George Forrest International Afrique S.P.R.L. to Acquire Forsys Metals Corp in Cash Transaction Valued at Approximately CAD$579 Million

TORONTO, ONTARIO--(Marketwire - Nov. 14, 2008) - Forsys Metals Corp ("Forsys" or the "Company") (TSX:FSY)(FRANKFURT:F2T)(NSX:FSY) and George Forrest International Afrique S.P.R.L. ("GFI") announce that they have entered into a definitive agreement pursuant to which GFI will effectively acquire, by way of a court-approved plan of arrangement, all of the outstanding common shares of Forsys (the "Offer") on the basis of CAD$7.00 per share in cash for each common share of Forsys, plus the "in the money" amount of any outstanding Forsys options and warrants.

Forsys Metals Corp is an innovative uranium development Company focused on creating shareholder value by developing uranium assets in Namibia, Africa.

The Valencia Uranium Deposit, the Company’s flag ship project, is 100% owned and is one of only a handful of new uranium projects around the globe that is scheduled for production in 2010.

Valencia’s robust financial model underpins our strategic position to participate in an energy sector that is enjoying very positive long-term fundamentals. As announced in our news release dated August 21, 2008, the Company received our Mining Licence No. 149 for the Valencia project.

Granting of the Mining Licence is the most significant milestone in the development of Valencia, and is only the second Licence to be granted within the last few decades in Namibia.