FOCUS MINERALS LTD — Capital/Financing Update 2009

Feb 11, 2009

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ASX Release 12 February 2009

80% INCREASE IN GOLD RESOURCES AT BRILLIANT DEPOSIT, COOLGARDIE

KEY POINTS

• New estimated Indicated and Inferred Resources totaling 3.1Mt @ 2.4g/t Au for 240,100oz of contained gold

• Includes estimated Indicated Resource of 1.93Mt at 2.2g/t Au for 134,400oz

• Upgraded resource to be incorporated into ongoing Scoping Studies to ascertain synergies of mining the Brilliant deposit in conjunction with the Perseverance and Countess deposits

• In conjunction with ongoing studies of other deposits at the Coolgardie Gold Project, the resource upgrade furthers the Company’s medium term aim of refurbishing the 1.2Mtpa Three Mile Hill processing plant

• New resource model based on validation of historical data combined with recent RC drilling conducted last Quarter

• Deposit remains open at depth and along strike to the north

Australian-based gold producer Focus Minerals Ltd (ASX: FML ) is pleased to announce a substantial increase in Indicated and Inferred Resources at the Company’s Brilliant Gold Project , located 1.5km south-east of Coolgardie in Western Australia.

The updated JORC compliant resource for the Brilliant Project totals 3.1Mt @ 2.4g/t Au for 240,100 contained ounces, comprising:

• an estimated Indicated Resource of 1.93Mt @ 2.2g/t for 134,400 contained ounces ; and

• an approximate Inferred Resource of 1.15Mt @ 2.9g/t for 105,700 contained ounces .

This represents an 80% increase on the previously announced Inferred Resource of an estimated 1.93Mt @ 2.2g/t for 130,800 contained ounces.

Level 10, Exchange House, 68 St Georges Terrace, Perth, Western Australia 6000 • PO Box Z5422, Perth WA 6831

• Phone: +61 8 9215 7888 • Fax: +61 8 9215 7889

• •ABN 56 005 470 799 • admin@focusminerals.com.au • www.focusminerals.com.au

Coolgardie Project - Sustainability

The revised Brilliant resource, in combination with other deposits within the Coolgardie Gold Project has increased Focus’ resource base in the Coolgardie Region to 1.8M ounces at an average grade of 2.5g/t. This adds further weight to Focus’ plans to increase the life of the Coolgardie Gold Project.

Ore is currently being treated through a third party mill, the nearby Greenfields gold plant, however Focus’ broader development strategy has always been to re-commission Three Mile Hill as a centrally located gold treatment facility to provide long-term cost effective processing capability.

Brilliant Resource Model

The revised Brilliant Resource model (Table 1) is based on validation of historic Brilliant data and recent Reverse Circulation (RC) drilling (Appendix 1).

This has had a significant impact on the new geological model with the Resource comprising 29 lodes that are broken up in to 3 groups. The main lodes (11 in total) strike 340 and dip 80°E, the East Lodes (13 in total) strike 330 and dip 80°NE and the NE Lodes (5 in total) strike 340 and dip 30°E.

The deposit remains open at depth and along strike to the north-northeast.

Table 1 Brilliant Resource

Indicated	Category	Tonnes	Au g/t	Ounces
	Oxide	315,000	2.2	22,600
	Transitional	149,000	2.3	10,800
	Fresh	1,463,000	2.1	101,100
	Total	1,927,000	2.2	134,400
Inferred	Oxide	48,000	1.8	2,700
	Transitional	31,000	2.0	1,900
	Fresh	1,067,000	3.0	101,000
	Total	1,146,000	2.9	105,700

Level 10, Exchange House, 68 St Georges Terrace, Perth, Western Australia 6000 • PO Box Z5422, Perth WA 6831 • Phone: +61 8 9215 7888 • Fax: +61 8 9215 7889

• •ABN 56 005 470 799 • admin@focusminerals.com.au • www.focusminerals.com.au

Notes to accompany the Mineralised Resource Statement

Brilliant is hosted predominantly in a suite of porphyry dykes that intruded a basalt and ultramafic sequence. The porphyries host the bulk of the mineralisation, occurring in two orientations; steeply dipping (80°E) with an average width of 3-5m, or flatter dipping (30°E) with widths up to 50m. Mineralisation consists of a stockwork of quartz/sulphide microveinlets and albitic alteration of the porphyry.

