Forsys Metals Corp

Forsys Metals Corp

August 18, 2009 12:02 ET

Forsys Plan of Arrangement Update

TORONTO, ONTARIO--(Marketwire - Aug. 18, 2009) - Forsys Metals Corp ("Forsys" or the "Company")(TSX:FSY)(FRANKFURT:F2T)(NSX:FSY) provides an update to the Company's news release dated August 4, 2009 which indicated that completion of the plan of arrangement with George Forrest International S.P.R.L ("GFI") was anticipated to occur on or about Monday August 17, 2009. GFI has advised Forsys that they are still attending to issues relating to the transfer of funds necessary to complete the plan of arrangement and accordingly have requested a further extension of time.

Forsys confirms that the arrangement agreement will stay in force for at least a further four days pending receipt of these funds from GFI. GFI has informed Forsys that it is now anticipated that receipt of the funds into the depositary will be confirmed on or before Monday August 24, 2009. A further news release will be issued immediately following this event outlining the remaining steps to complete the plan of arrangement.

On Behalf of the Board of Directors of Forsys Metals Corp

Duane Parnham, President and CEO

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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 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.

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