Forsys Metals Announces Non-Brokered Private Placement Update

TORONTO, ONTARIO--(Marketwired - Sept. 14, 2015) - Forsys Metals Corp. (TSX:FSY)(FRANKFURT:F2T)(NAMIBIAN:FSY) ("Forsys" or the "Company") is pleased to report that further to its announcement on August 8 2015, it intends to raise up to C$2.35m in gross proceeds by way of a non-brokered private placement. As a result of market conditions, the Company has revised the terms of the financing so that up to 19.6m units ("the Units") in the Company at a subscription price of $0.12 per Unit are being offered.

Each Unit will consist of one Class A Common Share ("Common Share") and one half of one Common Share purchase warrant that entitles the holder to acquire a new Common Share in Forsys at a price of $0.24 for a period of two years from the date of issue.

Proceeds from the private placement will be used to fund the Norasa Uranium project in Namibia, as well as for general working capital purposes.

Forsys has received a firm commitment from Leo Fund Managers Limited ("Leo"), the Company's largest shareholder, whereby Leo will subscribe on behalf of certain of its funds for 7.95 million Units for gross proceeds of C$0.95m. Forsys Chief Executive Officer Marcel Hilmer said, "A further investment in the Company by Leo, a leading European financial services company based in London, demonstrates a continuing commitment by Leo to the Company specifically and the uranium industry in general."

The Offering is expected to close on or about October 9, 2015. All securities issued through the private placement will be subject to a four-month and one-day hold period from the date of the closing. Completion of the private placement is subject to customary approvals and conditions. Finders' fees may be payable on a portion of the non-brokered placement.

About Forsys Metals Corp.

Forsys Metals Corp. is an emerging uranium producer with 100% ownership of the Norasa project that comprises the fully permitted Valencia uranium project and the Namibplaas uranium project in Namibia, Africa a politically stable and mining friendly jurisdiction. Information regarding current National Instrument 43-101 compliant Resource and Reserves at Valencia and Namibplaas and the March 2015 Definitive Feasibility Study are available on the Company website. Shares outstanding: 119.3M

On behalf of the Board of Directors of Forsys Metals Corp.

Marcel Hilmer, Chief Executive Officer

Forward-Looking Information

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 Company. The following are important factors that could cause Forsys actual results to differ materially from those expressed or implied by such forward looking statements: fluctuations in uranium prices and currency exchange rates; uncertainties relating to interpretation of drill results and the geology; continuity and grade of mineral deposits; uncertainty of estimates of capital and operating costs; recovery rates, production estimates and estimated economic return; general market conditions; the uncertainty of future profitability; and the uncertainty of access to additional capital. Full description of these risks can be found in Forsys Annual Information Form available on the Company's profile on the SEDAR website at www.sedar.com. These risks and uncertainties could cause actual results and the Company'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 Company assumes no obligation to update forward-looking information should circumstance's or management's estimates or opinions change.

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

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