Mr. Martin Rowley reports

FORSYS WELCOMES JOHN BORSHOFF AS CEO AND ANNOUNCES AGM VOTING RESULTS

Forsys Metals Corp. held its annual and special meeting of the company's shareholders, conducted virtually on July 31, 2026. All resolutions presented were approved by the company's shareholders.

Highlights:

• John Borshoff has been appointed as a director and the company's president and chief executive officer:
  • Mr. Borshoff is a highly experienced and successful uranium industry leader who will bring significant strength to the board and executive team.
  • His clear objective is to introduce and execute a strategy focused on growing the company into a global uranium enterprise
• Shareholders approved a change in the name of the company to Asarian Energy Ltd.

Shareholder resolutions considered

A total of 129,286,158 common shares, representing 52.83 per cent of the company`s issued and outstanding common shares, were voted in connection with the meeting. Shareholders voted in favour of the election of the five director nominees as shown in the attached table.

Shareholders also voted in favour of the other item of business considered at the meeting, being the appointment of RSM Canada LLP as the company's auditor, approval of a change in name to Asarian Energy, the approval of the granting of additional performance share units to Mr. Borshoff, the reapproval of the company's omnibus incentive plan, and the approval of an amendment to the unit restriction period applicable to performance share units and restricted share units under the omnibus incentive plan. The foregoing grant of performance share units, reapproval of the omnibus incentive plan and unit restriction period amendment remain subject to final Toronto Stock Exchange approval. Pursuant to Section 11.3 of National Instrument 51-102, the company filed a report of voting results on July 31, 2026, under the company's filings on SEDAR+.

Appointment of president/CEO

The board of directors of Forsys welcomes Mr. Borshoff as CEO, president and executive director. As a highly regarded leader in the industry and one of the world's most experienced uranium mining executives, Mr. Borshoff has spent more than 50 years building uranium companies from exploration through development to production, creating successful mining operations and earning global recognition for achievements that have helped shape the modern uranium industry. The board looks forward to benefitting from his expertise and deep understanding of the uranium supply sector as he builds a proven team capable of implementing and executing a value creation strategy centred on asset optimization with the concurrent evaluation for strategic mergers and acquisitions. The company's goal is to now build a diverse project pipeline of development and production options in a resource-constrained uranium market experiencing rising global energy demand and future uranium supply shortage.

Mr. Borshoff commented: "I feel very honored to have been formally accepted by the shareholders as the company's president and CEO. I am excited about the growth possibilities for Forsys, soon to become Asarian Energy, working in this exceptional energy transition environment where nuclear is going to become increasingly important in satisfying the almost insatiable need for more power. After my unique successes with Paladin and Deep Yellow, and a highly credentialled team with me, I feel confident what can be achieved with Forsys, with the timing perfect to transform this company into something major by exploiting the rare opportunities for growth that are available and above all else having the wherewithal to deliver.

"It is worth repeating what was stated in the June 15, 2026, announcement; my ambition is to position Forsys at the forefront by establishing a multiple project portfolio to meet the demands of a sector that is facing anticipated supply challenges and I look forward to working closely with the board, shareholders and employees to realize this ambition."

Other board changes

As announced on June 15, 2026, Jorge Estepa and Stefano Roma retired from the board with effect from the meeting. The board expresses its sincere thanks and appreciation to both Mr. Estepa and Mr. Roma for their service as members of the company's board of directors. Mr. Estepa remains the company's corporate secretary.

Name change to Asarian Energy

The company is proceeding with the regulatory and required filings in order to change its name to Asarian Energy and subsequent to completion of the necessary filings will commence trading under its new symbol ARN.

About Forsys Metals Corp.

Forsys Metals is now operating under a new leadership and management structure with a three-pillared growth strategy in place to move forward. This strategy is centred around asset optimization, seeking new projects to acquire and building a proven team capable of converting vision into reality with effective execution.

The objective is for Forsys to become a globally significant uranium producer focusing both on advancing its wholly owned Norasa uranium project, located in the politically and uranium-friendly jurisdiction of Namibia, Africa, and expanding the company's project footprint to attain a multijurisdiction status through merger and acquisition effort, alliance development, and joint ventures.

We seek Safe Harbor.