Forsys Metals Corp.

Published : June 13th, 2008

Mineralization Expansion and Grade Improvement at Valencia-Forsys Triples Drill Program

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Forsys Metals Corp.
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June 13, 2008
Mineralization Expansion and Grade Improvement at Valencia-Forsys Triples Drill Program
TORONTO, ONTARIO--(Marketwire - June 13, 2008) - Forsys Metals Corp. ("Forsys" or the "Company") (TSX:FSY)(FRANKFURT:F2T)(NSX:FSY) is pleased to announce the second set of percussion drilling results from the 2008 exploration campaign at the Company's 100% owned Valencia Uranium Deposit ("Valencia"). Drilling in the Valencia Southwest Zone and Transition Zone has confirmed additional mineralization to further expand the Valencia resource.

The second set of drilling in the Southwest Zone and Transition Zone consisted of 15 additional vertical holes, bringing the total current drilling campaign to 26 holes, of which all show uranium mineralization.

Based on the excellent results received to date, the Company has approved an expansion of the drilling program from 10,000 m to 30,000 m.

Results to date demonstrate the following:

- Deposit expansion and grade improvement remains on track;

- The ore body shows good mineralization below the current pit "cone", opening the Valencia main ore body to the south, southwest and southeast and at depth;

- Due to higher uranium mineralization in PD-025, the ore body has potential to open towards the west;

- PD-031 is well mineralized, opening the deposit at depth towards the north;

- The ore body footprint at 325 m depth (380 m elevation) could have an east-west extension of 200 m wide by 300 m long as compared to the current pit bottom which is 45 m wide by 75 m long (June 2007 NI 43-101 Technical Report);

- Holes encountered weak mineralization with grade above cut-off (0.06 Kg/T U308) from surface to high grade deep sections, which should reduce stripping cost.

Selected higher grade results of the drilling in the Southwest Zone and the Transition Zone are shown in the tables below. Refer to the Company's website at for the complete set of results for all 15 drill holes.

                Table 1: Southwest Zone Highlights
               From        To            Interval              Grade
Hole             (m)       (m)                 (m)    (Kg/T eU3O8)(i)
PD-012        98.90    346.20              247.30              0.170
Including    274.50    346.00               71.50              0.256
PD-019       122.00    162.80               40.80              0.232
             267.00    341.70               73.90              0.250
PD-023       206.10    298.10               92.00              0.157
Including    206.10    238.80               32.70              0.208
PD-024        62.90    375.60              312.60              0.191
Including     62.90     95.00               32.10              0.288
Including     96.10    137.60               41.50              0.255
Including    204.30    223.10               18.80              0.297
Including    253.50    270.00               16.60              0.313
Including    310.70    319.20                8.50              0.320
PD-025       225.60    324.20               98.60              0.384
Including    225.60    295.50               69.90              0.474
Including    247.50    295.10               47.60              0.539

              Table 2: Transition Zone Highlights
               From        To            Interval              Grade
Hole             (m)       (m)                 (m)    (Kg/T eU3O8)(i)
PD-013         10.6     289.3               278.7              0.122
Including     61.80     81.50               19.70              0.319
Including    262.10    291.40               29.30              0.214
Including    324.10    346.60               22.50              0.200
PD-018       267.80    322.70               54.90              0.297
Including    269.60    300.80               31.20              0.381
PD-020         0.00     50.80               50.80              0.109
              51.50     58.80                7.30              0.847
              70.70    108.60               37.90              0.164
             110.60    169.70               59.10              0.204
             172.70    265.70               93.00              0.189
PD-022         4.50     66.70               62.20              0.177
              69.30    101.90               32.60              0.147
             132.00    189.50               57.50              0.145
             226.50    230.80                4.30              0.263
PD-026         9.60    140.00              130.40              0.194
             207.10    304.90               97.80              0.185
Including    253.00    292.60               39.60              0.229
PD-031       158.40    337.30              178.90              0.192
Including    161.20    199.20               38.00              0.203
Including    210.60    231.00               20.40              0.215
Including    239.40    244.90                5.50              0.222
             258.40    305.40               47.00              0.309
Including    264.70    292.00               27.30              0.425

(i) The results in this news release are reported as equivalent U308
    ("eU308"). The Company has calculated a correlation between grade
    thickness product of gamma counts (counts per second) collected by
    down hole geophysical methods and the grade thickness product of
    chemical assays from the Company's drill hole library (otherwise 
    known as GT Chem and GT Rad). That correlation has been established
    with over 100 GT intervals and is used to calculate eU308 in the
    percussion drill holes from gamma probe survey with a resulting
    correlation coefficient of 0.99 (estimation of confidence level).
Results from holes 21 and 27 through to 30 are pending, and will be reported in upcoming news releases.

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

Sedar Profile #00008536

Forward-Looking Information

This press release contains "forward-looking information" including statements and information regarding exploration results. Such forward-looking information reflects the current expectations or beliefs of the Company. Forward-looking information is subject to a number of risks, assumptions and uncertainties that may cause the actual results of the Company to differ materially from those discussed herein, including the possibility that future exploration results will not be consistent with the announced results or the Company's expectations, the resource/reserve and grade of the ore body may not be upgraded, the uncertainties involved in interpreting exploration results and other inherent risks in the mineral exploration and development industry. Such forward-looking information speaks only as of the date on which it is made and, unless required by applicable securities laws, the Company undertakes no obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise.

Shares Outstanding: 77,076,898

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


Forsys Metals Corp.
Bruce Hall
Chief Communications Officer
(905) 844-4646


In Namibia
Forsys Metals Corp.
+264 61 219 462

INDUSTRY: Manufacturing and Production - Mining and Metals



Forsys Metals Corp.

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$ 96.3 millions as of today (US$ 77.0 millions, € 67.4 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...
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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