Forsys Welcomes John Borshoff as CEO and Announces AGM Voting Results

Forsys Metals Corp. held its annual and special shareholder meeting on July 31, 2026, where all resolutions were approved. John Borshoff was formally appointed as Director, President, and CEO, succeeding retiring directors. Shareholders also approved a corporate name change to Asarian Energy Limited, with trading expected to commence under the new ticker symbol ARN.

Borshoff brings over 50 years of uranium industry experience, including leadership roles at Paladin and Deep Yellow. Strategic priorities under his leadership include asset optimization, evaluating strategic M&A opportunities, and building a diverse project pipeline in a constrained uranium market. The company aims to become a globally significant uranium producer, advancing its wholly-owned Norasa Uranium Project in Namibia while expanding via alliances and joint ventures.

Forsys Metals Corp. (FSY) has appointed an experienced uranium executive and rebranded as Asarian Energy, a move that aligns with the company’s previously announced pivot toward a pure-play uranium focus and potential M&A activity. This announcement follows the leadership change declared on June 15, 2026, marking it as an expected execution step rather than a surprise market mover. The change signals a more aggressive growth posture and improved governance, though it does not immediately alter the financial or operational status of the pre-revenue Norasa project.

Forsys Metals Corp. is a pre-revenue uranium exploration and development company focused on its flagship Norasa Uranium Project in the Erongo Region of Namibia. The company’s assets include the 100%-owned Valencia and Namibplaas deposits.

Valencia holds Mining Licence ML 149 and an approved Environmental Impact Assessment (EIA). The project is advancing toward pilot-scale processing, bulk sampling, and preliminary financial modeling. Forsys is optimizing a heap leach process over traditional tank leaching to lower capital and operating expenditures. A heap leach pilot facility is planned for Valencia, with recovery rates near 87%.

The company’s mineral resource estimates include 151.9 Mt Measured & Indicated at 136 ppm U3O8 and 224.5 Mt Inferred at 86 ppm U3O8.