FOCUS MINERALS LTD

==> picture [72 x 50] intentionally omitted <==

==> picture [720 x 11] intentionally omitted <==

==> picture [720 x 324] intentionally omitted <==

----- Start of picture text -----

WA’s Next Multi-Asset,
Long-Life Gold Producer
AGM Presentation
31 July 2020
Beasley Creek, Laverton
Western Australia
----- End of picture text -----

==> picture [676 x 12] intentionally omitted <==

ASX:FML focusminerals.com.au

==> picture [72 x 50] intentionally omitted <==

Disclaimer and Competent Person’s Statement

==> picture [720 x 11] intentionally omitted <==

This presentation is not a prospectus nor an offer for securities in any jurisdiction nor a securities recommendation.

The information in this presentation is an overview and does not contain all information necessary for investment decisions. In making investment decisions in connection with any acquisition of securities, investors should rely on their own examination of Focus Minerals Ltd (Focus Minerals or the Company) and consult their own legal, business and/or financial advisers.

The information contained in this presentation has been prepared in good faith by Focus Minerals Ltd, however no representation or warranty expressed or implied is made as to the accuracy, correctness, completeness or adequacy of any statements, estimates, opinions or other information contained in this presentation.

To the maximum extent permitted by law, Focus Minerals Ltd, its directors, officers, employees and agents disclaim liability for any loss or damage which may be suffered by any person through the use or reliance on anything contained in or omitted from this presentation.

Certain information in this presentation refers to the intentions of Focus Minerals Ltd , but these are not intended to be forecasts, forward looking statements or statements about future matters for the purposes of the Corporations Act or any other applicable law. The occurrence of events in the future are subject to risks, uncertainties and other factors that may cause Focus Minerals Ltd’s actual results, performance or achievements to differ from those referred to in this presentation. Accordingly, Focus Minerals Ltd, its directors, officers, employees and agents do not give any assurance or guarantee that the occurrence of the events referred to in the presentation will actually occur as contemplated.

The information in this report that relates to Exploration Results, Exploration Targets and Mineral Resources is based on information compiled by Mr Alex Aaltonen who is a member of the AusIMM. Mr Aaltonen is employed by Focus Minerals Limited and has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves . Mr Aaltonen consents to the inclusion in this announcement of the matters based on the information compiled by him in the form and context in which it appears.

==> picture [676 x 12] intentionally omitted <==

==> picture [72 x 50] intentionally omitted <==

WA’s next multi-asset, long-life gold producer

==> picture [720 x 11] intentionally omitted <==

Two near-term, low CAPEX production hubs – in a Tier 1 mining jurisdiction

Laverton District +25Moz in production and reserves

386km[2] highly prospective tenements
Total July 2020 Indicated and Inferred resources comprise

44Mt @ 2.1 g/t Au for 3.0Moz

Stage 1 mining operation PFS underway for completion in Dec 2020

Coolgardie District - Catalyst for the WA Gold Rush

175km[2] highly prospective tenements
Total Indicated and Inferred resources comprise

28.5MT @ 2.4 g/t Au for 2.19 Moz

Coolgardie Stage 1 PFS underway for completion next month

==> picture [300 x 333] intentionally omitted <==

==> picture [676 x 12] intentionally omitted <==

==> picture [72 x 50] intentionally omitted <==

Focus at a glance

==> picture [720 x 11] intentionally omitted <==

Focus Minerals YTD Share Price Performance

0.5 0.45 0.4 0.35 0.3 0.25 0.2 0.15 0.1

30 Jul: A$0.445

==> picture [652 x 34] intentionally omitted <==

Corporate Structure

Board and Senior Management

Dianfei Pei Chairman +30yrs in mining	Shares on Issue: 182,748,565
Zhaoya Wang Director, CEO +20yrs in mining	Market Capitalisation (30-07-2020): A$81.3m
Zaiqian Zhang Director, CFO CA, AGIA, ACIS, BSc (Hons), MSc +10yrs in finance	Cash Balance (30-06-2020): A$6.9m – unrestricted A$13.6m – restricted
Gerry Fahey Independent Director M.AIG, M.AusIMN +40yrs in mining and resource exploration	Debt: Nil
	Major Shareholder: Shandong Gold (49.53%) – the largest gold producer in China with presence in China (incl. Hong Kong SAR), Argentina, Canada and Australia.
Alex Aaltonen GM Exploration BSc Geology (Hons), MAUSIMM +20yrs in mining and resource exploration

