Mr. Pine van Wyk reports

FORSYS REPORTS ADDITIONAL INTERIM DRILLING RESULTS FROM NORASA

Forsys Metals Corp. has provided further interim drilling results from its 2024 resource extension and exploration drilling program from Valencia (ML 149) at the company's Norasa uranium project. The approximate 10,000-metre drilling program currently under way is designed to expand and upgrade the Valencia resources adjacent to the current main pit. Positive results, such as 210 parts per million U3O8 over a 253 m interval, including 16 m at 655 ppm U3O8 (VA24-022), indicated there is significant potential to further increase the resources and grades around the Valencia orebody.

Highlights

• At Valencia South, resource drilling intersected the widest grade interval of the program to date in drill hole VA24-022; returning an average of 210 ppm U3O8 over a 253 m interval, including 16 m at 655 ppm U3O8. Additionally, VA24-022 intersected 363 ppm eU3O8 over 43 m from 366 to 409 metres and VA24-023 intersected 213 ppm U3O8 over 53 m from 179 m depth to the end of the precollar at 232 m.
• At Valencia East, the best intersection was drill hole VA24-043 of 313 ppm U3O8 over 20 metres.
• Exploration drilling at Valencia West intersected 222 ppm eU3O8 over 34 metres from 76 m to 110 m depth in drill hole VA24-052.
• Exploration drill hole VA24-019 intersected 185 ppm U3O8 over 41 metres from one m to 42 m depth at the Jolie zone.
• At the Bundu zone, the best intersection was in drill hole VA24-056 of 198 ppm eU3O8 over 28 metres from one m to 29 m depth.

Pine van Wyk, Forsys country director, commented: "These high-grade intersections in the current drilling program demonstrate significant potential to further increase our resources and grades around the Valencia orebody. Multiple near-pit targets reported good grades that warrant follow-up work. The Valencia West extension in particular exhibits exciting potential to add substantial resource to the Valencia orebody and to enlarge the Valencia Main pit."

The drilling program strategy is to expand and upgrade the Valencia resources adjacent to the current main pit. Drilling aims to assess mineralization extension potential at two targets in the vicinity of the Valencia Main pit and to test the potential of four targets to the north and east of the pit.

A total of 71 drill holes for 9,637 metres of combined percussion and diamond drilling have been scheduled for the resource drilling program. At the time of reporting, and as detailed in Table 1, a total of 6,776.46 metres have been completed in 58 drill holes since the drilling program commenced in February, 2024. To date, assays from 31 drill holes have been received and 6,332 down-hole metres have been surveyed with a gamma ray spectrometer. Assay results are quoted as U3O8, while calculated grades are denoted eU3O8.

Valencia Main pit extension and resource upgrade drilling

The resource extension drill program tested potential targets adjacent to the main pit:

• At the Valencia East deposit (located 500 m northeast of the main pit) seven holes were drilled to improve confidence within the existing resource. Scintillometer results have been received for all seven holes and assay results were obtained for VA24-043 with 313 ppm U3O8 over 20 metres from 70 m depth. These promising results suggest a potential increase in the resource grade and tonnage. A further nine drill holes were drilled into a newly identified extension at the northeast of the current deposit. Scintillometer results have been received for seven holes of these nine holes, with the best intersections in drill hole VA24-034 of 173 ppm eU3O8 over 47 metres from 10 m depth, including 364 ppm eU3O8 over 13 metres from 11 m to 24 m depth.
• Valencia West extension was tested with 27 drill holes. Initially 18 drill holes were drilled on 80 m spaced sections over a 900 m strike length. Nine infill holes were drilled immediately west of the Valencia Main pit. Down-hole scintillometer survey results were received from all of these drill holes. XRF assay results have also been received for these 24 holes at Valencia West. All returned positive confirmation of uranium mineralization. Drill hole VA24-052 intersected 222 ppm eU3O8 over 34 metres from 76 m to 110 m depth.
• Valencia South is a down-plunge extension to the main deposit being tested with a grid of six planned drill holes, of which VA24-022 and VA24-024 have been completed. XRF assay results report 210 ppm U3O8 over 253 m from surface to 253 m depth in drill hole VA24-022. This intersection enhances the current resource. From down-hole scintillometer results, drill hole VA24-022 intersected 363 ppm eU3O8 over 43 m from 366 to 409 metres. This intersection extends the resource at depth. VA24-023 intersected 213 ppm U3O8 over 53 m from 179 m depth to the end of the precollar at 232 m.

