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 MainPit: 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 Target BHID From (m) To (m) Width (m) eU3O8 (ppm) Valencia infill VA24-192 25 62 37 150 Valencia infill VA24-193 25 62 37 122 Jolie VA24-194 58 92 34 102 Jolie VA24-195 148 179 31 178 Jolie VA24-196 132 142 10 94 Jolie VA24-197 70 75 5 60 Jolie VA24-198 29 49 20 123 Valencia infill VA25-199 1 12 11 216   and: 48 84 36 149 Valencia infill VA25-200 5 44 39 152 Valencia infill VA25-201 1 8 7 140 Valencia infill VA25-202 4 25 21 68 Valencia infill VA25-203 90 94 4 325 Valencia infill VA25-204 60 86 26 268 Valencia infill VA25-205 44 55 11 304 Valencia infill VA25-206 52 64 12 306 Valencia infill VA25-207 43 55 12 173   and: 76 95 19 198 Valencia infill VA25-208 61 68 7 370 Valencia infill VA25-209 20 23 3 100 Valencia infill VA25-210 86 92 6 364 Valencia infill VA25-211 37 47 10 126 Valencia infill VA25-212 1 13 12 86 Valencia infill VA25-213 43 50 7 114 Valencia infill VA25-214 60 65 5 101 Valencia infill VA25-215 14 18 4 58 Valencia infill VA25-216 8 84 76 175 Valencia infill VA25-217 41 78 37 218 Valencia infill VA25-218 8 75 67 212 Valencia infill VA25-219 7 80 73 178 Valencia infill VA25-220 1 57 56 139 Valencia infill VA25-221 22 72 50 270 Valencia infill VA25-222 25 63 38 207 Valencia infill VA25-223 40 60 20 145 Valencia infill VA25-224 1 61 60 154 Valencia infill VA25-225 32 63 31 95 Valencia infill VA25-226 11 66 55 134 Valencia infill VA25-227 2 64 62 113 Valencia infill VA25-228 35 65 30 132 Valencia infill VA25-229 8 61 53 407 Valencia infill VA25-230 17 79 62 104 Valencia infill VA25-231 26 82 56 86 Valencia infill VA25-232 28 72 44 102 Valencia infill VA25-233 8 32 24 107 Valencia infill VA25-234 16 48 32 100 Valencia infill VA25-235 8 35 27 155 Valencia infill VA25-236 24 67 43 115 Valencia infill VA25-237 11 69 58 123 Valencia infill VA25-238 10 59 49 153 Valencia infill VA25-239 5 82 77 151 Valencia infill VA25-240 7 90 83 135 Valencia infill VA25-241 4 84 80 99 Valencia infill VA25-242 32 87 55 152 Valencia infill VA25-243 1 44 43 292 Valencia infill VA25-244 24 78 54 120 Valencia infill VA25-245 21 74 53 124 Valencia infill VA25-246 1 30 29 211   and: 62 65 3 361   and: 76 92 16 574 Valencia infill VA25-247 28 80 52 79 Valencia infill VA25-248 14 78 64 114 Valencia infill VA25-249 6 86 80 101 Valencia infill VA25-250 58 76 18 153 Valencia infill VA25-251 77 88 11 214 Valencia infill VA25-252 5 41 36 111 Valencia infill VA25-253 25 48 23 143 Valencia infill VA25-254 7 51 44 151 Valencia infill VA25-255 0 49 49 265 Valencia infill VA25-256 23 82 59 167 Valencia infill VA25-257 3 76 73 226 Valencia infill VA25-258 10 74 64 126 Valencia infill VA25-259 18 68 50 131 Valencia infill VA25-260 11 73 62 74 Valencia infill VA25-261 35 72 37 145 Valencia infill VA25-262 40 49 9 117 Valencia infill VA25-263 47 74 27 122 Valencia infill VA25-264 9 64 55 364 Valencia infill VA25-265 54 66 12 274 Valencia infill VA25-266 39 52 13 103 Valencia infill VA25-267 28 65 37 104 Valencia infill VA25-268 38 57 19 392 Valencia infill VA25-269 27 54 27 69 Valencia VA25-270 63 96 33 90 Valencia West VA25-271 103 111 8 65 Jolie VA25-272 75 82 7 124 Jolie VA25-273 97 107 10 130   and: 143 154 11 623 Jolie VA25-274 31 50 19 98 Jolie VA25-275 2 66 64 73   and: 94 97 3 340 Jolie VA25-276 1 19 18 130   and: 37 79 42 95 Valencia VA25-277 29 36 7 131 Valencia VA25-278 9 54 45 100 Valencia VA25-279 57 90 33 77 Valencia East VA25-280 16 19 3 59 Valencia East VA25-281 19 38 19 164 Valencia East VA25-282 53 60 7 97 Valencia East VA25-283 69 76 7 156   and: 115 121 6 169 Valencia East VA25-284 75 97 22 165 Jolie VA25-285 83 96 13 73 Valencia West VA25-286 75 78 3 104 Valencia West VA25-287 92 108 16 62 Valencia West VA25-288 182.92 191.93 9.01 271 Valencia S VA25-289 90 122 32 163   and: 212 219 7 151   and: 227 240 13 338   and: 251 305 54 282 Valencia S VA25-290     0 0 Valencia West VA25-292 81 86 5 575 Valencia West VA25-293 85 91 6 97 Valencia West VA25-294 84 87 3 159 Valencia East VA25-295 58 83 25 184 Valencia East VA25-296         Valencia East VA25-297 87 93 6 271 Valencia East VA25-298 92 97 5 186   and: 120 127 7 451 Jolie VA25-299 64 65 1 50 Valencia East VA25-300 106 113 7 249   and: 147 160 13 124 Valencia East VA25-302 139 172 33 120 Valencia Main VA24PQ-08 14 80.83 66.83 343 Valencia Main VA24PQ-09 54 66 12 210 Valencia Main VA24PQ-10 21 124 103 96 Valencia Main VA24PQ-11 57.37 125.72 68.35 104 Valencia Main VA24PQ-12 29.7 120.83 91.13 243             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. AboutForsysMetalsCorp. 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: [email protected] Richard Parkhouse, Investor Relations email: [email protected] email: [email protected] 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 eU3O8. Photos accompanying this announcement are available at https://www.globenewswire.com/NewsRoom/AttachmentNg/48e98a9a-4325-4026-b2ae-fc752566be63https://www.globenewswire.com/NewsRoom/AttachmentNg/ac3f3371-0972-4cf7-b952-41f9534eb0e8https://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. © 2025 Canjex Publishing Ltd. All rights reserved.