==> picture [676 x 12] intentionally omitted <==

==> picture [72 x 50] intentionally omitted <==

A Busy Year

==> picture [720 x 11] intentionally omitted <==

Progress since our last AGM

Drilled 3,627m at Coolgardie and 48,324m at Laverton for 51,951m

Increased Indicated/Measured Inventory by 899,349oz

Added 500,000oz to Total Measured + Indicated + Inferred Inventory at:

Beasley Creek +85Koz @ 2.24 g/t Au
• Beasley Creek South +79Koz @ 3.55 g/t Au
• Karridale +70Koz @ 1.38 g/t Au • Wedge – Lancefield North +168Koz @ 1.54 g/t Au
• Telegraph +50Koz @ 1.81 g/t Au
• Greenfields +62Koz @ 1.62 g/t Au

Completed positive scoping study for Laverton Stage 1 mining operation

Advanced CAPEX estimates for Laverton and Coolgardie process plants

Commenced Coolgardie PFS – due for delivery in August 2020

Commenced Laverton PFS – due for delivery in December 2020

Focus share price trading at two-year highs

==> picture [280 x 66] intentionally omitted <==

Panned Gold Tail 20BSRD012 33 - 34m

==> picture [280 x 211] intentionally omitted <==

----- Start of picture text -----

Barnicoat Mill 1.5Mtpa
----- End of picture text -----

Visible Gold PQ3 Core 20KADD002 117.65 – 117.7m

==> picture [676 x 12] intentionally omitted <==

==> picture [72 x 50] intentionally omitted <==

Renewed Focus

==> picture [720 x 11] intentionally omitted <==

Balanced Strategy

Laverton remains the prime driver of value for Focus

Clear and persistent focus on updating and increasing Mineral Resource to underpin a sustainable mining operation
Next resource update – September 2020 Quarter
PFS underway into mining and Barnicoat refurbishment – due for completion in December
Focus considering all financing options
Clear target to be in production by 2022

Coolgardie can deliver significant value

Last year's sales process triggered strong and realistic bids
Discussions in good faith - ultimately, Focus could not secure the relevant approvals
Prompted Focus' technical team to reassess Coolgardie resource potential – with immediate success
Market conditions conducive to resuming operations at Coolgardie
Three Mile Hill could treat Focus ore as well as third-party ore
Cash from Coolgardie will help fund Laverton Exploration

==> picture [263 x 197] intentionally omitted <==

----- Start of picture text -----

Barnicoat Mill 1.5Mtpa
----- End of picture text -----

==> picture [263 x 121] intentionally omitted <==

----- Start of picture text -----

Three Mile Hill Mill 1.4Mtpa
----- End of picture text -----

==> picture [676 x 12] intentionally omitted <==

==> picture [72 x 50] intentionally omitted <==

Laverton Gold Project

==> picture [720 x 11] intentionally omitted <==

Low CAPEX Production Hub

July 2020 Total Indicated and Inferred Stage 1 open pit resources comprise: 26.9MT @ 1.6 g/t Au for 1.38Moz
81% of Stage 1 Open Pit Resource Indicated Category for 21.7Mt @ 1.6 g/t Au for 1.12Moz
Stage 1 mining operation PFS underway for completion December 2020
Mill refurbishment CAPEX and time estimate in advanced stage. Current estimate is 9 months at A$41M Including 20% contingency
High-grade multi-year starter oxide pits at Beasley Creek area with Total Indicated and Inferred Resources comprising: Beasley Creek 2.66Mt @ 2.2 g/t Au for 191,917oz Beasley Creek South 1.01Mt @ 3.6 g/t Au for 115,761oz Total Beasley Creek 3.68Mt @ 2.6 g/t Au for 307,678oz
Resource updates due for completion in September 2020 Quarter

==> picture [308 x 366] intentionally omitted <==

==> picture [676 x 12] intentionally omitted <==

==> picture [72 x 50] intentionally omitted <==

Laverton Gold Project

==> picture [720 x 11] intentionally omitted <==

==> picture [267 x 369] intentionally omitted <==

Laverton Mineral Resource Table July 2020

Stage 1 Total Indicated and Inferred Resources Included in PFS 26.9MT @ 1.6 g/t Au for 1,382,447oz

Rapid and efficient Stage 1 open pit resource growth:

1.29Moz Au (81% Indicated Category) added since July 2018
Open pit Indicated Resources added <$20/oz
High-grade resource growth in Beasley Creek area

Provisional Stage 2 Total Indicated and Inferred Resources 12.6MT @ 3.5 g/t Au for 1,399,000oz

Coolgardie and Stage 1 production to self-fund expansion/upgrade of Stage 2 resources

Other Total Indicated and Inferred Laverton Resources 5.1MT @ 1.5 g/t Au for 246,000oz

