FOCUS MINERALS LTD — Capital/Financing Update 2007

Jul 24, 2007

PERTH

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MEDIA / ASX RELEASE

Level 3 105 St Georges Terrace Perth Western Australia 6000 Phone: 61 8 9215 7888 Fax: 61 8 9215 7889 Email: pwilliams@focusminerals.com.au

ACN 005 470 799

25 July 2007

CONTINUING HIGH-GRADE GOLD RESULTS FROM KEY PERSEVERANCE DEPOSIT, COOLGARDIE SIGNIFICANT POTENTIAL TO INCREASE COOLGARDIE GOLD PROJECT RESOURCES

WA gold and nickel company Focus Minerals Ltd (ASX: FML ) and its Redemption Joint Venture (RJV) partner Canadian-based Committee Bay Resources Ltd (TSXV: CBR ) have further reinforced the potential of the high-grade Perseverance deposit at the Coolgardie Gold Project , with the announcement today (Wednesday) of additional results confirming continuity of grades and widths.

Together with a series of outstanding results reported for the deposit during the past year, the new results demonstrate the substantial potential for the RJV to continue to grow the Perseverance resource, which currently measures 300,000t @ 9.4 g/t Au, for 89,600 ounces of gold.

The new results include:

• 29m @ 20.02 g/t Au;

• • 21m @ 7.30 g/t Au; • 6m @ 9.86 g/t Au; • 6m @ 9.27 g/t Au; and • 6m @ 5.53 g/t Au.

Additional results are contained in the tables attached to this announcement.

The RJV is conducting several drilling programs at Perseverance, as part of a feasibility study aimed at the commencement of mining by December 2007.

The latest results indicate that the Perseverance mineralisation trends north at shallow levels. Further results are pending for the high-grade deposit for which the mineralisation remains open in all directions. The RJV anticipates announcing an upgraded resource, to form part of the Bankable Feasibility Study for Perseverance, early in the September Quarter 2007.

Several downhole EM surveys currently being conducted on deeper holes at the periphery of the main quartzsulphide lode at Perseverance are testing for potential additional high-sulphide zones beneath and adjacent to the existing known mineralisation.

In addition, the RJV is also planning several ground EM surveys along the highly-prospective Redemption Corridor, which lies north and south of Perseverance. The new EM surveys will follow up several anomalies identified from recently completed VTEM surveying.

“These latest results and the work we are currently conducting reinforce the significant potential to further increase the high-grade resources at the centre of the Coolgardie Gold Project,” Focus Minerals’ Managing Director, Mr Peter Williams, said. “We are eagerly anticipating additional results from five infill core holes and three shallow RC exploratory holes, which have been completed as part of our ongoing activity at Perseverance.

“The Perseverance decline development work is on schedule to commence next month and this will greatly enhance exploration and development access to this important deposit.”

“Our additional EM survey work also highlights our confidence in identifying further potential resources for this high-grade area, strategically located in close proximity to the Greenfields processing plant and our Three Mile Hill facility,” he added.

Earlier this month, the RJV announced agreement for priority toll treatment of up to 480,000tpa of ore at the Greenfields plant, owned and operated by Higginsville Mining and located on RJV land.

Table 1 Phase 3 - Drilling Highlights – Perseverance Quartz-Sulphide Lodes

Hole ID	Comments	From (m)	To (m)	Length (m)	Au g/t
07PEC014		109.0	114.0	5.0	1.54
07PEC015		69.0	75.0	6.00	9.27
	including	71.0	73.0	2.0	22.78
07PEC016		8.0	14.0	6.0	2.44
07PEC020		1.0	6.0	5.0	9.86
07PEC021		45.0	47.0	2.0	1.66
07PEC022		124.0	130.0	6.0	5.53
07PEC023		141.0	162.0	21.0	7.30
	including	141.0	153.0	12.0	11.79
07PEC024		133.0	136.0	3.0	6.83
07PEC025		84.0	90.0	6.0	5.95
	including	84.0	87.0	3.0	9.04
07PED018		138.0	167.0	29.0	20.02
	including	140.9	147.0	6.1	28.21
	and	159.0	166.7	7.7	44.86
		173.8	175.0	1.2	17.15

Table 2 Phase 3 – Drilling Highlights – Perseverance Diorite Hosted Stockwork Mineralisation

Hole ID	Comments	From (m)	To (m)	Length (m)	Au g/t
07PEC018		67.0	70.0	3.0	2.05
07PEC024		151.0	153.0	2.0	1.42
07PED018		71.0	74.0	3.0	1.27
		184.0	186.0	2.0	2.46
		202.0	204.0	2.0	2.00

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COMPETENT PERSON’S STATEMENT

The information in this report relating to Resources and Reserves is based on work supervised by Mr Chuck McCormick who is a Fellow of the Australasian Institute of Mining and Metallurgy (AusIMM). Mr McCormick has the relevant experience as a “Competent Person” as defined in the 2004 edition of the Australasian Code for Reporting of Mineral Resources and Ore Reserves in relation to the mineralisation reported on. Mr McCormick is Exploration Manager of Focus Minerals Ltd and consents to the inclusion of the material in the form and content in which it appears.

ENDS

Released by: On behalf of: Nicholas Read/Susan Bower Peter Williams, Managing Director Read Corporate (inc Jan Hope & Partners) Focus Minerals Ltd Telephone: (+61-8) 9388-1474 Telephone: (+61-8) 9215-7888 Web: www.focusminerals.com.au

BACKGROUND INFORMATION – FOCUS MINERALS LTD

Focus Minerals Ltd (ASX: FML ) is an Australian-based exploration and development group whose focus is to become a significant gold and nickel producer in the Coolgardie-KalgoorlieWidgiemooltha region of Western Australia.

Focus is currently fast tracking development of its wholly-owned Nepean Nickel Project (current estimated resource totaling 591,300t @ 2.2% Ni) located 25km south of Coolgardie. Focus has a view of recommencing mining operations from the historic production centre in 2008.

Through its Redemption Joint Venture with Canadian-based Committee Bay Resources Ltd, Focus Minerals is the largest landholder in the Coolgardie Gold Belt located in Western Australia, 560km east of Perth and 35km west of the ‘Super Pit’ in Kalgoorlie-Boulder. More than 2.6 million ounces of gold has been produced from the Coolgardie gold belt alone since 1892. The Redemption Joint Venture holds the mineral rights to more than 210sq km of tenements including Measured, Indicated and Inferred Resources exceeding 1.6 million ounces of gold as well as the 1.2mtpa Three Mile Hill processing plant.