Forsys Metals Corp. provided assay results from the Valencia 2023 drilling programme, from Mining License (?ML)-149("Valencia?) in the Erongo region of Namibia, which forms part of the Company?s larger Norasa Uranium Project (?Norasa?). Fifteen boreholes were drilled with a combined total of 2,684.44 metres ("m").

The objectives of the drill program were: geotechnical drilling, and logging and sampling for geo-mechanical testing for pit slope stability assessment and optimizing pit designs; testing the continuity of mineralization for resource modelling; confirming Mineral Resource Estimation (MRE) parameters; and sampling for metallurgical test work and processing design optimization. Drilling, geological and geotechnical logging, down-hole optical televiewer and radiometric scans have been completed on the 15 holes. Eight hundred and nineteen samples from ten of the boreholes underwent assay with established quality control protocol and procedures.

The chemical results have been verified by an accredited lab and reviewed by a third party professional geologist. Highlights are as follows: Multiple zones of massive alaskite intrusions were intersected. Chemical assays confirm uranium mineralization in all six of the confirmation boreholes.

Best mineralized borehole PQ-5 intersected 77.34 m of continuous mineralisation, averaging 439 ppm U3O8, including 41.9 m of 683 ppm U3O8. 2023 intersections of mineralization correlate with the neighbouring, historic drilling, intersections and down-hole gamma survey results. No major zones of rock weakness, i.e. no concerning geological structures, have been intersected.

This is a positive result for the ongoing geotechnical specialist work, as it indicates conducive conditions for pit slope optimization and overall mine design. Geological context: Boreholes GT-01 to GT-07 were drilled from within the planned Valencia Main mine pit, angled and directed away from the centre of the 2015 pit shell to investigate the ground conditions for the pit slope design. Two boreholes, RE-01 and RE-02, were strategically positioned to confirm mineralization from the 2015 FS Mineral Resource Estimate at Valencia in a geologically unique zone.

Holes PQ-01 to PQ-05 were drilled at Valencia for a total of 285.31 m, providing approximately 3 tons of sample for metallurgical testing. Borehole samples were selected for geochemical assay from the routine downhole radiometric scanning results and sent to Trace Elements Analysis Laboratories (Pty) Ltd. (?TEA Labs?) in Swakopmund for sample preparation and analyses by XRF. For internal quality control purposes TEA Labs has weekly round robins with independent laboratories at Rosh Pinah, Husab Uranium, and Langer Heinrich mine laboratories.

Forsys employs an industry standard QA/QC program with Standard Reference Materials, blanks, coarse duplicates and pulp duplicates inserted into each batch of samples analysed. 4% of the samples sent to TEA Labs were sent for check analyses to SGS Laboratories in South Africa, which is an independent accredited laboratory. The sample results are further validated by comparison with the downhole radiometric survey results.

2024 Drilling Program on ML-149, Valencia: The Company also announces that it has commenced a new drilling program at Valencia. Three zones of potential uranium mineralization situated outside of the existing resource block model are now being investigated. The drilling program focusses on three target areas; for individual drill hole locations: A favourable horizon identified at the Jolie Zone (~ 1km north of Valencia pit), Valencia West Extension, and Valencia South.

Twenty-nine boreholes are scheduled for a total of 5,236m of drilling to assess mineralization to depths of up to 380 m below collar. The three areas of mineralization potential were delineated from historic exploration work that included; aerial photo interpretation, geological mapping, aeromagnetic surveys, airborne and ground scintillometer surveys and exploration drilling. Investigation by drilling is required to define the mine?s surface infrastructure development and also to explore for resource upside potential in these areas.

Boreholes VA24-01 to VA10 are completed, awaiting down-hole surveys, detailed recording, and sampling for chemical assay. Additional drilling might be required to test at depth, dependent on the results to be obtained from the campaign.