FSY Forsys Metals Corp

Forsys Metals Corp. (TSX:FSY) (FRANKFURT:F2T) (NAMBIAN:FSY) ("Forsys" or the
"Company") is pleased to announce that it has engaged AMEC to commence a
Feasibility Study ("FS") for its 100% owned and permitted Norasa Uranium Project
("Norasa") located in Namibia. AMEC is a leading international engineering and
project management firm with prior involvement in the development of NI 43-101
Technical Reports for Norasa. SGS South Africa has also been appointed to
complete additional metallurgical studies, which will include pilot plant
testwork. The FS will also include the input of other specialist consultants for
certain aspects of the study. These areas include an update of the pit designs,
tailings handling systems and bulk water and power supply. Some technical
aspects have already been completed to a level suitable for the FS including the
resource model and pit geotechnical designs.


"The commencement of the feasibility study is the next important milestone in
the development of the Norasa project. The FS will consolidate all accumulated
project mine and technical data," said Marcel Hilmer, CEO of Forsys. "We are
very pleased to have assembled such a competent technical team being lead by
AMEC. We are targeting Q1 2015 for completion of the study."


The FS will also incorporate the development of an engineered construction and
operating plan with considerations for social, environmental and water
management, additional permitting, geotechnical engineering, metallurgical
testing, process design and mine planning. An Environmental Impact Assessment
was previously completed in 2008 resulting in the granting of an Environmental
Clearance Certificate by the Ministry of Environment and Tourism to cover all
activities associated with the construction, operation and closure of the
Valencia Mine, the flagship deposit at Norasa. This work will be expanded and
updated to accommodate the larger Norasa Project. 


Forsys released an updated NI 43-101 Technical Report for Norasa on March 27,
2014 that underpins management's decision to commence the FS. The economic
outcomes and Technical Report key performance indicators (KPI) are summarised in
Tables 1 and 2 below.


Table 1. Summary of Norasa Economic Results



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$68 /Lb Uranium                                      Pre-tax       Post-tax 
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Net Cash Flow                                       $1,304.5         $837.2 
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Net Present Value (8%)                                $637.3         $411.6 
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Internal Rate of Return                                   42%            36%
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Payback (years)                                          3.9            3.9 
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Table 2. Summary of Norasa KPI



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Average Annual Production                                 5.2 Mm Lbs/year   
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Total LOM Production                                     65.3 Mm Lbs        
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Processing Rate                                          11.2 MTPA          
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Life of Mine ("LOM")                                     12.5 Years         
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Initial Capex                                            $392 USD Mm        
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Cash Costs (Years 1 - 5)                               $34.64 $/Lb          
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Cash Costs (LOM)                                       $38.16 $/Lb          
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Processed Grade (LOM)                                     240 PPM           
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Uranium Recovery                                           89 %             
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The estimated Measured and Indicated Mineral Resource for Norasa is 237Mt at a
grade of 197ppm U3O8, which equates to 103Mlbs of U3O8. The total Proven and
Probable Norasa Mineral Reserve is 177Mt at a grade of 202ppm, which equates to
79Mlbs of U3O8. Resources are reported inclusive of Reserves. 


NI 43-101 and Qualified Persons 

Mr. Martin Hirsch, M.Sc in Geology and a member of the British IMMM, Chief
Geologist for Forsys Metals Corp., is the designated Qualified Person
responsible for the Company's exploration programs and reporting of Mineral
Resources. Mr. Hirsch has sufficient experience that is relevant to the style
and mineralization, type of deposit and the use of radiometrics in resource
estimation to qualify as a Qualified Person under NI 43-101.


Mr. Dag Kullmann, M.Sc. Mining Engineering from the University of Alberta, a
Fellow of the Southern African Institute of Mining and Metallurgy (SAIMM),
Engineering Manager for Forsys, is the designated QP responsible for the
reporting of Mineral Reserves. Mr. Kullmann has sufficient experience in the
assessment and application of modifying factors required for the determination
of reserves for open pit operations to qualify as a QP under NI 43-101.


About Forsys Metals Corp.

Forsys Metals Corp. is an emerging uranium producer with 100% ownership of the
Norasa project that comprises the fully permitted Valencia uranium project and
the Namibplaas uranium project in Namibia, Africa a politically stable and
mining friendly jurisdiction. Information regarding current National Instrument
43-101 compliant Resource and Reserves at Valencia and Namibplaas are available
on our website. Shares outstanding: 109.9M


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 15, 2013, 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. 


The Toronto Stock Exchange has not reviewed and does not accept responsibility
for the adequacy or accuracy of this release


FOR FURTHER INFORMATION PLEASE CONTACT: 
Forsys Metals Corp.
Marcel Hilmer
Chief Executive Officer
+61 417 177 942
mhilmer@forsysmetals.com
www.forsysmetals.com


TMX Equicom
Joe Racanelli
+1 416-815-0700 Ext 243
jracanelli@tmxequicom.com

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