Forsys Reports Drilling Results from Norasa

TORONTO, Sept. 02, 2025 (GLOBE NEWSWIRE) -- Forsys Metals Corp. (TSX: FSY) (FSE: F2T) (NSX: FSY) (“Forsys” or the “Company”)

Forsys is pleased to announce further drilling results from its ongoing extension and exploration drilling program at the Valencia deposit (under ML 149), part of the Company’s Norasa Uranium project (“Norasa¹”).

A further 115 boreholes totalling 11,739 metres (“m”) have been drilled since results were previously reported on February 26, 2025. The Company has received 10,832 metres of processed downhole gamma survey results. The mineralised intercepts are reported and presented in Table 1 below.

Uranium intercepts have been logged, both in the infill drilling and in the resource extension drilling patterns, within the Valencia Main pit shell volume, reporting new uranium mineralization and encouraging infill grades with the potential to add ore tonnage and reduce the stripping ratio within the modelled pit.

The eastern portion of drilling at the Valencia West target has intersected uranium mineralization within the current Valencia pit shell. Results indicate approximately 250 horizontal metres extent of south easterly-dipping uranium mineralization which is open ended at depth, at the present drilling stage (see Figure 1).

Forsys’ Country Director, Pine van Wyk, commented: “We continue to be very encouraged by results at both the Valencia Main deposit and its surrounding satellite targets. The extension and exploration drilling program continues to advance steadily, positioning us to deliver an updated mineral resource estimate. Also, at our Namibplaas uranium property, preparation work for drill platforms has commenced and drilling will start during the first part of September. Both ongoing efforts are significantly enhancing resource confidence, while expanding our geological understanding of the deposit and supporting the long-term growth potential of the project.”

Highlights

Highlights are as follows:

• Valencia Main Pit: Drilling focused on Valencia Main, to potentially expand the Valencia Main resource and upgrade the resource through infill drilling. Infill drilling aims to convert 26Mt of the Indicated Resource to Measured status (Figure 1). Since February 2025, 5,787m have been completed in 74 drill holes. Highlights include 407 ppm eU308 over a 53m interval in drillhole VA25-229 and 364 ppm eU308 over a 55m interval in drillhole VA25-264. These new results continue to highlight the strong potential to enhance both tonnage and grade at Valencia.
  

• Valencia South: Follow-up drilling on previously reported high-grade intercepts (see the Company’s August 14, 2024 and February 26, 2025 news releases) tested the down-plunge extension to the south of the Valencia Main deposit. The additional drilling was conducted with the aim of increasing and upgrading the indicated resource in this area. Two boreholes totalling 180 metres have been completed since last reporting drilling results. Recent highlights include 338 ppm eU₃O₈ over a 13m interval and 282 ppm eU₃O₈ over a 54m interval in drillhole VA25-289.
  

• Valencia West: Results have been obtained at Valencia West (Figures 1 and 2) where a total of 992m has been drilled in 7 boreholes since February 2025. Recent highlights include 271 ppm eU₃O₈ over a 9m interval in drillhole VA25-288 (Figure 2). All holes intersected new uranium mineralization down dip, along strike and near surface, establishing a link with the Main resource. The drill spacing is believed to be sufficient for this zone to be classified within the Indicated Resource category, which can potentially extend the Valencia Main pit by approximately 150m to the west.
  
  

Figure-1: Overview of Valencia infill and exploration drilling, showing the borehole grades and current Resource Block Model at 690 masl elevation. The current block model is coloured according to resource confidence categories and the boreholes according to borehole grade.

Figure-2: Valencia West resource infill and resource extension drilling completed since Feb 2025 in blue (and showing previous boreholes in grey). The potential resource extension is shown in red outline; beyond the PEA pit design as shown.

Valencia East and Jolie Zone Exploration and Resource Definition Drilling

Drilling tested mineralization extension and identified potential additional resource targets outside of the pit shell at the Jolie Zone and at Valencia East, respectively.

• Drilling at Valencia East (11 boreholes, totalling 1,574m since February 2025) included both infill and extension of the historical resource (Figure 1). Recent highlights include 184 ppm eU₃O₈ over a 25m interval in drillhole VA25-295 (Figure 3). Extension drilling is still in progress towards the south of the historic Valencia East resource, where additional mineralization has been established along strike and down dip. The aim of the infill drilling is potentially upgrade the Valencia East resource to Indicated status.

• At the Jolie Zone 12 boreholes totalling 2,009m have been completed since the last drilling update. Located about 600m north of the Valencia Main deposit, drilling identified two sub-parallel mineralised intrusions, approximately 50m from each other. Recent results include 623 ppm eU₃O₈ over a 11m interval in drillhole VA25-273. Interpretation of these results indicate continuity of mineralization, which is significant since it enhances the potential to estimate additional mineral resources. Mineralization is indicated over a strike length of approximately 350 metres.
  

Figure-3: Valencia East resource infill and resource extension drilling completed since Feb 2025 in blue (and showing previous boreholes in grey). Further potential resource extensions are shown in red outline in NE beyond the PEA pit design as shown.

