Forsys Metals Corp

Forsys Metals Corp

May 25, 2010 09:22 ET

Forsys Announces Changes to the Board of Directors

TORONTO, ONTARIO--(Marketwire - May 25, 2010) - Forsys Metals Corp ("Forsys" or the "Company") (TSX:FSY)(FRANKFURT:F2T) announces that at its annual meeting (the "Meeting") held in Vancouver, BC on May 21, 2010, Martin Rowley, Marcel Hilmer, Mark Frewin and Paul Matysek were re-elected as directors. Messrs Thomas I. A. Allen Q.C., Ricardo M. Campoy and Lodovico P. Simone were elected as directors of the Company on shareholders nomination at the Meeting. Messrs. Duane Parnham and Robert Buchan resigned as directors prior to the Meeting.

Mr. Allen is Counsel to Ogilvy Renault LLP, an international law firm based in Canada, and has extensive experience advising numerous corporations on corporate affairs, corporate governance, corporate financings and reorganizations and has participated in a variety of major transactions such as mergers, acquisitions and dispositions. Mr. Allen currently serves as a director of a number of companies including Thomas Weisel Partners Group, Mundoro Mining Inc., YM BioSciences Inc. and Middlefield Bancorp Limited. Mr. Allen is a Fellow of the Chartered Institute of Arbitrators (London, England). Throughout his career in law and in the investment banking industry, Mr. Allen has had a role in policy formulation. He was Chairman of the Allen Committee formed by The Toronto Stock Exchange to consider the timeliness and adequacy of corporate disclosure in Canada. He is also the past Chairman of the Accounting Standards Oversight Council of Canada and a former member of the Advisory Board of the Office of the Superintendent of Financial Institutions of Canada and past Chairman of the Corporate Finance Committee of the Investment Dealers Association of Canada ("IDA"), a former public director of the IDA, and a former member of the IDA's Executive Committee.

Mr. Campoy has 34 years of international experience as a mining engineer, merchant and investment banker and as a financial advisor. From 2004 to 2006 he was Managing Director and Head of the Mining and Metals Group for WestLB in New York. Before that he held several senior banking positions with McFarland Dewey & Co. LLC; ING Capital; Swiss Bank; and as President of specialized resources merchant bank, Elders Resources Finance Inc.; European Banking Company; and Continental Illinois National Bank. Mr. Campoy has served on a number of mining company boards and currently serves on the boards of General Moly Inc., Century Mining Corporation, and the US subsidiary of Bayswater Uranium Corporation. Mr. Campoy earned a Bachelor of Science degree in Mining Engineering at the Colorado School of Mines and a Master's of International Management (Finance) at the American Graduate School of International Management.

Mr. Simone's career has spanned some 27 years during which time he has gained a significant reputation as a seasoned Corporate Finance professional. Mr. Simone has focused his career in merger & acquisitions working with Bain & Co., Baring Brothers Hambrecht & Quist and with S.G.Warburg, at Partner and Managing Director level. More recently he has worked with JH Schroder and Soditic in Geneva and his latest role is as Senior Advisor with Leonardo & Co, in Paris, France. Mr. Simone was born in Turin in 1952, and educated at Harvard University in 1976, later qualifying in his MBA at IMEDE in 1982.

Chairman Martin Rowley commented, "On behalf of the Board and shareholders, I would like to sincerely thank Mr. Parnham for his invaluable contribution to Forsys, both as a director since 2004 and in his role as Chief Executive Officer until February 2010. The Company would also like to thank Mr. Buchan for his contributions while serving as a director of Forsys. On behalf of the Board I also welcome Mr. Allen, Mr. Campoy and Mr. Simone as non-executive directors of the Company."

About Forsys Metals Corp.

Forsys Metals Corp, having BEE sponsorship, is an emerging uranium producer with 100% ownership in the fully permitted Valencia uranium project. With an expanding reserve base, the Company is currently in the process of working with its financial advisors Morgan Stanley to review strategic options for the development of the Valencia uranium project. Current NI 43-101 compliant reserves at Valencia are 60.5 Mlbs U308 supporting a 17 year mine life and current Measured and Indicated resources are 75.5 Mlbs U308 with a further 8.4 Mlbs Inferred U308. The Company also has an extensive portfolio of uranium exploration projects totaling over 252,000 ha located in Namibia, Africa, a politically stable and mining friendly jurisdiction.

On Behalf of the Board of Directors of Forsys Metals Corp

Marcel Hilmer, CEO

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