Forsys Metals Corp. Corporate Presentation

May, 2012TSX:FSY FSE: F2T NSX:FSY

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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.

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Forsys Metals Corp.

Namibia

Namibia’s most advanced

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Uranium explorer

Forsys Investment Highlights

Advanced stage explorer with world class uranium assets in Namibia, Africa

Capability to capitalize on attractive mid and long-term uranium sector dynamics and outlook

Developing and optimizing the wholly owned Valencia and Namibplaas Uranium Projects

Management team with extensive experience in Africa

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Namibia – A proven uranium mining jurisdiction

Valencia Uranium Project

Namibplaas Uranium ProjectAreva

Rio Tinto

Paladin

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Has a stable political and business environment; multi-party democracy with a population of 2.1m people

Mining accounts for 8.8% of Namibia’s GDP and 44% of merchandise exports

Mineral commodities include uranium, gold, diamonds, zinc, copper and lead

A fair and balanced mining code and tax regime

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The world’s 4th largest producer of uranium

Mining in Namibia

What sets Valencia apart ?

Located 35 km from Rio Tinto’s Rössing Mine, producer of 8% of world’s U3O8 supply

One of only two fully permitted development stage uranium mines in Namibia

A 25 year mining licence with all EIA/EMP approvals in place

Strong project economics – NPV of $429m and $273m pre and post tax respectively*

Large and growing reserve & resource base with 77.2 M lbs Measured & Indicated Resources and 60.5 M lbs of Reserves of U3O8 metal

Significant infrastructure in place and all issues addressed

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*Snowden Valencia Uranium Technical Report – Addendum Jan. 2010

Large compliant resource and reserve base

Summary of Valencia Uranium Mineral Resources and Reserves

CategoryOre

(MMt)

Grade U3O8

(ppm)

U3O8 Metal

(MMlbs)

Resources at U3O8 Cut-Off 60ppm

Measured 21.0 161 7.4

Indicated 219.6 144 69.8

Total Measured and Indicated Resources 240.7 146 77.2

Inferred 30.0 144 9.5

Reserves

Proven 19.6 168 7.2

Probable 156.1 155 53.3

Total Reserves 175.7 156 60.5

Prepared by Jeremy Peters BSc., B.Eng, MAusIMM, Principal Consultant, Snowden 2009 & 2010

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Fully permitted project ready to launch development

Valencia 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 �

Desalination Ministry of Agriculture, Water and Forestry �

Petroleum Consumer Installation Ministry of Mines and Energy �

Valencia Uranium Deposit

Open pit design with low strip ratio

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Namibia Infrastructure Update

Water Supply

Namibian Government announced commitment to develop second seawater desalination project. The National Desalination Task Force confirmed additional water availability by end of 2014 approximating 20m cubic litre capacity per annum

Power Supply

NamPower confirmed sufficient power supply capacity. Power supply in the region is expected to remain tight without limiting development until 2015, when a new base-load generation is anticipated to be commissioned

Roads

In Q2 2010, a 26 km of new access road linking Valencia mine to highway was completed. Internal service roads have already been constructed

Buildings

Central office and admin complex will be constructed. Semi-permanent village will be established 8 km from plant

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34 34 34 35

29

0

10

20

30

40

2015 2016 2017 2020 2029

Source: WNA, 2010 mine production and company information

A future world class asset

Source: Company Information – from first year of full production.

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Namibplaas Uranium Project

Drilling commenced in July 2010 and maiden compliant NI 43-101 report released in 2011. Completed 33 diamond drill holes (8,527 m) and 271 percussion drill holes (59,311 m)

Phase 2 program well advanced with 34,550 m in percussion drilling completed with 14,000 m remaining. Updated resource to be released in Q3 2012

Ongoing assessment of consolidation of project with Valencia

Geology - D type alaskite (uranium bearing leucogranite) sills and dykes on strike with Valencia

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7 km away from Valencia

Namibplaas Maiden Resource Summary

Namibplaas Uranium Project

Strike length drilled 1,700 m

Down dip extension 250 m

Inferred Resources*

Cut off ppm Tonnes Mt Grade ppm M lbs eU3O8

80 169 110 41

100 88 130 25

120 43 152 14

Long-term strategy to consolidate with Valencia

* Prepared by Michael Andrew BSc., MAusIMM, Principal Consultant, Optiro, 2011Technical Report on the Namibplaas Deposit, Namibia

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Namibplaas Phase Two Drilling Program

