Forsys Metals Corp

Forsys Metals Corp

July 28, 2009 14:09 ET

Forsys Provides Update to GFI Transaction

TORONTO, ONTARIO--(Marketwire - July 28, 2009) - Forsys Metals Corp. (TSX:FSY)(FRANKFURT:F2T)(NSX:FSY) (the "Company") notes the recent movement in the price of the Company's common shares. The Company is in discussions with George Forrest International Afrique S.P.R.L. ("GFI") with a view to finalizing documentation and formalizing funding arrangements, but no assurance can yet be given that GFI will have sufficient funds in place before the extended due date of July 31, 2009 or that the previously announced plan of arrangement will be completed. Further announcements will be made as developments warrant.

On Behalf of the Board of Directors of Forsys Metals Corp

Duane Parnham, President and CEO

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This news release contains projections and forward looking information that involve various risks and uncertainties regarding future events. Such forward looking information can include without limitation statements based on current expectations involving a number of risks and uncertainties and are not guarantees of future performance of the Corporation. These risks and uncertainties could cause actual results and the Corporation's plans and objectives to differ materially from those expressed in the forward looking information. Actual results and future events could differ materially from anticipated in such information. These and all subsequent written and oral forward looking information are based on estimates and opinions of management on the dates they are made and expressed qualified in their entirety by this notice. The Corporation assumes no obligation to update forward looking information should circumstances or management's estimates or opinions change.

Shares Outstanding: 78,985,231

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

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