FOCUS MINERALS LTD — Capital/Financing Update 2019

Apr 28, 2019

29 April 2019

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ASX Announcement

BEASLEY CREEK CONTINUES TO DELIVER HIGH-GRADE EXPLORATION RESULTS

West Australian gold explorer Focus Minerals ( ASX: FML ) ( Focus or the Company ) is pleased to announce high-grade gold intercepts including bonanza grades at Beasley Creek, part of the Company’s flagship Laverton Gold Project in the north-eastern Goldfields.

Following the resumption of resource drilling at Beasley Creek in January, Focus has now received assays results for the 36 holes drilled. Once again, Beasley Creek delivered high-value gold mineralisation including bonanza grades, which were intersected along a strike length of about 1.4km. Best intercepts included:

• 19BSRD008[1] – 13.00m @ 11.22g/t from 155m, including 1.7m @ 77.73g/t Au from 161.0m;

• 18BSDD017[1] – 20.20m @ 3.38g/t from 223.8m, including 0.9m @ 12.7g/t Au from 233.65m;

• 19BSDD004[1] – 10.50m @ 4.45g/t from 158.5m, including 1.33m @ 29.19g/t Au from 165.5m;

• 19BSDD004[1] – 4.45m @ 3.3g/t from 186m, including 0.35m @ 11.97g/t Au from 189.3m;

• 19BSDD002[1] – 6.27m @ 5.94g/t from 177.23m, including 0.84m @ 41.88g/t Au from 182.16m;

• 19BSDD002[1] – 4.80m @ 6.08g/t from 187m, including 0.33m @ 62.91g/t Au from 187.17m;

• 19BSRC004[1 ] – 6.00m @ 4.36g/t from 38m, including 0.35m @ 8.22g/t Au from 151.05m;

• 19BSRD026[1 ] – 4.90m @ 3.23g/t from 148.6m, including 1.0m @ 11.91g/t Au from 41.0m; and

• 19BSRD006[1] – 26.80m @ 2.15g/t from 177m, including 0.55m @ 19.7g/t Au from 199.4m.

Commenting on the latest high-grade hits at Beasley Creek, Focus Minerals CEO, Mr Zhaoya Wang, said:

“These high-value intersections support our geological model at Beasley Creek. Importantly, in this phase of resource development holes are in-filling as well as extending already located shoots at Beasley Creek. Resource drilling will continue at pace in the June 2019 quarter using four rigs ahead of a resource estimation in the September 2019 quarter.”

1 All lost core intervals included in the reported intersections have been fully diluted using 0g/t grade. Intersection has been calculated using 0.5g/t Au cut off and up to 3m Internal dilution.

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Beasley Creek Project

Beasley Creek is one of several high-grade deposits and prospects across Focus’ Laverton Gold Project, which covers a 507 square kilometre parcel of highly prospective tenements on the outskirts of the Laverton township, in Western Australia’s north-eastern Goldfields.

Beasley Creek is located around 10km north-west of the Laverton township and was mined by WMC in the late 1980s and early 1990s with ore processed at Windarra. The incomplete pit was wound up early because of a fall in gold price and pit design issues.

Since the cessation of mining, Beasley Creek was reassessed by Metex/Delta Gold in 1996/97 for potential satellite feed for Granny Smith. Crescent Gold (now Focus Minerals) completed resource drilling at 12-15m spacing at South Beasley Creek in 2010 but did not reassess the main pit area at that time.

Focus completed a highly successful drilling program at Beasley Creek in 2018 (see ASX announcement 30 January 2019). The 2018 drilling located high and bonanza-type gold grades located in six shoots beneath the historic open pit that was mined by WMC.

The majority of the mineralisation is hosted on the Beasley Creek Shear. The southern extension of the Beasley Creek Shear is offset west about 140m by the cross-cutting Fitton Fault Zone in the south pf the pit. The Fitton Fault Zone is also strongly mineralised and a target for follow-up resource drilling. Importantly, the southern extension of the Beasley Creek Shear was not tested successfully by past project owners and remains an attractive exploration target, with 400m-plus strike between Beasley Creek and Beasley Creek South.

