Forsys Provides Update on Namibplaas Deposit at Norasa Project in Namibia, The Canadian Business Journal

TORONTO, OCTOBER 5, 2022 (GLOBE NEWSWIRE) — Forsys Metals Corp. (TSX: FSY) (FSE: F2T) (NSX: FSY) (“Forsys” or “we”) announced that it has applied to the Ministry of Mines and Energy of Namibia for a 25-year mining license to develop the Namib Praas uranium deposit as part of its Norasa Uranium Project in Namibia (the “Norasa Project” or “Norasa”). increase. ,Africa. The application was filed in the name of his wholly owned subsidiary of the Company, Valencia Uranium (Pty) Ltd.

The Norasa Project consists of wholly owned uranium deposits within the Valencia and Namib Praas sites. The Company holds a full 25-year mining license (ML-149) for the Valencia deposit, which he is valid until 2033. The Namibplaas deposit, which adds more resources to the Norasa project.

Namibia is a stable country and mining constitutes an established mining industry that is fundamental to the Namibian economy (approximately 10% of GDP and over 50% of exports). Currently, the country is the second largest in the world.^nd Largest uranium producer (about 12% of world production) and 5^th Largest country with uranium resources (>1.5B lbs U₃〇₈).

about Forsyth metal Ltd.
Forsys Metals Corp. is a uranium-focused company in southern Africa with 100% ownership of the Noratha Project, which includes the Valencia Uranium Project and the Namib Praas Uranium Project in Namibia, a politically stable and mining-friendly jurisdiction. development company. Information on current National Instrument 43-101 compliant resources and reserves for Valencia and Namibplaas is available on the company’s website at sysmetals.com.

Representing the Board of Directors of Forsys Metals Corp. Richard Parkhouse, Director of Investor Relations.

For more information, please contact:
Richard Parkhouse, Director of Investor Relations
Email: [email protected] Email: [email protected]
Phone: +44 (0) 7730 493432

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