Forsys Metals Corp

Forsys Metals Corp

November 06, 2006 08:48 ET

Forsys Selects Snowden for Pre-Feasibility Study

TORONTO, ONTARIO--(CCNMatthews - Nov. 6, 2006) - Forsys Metals Corp. ("Forsys" or the "Company") (TSX:FSY) is pleased to announce acceptance of a Pre-Feasibility Study proposal for the Valencia Uranium Project in western central Namibia offered by Snowden Mining Consultants of Johannesburg, South Africa.

The Pre-Feasibility Study will begin immediately with expected completion within the first quarter of 2007. This comprehensive study will address the viability of the Valencia project. It will determine the mining method, the pit configuration and the method of mineral processing. The study will include a financial analysis with an overall expected accuracy of plus/minus 25% based on reasonable assumptions of technical, engineering, operating, environmental and economic factors. The study will also determine that portion of the previously "inferred resource" that may be classified as a mineral reserve.

Management is holding a conference call to provide an update on all corporate matters. All interested in participating may join the call this morning at 9am EST or 10am EST using the following call-in details:

Moderator: Mr. Wayne Isaacs
Local Dial-in: 416 343-2658
Conference Id: 5687452

Shares Outstanding: 46,977,101

Contact Information

  • Forsys Metals Corp.
    Duane Parnham
    Chairman and CEO
    (416) 601-1286 in Toronto
    Westport Resources Namibian (Pty) Limited
    Mr. Rick Bonner, P. Geol.
    Exploration Manager