Forsys Welcomes John Borshoff as CEO and Announces AGM Voting Results

About this update from Forsys Metals Corp.

Toronto, Ontario--(Newsfile Corp. - August 4, 2026) - Forsys Metals Corp. (TSX: FSY) (FSE: F2T) (NSX: FSY) ("Forsys" or the "Company") held its annual and special meeting of the Company's shareholders (the "Meeting"), conducted virtually on July 31, 2026. All resolutions presented were approved by the Company's shareholders. HIGHLIGHTS ____________________________________________________________________________________________________ Shareholder Resolutions Considered A total of 129,286,158 common shares representing 52.83% of the Company`s issued and outstanding common shares were voted in connection with the Meeting. Shareholders voted in favour of the election of the five director nominees as follows: Shareholders also voted in favour of the other item of business considered at the Meeting, being the appointment of RSM Canada LLP as the Company's auditors, approval of a change in name to Asarian Energy Limited, the approval of the granting of additional Performance Share Units to Mr. John Borshoff, the re-approval of the Company's Omnibus Incentive Plan and the approval of an amendment to the unit restriction period applicable to Performance Share Units and Restricted Share Units under the Omnibus Incentive Plan. The foregoing grant of Performance Share Units, re-approval of the Omnibus Incentive Plan and unit restriction period amendment remain subject to final TSX approval. Pursuant to Section 11.3 of National Instrument 51-102, the Company filed a "Report of Voting Results" on July 31, 2026, under the Company's filings on SEDAR+ (www.sedarplus.ca). Appointment of President/CEO The Board of Directors of Forsys welcomes Mr. Borshoff as CEO, President and Executive Director. As a highly regarded leader in the industry and one of the world's most experienced uranium mining executives, Mr. Borshoff has spent more than 50 years building uranium companies from exploration through development to production, creating successful mining operations and earning global recognition for achievements that have helped shape the modern uranium industry. The Board looks forward to benefitting from his expertise and deep understanding of the uranium supply sector as he builds a proven team capable of implementing and executing a value creation strategy centred on asset optimization with the concurrent evaluation for strategic mergers and acquisitions. The Company's goa...

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