Overview of Forsys Metals and flagship uranium project in Namibia

1. Forsys Metals
Investor
Presentation
October 2013
Marcel Hilmer, CEO
TSX: FSY | FSE: F2T | NSX: FSY

2. FORWARD-LOOKING STATEMENTS
Some of the statements contained in the following material are forward looking statements and not statement of facts.
Such statements are based on the current beliefs of management, as well as assumptions based on management
information currently available. Forward looking statements are subject to various risks, uncertainties and other factors
that could cause actual results to differ materially from expected results. Readers must rely on their own evaluation of
these uncertainties.
This presentation uses the terms, “Measured Resources,” “Indicated Resources” and “Inferred Resources.” The Company
advises investors that although these classification terms are recognized and required by Canadian regulations
(National Instrument 43-101—Standards of Disclosure for Mineral Projects “NI43-101”), they are not recognized by the
U.S. Securities and Exchange Commission. Investors are also cautioned not to assume that any part or all of the
mineral deposits in these categories will ever be converted to Mineral Reserves. Investors are also cautioned that
“Inferred Resources” have a great amount of uncertainty to their existence and economic feasibility.
Additional information identifying the Company’s risks and uncertainties is contained in its filings available at
www.sedar.com.
Qualified Person
Mr. Martin Hirsch, M.Sc in Geology and a member of the British IMMM, Chief Geologist for Forsys Metals Corp., is the
designated Qualified Person responsible for the Company’s exploration programs. He is familiar with the methods for
Quality Assurance and Quality Control specifically applicable to uranium. Mr Hirsch has sufficient experience that is
relevant to the style and mineralization, type of deposit and the use of radiometrics in resource estimates as well as to
the activity he is undertaking to qualify as a Qualified Person under NI 43-101.
Investor Presentation | October 2013 | Page 2

3. Advancing
Africa’s
most compelling
uranium project
Investor Presentation | October 2013 | Page 3

4. OUR CORE FOCUS | NORASA
• Advanced, fully permitted project in
Namibia
• Large compliant Resources and
Reserves
• Strong and improving economics
• Production scheduled to
commence in Q2 2016
Well positioned for positive uranium sector outlook
Investor Presentation | October 2013 | Page 4

5. CAPITAL STRUCTURE
Forsys Metals Shareholder Base
6.1%
Insiders
Shares Outstanding*:
109.8 M
Options*:
2.7 M
Warrants*:
2.0 M
Fully Diluted*:
114.5 M
53.5%
Retail
Cash*:
$4.0 M
Share Price*:
40.4%
$0. 35
Institutional
12 months range:
Avg. volume (3 mths):
Market Cap (diluted):
$0.33 -$0.87
22.3
CAD $40.0M
* as of June 30, 2013
Significant upside potential
Investor Presentation | October 2013 | Page 5

6. POSITIVE URANIUM FUNDEMENTALS
30%
• Global power consumption to
grow 4% every year to 2020+
growth
in
nuclear power
by 2020*
*Global Data, March 2013
• 30 nuclear power countries
expanding capacity
• 45 nuclear-free countries
looking to add nuclear power
• Driven by rising fossil fuel costs
and harmful emissions
Driven by demand for affordable and clean electricity
Investor Presentation | October 2013 | Page 6

7. URANIUM RECOVERY
UNDERWAY
China
India
Russia
U.S.A
Saudi Arabia
World Total
Under Construction
28
7
10
3
0
68
Planned
61
18
28
9
0
175
Proposed
118
39
18
15
16
314
Total
207
64
56
27
16
557
Operable
17
20
33
100
0
432
Growth led by
emerging
countries without
domestic supply
Investor Presentation | October 2013 | Page 7
557
New
reactors to
be built or
under
construction

8. DEMAND TO EXCEED SUPPLY
75,000
350,000
50,000
300,000
25,000
250,000
0
200,000
-25,000
150,000
-50,000
100,000
-75,000
50,000
-100,000
• Annual U3O8 demand ~170M lbs
• Current production supply ~140M
lbs
• Gap filled by secondary sources will
end late 2013
• HEU Agreement between U.S. and
Russia
0
Net Balance
World Supply
World Requirements
Strong fundamentals support $70/lb
long-term analyst price forecast
Investor Presentation | October 2013 | Page 8

9. NAMIBIA
PROVEN
URANIUM
JURISDICTION
th
5
largest global producer
of uranium
• Pro-business, stable
democracy
• Fair and balanced tax code
• Metals: uranium, gold,
diamonds, zinc, copper and
lead
Investor Presentation | October 2013 | Page 9
9%
GDP derived from
mining

10. NORASA | WORLD CLASS PROJECT
• Consolidation of 3 zones:
Valencia Main / Satellite Pit &
Namibplaas
• Extensive mineralization near
surface
• Open pit environment
Total M&I: 96 Mlbs*
Grade:
200ppm
U 3O 8
* Total Measured & Indicated estimate at cut-off of 100ppm for Valencia and 170ppm for
Namibplaas
Opportunities for further resource expansion
Investor Presentation | October 2013 | Page 10