In mid 2008 validation of all historical data was undertaken. Once complete a revised geological interpretation was completed.

From the revised interpretation a drill program was designed and implemented to test the interpretation. It also provided QAQC data to test the validity of the historical assay data, as very little QAQC data was found during validation. 40 Reverse Circulation (RC) holes for a total of 2141m were drilled and assayed during the December 2008 Quarter.

The interpretation was updated and a new resource model created based on this additional drilling.

The February 2009 resource is much larger than the historical resource inherited from Herald (1996) as a result of an increase in confidence and additional mineralisation discovered in the Eastern and NE Lodes.

Drilling Information

The resource was calculated from a total of 568 RC holes and 8 Diamond holes for a total of 51,284m.

A drill spacing of 25m x 25m (or less) was determined to be sufficient to classify indicated resources, while a drill spacing up to 60m x 60m was deemed to be sufficient to classify inferred resources.

All historical drill collars have been surveyed in local grid co-ordinates, while all Company drilling was surveyed using surveying contractors in GDA94 co-ordinates.

The majority of drill holes have either been surveyed by Eastman single-shot camera or electronic multi-shot (EMS), while those holes that had not been surveyed were assumed to be based on hole set out orientations. All Focus Minerals Ltd drilling was surveyed by either EMS or gyroscopic down hole surveying equipment..

All drilling has been logged (lithology, alteration, structure, veining and mineralisation) in detail and stored in electronic databases after been validated.

RC samples were generally sampled on one metre intervals, although some historic holes showed composite sampling that has not been re-sampled on a one metre basis. It has been assumed that historic one metre sampling has been undertaken via a riffle splitter, as is still the case now. It is unsure how the composite sampling for historic drilling was done, but it was assumed that it was most likely by a PVC ‘spear’ method such as Focus Minerals Ltd use now (and which was common practice in many drilling programs in the past). Focus Minerals Ltd QAQC samples included standards, blanks and field duplicates, which were submitted with each drill hole.

For the historic diamond core, the majority of sample intervals were one metre, with some intervals sampled to geological boundaries. The core was cut in half, with only half been submitted for assaying.

The majority of the historical drilling was assayed using the Fire Assay method at the Australian Assay Laboratories (AAL) with some inter lab checks completed at Minelabs. Focus Minerals Ltd use 40g Aqua Regia Digest with ICP-MS finish method for the composites (4m), with all 1m resplits for composites above 0.2g/t assayed using 40g Fire Assay with ICP-MS finish method at the Kalgoorlie Assay Laboratories (KalAssay).

Geological Model

The geological interpretation (geology, mineralisation, base of complete oxidation and top of fresh rock) and the resource estimation were conducted internally. The mineralised interpretation was based on a nominal 0.5g/t cut off. Internal dilution was generally restricted to a maximum of two consecutive metres, although some lower grade zones were included to allow continuity of the mineralised interpretation with geology.

Level 10, Exchange House, 68 St Georges Terrace, Perth, Western Australia 6000 • PO Box Z5422, Perth WA 6831

• Phone: +61 8 9215 7888 • Fax: +61 8 9215 7889

• •ABN 56 005 470 799 • admin@focusminerals.com.au • www.focusminerals.com.au

Samples within individual wireframes were composited to 2m intervals. The composites were used to determine the necessary top cuts. The main and eastern lodes were estimated with a 20g/t top cut, while the NE lodes were estimated using a top cut of 12g/t. Variography was conducted for all zones that had a sufficient number of samples to determine likely ranges and preferred search directions. The variography indicated low to moderate nugget values with a shallow plunge to the north.

The model was generated using the Ordinary Kriging (OK) estimation method as a first pass for the lodes that produced suitable variograms (the main and eastern lodes). The Inverse Squared (ID[2] ) estimation technique was used for the first pass estimation of the shallow dipping NE lodes due to the structural complexity in this area and the low number of samples within the wireframes. The Inverse Squared (ID[2] ) estimation technique was also used as a second pass, with increased search parameters and reduced sample numbers, to ensure all blocks within the wireframes were filled (these blocks were classified as Inferred Resources).