Table-1: Mineralised intercepts from the Valencia Infill and Exploration program, comprising 11,739 total metres drilled since 19 February 2025

The above table lists all mineral intercept results from drillholes completed since the February 26, 2025 News Release. Interval widths are presented per downhole; drilling orientations are intended to intersect mineralisation at a high angle, as far as is possible, and positions are guided by the current geological model. True widths are expected to deviate significantly from reported widths and will be revised as more information materialises.

QAQC
Recent (2024 to date) Sampling and Assays

• Samples were taken from the diamond drill cores and RC chips for geochemical assay guided by radiometric downhole logging. The samples are sent to SGS Laboratories in South Africa, for sample preparation and ICP analyses. Quality Assurance and Quality Control included regular internal and external check tests on a continuous basis in each of the sample batches processed.

• Forsys employs a QAQC program with Certified Reference Materials (CRMs), blanks, coarse duplicates, and pulp duplicates inserted into each batch of samples. The QAQC insert rate comprises 4% CRMs using three CRM types with different grades of U₃O₈; 4% blanks and 8% to 10 % duplicates. RC sample batches have three types of duplicates; a field duplicate split at the drill rig; a coarse duplicate split at prescribed intervals at the laboratory; and pulp duplicates, also split at the laboratory. Core samples have coarse, and pulp duplicates split at the laboratory.
  

External Check Assay Laboratory
Drill samples were sent to SGS in South Africa. Four percent of the samples sent to SGS are also submitted for check analyses to UIS Laboratories (UIS) in South Africa; UIS serves as the independent accredited laboratory. The sample results are further validated by comparison with the downhole radiometric scans.

Qualified Persons Statement for Mineral Resource
The information in this release that relates to the Interim Drilling Results for the Norasa Project is based on information compiled or reviewed by Dr Guy Freemantle of The MSA Group (Pty) Ltd., Johannesburg, South Africa. The MSA Group are independent consultants to the Norasa Project, Namibia. Dr Freemantle holds a Bachelor of Science in Geology (2006) and Doctor of Philosophy in Geology (2017) both at the University of the Witwatersrand. He is a member of the Society of Economic Geologists (892905); a Fellow of the Geological Society of South Africa (965392); and is registered with SACNASP (Registration 117527). Dr Freemantle has practiced his profession continuously for 14 years and has sufficient experience and knowledge that is relevant to the style of mineralization and type of deposits under consideration as well as to the activity that is being undertaken to fulfil requirements of a Qualified Person as per NI 43-101. Dr Freemantle consents to this release in the form and context in which it appears.

About Forsys Metals Corp.
Forsys Metals Corp. (TSX: FSY, FSE: F2T, NSX: FSY) is an emerging uranium developer focused on advancing its wholly owned Norasa Uranium Project, located in the politically and uranium friendly jurisdiction of Namibia, Africa. The Norasa Uranium Project is comprised of the Valencia Uranium deposit (ML-149) and the nearby Namibplaas Uranium deposit (EPL-3638). Further information is available at the Company website www.forsysmetals.com

On behalf of the Board of Directors of Forsys Metals Corp. Richard Parkhouse, Investor Relations. For additional information please contact:

Pine van Wyk, Country Director, Forsys
email: pine@forsysmetals.com

Richard Parkhouse, Investor Relations
email: rparkhouse@forsysmetals.com email: info@forsysmetals.com

Forward Looking Statement

Certain information contained in this press release constitutes "forward-looking information", within the meaning of Canadian legislation. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur", "be achieved" or "has the potential to". Forward looking statements contained in this press release are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations. Among those factors which could cause actual results to differ materially are the following: market conditions and other risk factors listed from time to time in our reports filed with Canadian securities regulators on SEDAR+ at www.sedarplus.ca. The forward-looking statements included in this press release are made as of the date of this press release and Forsys Metals Corp disclaim any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation.

^{______________________________
1} The Norasa Uranium Project (“Norasa“) is wholly owned by the Company’s 100% subsidiary Valencia Uranium (Pty) Ltd. (“Valencia Uranium”) and comprises the Valencia uranium deposits (held under ML-149) ("Valencia”) and the Namibplaas uranium deposit (under EPL-3638, application for ML-251) (“Namibplaas”), located in the Erongo region of Namibia.

² Assay results are denoted U₃O₈, while grades calculated from downhole gamma are represented by eU₃O_8.

Photos accompanying this announcement are available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/48e98a9a-4325-4026-b2ae-fc752566be63
https://www.globenewswire.com/NewsRoom/AttachmentNg/ac3f3371-0972-4cf7-b952-41f9534eb0e8
https://www.globenewswire.com/NewsRoom/AttachmentNg/e58dca43-331f-4dc3-a15c-b75a6a603358

Figure-1

Overview of Valencia infill and exploration drilling, showing the borehole grades and current Resource Block Model at 690 masl elevation. The current block model is coloured according to resource confidence categories and the boreholes according to borehole grade.

Figure-2

Valencia West resource infill and resource extension drilling completed since Feb 2025 in blue (and showing previous boreholes in grey). The potential resource extension is shown in red outline; beyond the PEA pit design as shown

Figure-3

Valencia East resource infill and resource extension drilling completed since Feb 2025 in blue (and showing previous boreholes in grey) Further potential resource extensions are shown in red outline in NE beyond the PEA pit design as shown.

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