October 14, 2008 13:16 ET
TORONTO, ONTARIO--(Marketwire - Oct. 14, 2008) - Forsys Metals Corp. (the "Company")(TSX:FSY)(FRANKFURT:F2T)(NSX:FSY) announces that it is in exclusive negotiations with respect to a potential sale of the Company. No assurance can be given that the negotiations will be successful. Further comments or announcements will be made by the Company as circumstances warrant.
The Company has retained CIBC World Markets Inc. as its financial advisor in connection with this process.
About Forsys Metals Corp
Forsys Metals Corp, having BEE sponsorship, is an emerging uranium producer with 100% ownership in the Valencia Uranium Deposit, which recently received its Mining Licence (ML 149). The Company also has an extensive portfolio of uranium exploration projects totaling over 252,000 ha located in Namibia, Africa a politically-stable, mining friendly jurisdiction. The Company is currently conducting additional drilling of the Valencia Uranium Deposit and expects to deliver a resource upgrade shortly.
On Behalf of the Board of Directors of Forsys Metals Corp
Duane Parnham, President and CEO
For further information visit our website at www.forsysmetals.com.
Sedar Profile #00008536
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: 77,170,231
The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
Forsys Metals Corp.Bruce HallChief Communications Officer(905) 844-4646Email: firstname.lastname@example.orgWebsite: www.forsysmetals.comorIn Namibia+264 61 219 462Email: email@example.com
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