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Phase two drilling program commenced in October 2011. An updated NI 43-101 Technical Report to be released Q3 2012

Includes ~40,000 metres of percussion drilling for a total of ~200 holes (Phase 1 & 2 drilling will exceed 110,000 metres). Drill spacing 40 by 40 metres

On schedule and within fully funded budget of C$2.5M

Consolidated Valencia & Namibplaas Profile

Development to expand U3O8 metal to 85 M lb’s with a low level of incremental Capex (from $350 million to ~$410 million) to increase plant output and achieve improved economics

Valencia expansion potential from drilling indicates extended uranium mineralization to the north, west, south and to a depth of 450 m in the pit. Additional potential identified at the “Joly Zone” (700 metre’s from main Valencia pit)

Namibplaas exploration project outcome likely to increase higher grade resources available for milling at expanded Valencia plant

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Why nuclear power?

Nuclear remains one of the world’s most affordable and

most viable global energy solutions

Source: World Nuclear Association October 2011

World energy demands are rapidly growing – especially in developing countries

Improved nuclear economics – power plants more advanced with greatly improved safety and shorter development timeframes

Necessary contributor to security of energy supply chain

Environmental advantages with low carbon characteristics – nuclear is the only base load clear air energy

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Global Uranium Supply/ Demand1

1. Bloomberg, World Nuclear Association August 2011

2. Salman Partners L/T Forecast April 2012

Attractive Sector Dynamics

Demand exceeds supply:

• Annual demand is 180 M lbs

• Current production supply is 140 M lbs

• The gap largely filled by secondary sources including military warheads (US and Russia) is quickly diminishing and will end in 2013/14

Higher prices forecast:

• Long-term price is currently

$US 60/lb and forecast to reach

>$US 80/lb in 20142

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New and Planned Reactors Fueling Uranium’s Demand

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Source: World Nuclear Association (January, 2012)

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0 20 40 60 80 100 120 140 160 180

South Korea

UAE

Japan

Ukraine

USA

India

Russia

China

Under Construction

Planned

Proposed

435 reactors are in operation world-wide

551 new reactors (329 proposed, 160 planned, 62 under construction)

30% growth in number of reactors by 2020. China nuclear power capacity projected to double to 80 million KW

China, Russia, India and USA are primary drivers

First licence issued for a new nuclear plant in the USA in over 30 years kick-starts greater development

Future Uranium Production – Demand Driven

Must increase sharply to cover rising demand and diminishing secondary supplies in the second half of this decade

Recent trend has been for increased dominance by small number ofmajor producing companies and countries

Africa and Kazakhstan to lead expansion

More exploration taking place – stimulated by higher prices and higher demand forecasts

Source: World Nuclear Association October 2011

Forsys is well positioned to supply material

levels of uranium to meet future demand

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Strategic Objectives

Objective Outcome

2012

Completion of acquisition of remaining 30% of Namibplaas Uranium Project

Completion of Valencia Heap Leaching Optimization process and reporting

Namibplaas Uranium Project - Updated NI 43-101 Technical Report

Commencement of updated feasibility study for Valencia / Namibplaas Projects

Acquire additional exploration licenses that align with our capabilities

Unfettered control of the consolidation with Valencia (Completed March 2012 �)

Potential for improved recoveries, lower Opex / Capex / water consumption

Resource category upgrade, focus on high grade zones to be released in Q3

Optimize the economic potential of the projects

Focusing on uranium or metals projects in Namibia

2013+Complete the DFS and commence Valencia / Namibplaas project development

Commercial production in 2015

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Management team

Marcel Hilmer CEO & Director

Mr. Hilmer has over 25 years of 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 6 years with First Quantum Minerals Limited as a business development executive.

Craig BamfordCFO

Mr. Bamford is a Chartered Accountant and experienced CFO with more than 30 years of finance experience relating to project management, financial reporting and controls, treasury and capital management, risk management, due diligence and business development. He also has 25 years of experience in the uranium industry and prior to 2004 was CFO for Denison Mines Limited, a major North American uranium producer.

Mark Frewin VP Legal Affairs & Director

Mr. Frewin is a partner at the international law firm of McCarthy Tétrault, based in their London England office. Mr. Frewin’s legal practice focuses on energy and in particular mining and metals. Mr. Frewin 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.

Dag KullmannGeneral Manager & Project Engineer

Mr. Kullmann is 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. Mr. Kullmann 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.

