Forsys Announces Dual Listing on the Namibian Stock Exchange
TORONTO, ONTARIO--(Marketwire - Dec. 5, 2007) -
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.
Forsys Metals Corp. (the "Company") (TSX:FSY) is pleased to announce that effective December 11, 2007 the common shares of the Company will commence trading on the Development Board ("DevX") of the Namibian Stock Exchange under the symbol "FSY".
Duane Parnham, Chief Executive Officer of the Company stated: "We are extremely pleased to have our shares listed on the Namibian Stock Exchange. The Company has contributed to the Namibian economy and been committed to Namibia over the past several years. The listing will permit Namibians to participate in the growth of the Company as it advances its Valencia Uranium project to production. We hope that the listing of our shares on the Namibian Stock Exchange will further increase international awareness and foreign investment in Namibia."
The Valencia property is an advanced stage uranium development project located 35 km from Rio Tinto's Rossing Uranium Mine and approximately 50 km north of Paladin's Langer Heinrich Uranium Mine in Namibia, Africa. In June 2007, the Company released a National Instrument 43-101 compliant Prefeasibility Study Technical Report ("PFS") on the Valencia project, outlining a mineral resource (measured, indicated and inferred) of 62.1Mlbs U3O8 and a mineral reserve of 30.2 Mlbs U3O8. The PFS proposes production to commence in late 2009.
On Behalf of the Board of Directors of Forsys Metals Corp.
Duane Parnham, President and CEO
For further information visit our web site at www.forsysmetals.com.
Sedar Profile #00008536
Shares Outstanding: 76,838,998