Focus resumed reverse circulation (RC) and diamond resource development drilling at Beasley Creek on 16 Jan after a short break for Christmas. Four drills comprising three diamond rigs supported by one RC drill have been used for the majority of the reporting period.

Drill productivity from 16 January to 31 March comprised 5,915.83m, mostly HQ3, 575.3m Rock Roller (precollars) and 6,059.5m RC. The drilling has targeted the main structures defined in 2018 and with some infill of currently located VHG/high metal content shoots.

For the purposes of reporting mineralised intersections in this announcement, Focus has used a cut-off of 0.5g/t Au and up to 3m internal dilution. Furthermore, all core loss within calculated intersections has been assigned a fully diluted grade of 0.0g/t in order to provide conservative grade estimations.

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Figure 1: Laverton Project Locations

Page 3 of 13

Assays were received for 36 holes at Beasley Creek in the March Quarter 2019. Of these, 30 holes targeted the main structures namely:

Beasley Creek Shear
Intersection Details	Location	Core Loss %
18BSDD017 - 20.20m @ 3.38g/t from 223.8m (68.3GXM) 204.9m depth	Shoot 2	5.45
18BSDD019 - 8.73m @ 1.92g/t from 213.6m (16.8GXM) 172.9m depth	Between Shoots 2 &3	21.76
18BSDD020 - 17.35m @ 1.73g/t from 174.2m (30.0GXM) 125.0m depth	South of Shoot 3	11.82
19BSDD002 - 6.27m @ 5.94g/t from 177.23m (37.2GXM) 146.7m depth	Shoot 3	14.35
19BSDD002 - 4.80m @ 6.08g/t from 187m(29.2GXM) 154.0m depth	Shoot 3	18.75
19BSDD004 - 10.50m @ 4.45g/t 158.5m(46.7GXM)111.7m depth	Between Shoots 1 &2	8.57
19BSDD006 - 5.10m @ 2.64g/t from 174.9m(13.5GXM)143.4m depth	Between Shoots 1 &2	-
19BSRD001 - 10.80m @ 1.33g/t from 184.1m(14.4GXM)143.0m depth	Between Shoots 1 &2	9.26
19BSRD002 - 1.10m @ 0.65g/t from 187.4m(0.7GXM)152.4m depth	Between Shoots 2 &3	36.36
19BSRD002 - 0.75m @ 0.6g/t from 193m (0.4GXM) 156.8m depth	Between Shoots 2 &3	-
19BSRD003 - 16.00m @ 0.85g/t from 110m (13.6GXM) 93.72m depth	Between Shoots 1 &2	-
19BSRD004 - 22.91m @ 1.5g/t from 188.8m (34.4GXM) 171.0m depth	Between Shoots 1 &2	2.62
19BSRD006 - 26.80m @ 2.15g/t from 177m (57.6GXM) 158.6m depth	Shoot 1	4.48
19BSRD013 - 1.00m @ 2.74g/t from 133m (2.7GXM) 98.1m depth	North of Shoot 1	-
19BSRD014 - 16.93m @ 1.75g/t from 198.5m (29.6GXM) 179.7m depth	South of Shoot 3	6.20
19BSRD019 - 0.70m @ 0.73g/t from 200m (0.5GXM) 156.5m depth	Between Shoots 2 &3	-
19BSRD026 - 4.90m @ 3.23g/t from 148.6m(15.8GXM)129.8m depth	North of Shoot 1	4.08
19BSRD026 - 17.13m @ 1.19g/t from 164m(20.4GXM)148.2m depth	North of Shoot 1	18.97

