Forsys Metals Corp

Forsys Metals Corp

January 29, 2008 10:09 ET

Forsys Provides Joly Zone Update

TORONTO, ONTARIO--(Marketwire - Jan. 29, 2008) - Forsys Metals Corp ("Forsys" or the "Company")(TSX:FSY) is pleased to provide an update from the continued work performed at the Company's wholly-owned Joly Zone and the Valencia Uranium Deposit ("Valencia") located in Namibia, Africa.

Of significance, two weakly mineralized leucogranite (alaskite) sheets have been mapped and the radiometric results indicate that this broad mineralization extends north from the Valencia north pit wall (400m along side and 100 to 200m north of current pit wall). Work continues in this area with radiometric testing and channel sampling to prepare for shallow percussion drilling within the north part of the proposed Valencia pit boundary, where there has been no previous shallow drilling.

An extensive prospecting and trenching program was completed at the Joly Zone and over a thousand assay samples are pending. A follow-up drilling program is scheduled once these results have been received and incorporated into the Company's geological model for Valencia and the Joly Zone.

In addition, Mr. Guy Freemantle, M.Sc. from the University of Witwatersrand in Johannesburg, has been conducting studies on uranium mineralization at Valencia along with other uranium occurrences in Namibia. Working closely with Dr. Laine (Forsys Chief Geologist) his early work confirms that the anticline responsible for uranium mineralization at Valencia continues to the North and Northeast of the Valencia orebody. The biotite granites observed at the Joly Zone intrude the Khan, Rossing, Chuos and Karibib Formations, a sequence repeated at Valencia. Field evidence indicates that in the center of the Joly Zone basement granito-gneisses outcrops below the Damaran metasediments; as suspected by Dr. Laine, there is a biotitic alaskite (about 5% biotite) intruding all the other rocks throughout the Joly Zone. It is hypothesized that the biotitic alaskite is of the same age as the one at Valencia. Apophyses of this alaskite can be seen throughout the area and in the core and is suspected to be the major drive behind uranium mineralization.

Valencia has stepped up personnel on site for a major drill campaign that is now in progress. The Company contractors (Major Drilling) have moved a diamond drill rig on site to complete the last geotechnical drilling. This will be followed by a single deep drill hole where high grade deposits have been identified (refer to the Company's January 14, 2008 news release). Percussion drill rigs supplied by Roburgh Exploration will soon arrive at Valencia to commence with the 10,000 meter drilling plan designed to expand resources to the North, South and East as well as beyond the Main zone pit floor.

Dr. Roger Laine, Chief Geologist of Forsys, is the designated Qualified Person responsible for all of Forsys' exploration programs as well as the person responsible for the contents of this news release.

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

Duane Parnham, President and CEO

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