11. NORASA | IDEAL LOCATION
N
NORASA URANIUM PROJECT
AREVA’S TREKKOPJE MINE
ARANDIS
RIO TINTO’S ROSSING MINE
NAMIBIA
Mine Sites
SWAKOPMUND
PALADIN’S
LANGER HEINRICH MINE
Towns
~35km from Rio Tinto’s Rossing Mine
Investor Presentation | October 2013 | Page 11

12. EXCELLENT INFRASTRUCTURE
Water Supply
Power Supply
Roads
Buildings
• The National Desalination Task Force confirmed additional
water availability by end of 2014
• Approximating 20 million cubic metre capacity per annum
• NamPower confirmed sufficient power supply capacity
• New base-load generation is anticipated to be
commissioned in 2015
• Additional power from Mozambique
• 26 km of new access road linking Valencia mine to highway
completed in mid 2010. Internal service roads have also
been constructed
• Semi-permanent village will be established 8 km from
process plant
Investor Presentation | October 2013 | Page 12

13. NORASA IN PERSPECTIVE
10
uranium
7520
Top
3386
3146
3065
2661
2289
producers
2135
2011
1955
in tonnes U3O8
Norasa’s operating potential - a re-rating opportunity
Data from the World Nuclear Association.
Investor Presentation | October 2013 | Page 13
1903

14. STRONG ECONOMICS
$429M*
Pre-tax NPV
$35/lb*
Cash Costs
Basis for
optimization
and
consolidation
* SNOWDEN, Valencia Uranium (Pty) Ltd: Addendum to June 2009 Technical Report; Project No 696 dated January 2010
Investor Presentation | October 2013 | Page 14
* 2010 Snowden Valencia Technical Report

15. NORASA | Optimized / Expanded Plant*
2010 Base Case Updated to
2013 $
2013 Engineering
Cost Study
Throughput
8.6M tonne/yr
11.2M tonne/yr
Production
3.3M lb/yr
4.2 M lb/yr
$23.66
$21.11
$241.6 MM
$249.7 MM
3-Stage
2-Stage
Milling
3 rod mills
1 SAG mill
Revenue (loM)
$3.5 billion
$4.5 billion
Process cost $/lb
CAPEX (Plant)
Crushing
Differential NPV
+ $348 million
* 2013 ECS was completed by AMEC and focused on the optimization of Norasa’s project economics. Includes Namibplaas and
Valencia. See News Release: May 2, 2013 for details
Progress through optimization and consolidation
Investor Presentation | October 2013 | Page 15

16. VALENCIA ZONE | FULLY PERMITTED
Permit Summary
Permit
Issued By
Mining Licence (ML149)
Ministry of Mines and Energy
Accessory Works
Ministry of Mines and Energy
Environmental Clearance —Valencia Village
Ministry of Environment and Tourism
Environmental Clearance
Ministry of Environment and Tourism
Petroleum Consumer Installation
Ministry of Mines and Energy
Desalination
Ministry of Agriculture, Water & Forestry
Investor Presentation | October 2013 | Page 16
Status
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17. NORASA PROJECT SCHEDULE
Investor Presentation | October 2013 | Page 17

18. MANAGEMENT
Marcel Hilmer
CEO & Exec. Director
Rowen Colman
Director Finance
Mark Frewin
VP Legal Affairs &
Director
Dag Kullmann
General Manager &
Project Engineer
Martin Hirsch
Chief Geologist
30 years of senior management experience with global public and private organizations, specifically with international
mergers and acquisitions in Africa, Europe, Asia and Australia. A long standing member of the Institute of Chartered
Accountants in Australia. Previously, with First Quantum Minerals Limited as a business development executive.
A Chartered Accountant with over 25 years of successful senior financial management experience in various global industries
and holds a Bachelor Degree in Commerce from the University of NSW, Australia. Previously, was the Development Director
for a major sovereign wealth fund in the Middle East and guided the fund from start-up to a global powerhouse.
A partner at the international law firm of McCarthy Tétrault, and based in their London England office. Focuses on energy and
in particular mining and metals. Has participated in numerous international mine financings including several for companies
which do business in Africa. Mr. Frewin is also a director of the Company and of IC Potash.
A Mining Engineer (M.Sc. University of Alberta, Canada, 1989) with over 20 years of experience in the precious, base metals,
diamonds, coal and uranium mining industry throughout Africa and within Asia and Europe. Acted as Qualified Person for
several large and small mining companies for the completion of reserve reporting and listing documentation for the JSE, AIM,
ASX and TSX.
An experienced and professionally registered Geologist with a Master’s Degree in Geology from the Johan Wolfgang-Goethe
University in Frankfurt A.M, Germany. Has more than 20 years of mining industry experience in opencast mining and
exploration project management in uranium and diamonds. Previously with Rio Tinto’s Rössing Uranium Mineas Chief
Geologist and Areva Resources Namibia.
An experienced team – successfully delivering projects on
time and within budget
Investor Presentation | October 2013 | Page 18

