Valencia Uranium Project - Progress Report

"FSY" TSX-V                                Shares Outstanding: 26,895,688 

TORONTO, Oct. 3 /CNW/ - Forsys Metals Corp (the "Company" or "Forsys") is
pleased to provide the following update on its progress on the Valencia
Uranium Project located in Namibia, Africa.
In August 2005, Forsys engaged Snowden Mining Industry Consultants to
prepare a Technical Report to National Instrument 43-101 standards on the
Valencia Uranium Deposit. The report is nearing completion but results from
the drill core verification-sampling program are outstanding. Mr. Greenway,
Snowden's qualified person responsible for the Technical Report, submitted 116
drill core samples to ALS-Chemex in Johannesburg, South Africa for fusion
analysis. Once the data is received, the Technical Report will be finalized
and submitted to the TSX Venture Exchange for approval.
Forsys also wishes to announce that to date it has received $750,000
pursuant to the exercise of the September 2005 series common share purchase
warrants, and $315,000 from the November 2005 series common share purchase
warrants. As a result of the exercise of the warrants, the Company currently
maintains a cash position of approximately $2.1 million.

The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release