Forsys Reports Further Drilling Results from Norasa

13:00 Uhr  |  Newsfile

Toronto, January 15, 2026 - Forsys Metals Corp. (TSX: FSY) (FSE: F2T) (NSX: FSY) ("Forsys" or the "Company") is pleased to announce further drilling results from its extension and exploration drilling program at the Valencia deposit (under ML 149), part of the Company's Norasa Uranium project ("Norasa"¹).

The drilling program's objective is to expand mineral resources within and adjacent to the Valencia main pit. A further 960 metres ("m") of processed downhole gamma survey results and 8,519 ICP assay results have been logged and processed since the Company's September 2, 2025 news release. The results obtained on mineralised intercepts for the Valencia main and satellite deposits are reported below (Table 1).

Uranium intercepts have been logged, both in the infill drilling and in the resource extension drilling programs. The drilling is intended to improve the definition of the orebody, providing additional information for pit optimisation and mine planning.

Forsys' Country Director, Pine van Wyk, commented: "We are further encouraged by these results from both the Valencia Main deposit and its surrounding satellite targets. The extension and exploration drilling program has concluded and ongoing drilling has identified resource extention potential, while also improving our geological understanding of the deposit and confidence in the mineral resource."

Highlights

Widths are reported as drill hole intersection lengths. True width is estimated to be approximately 75% of the downhole width.

Highlights are as follows:

• Valencia Main Pit: Infill drilling has focused on the Valencia Main deposit, aiming to expand the Valencia Main resource and upgrade the resource classification. Infill drilling had the objective to move the resource into the Indicated and Measured categories (Figure 1). Since 2024, 17,532 m has been completed in 209 drill holes at Valencia Main. Results received since September 2, 2025 include drillhole VA24-127 with 64 m from surface to 64 m depth averaging 333 ppm U₃O₈. These new results continue to highlight the strong potential to enhance both tonnage and grade at Valencia.

• Valencia South: Drilling tested the down-plunge extension to the south of the Valencia Main deposit with the objective of increasing and upgrading the Indicated resource in this portion of the Valencia main deposit. Encouraging results have been obtained so far. Recent drilling includes borehole VA25-289 intersecting 32 m averaging 168 ppm eU₃O₈ from 90 m to 122 m followed by three more intersects of 7 m averaging 156 ppm eU₃O₈, 13 m grading 419 ppm U₃O₈ and 53.9 m grading 385 ppm U₃O₈, between 212 m and 304 m depth, the latter two intercepts being laboratory assays (ICP-MS).

• Valencia West: Results have been obtained at Valencia West (Figures 1 and 2) where seven boreholes have been completed since February 2025 for a total of 1,067 m. ICP assay results received since September 2025 include the following highlights: 315 ppm U₃O₈ over a 9.01 m interval in drillhole VA25-288 and 5 m grading 682 ppm U₃O₈ in borehole VA25-292. The drilling intersected additional uranium mineralization down dip, along strike and near surface, establishing a link with the Valencia Main resource. The drill spacing is believed to be sufficient for this zone to be classified within the existing Indicated Resource, potentially extending the Valencia Main pit by approximately 150 m to the west.

• The Jolie Zone satellite mineralization is located about 600 m north of the Valencia Main resource. 24 boreholes totalling 3,505 m have been completed since February 2025. Drilling identified two sub-parallel mineralised intrusions, approximately 50 m from each other. Assay results received since September 2025 include 263 ppm U₃O₈ over a 5 m interval and a further 736 ppm U₃O₈ over 11 m in drillhole VA25-273. Interpretation of these results indicates a continuity of mineralization, which is significant since it enhances the potential foradditional mineral resources. Mineralization is inferred over a strike length of approximately 350 metres at the Jolie Zone.

• The Valencia East satellite deposit generated encouraging results from the recent drill campaign. 35 boreholes, totalling 3,838 m, have been drilled since 2024, including both infill and extension drilling of the historical resource (Figure 1). Assay results received since September 2025 include two intersections in drillhole VA25-302 which returned 207 ppm U₃O₈ over a 9 m interval, followed by 30.6 m grading 186 ppm U₃O_8.. Borehole VA25-284 intersected 241 ppm U₃O₈ over a 22 m width from 75 m, and VA25-298 intersected 612 ppm U₃O₈ over a 7m width from 120 m. The aim of the infill drilling is to upgrade the Valencia East resource to the Indicated category. Extension drilling has identified additional mineralization along strike and down dip. See Figure-2 below.

Figure-1: Overview of Valencia infill and exploration drilling, showing the metres x ppm U₃O₈ for the 2024 to 2025 drill results.

