Forsys Metals Corp

Forsys Metals Corp

October 01, 2007 17:01 ET

Forsys Metals/Beta Minerals Securities Exchange Agreement Terminated

TORONTO, ONTARIO--(Marketwire - Oct. 1, 2007) - Further to the Forsys Metals Corp. ("Forsys") (TSX:FSY) press releases dated July 10, 2007 and July 30, 2007, Forsys announces the termination of the proposed securities exchange agreement (the "Transaction") with Beta Minerals Inc. ("Beta") The Transaction, which entailed a proposed spin-off of its wholly-owned subsidiary, Namibian Westport Ltd. ("Westport") to Beta has been terminated due to the fact that the completion of the Transaction did not occur on or before September 30, 2007.

The assets held by Westport, comprising non-uranium mineral properties all of which are located in Namibia, Africa will remain with Westport, a wholly-owned subsidiary of Forsys.

Shares Outstanding: 74,774,204

Contact Information