Numerous additional opportunities

==> picture [676 x 12] intentionally omitted <==

==> picture [72 x 50] intentionally omitted <==

Laverton Gold Project

==> picture [720 x 11] intentionally omitted <==

Beasley Creek High Grade Oxide Starter Pits

Total Indicated and Inferred Beasley Creek Area Resources 3.68Mt @ 2.6 g/t Au for 307,678oz

Rapid resource growth at 15 July 2020 – 213% increase in Total Indicated and Inferred Resource at Beasley Creek South

On 28 July, new Beasley Creek South intersections included 20BSRD005* 10.05m @ 9.13 g/t Au from 252.25m to EOH

And new strongly mineralised intersections at Beasley Creek Including: 20BSRD012 - 6m @ 31.06 g/t Au from 32m 20BSDD065 - 29m @ 2.5 g/t Au from 214m 20BSDD051 - 16m @ 2.55 g/t Au from 186m 20BSDD063 - 6.5m @ 5.54 g/t Au from 100.3m

Updated Beasley Creek resource due in September 2020 Quarter

*Intersections calculated using 0.5 g/t Au cut off, Up to 3m Internal Dilution and full dilution of any core loss

==> picture [269 x 370] intentionally omitted <==

----- Start of picture text -----

O
P
E
N
----- End of picture text -----

==> picture [676 x 12] intentionally omitted <==

==> picture [72 x 50] intentionally omitted <==

Laverton Gold Project

==> picture [720 x 11] intentionally omitted <==

Conceptual Laverton Production Plan

Stage 1 Low CAPEX Open Pit Production

Complete Laverton PFS by December 2020
Finalise Beasley Creek area resource and mine schedule in March 2021 Quarter – high-grade oxide starter pits for ~4 years' production
Secure financing by 1[st] Half 2021
Barnicoat 1.5Mtpa Mill low CAPEX mill refurbishment – likely to take 9 months at A$41M including 20% contingency
Use Coolgardie and Laverton production to fund Stage 2 development

==> picture [676 x 12] intentionally omitted <==

==> picture [72 x 50] intentionally omitted <==

Coolgardie Gold Project

==> picture [720 x 11] intentionally omitted <==

==> picture [293 x 366] intentionally omitted <==

Low CAPEX Production Hub

Coolgardie PFS underway with delivery in August 2020
PFS Total Measured + Indicated + Inferred Resources comprise: Greenfields open pit 2.66Mt @ 1.6 g/t Au for 139,123oz Brilliant South open pit 5.10Mt @ 2.3 g/t Au for 374,500oz Bonnie Vale underground 0.94Mt @ 6.8 g/t Au for 205,000oz Total PFS Resource 8.70Mt @ 2.6 g/t Au for 718,623oz
Mill refurbishment CAPEX and time estimate is at an advanced stage. Current estimate is 9 months and A$24M including 20% contingency
Rebuilt Greenfields model boosts resource by 81% (announced 9/07/2020)
Brilliant trend mineralisation model increases resource potential
Additional open pit feed sources under review

==> picture [676 x 12] intentionally omitted <==

==> picture [72 x 50] intentionally omitted <==

Coolgardie Gold Project

==> picture [720 x 11] intentionally omitted <==

==> picture [422 x 330] intentionally omitted <==

Underestimated Resource

Potential

Strongly mineralised steep and moderate dipping lodes recognised at Greenfields open pit in June 2020

As announced July 9, 81% boost to Total Indicated and Inferred Greenfields open pit resources

2.66Mt @ 1.6 g/t Au for 139,123oz

Greenfields cut-back is likely to be the Coolgardie starter pit before serving as future mine tails facility

Review of historic Coolgardie resources now warranted

View ESE of July 2020 Greenfields Open Pit Resource Model (red dashed line: 2017 PFS pit design). Steep and moderate SSW dipping mineralised lodes were modelled to support a resource update in July 2020

==> picture [676 x 12] intentionally omitted <==

==> picture [72 x 50] intentionally omitted <==

Coolgardie Gold Project

==> picture [720 x 11] intentionally omitted <==

Serially Under-drilled

Exploration has been too constrained resulting in the following issues:

Limited attempt to look beyond traditional steep lode hosted mineralisation
Holes with incomplete sampling or sampling that targets steep structural positions only
Limited drill sections extending across the mine stratigraphy
Limited deeper holes pushed into the footwall of the main lode
Intersections between lodes or footwall/hangingwall to steep lodes ignored in resource models

==> picture [414 x 278] intentionally omitted <==

Section view towards the NNW at Brilliant North.

2019/2020 Proof of concept drill holes are labelled and have thicker traces. Assays exceeding 0.42 g/t Au are coloured as per inset legend.