Johan de BruinChief Geologist

Mr. De Bruin is an professionally registered Geologist/Mining Engineer with a Masters Degree in Mining Engineering from The University of the Witwatersrand, Johannesburg. Mr. De Bruin has 24 years of mining industry experience in underground and opencast mining and exploration project management. Including uranium, gold and coal. Mr. De Bruin has gained valuable global experience whilst in the employment of key uranium companies including Paladin Energy Limited and Uranium One Mining.

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Directors

Martin R. RowleyIndependent Director & Chairman

Mr. Rowley 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 AllenIndependent Director

Mr. Allen is 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.

Ricardo CampoyIndependent Director

Mr. Campoy has 34 years of international experience as a mining engineer, merchant and investment banker and as a financial advisor. Mr. Campoy has served on a number of mining company boards and currently serves on the boards of General Moly Inc., White Tiger, Endeavour Silver and the US subsidiary of Bayswater Uranium Corporation.

Paul MatysekIndependent Director

Mr. Matysek presently serves as President and Chief Executive Officer of Lithium One Inc. and Nevada Copper Corp. Paul 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.

Lodovico SimoneIndependent Director

Mr. Simone’s career has spanned over 27 years during which time he has gained a significant reputation as a seasoned corporate finance professional. Mr. Simone has focused his career on M&A activity working with Bain & Co., Baring Brothers Hambrecht & Quist and with S.G.Warburg, at the partner and managing director level.

Marcel Hilmer and

Mark Frewin

Details on previous management slide

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Capital Structure

Cash*: $12.3 M

Shares Outstanding*: 109.9 M

Options*: 2.9 M

Warrants*: 2.0 M

Fully Diluted*: 114.8 M

Share Price*: $0.98

52-week range: $0.50 - $1.93

Market Capitalization: $107.68 M

TSX: FSY FSE:F2T NSX: FSY

��* Information as at April 30, 2012

Forsys investment summary

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Advanced stage explorer with world class uranium assets in Namibia, Africa

Capability to capitalize on attractive mid and long-term uranium sector dynamics and outlook

Developing and optimizing the wholly owned Valencia and Namibplaas Uranium Projects

Management team with extensive experience in Africa

Contact Information

Investor Relations:

Nisha HasanTMX Equicom

416-815-0700 ext. 258Email: nhasan@equicomgroup.com

Corporate Office Forsys Metals Corp.

20 Adelaide Street East Suite 902Toronto, Ontario

Canada M5C 1T6Telephone: 416-367-4242

Fax: 416-367-0598Email: info@forsysmetals.com

Website: www.forsysmetals.com

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Forsys Metals Corp. Appendix

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Other assets - Ondundu Gold Project

Located in the Erongo Region,

Namibia, 70% ownership

Open pittable shallow dipping

stratiform deposit

Historical non compliant 43-101

resource of approximately 500 k oz

of gold (4.5 MMt at 3.387 g/t)

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2004 • September – Forsys obtains listing on the TSX Venture Exchange

2006 • October – Forsys commences trading on the Toronto Stock Exchange

2007• May – Forsys completes prefeasibility project on Valencia Uranium Deposit• July – NI 43-101 compliant technical report on Valencia reserves delivered • October – Mr. Martin R. Rowley and Mr. Paul Matysek appointed to Board of Directors

2008• In 2008, Forsys conducts a successful percussion drilling program expanding Valencia reserves• August – Forsys granted mining licence (ML 149) for Valencia Uranium Project

2009• In 2009, 200 additional percussion holes are drilled at Valencia• June – Forsys issues updated Valencia Project Technical Report which reports increased U3O8 reserves

2010• February – Issues Addendum to June 2009 Valencia Project Technical Report and Mr. Marcel Hilmer appointed as

CEO • November – Forsys announces initial results from its 2010 Namibplaas drilling program

2011

• May – Further positive results in ongoing 2011 Namibplaas drilling program • August – Forsys announces up to 92% recoveries from heap leach laboratory tests and commences second phase

optimization study • September – Forsys announces maiden resource estimate for Namibplaas Uranium Project • October – Forsys enters into agreement to acquire remaining 30% of Namibplaas. The company also commenced

phase two drilling program and issued an updated NI 43-101 Technical report in Q3 2012. • November – completed $10 m private equity placement

2012

• January - Announces additional high grade zones from Namibplaas Phase 2 drilling • February – Retains control of Ondundu Gold Project• March – Completes acquisition of remaining 30% Interest in Namibplass

Forsys Milestones

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Valencia – Infrastructure Map

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Valencia – Flowsheet

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