Norasa Uranium...
5/23/2014Forsys Announces Annual and Special Meeting Voting Results
3/27/2014Forsys Files Updated NI 43-101 Technical Report on Norasa Ur...
3/20/2014Forsys Adopts Advance Notice Policy for Director Nominations...
10/7/2013Provides Updated Mineral Resource Estimate for Its Norasa Ur...
5/2/2013(Valencia Uranium)Announces Results of Positive Engineering Cost Study for Its...
3/19/2013Reports Positive Exploration Drilling Results and Confirms H...
1/23/2013Significant New Exploration Results at Recently Discovered V...
1/26/2012(Namibplaas)Announces Additional High Grade Zones from Namibplaas Phase ...
10/5/2011Enters Into Share Subscription Agreement to Raise C$8,000,00...
9/15/2011(Namibplaas)Announces Maiden Resource Statement Namibplaas Project-Namib...
8/10/2011Announces Up to 92% Recoveries from Heap Leach Laboratory Te...
7/11/2011(Namibplaas)Announces Discovery of Extensive High Grade Zones From Ongoi...
5/15/2011Proposed Changes to Namibian Mineral Policy Will Not Affect ...
3/3/2011Announces Settlement Agreement With GFI and George Forrest
12/11/2008Corporate Quarterly Update
11/14/2008George Forrest International Afrique S.P.R.L. to Acquire For...
9/16/2008Corporate Quarterly Update
6/27/2008Clarifying Press Release-Mineral Resource and Mineral Reserv...
6/16/2008Corporate Quarterly Update
4/23/2008Clarifies Uranium Project on Track
4/11/2008Namibia to Build Second Desalination Plant for Uranium Mines
3/6/2008Prepares for Contract Mining at Valencia
2/25/2008Receives Water Permits
2/6/2008Uranium Exploration Licences Renewed
3/23/2007Completes Acquisition of Remaining 10% of Valencia Uranium D...
2/28/2007Completes $47.5 Million Financing
2/26/2007Acquires 70% of Ancash Investments and 5 Additional Uranium ...
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