Pre March 2020 traditional steep mineralisation interpretation is shown and labelled as Brilliant Main Lode and Brilliant Hangingwall lodes.

==> picture [676 x 12] intentionally omitted <==

==> picture [72 x 50] intentionally omitted <==

Coolgardie Gold Project

==> picture [720 x 11] intentionally omitted <==

Serially Under-drilled

Staged drilling at Brilliant North delivers new mineralisation model:

Strongly mineralised moderate dipping lodes are confirmed on the Brilliant trend
Moderate dipping mineralisation is developed in addition to traditionally targeted steep dipping lodes
Resource potential on Brilliant trend improved and new targets confirmed
Model is applicable to deposits hosted by mine stratigraphy

==> picture [414 x 277] intentionally omitted <==

High gold price supports review of numerous potential open pit re-development opportunities

Section view towards the NNW at Brilliant North.

2019/2020 Proof of concept drill holes are labelled and have thicker traces. Assays exceeding 0.42 g/t Au are coloured as per inset legend.

Pre March 2020 mineralisation interpretation is labelled as Brilliant Main Lode and Brilliant Hangingwall lodes. Post March 2020 interpretation comprises overlying stacked moderate east dipping lodes (light orange/red outlined polygons).

==> picture [676 x 12] intentionally omitted <==

==> picture [72 x 50] intentionally omitted <==

Coolgardie Gold Project

==> picture [720 x 11] intentionally omitted <==

Conceptual Coolgardie Production Plan

Complete PFS
Secure financing
Low CAPEX refurbishment of Three Mile Hill during 2021 – 9 Months, A$24M including 20% contingency
Mill flow sheet optimisation to 1.4Mtpa
Use open pit base load production to leverage very high-grade underground production

==> picture [676 x 12] intentionally omitted <==

==> picture [72 x 50] intentionally omitted <==

On the cusp of delivering value for all shareholders

==> picture [720 x 11] intentionally omitted <==

Achievements

Underway

Clear Path

Build and develop proficient team

Near-term production shaping up at two projects hubs

Low CAPEX and moderate finance entry to production Growing resource base to underpin extended mine lives

Efficient and rapid improvement of resource base

PFS at Laverton and Coolgardie projects

Ideally placed as markets looks for WA's next sustainable gold production investment opportunity

Coolgardie PFS due in August 2020 to support project finance initiatives Resource updates for Laverton and Coolgardie expected during September 2020 Quarter

Short runway for return to production and cashflow at Coolgardie

September 2020 Quarter Coolgardie cashflow to support Laverton project development Laverton PFS due for completion December 2020; financing talks Stage 1 Laverton operation commenced delivering first gold in 2022

==> picture [676 x 12] intentionally omitted <==

==> picture [72 x 50] intentionally omitted <==

WA’s next multi-asset, long-life gold producer

==> picture [720 x 11] intentionally omitted <==

For more information please contact: Zaiqian Zhang

Director, CFO and Company Secretary

T : +61 8 9215 7888

E : [email protected]

Office Address: Level 2, 159 Adelaide Terrace, East Perth, WA 6004 Postal Address: PO Box 3233, East Perth, WA 6892

For investor and media inquiries, please contact:

Peter Klinger

Cannings Purple

==> picture [167 x 116] intentionally omitted <==

M : +61 411 251 540

E : [email protected]

About Focus Minerals Ltd (ASX: FML)

Focus Minerals is a Perth-based, ASX-listed gold exploration company focused on delivering shareholder value from its 100%-owned Laverton Gold Project and Coolgardie Gold Project, in Western Australia’s Goldfields.

The flagship Laverton Gold Project covers 386km[2] area of highly prospective ground that includes the historic Lancefield and Chatterbox Trend mines. Focus’ priority target is to confirm sufficient gold mineralisation at the Beasley Sheer Zone, Lancefield-Wedge Thrust and Karridale to support a Stage 1 production restart at Laverton. In parallel, Focus is working to advance key Laverton resource growth targets including Sickle, Ida-H and Burtville South.

Focus is committed to delivering shareholder value from the Coolgardie Gold Project, a 175km[2] tenement holding that includes the 1.4Mtpa processing plant at Three Mile Hill (on care and maintenance), by continuing exploration and value-enhancing activities. The Company is in the process of updating a pre-feasibility study for Coolgardie as part of plans to consider a resumption of gold mining operations.

The release of the Corporate Presentation was authorised by Mr Zhaoya Wang, Director and CEO of Focus Minerals Ltd.

==> picture [676 x 12] intentionally omitted <==

AI assistant

FOCUS MINERALS LTD — AGM Information 2020

64932_rns_2020-07-30_6a58c360-33e1-463b-87b9-0454d2af7de5.pdf