19. DIRECTORS
Independent Director &
Chairman
Graduated from the University of Western Australia with a Bachelor of Commerce degree in 1975. He worked as executive
assistant to the Board of Directors of a large Australian public company from 1980 to 1984. He then established his own
resource consulting and investment company and was involved as a shareholder, Director and Chairman of a number of
Australian public resource companies before co-founding First Quantum Minerals Ltd in 1996.
Thomas Allen
A counsel to Ogilvy Renault LLP, an international law firm based in Canada, and has extensive experience advising
numerous corporations on corporate affairs, corporate governance, corporate financings and reorganizations.
Martin R. Rowley
Independent Director
Serves as President and Chief Executive Officer of Lithium One Inc. and Nevada Copper Corp. Has over 35 years of
exploration and development experience and has been involved in raising over $200 million for various exploration and
development projects since 1999.
Paul Matysek
Independent Director
Claudio Cornini
Independent Director
Marcel Hilmer &
Mark Frewin
Founder and current Executive Director of Cornhill and Harvest Ltd. (C&H). Since 2008, C&H has focused on providing
small cap and larger private companies with investment, corporate finance and M&A advisory services Prior to this,
between 2004 – 2008, He served as Chairman of AAA Bank in Milan, Italy and concurrently, from 2007 to early 2008, he
was in charge of the Network Desk at ABN AMRO in Italy.
Details on previous management slide
100+ years of experience in African mining
Investor Presentation | October 2013 | Page 19

20. VALUATION AGAINST PEERS
$4.00
4.0
EV/lb ($)
$3.50
$3.00
$2.50
$2.00
1.6
Average:
$1.04
$1.50
1.0
0.8
$1.00
0.7
0.5
$0.50
0.4
0.3
0.1
$0.00
DML.T
KIV.V
UEX.T
RSC.T
LAM.T
MGA.T
FSY.T
DYL.AX
BAN.T
Current EV and expected sector recovery
provide attractive entry point
Investor Presentation | October 2013 | Page 20

21. FORSYS
INVESTMENT
SUMMARY
Poised to capitalize on uranium sector
recovery
Consolidated project in mining friendly
jurisdiction
Strong economics and low cost
environment
Advancing towards production
Fully permitted with excellent
infrastructure
Experienced management team
Investor Presentation | October 2013 | Page 21

22. CONTACT
INFORMATION
Investor Relations and Corporate
Services Canada
Joe Racanelli
VP, TMX Equicom
31 Adelaide Street East
Toronto, Ontario M5C 2K3
+1 416-815-0700 ext. 243
jracanelli@tmxequicom.com
Australian Representative Office
Marcel Hilmer, CEO
18 Richardson Street
West Perth WA 6005
+61 8-9322-3549
info@forsysmetals.com
www.forsysmetals.com
Investor Presentation | October 2013 | Page 22

23. APPENDIX

24. LARGE COMPLIANT RESOURCE*
Category
Cut-Off Grades
Tonnes [M]
U3O8 [ppm]
U308 [mlb]
Val 60ppm: Nam 100ppm
27
153
9
Val 100ppm: Nam 160ppm
17
202
7
Val 140ppm: Nam 200ppm
10
253
6
Val 60ppm: Nam 100ppm
419
153
141
Val 100ppm: Nam 160ppm
221
197
96
Val 140ppm: Nam 200ppm
114
248
62
Val 60ppm: Nam 100ppm
447
153
150
Val 100ppm: Nam 160ppm
237
197
103
Val 140ppm: Nam 200ppm
125
248
68
Val 60ppm: Nam 100ppm
105
156
36
Val 100ppm: Nam 160ppm
50
198
22
Val 140ppm: Nam 200ppm
18
269
10
Measured
Indicated
Measured + Indicated
Inferred
* Based on updated Estimate of Resources – October 2013
Investor Presentation | October 2013 | Page 24

25. OPEN PIT DESIGNS
Valencia Main & Satellite
Namibplaas
Valencia resource model displaying blocks of 200ppm plus within the
updated preliminary pit outline.
Namibplaas resource model displaying blocks of 170ppm plus within the
updated preliminary pit outline.
Investor Presentation | October 2013 | Page 25

26. ENGINEERING COST STUDY
AMEC released an Engineering Cost Study Report
dated May 2013. The scope of works included assessing
a number of comminution flowsheet changes,
optimizations and process plant Capex and Opex
updates. The preferred option was a two-stage crush
plus single stage SAG mill using acidic filtrate at a grind
of P80 ~600 µm. Highlights include:
•
•
•
•
•
•
•
•
Investor Presentation | October 2013 | Page 26
Differential NPV estimates increased by
US$348m before tax
Opex is significantly reduced from the adjusted
2010 engineering cost study (in 2013 dollars)
Capex for the process plant is cost-effective at
US$249.7m
Leach residence time reduced significantly by
30%
Increase in plant throughput from 8.7 Mt/a to
11.2 Mta
An increase in average annual production from
3.3 Mlb to 4.2 Mlb U3O8
Plant availability increased from 88% to 91%
Plant block model greatly simplified.