Table 1: Beasley Creek Shear – 18 holes including one each into Lodes 1, 2 and 3

Fitton Fault Zone
Intersection Details	Location	Core Loss %
19BSRD007 - 3.00m @ 1.19g/t from 155m(3.6GXM)117.6m depth	Between Shoots 4 &5	-
19BSRD008 - 13.00m @ 11.22g/t from 155m(145.9GXM) 138.4m depth	Shoot 4	5.00
19BSRD010 - 8.79m @ 0.92g/t from 187.46m(8.1GXM)161.2m depth	Between Shoots 4 &5	6.83
19BSRD011 - 2.20m @ 2.02g/t from 205.7m(4.4GXM)180.2m depth	Between Shoots 4 &5	19.09
19BSRD012 - 18.45m @ 1.83g/t from 197m (33.8GXM) 161.6m depth	Shoot 5	4.61
19BSRD016 - 4.50m @ 1.49g/t from 199.6m (6.7GXM) 183.3m depth	Between Shoots 4 &5	13.33

Table 2: Fitton Fault Zone (Dextral Cross Fault at the South end of the historic pit) – 6 holes including one into each of Lodes 4 and 5

Beasley Creek South Extension
Intersection Details	Location	Core Loss %
19BSRC001 - 4.00m @ 1.91g/t from 139m(7.6GXM)108.4m depth		-
19BSRC010 - 7.00m @ 1.31g/t from 133m(9.2GXM)97.8m depth		-
19BSRC011 - 10.00m @ 0.59g/t from 134m(5.9GXM) 112.6m depth	Shoot 6	-
19BSRD005 - 3.12m @ 0.89g/t from 151.88m (2.8GXM) 135.5m depth		-

Table 3: Beasley Creek South Extension – 4 holes including one into Lode 6

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Beasley Creek Fault Zone

Beasley Creek Fault Zone	Beasley Creek Fault Zone	Beasley Creek Fault Zone
Intersection Details	Location	Core Loss %
19BSDD001 - 0.45m @ 0.61g/t from 115m(0.3GXM)71.8m depth	WNW Strike SW dipFZ	-
19BSDD003 - 0.85m @ 0.71g/t from 191m (0.6GXM) 158.1m depth	WNW Strike SW dip FZ	-
19BSDD003 - 1.00m @ 0.52g/t from 198m (0.5GXM) 164.08m depth	WNW Strike SW dip FZ	-
19BSDD005 - 12.93m @ 1.51g/t from 223.07m (19.5GXM) 189.2m depth	WNW Strike SW dip FZ	8.12
19BSRC004 - 5.00m @ 0.66g/t from 103m (3.3GXM) 96.3m depth	WNW Strike SW dip FZ	-
19BSRC007 - 1.00m @ 0.94g/t from 104m (0.9GXM) 91.2m depth	WNW Strike SW dip FZ	-
19BSRC007 - 1.00m @ 3.16g/t from 114m (3.2GXM) 99.9m depth	WNW Strike SW dip FZ	-

Table 4: Beasley Creek Fault Zone (WNW striking cross fault at the north end of the historic pit) – 6 holes

Consistent results received in the March Quarter validate the gross structural model for Beasley Creek. Furthermore, drilling between the main mineralised shoots has broadened the higher-value mineralisation along the Beasley Creek Shear.

During 2018 most diamond drilling at Beasley Creek was completed using mud rotary pre-collars as the dips used were not practical for conventional RC drilling. By comparison, more RC pre-collars were completed in the reporting period with assays indicating the presence of some hanging wall mineralisation. In response there has been some review of available diamond tails that could be sampled to assist with defining this mineralisation.

Beasley Creek Hanging Wall
Intersection Details	Core Loss %
19BSDD006 - 13.72m @ 1.43g/t from 115.08m (19.6GXM) 98.8m depth	-
19BSRD003 - 9.00m @ 1.84g/t from 171m (16.6GXM) 138.9m depth	-
19BSRD001 - 2.00m @ 4.21g/t from 168m (8.4GXM) 127.8m depth	-
18BSDD017 - 2.05m @ 2.68g/t from 205m (5.5GXM) 180.5m depth	-
18BSDD017 - 5.01m @ 0.99g/t from 215m (5.0GXM) 190.6m depth	2.00

Table 5: Beasley Creek significant hanging wall mineralisation intersections

Finally, several holes were pushed through to or directly targeted at footwall mineralisation, mostly at this stage located in the northern part of the pit and potentially extending west north-west. Several holes reported encouraging intersections. Please note the exact orientation of this footwall mineralisation is still being assessed. Furthermore, given the position of the historical OP and required hole orientations it is not easy to target this mineralisation at optimal angles to achieve true widths of mineralisation.