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Figure-2: Cross section, 75m wide through Valencia East, showing the borehole grades and current Resource Model grade bins. Borehole VA25-302 indicates elevated grades with respect to the 2024 Resource Block Model, while grades in boreholes VA25-284, VA25-298 and VA25-302 all indicate potential for additional resources to the SE of the 2024 model.

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Table-1: 2025 drill campaign; comprehensive drillhole results update since the Company's September 2, 2025 news release (final results as at December 15, 2025); Widths are reported as drill hole intersection lengths. True width is estimated to be approximately 75% of the downhole width. Infill Drilling is for Valencia Main and West.

The above table lists all mineral intercept results obtained since the Company's September 2, 2025 news release. Drill collar positions are guided by field mapping and the current geological model. Interval widths are presented per downhole measurements; True widths of mineralized intrusions are expected to deviate from the reported widths. Drilling orientations are planned to intersect mineralization at high angles, as far as is possible, depending on terrain and accessibility of drill positions.

Quality Assurance and Quality Control ("QAQC")

Recent (2024 to date) Sampling and Assays

• Samples were taken from the diamond drill cores and RC chips for geochemical assay guided by radiometric downhole logging. The samples are sent to SGS Laboratories in South Africa, for sample preparation and ICP analyses. QAQC included regular internal and external check tests on a continuous basis in each of the sample batches processed.

• Forsys employs a QAQC program with Certified Reference Materials (CRMs), blanks, coarse duplicates, and pulp duplicates inserted into each batch of samples. The QAQC insert rate comprises 4 % CRMs using three CRM types with different grades of U₃O₈; 4 % blanks and 8 % to 10 % duplicates. RC sample batches have a field duplicate split at the drill rig; and pulp duplicates split at prescribed intervals at the laboratory. Core samples have coarse cruch duplicates, and pulp duplicates, each split at the laboratory.

External Check Assay Laboratory

Four percent of the samples sent to SGS are also submitted for check analyses to UIS Laboratories (UIS) in South Africa; UIS serves as the independent accredited laboratory. The sample results are further validated by comparison with the downhole radiometric scans.

Qualified Persons Statement for Mineral Resource
The information in this release that relates to the Interim Drilling Results for the Norasa Project is based on information compiled or reviewed by Dr Guy Freemantle of The MSA Group (Pty) Ltd., Johannesburg, South Africa. The MSA Group are independent consultants to the Norasa Project, Namibia. Dr Freemantle holds a Bachelor of Science in Geology (2006) and Doctor of Philosophy in Geology (2017) both at the University of the Witwatersrand. He is a member of the Society of Economic Geologists (892905) and current Africa region VP; a Fellow of the Geological Society of South Africa (965392); and is registered with SACNASP (Registration 117527). Dr Freemantle has practiced his profession continuously for 16 years and has sufficient experience and knowledge that is relevant to the style of mineralization and type of deposits under consideration as well as to the activity that is being undertaken to fulfil requirements of a Qualified Person as per NI 43-101. Dr Freemantle consents to this release in the form and context in which it appears.

About Forsys Metals Corp.
Forsys Metals Corp. (TSX: FSY) (FSE: F2T) (NSX: FSY) is an emerging uranium developer focused on advancing its wholly owned Norasa Uranium Project, located in the politically and uranium friendly jurisdiction of Namibia, Africa. The Norasa Uranium Project is comprised of the Valencia Uranium deposit (ML-149) and the nearby Namibplaas Uranium deposit (EPL-3638). Further information is available at the Company website www.forsysmetals.com.

On behalf of the Board of Directors of Forsys Metals Corp. Richard Parkhouse, Investor Relations. For additional information, please contact:

Forward-Looking Statement

Certain information contained in this press release constitutes "forward-looking information", within the meaning of Canadian legislation. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur", "be achieved" or "has the potential to". Forward-looking statements contained in this press release are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations. Among those factors which could cause actual results to differ materially are the following: market conditions and other risk factors listed from time to time in our reports filed with Canadian securities regulators on SEDAR+ at www.sedarplus.ca. The forward-looking statements included in this press release are made as of the date of this press release and Forsys Metals Corp disclaim any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation.

¹ The Norasa Uranium Project ("Norasa") is wholly owned by the Company's 100% subsidiary Valencia Uranium (Pty) Ltd. ("Valencia Uranium") and comprises the Valencia uranium deposits (held under ML-149) ("Valencia") and the Namibplaas uranium deposit (under EPL-3638, application for ML-251) ("Namibplaas"), located in the Erongo region of Namibia.

² Assay results are denoted U₃O₈, while grades calculated from downhole gamma are represented by eU₃O_8.

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