Forsys Appoints Director Finance and Establishes Office in Perth
TORONTO, ONTARIO -- (Marketwire) -- 06/11/12 -- Forsys Metals Corp. ("Forsys" or the "Company") (TSX: FSY)(FRANKFURT: F2T)(NAMIBIAN: FSY) is pleased to announce the appointment of Rowen Colman as Director Finance of the Company. Mr. Colman is a Chartered Accountant with over 25 years of global executive financial management experience in various industries. Previously, Rowen was the Development Director for a major sovereign wealth fund in the Middle East and guided the fund from start-up to a global powerhouse.
The Company is also pleased to announce that it has opened an administration and engineering office in Perth, Australia. The Perth office will be the focal point for advancing the Company's consolidated definitive feasibility study for the Valencia and Namibplaas uranium projects in Namibia.
Marcel Hilmer, CEO and Director at Forsys commented, "We are pleased to welcome Rowen as the Director Finance. Rowen has a demonstrated track record of obtaining significant financial and operational efficiencies. His experience will be a great asset to Forsys as we continue to advance towards development."
Our CFO, Craig Bamford departed the Company on June 8, 2012. Forsys thanks Mr. Bamford for his committed service and wishes him success in his future ventures.
About Forsys Metals Corp.
Forsys Metals Corp. is an emerging uranium producer with 100% ownership of both the fully permitted Valencia Uranium Project and 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 the Valencia and Namibplaas Uranium Projects are available on our website.
On behalf of the Board of Directors of Forsys Metals Corp.
Marcel Hilmer, Chief Executive Officer
Sedar Profile #00008536
(12-05)
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: 109,875,422
The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
Contacts:
Forsys Metals Corp.
Marcel Hilmer
Chief Executive Officer
+61 417 177 942
mhilmer@forsysmetals.com
www.forsysmetals.com
TMX Equicom
Nisha Hasan
+1 416-815-0700 ext. 258
nhasan@equicomgroup.com
