Mr. Martin Rowley reports

FORSYS ANNOUNCES CHANGES TO ITS BOARD OF DIRECTORS AND NON-BROKERED PRIVATE PLACEMENT

Forsys Metals Corp. has appointed Stefano Roma as a member of the board of directors of the company, effective immediately, following the resignation of Richard Parkhouse as a member of the board of directors. The company intends to raise up to $5.28-million in gross proceeds by way of a non-brokered private placement of up to 10.56 million units at a subscription price of 50 cents per unit.

Changes to board of directors

Mr. Roma is joining the board of directors, effective immediately.

Mr. Roma has managed and directed the largest shareholding in Forsys during the past 15 years through various funds and trading entities. Currently, Mr. Roma has beneficial ownership of 60 million shares (approximately 30 per cent) through indirect ownership of his trading company, which remains the largest shareholder in Forsys.

Mr. Roma began his career as an auditor with Arthur Andersen, Italy, after which he worked for a number of leading Italian stock brokers. In 1996, he became head of equity trading, sales and research at ABN-AMRO Milan. In July, 1999, he launched Leonardo Capital Fund Ltd., an event-driven long-short equity fund and subsequently founded and led Leo Fund Managers Ltd., a United Kingdom FCA (Financial Conduct Authority) regulated asset manager. In 2016, he sold Leo Fund Managers and since then has been managing his own family office and trading companies. Mr. Roma has a degree in economics from University La Sapienza in Rome, where he attained the distinction known as 110 lode, the highest grade that a student can earn while enrolled at an Italian university, and earned a master's degree in financial markets from SDA Bocconi in Milan.

'We are pleased to welcome Mr. Roma to our board," said Forsys chairman Martin Rowley. "His long-standing commitment and support of the company, combined with his valuable knowledge and experience in all aspects of the capital markets, will provide additional benefits to the board and company as it continues to advance its Norasa uranium project."

In addition, Mr. Parkhouse has tendered his resignation as a member of the board of directors. The board of directors would like to thank Mr. Parkhouse for his valuable contribution while an executive director of the company. Mr. Parkhouse will remain part of the management team at Forsys responsible for investor relations.

Private placement

The company intends to raise up to $5.28-million in gross proceeds by way of a non-brokered private placement of up to 10.56 million units at a subscription price of 50 cents per unit.

Each unit will consist of one Class A common share and one common share purchase warrant, with each warrant entitling the holder to purchase one additional common share at a price of 75 cents per common share for a period of 24 months from issuance.

Participation in the private placement will be taken up in its entirety by Forsys management and members of the board of directors. The issuance of units to insiders pursuant to the private placement constitutes a related party transaction within the meaning of Multilateral Instrument 61-101, Protection of Minority Security Holders in Special Transactions. The company relies on exemptions from the formal valuation and minority shareholder approval requirements provided under sections 5.5(a) and 5.7(1)(a) of MI 61-101 on the basis that participation in the private placement by insiders will not exceed 25 per cent of the fair market value of the company's market capitalization. The company will file a material change report in respect of the related party transactions in connection with the private placement.

All securities issued as part of the private placement will be subject to a four-month-and-one-day hold period from the date of issuance.

The proceeds from the private placement will be used to continue to finance the Norasa uranium project in Namibia and for general working capital purposes.

Completion of the private placement is subject to customary approvals and conditions, including approval and acceptance by the Toronto Stock Exchange.

About Forsys Metals Corp.

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

We seek Safe Harbor.