Valencia exploration drilling

The neighbouring exploration target drill program is planned to identify additional resource potential at the Jolie zone, Bundu and Valencia North.

• The Jolie zone occurs about 600 m north of the Valencia pit and to date three drill holes have been completed. Assay results from the initial three drill holes confirmed uranium mineralization with the best intersection in VA24-019 of 185 ppm U3O8 over 41 metres from one m to 42 m depth.
• Mineralized granite was discovered about one km northeast of the main pit in the area named the Bundu zone. Initially four exploration drill holes were drilled and followed up with three more drill holes. To date scintillometer results of three of the drill holes have been received with the best intersection of 198 ppm eU3O8 over 28 metres from one m to 29m in VA24-056.
• The Valencia North prospect is located about one km north of the Valencia pit and was tested with three drill holes. Assay results from all three drill holes confirm wide zones of uranium mineralization, with the best intersection of 117 ppm U3O8 over 98 metres in VN24-02.

QA/QC

Recent (2023 to 2024) sampling and assays

• Samples were taken from the diamond drill cores and RC chips for geochemical assay guided by the routine downhole radiometric probe results and sent to Trace Elements Analysis Laboratories Pty. Ltd. (TEA Labs) at Swakopmund, Namibia, for sample preparation and analyses by XRF. For internal quality control purposes TEA Labs has weekly round robins with independent laboratories at Rosh Pinah, Swakop Uranium and Langer Heinrich mines.
• Forsys employs a QA/QC program with certified reference materials (CRMs), blanks, coarse duplicates and pulp duplicates inserted into each batch of samples. The QA/QC insert rate comprises 4-per-cent CRMs using three CRM types with different grades of U3O8; 4-per-cent blanks and 8-per-cent to 10-per-cent duplicates. RC sample batches have three types of duplicates; a field duplicate split at the drill rig; a coarse duplicate split at prescribed intervals at the laboratory; and pulp duplicates, also split at the laboratory. Core samples only have coarse and pulp duplicates split at the laboratory.
• Four per cent of the samples sent to TEA Labs are sent for check analyses at SGS Laboratories (SGS) in South Africa, which serves as the independent accredited laboratory. The sample results are further validated by comparison with the radiometric scans.

External check assay laboratory

Four per cent of the samples sent to TEA Labs are sent for check analyses to SGS Laboratories (SGS) in South Africa; SGS which serves as the independent accredited laboratory. The sample results are further validated by comparison with the downhole radiometric scans.

Qualified persons statement for mineral resource

The information in this release that relates to the interim drilling results for the Norasa project is based on information compiled or reviewed by Dr. Guy Freemantle of The MSA Group Pty. Ltd., Johannesburg, South Africa. The MSA Group are independent consultants to the Norasa project, Namibia. Dr. Freemantle holds a bachelor of science in geology (2006) and doctor of philosophy in geology (2017) both at the University of the Witwatersrand. He is a member of the Society of Economic Geologists (892905); a fellow of the Geological Society of South Africa (965392); and is registered with SACNASP (registration 117527). Dr. Freemantle has practised his profession continuously for 14 years and has sufficient experience and knowledge that is relevant to the style of mineralization and type of deposits under consideration as well as to the activity that is being undertaken to fulfil requirements of a qualified person as per National Instrument 43-101. Dr. Freemantle consents to this release in the form and context in which it appears.

About Forsys Metals Corp.

Forsys Metals is an emerging uranium developer focused on advancing its wholly owned Norasa uranium project, located in the politically and uranium-friendly jurisdiction of Namibia, Africa. The Norasa uranium project comprised the Valencia uranium deposit (ML-149) and the nearby Namibplaas uranium deposit (EPL-3638).

We seek Safe Harbor.