Forsys Metals Corp

Forsys Metals Corp

April 03, 2006 09:00 ET

Forsys Reports Progress at Ondundu Gold Project

TORONTO, ONTARIO--(CCNMatthews - April 3, 2006) - Forsys Metals Corp (TSX VENTURE:FSY) (the "Company") is pleased to report progress on its Ondundu Gold Project ("Ondundu") in Namibia, Africa, a project being explored concurrently with its Namibian Valencia Uranium Project.

Drilling of the first five holes of the planned ten hole / 440m core drilling program at Ondundu has been completed. This drill program represents the first phase of a three phase program to define a near-surface resource for initial open-pit production.

"Given the current state of global commodity markets and more specifically the cyclical bull market in uranium and gold, Forsys has the ability to create shareholder value by bringing into production two advanced deposits in Namibia. Our determined focus will continue to move the Valencia Uranium Project into a bankable feasibility decision while at the same time to evaluate Ondundu as small scale producing gold project", stated Duane Parnham, Chairman and CEO.

Following on from successful orientation stream sediment sampling programs, in which values of up to 2.5g/t Au were returned, regional stream sediment sampling of the entire Ondundu exclusive prospecting area EPL 3195 has now been completed. Samples are being prepared for gold and multi-element analyses and results are expected to define additional gold and possibly, base metal targets.

Data from the recent HyVista Corporation "HyMap" hyperspectral survey of the entire exclusive prospecting licence area has been received by the Company. Preliminary inspection of hyperspectral images confirms the presence of a range of potentially prospective structural, lithologic and alteration features worthy of detailed investigation (Please see the Principal Components 456 hyperspectral image with major magnetic structure overlay on the Forsys Metal Corp web site;

Detailed analysis of the hyperspectral data is currently underway in conjunction with the evaluation of results of the recent stream sediment sampling program and of historical geochemical sampling programs. Newly developed targets and other features of interest will be followed up by field checking, reconnaissance mapping and sampling.

The Company's Exploration Manager, Rick Bonner, P.Geol, is the designated qualified person as defined by National Instrument 43-101.

Forsys Metals Corp. is an innovative exploration company in the business of advancing high value advanced stage projects in Namibia, Africa.

Shares Outstanding: 43,267,788

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

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