FSY Forsys Metals Corp

Forsys Metals Corp. ("Forsys" or the "Company")
(TSX:FSY)(FRANKFURT:F2T)(NSX:FSY) is pleased to announce that it has entered
into a purchase agreement with Etherlin Management Corp ("Etherlin") pursuant to
which the Company will acquire from Etherlin its indirect 30% equity interest in
the Namibplaas Uranium Project ("Namibplaas") in Namibia. The acquisition is in
exchange for the issue by the Company of 13,000,000 new common shares in the
capital of the Company and 2,000,000 common share purchase warrants of the
Company. Upon completion of the acquisition, Forsys will have a 100% equity
interest in Namibplaas.


The Company is also pleased to announce that it has commenced phase two of its
2011/12 drilling program at Namibplaas with an approved budget of C$2,500,000.
The Company is targeting an updated compliant NI 43-101 Technical Report in the
third quarter of 2012.


Forsys' Chief Executive Officer Marcel Hilmer said, "By acquiring the remaining
30% interest in Namibplaas, Forsys is able to benefit fully from the advanced
exploration program and has full control over the project consolidation
assessment with the already 100% owned Valencia Uranium Project. The acquisition
is a significant step towards a consolidated Valencia/Namibplaas uranium project
with the aim of completion of an updated Feasibility Study in 2012 incorporating
increased resources, lower capital and operating costs and improved overall
project economics. The maiden resource statement for Namibplaas released in
September 2011 confirmed the project's potential and we are pleased to have now
commenced a second phase 40,000 metre percussion drilling program at
Namibplaas."


Acquisition of 30% Interest in Namibplaas Uranium Project

Pursuant to the purchase agreement, the Company will acquire 100% of the shares
of Gold Enterprises Limited which owns 30% of the shares of Dunefield Mining
Company (Pty) Limited which in turn owns the 100% equity interest in Namibplaas
in exchange for the issue to Etherlin of 13,000,000 shares and 2,000,000 share
purchase warrants, each warrant entitling the holder to acquire one share at a
price of C$1.10 for a period of 2 years from the date of issue. The shares and
warrants shall be issued to Etherlin in reliance on exemptions from the
requirement to prepare a prospectus and shall be subject to statutory resale
restrictions for a period of four months and one day from the date of issue.


Completion of the purchase agreement is conditional, among other things, on all
necessary third party, regulatory or tax approvals being obtained and Etherlin
satisfying its shareholder funding obligations for the 2011 exploration
expenditures on Namibplass to date of C$1,030,000.


2011/12 Namibplaas Drilling Program

The Company has commenced phase two of its 2011/12 drilling program at
Namibplaas with the objective of an updated compliant NI 43-101 Technical Report
by the third quarter of 2012.


The aim of the 2011/12 drilling program is to complete an additional 40,000
metres of percussion drilling in a total of approximately 200 holes. This would
bring the drill spacing to 40 by 40 metres and allow for completion of an update
of the NI 43-101 resource statement for Namibplaas previously announced in
September 2011.


About Forsys Metals Corp.

Forsys Metals Corp. is an emerging uranium producer with 100% ownership in the
fully permitted Valencia Uranium Project and currently 70% ownership in
Namibplaas in Namibia, Africa a politically stable and mining friendly
jurisdiction. Current NI 43-101 compliant reserves at the Valencia Uranium
Project are 60.5 Mlbs of U3O8. Current Measured and Indicated resources are 75.5
Mlbs U3O8 with a further 8.4 Mlbs of Inferred U3O8. Current NI 43-101 compliant
inferred resources at the Namibplaas Uranium Project are 41.1 Mlbs of U3O8 at an
80ppm cut-off grade.


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

Marcel Hilmer, Chief Executive Officer

Sedar Profile #00008536

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 Company. The following are important
factors that could cause Forsys actual results to differ materially from those
expressed or implied by such forward looking statements: fluctuations in uranium
prices and currency exchange rates; uncertainties relating to interpretation of
drill results and the geology; continuity and grade of mineral deposits;
uncertainty of estimates of capital and operating costs; recovery rates,
production estimates and estimated economic return; general market conditions;
the uncertainty of future profitability; and the uncertainty of access to
additional capital. Full description of these risks can be found in Forsys
Annual Information Form, dated March 29, 2011, available on the Company's
profile on the SEDAR website at www.sedar.com. These risks and uncertainties
could cause actual results and the Company'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 Company
assumes no obligation to update forward-looking information should circumstances
or management's estimates or opinions change.


Shares Outstanding: 80,130,231

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