Bulk densities of 1.8, 2.4 and 2.7 t/m3 were applied to the oxide, transitional and fresh ore types respectively. These values were assumed based on values used from similar deposits throughout the Goldfields. No historical density measurements were found.

The reported grades, tonnages and contained ounces are rounded to appropriate levels of precision in accordance with the recommendations of the JORC code. Reported Resource has taken into account existing open pit and topography.

The resource has been reported at a 1g/t lower cut-off grade.

Level 10, Exchange House, 68 St Georges Terrace, Perth, Western Australia 6000 • PO Box Z5422, Perth WA 6831 • Phone: +61 8 9215 7888 • Fax: +61 8 9215 7889

• •ABN 56 005 470 799 • admin@focusminerals.com.au • www.focusminerals.com.au

Figure 1 Plan and long section of the Brilliant Resource. The plan shows the location of the 2 cross sections.

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Level 10, Exchange House, 68 St Georges Terrace, Perth, Western Australia 6000 • PO Box Z5422, Perth WA 6831 • Phone: +61 8 9215 7888 • Fax: +61 8 9215 7889

• •ABN 56 005 470 799 • admin@focusminerals.com.au • www.focusminerals.com.au

Figure 2 - Cross Section #1 showing mineralisation across the Brilliant deposit and recent drilling.

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Figure 3 - Cross Section #2 showing mineralisation across the Brilliant deposit and recent drilling.

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Level 10, Exchange House, 68 St Georges Terrace, Perth, Western Australia 6000 • PO Box Z5422, Perth WA 6831 • Phone: +61 8 9215 7888 • Fax: +61 8 9215 7889

• •ABN 56 005 470 799 • admin@focusminerals.com.au • www.focusminerals.com.au

ENDS

Released by: On behalf of: Nicholas Read/Jason Cunningham Peter Williams, Managing Director Read Corporate Focus Minerals Ltd Telephone: (+61-8) 9388-1474 Telephone: (+61-8) 9215-7888 www.readcorporate.com.au Web: www.focusminerals.com.au

COMPETENT PERSON’S STATEMENT

The information in this report relating to Resources is based on work supervised by Dr Garry Adams who is a member of the Australasian Institute of Mining and Metallurgy (AusIMM). Dr. Adams 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 being reported. Dr. Adams is Exploration Manager of Focus Minerals Ltd and consents to the inclusion of the material in the form and content in which it appears.

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-Kalgoorlie-Widgiemooltha region of Western Australia.

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. Focus holds the mineral rights to more than 210sq km of tenements including an extensive inventory of Measured, Indicated and Inferred gold resources as well as the 1.2mtpa Three Mile Hill processing plant.

The Company commenced maiden commercial gold production in April 2008 through ore sourced from the Company’s flagship Perseverance Deposit (Probable Reserve of 129,000oz). Earlier this year, the nearby Countess Deposit (Probable Reserve of 29,000oz) was also brought into production with all milling currently being undertaken at the nearby Greenfields treatment plant, whereby Focus has a priority toll treatment agreement with Higginsville Mining.

Level 10, Exchange House, 68 St Georges Terrace, Perth, Western Australia 6000 • PO Box Z5422, Perth WA 6831 • Phone: +61 8 9215 7888 • Fax: +61 8 9215 7889

