TORONTO, Jan. 06, 2025 (GLOBE NEWSWIRE) -- Forsys Metals Corp. (TSX: FSY) (FSE: F2T) (NSX: FSY) (“Forsys” or the “Company”) is pleased to announce that its wholly-owned subsidiary Valencia Uranium (Pty) (“Valencia Uranium”) has finalised an agreement with Namibplaas Guestfarm and Tours (Proprietory) Limited (the “Farm Owner”) for the purchase of Portion-1 of farm Namibplaas No.

93 (the “Property”), at the Company’s Norasa Uranium project (“Norasa 1 ”). The Property hosts the Namibplaas uranium deposit (“Namibplaas”), under Exclusive Prospecting Licence (EPL-3638) The purchase of this Property is the final outcome of lengthy negotiations for the economic terms for access rights with the previous farm owner. EPL-3638 covers a total surface area of 1,266 ha; with approximately 93 % (1,179 ha) located on the Property, which measures approximately 6,700 hectares (ha).

Figure-1 (below) provides an overview of the Property, the Company’s mineral licence holding and applications, exclusive use area and planned and existing linear infrastructure. EPL-3638 is situated less than 3 km to the northeast of the Valencia deposit (ML-149) and is accessed via a newly constructed industrial grade road from the B2 highway to the Valencia project site followed by a track suitable for 4x4 vehicles. For detailed information on the recent updated Mineral Resource Estimate for Norasa, please refer to the Company’s news release dated 14 May 2024.

Planning is underway .