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Comparison of Uracan to Forsys Metals Corp

Bob Moriarty
December 10, 2008

Comparison of Uracan to Forsys Metals Corp
Source: 2006 and 2008 NI 43-101 Technical Reports, Internal Reports Source: NI 43-101 Report on Valencia Deposit, June 2007
Market Capitalization (approximate) $13,600,000 $579,000,000
Resource Class Inferred. Measured, Indicated and Inferred.
Cut-off Grade 0.009% U3O8. 0.006% U3O8.
Tonnes 74.2 Mt. 256.6 Mt.
Average Grade 0.012% U3O8. 0.011% U3O8.
Contained Lbs U3O8 19.97 M Lbs U3O8. 62.1 M Lbs U3O8.
Location Quebec Canada Namibia Africa
Power Quebec Hydro powerline 5 km from site. 20 km to nearest powerline.
New Hydro Project on Romaine River to provide 1,500 Mw potential from 4 dams, starting 2013. Namibian Government says they will be able to provide power for project in future.
Forsys has provided cash advance to NamPower to build infrastructure required.
Road Paved highway across property, 7 km to Double S. 96 km dirt road to site from nearest town (Usakos).
Surface access in winter, helicopter in summer.
Can easily build 7 km gravel road from highway.
Port access 10 km to St. Lawrence Seaway and ferry port at Baie Johan Beetz. 272 km to only port in Namibia at Walvis Bay.
Existing deep water shipping port at Havre St. Pierre, 60 km west of property.
Water Plentiful local fresh water- inexpensive and simple. Desalinated seawater by pipeline - costly and technologically complex.
Mining Infrastructure QIT Lac Allard Iron-Titanium Mine near Havre St Pierre. Rossing U mine approximately 30 km SW of property, U producer since 1973.
Sept Iles main export terminal and regional hub for Iron mines in Labrador/Quebec. Open pit mines are only mines in area. Other exploration stage U properties in area.
Experienced mining labour and equipement easily available in region.
Other exploration stage U properties in area.
Status Initial NI 43-101 Inferred Resource completed July 2008.  Intermediate Exploration Stage. Mining License for development of deposit received August 2008. 
Equipment being purchased for mining operations, definition drilling underway.
Mine construction in early stages with pit design underway.
Climate Boreal Forest - long cold winters, short warm wet summers , ample precipitation Desert - hot and dry year round, limited precipitation
Property Geology Located within the Grenville Orogenic Belt; a major high grade metamorphic event comprised  predominantly of migmatites and gneisses, gneissic textured S-type granites. Central Zone of Damata Orogenic Belt,  high metamorphic grades and voluminous granitic intrusions.
There are at least two ages of pegmatite development in area; early and late. All U bearing granites are in the Central Zone.
Granites are alkali leucocratic granitic pegmatites (alaskite). Granites are alkali leucocratic granitic pegmatites (alaskite)
Intrusives surrounded by highly metamorphosed sediments. Intrusives surrounded by highly metamorphosed sediments.
Complex intrusive history Multiple intrusive phases (at least 7 phases of intrusion in area of Double S Zone). Multiple intrusive phases (at least 8 intrusive phases).
Mineralogy of Intrusives Quartz, Alkali Feldspar +/- Biotite. Quartz, Alkali Feldspar +/- Biotite.
Magnetite and hematite main accessory minerals Tourmaline, apatite, garnet and iron as accessory minerals
Various accessory minerals are locally very important in different areas of the deposit.
Metamorphism of Intrusives Little or no metamorphism of intrusion; post dates Grenville Metamorphism. Generally low grade metamorphism.
Structural Deformation Undeformed. Some structural deformation of intrusives.
Grain Size of Intrusives Variable, from fine grained to very coarse grained (Pegmatitic). Variable from aplitic to very coarse grained (Pegmatitic).
Uranium Minerals Preliminary petrography identified Uranophane, Uraninite, Uranothorite with very minor secondary U minerals. Uraninite, uranophane, uranothallite.
Deposit Type Intrusive Type. Intrusive Type.

Uracan is an advertiser on 321energy and we have participated in a private placement in the past. We are biased and we expect investors to do their own due diligence.

But with 25% of the size and similar grade in far more friendly environment, Uracan is selling for less than 3% of what Forsys is selling for. Uracan is cheap by any measure.

We believe peak oil is real, we believe peak oil is past and uranium is a good buy right now.

Bob Moriarty
President: 321gold


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