• •ABN 56 005 470 799 • admin@focusminerals.com.au • www.focusminerals.com.au

- Appendix 1 Brilliant Resource Drilling Results

Hole Number	Northing	Easting	RL	Azimuth	Dip	Total Depth	From (m)	To (m)	Width (m)	Grade (g/t Au)
TNDC0001	6572380	326516	412	250	-58	60	38.00	43.00	5.00	3.12
TNDC0003	6572395	326515	411	250	-58	76	13.00	18.00	5.00	5.19
							56.00	57.00	1.00	4.29
							59.00	60.00	1.00	11.83
TNDC0005	6572421	326517	411	250	-60	60	33.00	34.00	1.00	2.15
							36.00	37.00	1.00	1.56
							46.00	51.00	5.00	2.55
TNDC0007	6572440	326509	410	250	-60	82	36.00	37.00	1.00	1.61
							40.00	41.00	1.00	1.18
							43.00	46.00	3.00	6.14
							49.00	50.00	1.00	2.07
							68.00	69.00	1.00	2.53
TNDC0010	6572480	326499	410	250	-60	52	33.00	41.00	8.00	4.85
							43.00	44.00	1.00	1.32
TNDC0011	6572495	326487	410	250	-58	72	13.00	14.00	1.00	1.78
							16.00	19.00	3.00	2.93
							29.00	30.00	1.00	1.18
							31.00	32.00	1.00	1.19
TNDC0012	6572526	326540	414	250	-60	76	14.00	15.00	1.00	1.35
							20.00	21.00	1.00	5.39
							35.00	36.00	1.00	1.96
							53.00	56.00	3.00	3.39
							65.00	66.00	1.00	2.02
TNDC0014	6572540	326505	413	250	-60	45	3.00	4.00	1.00	1.06
							6.00	7.00	1.00	1.98
TNDC0016	6572565	326495	414	250	-60	68	44.00	45.00	1.00	6.34
							59.00	61.00	2.00	10.26
TNDC0024	6572945	326192	407	70	-60	45	3.00	5.00	2.00	1.14
							20.00	27.00	7.00	1.64
TNDC0025	6572960	326195	407	250	-55	25	5.00	8.00	3.00	1.55
TNDC0026	6572965	326205	407	250	-55	40	19.00	23.00	4.00	1.71
TNDC0030	6571880	326461	417	275	-60	31	14.00	20.00	6.00	1.22
TNDC0031	6571900	326466	417	270	-60	32	13.00	16.00	3.00	2.08
TNDC0032	6571915	326480	418	270	-60	40	28.00	33.00	5.00	1.26
TNDC0033	6571935	326473	417	270	-60	30	10.00	11.00	1.00	4.49
							18.00	19.00	1.00	1.17
TNDC0034	6571945	326495	418	270	-60	55	11.00	12.00	1.00	2.20
							34.00	37.00	3.00	1.15
							41.00	43.00	2.00	3.01
TNDC0039	6572004	326525	410	250	-80	80	24.00	34.00	10.00	2.85
							37.00	38.00	1.00	1.10
							62.00	63.00	1.00	1.48
TNDC0048	6572975	326300	406	160	-60	64	24.00	47.00	23.00	4.69

Level 10, Exchange House, 68 St Georges Terrace, Perth, Western Australia 6000 • PO Box Z5422, Perth WA 6831

• Phone: +61 8 9215 7888 • Fax: +61 8 9215 7889

• •ABN 56 005 470 799 • admin@focusminerals.com.au • www.focusminerals.com.au

Hole Number	Northing	Easting	RL	Azimuth	Dip	Total Depth	From (m)	To (m)	Width (m)	Grade (g/t Au)
TNDC0049	6572956	326315	406	160	-60	55	31.00	38.00	6.00	4.93
TNDC0050	6572960	326305	406	160	-60	50	13.00	15.00	2.00	4.70
							30.00	36.00	6.00	6.53
TNDC0052	6572909	326362	406	340	-60	90	49.00	64.00	15.00	2.31
TNDC0060	6572942	326396	405	250	-60	82	60.00	62.00	2.00	3.51
							67.00	68.00	1.00	2.21
							71.00	73.00	2.00	1.59
TNDC0061	6572966	326348	406	160	-60	85	45.00	47.00	2.00	2.07
							50.00	51.00	1.00	1.37
							54.00	61.00	7.00	5.64
							63.00	65.00	2.00	2.04
							72.00	74.00	2.00	2.72
TNDC0062	6572963	326331	406	160	-60	76	15.00	16.00	1.00	1.28
							56.00	63.00	7.00	3.58
TNDC0063	6572960	326318	406	250	-60	52	21.00	32.00	11.00	5.61
TNDC0064	6572977	326320	406	240	-60	64	19.00	20.00	1.00	1.12
							34.00	44.00	10.00	3.82

Level 10, Exchange House, 68 St Georges Terrace, Perth, Western Australia 6000 • PO Box Z5422, Perth WA 6831 • Phone: +61 8 9215 7888 • Fax: +61 8 9215 7889

• •ABN 56 005 470 799 • admin@focusminerals.com.au • www.focusminerals.com.au