Beasley Creek Footwall
Intersection Details	Core Loss %
19BSRC004 - 6.00m @ 4.36g/t from 38m (26.2GXM) 37.3m depth	-
19BSRC006 - 20.00m @ 1.07g/t from 44m (21.4GXM) 41.5m depth	-
19BSDD003 - 5.46m @ 2.93g/t from 166m (16.0GXM) 139.3m depth	7.33
19BSDD004 - 4.45m @ 3.3g/t from 186m (14.7GXM) 128.4m depth	14.61
19BSDD001 - 7.90m @ 1.57g/t from 169m (12.4GXM) 107.5m depth	-

Table 6: Beasley Creek significant footwall mineralisation intersections

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19BSRC004
6.00m @ 4.36g/t from 38m, including
0.35m @ 8.22g/t Au from 151.05m
Beasley Creek Historic Open Pit Crest
GxM Legend
8 – 18 GxM
18 – 24 GxM
19BSRD026
24 – 60 GxM
+60 GxM 4.90m @ 3.23g/t from 148.6m, including
1.0m @ 11.91g/t Au from 41.0m
19BSDD004
10.50m @ 4.45g/t from 158.5m, including 19BSRD006
1.33m @ 29.19g/t Au from 165.5m 26.80m @ 2.15g/t from 177m, including
And 0.55m @ 19.7g/t Au from 199.4m
4.45m @ 3.3g/t from 186m, including
18BSDD017
0.35m @ 11.97g/t Au from 189.3m
20.20m @ 3.38g/t from 223.8m, including
A 0.9m @ 12.7g/t Au from 233.65m
19BSDD002
6.27m @ 5.94g/t from 177.23m, including
0.84m @ 41.88g/t Au from 182.16m
And
4.80m @ 6.08g/t from 187m, including
0.33m @ 62.91g/t Au from 187.17m
A’
19BSRD008
13.00m @ 11.22g/t from 155m, including
1.7m @ 77.73g/t Au from 161.0m
Beasley Creek Shear Southern Extension
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Figure 2: Beasley Creek plan of drilling results received in the March quarter 2019 with labelled shoots contoured by grade x width (GXM) and labelled gross structure cut to topography location of Section Line marked A – A’

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A North West South East A’
GxM Legend
8 – 18 GxM
18 – 24 GxM
24 – 60 GxM
+60 GxM
18BSDD020
17.35m @ 1.73g/t from 174.2m (30.0GXM)
Diluted by 11.8% Core Loss,
Intersection Depth 125.0m 100m
19BSDD002
6.27m @ 5.94g/t from 177.23m (37.2 GXM), including
0.84m @ 41.88g/t Au from 182.16m
Diluted by 14.3% Core Loss
Intersection Depth 145.7m
And
4.80m @ 6.08g/t from 187m (29.2GXM), including
0.33m @ 62.91g/t Au from 187.17m
Diluted by 18.8% Core Loss
Intersection Depth 154m 19BSRD014
16.93m @ 1.75g/t from 198.5m (29.6GXM),
Diluted by 6.2% Core Loss
Intersection Depth 179.7m
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Figure 3: Beasley Creek drill section A-A’ (±30m clipping) looking northeast, with contoured GxM draped on the Beasley Creek Shear, ~140m dextral offset Fitton FZ (Orange Dashed). Previous drill intersections are represented as small GxM coloured spheres

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19BSRC004
6.00m @ 4.36g/t from 38m, including
0.35m @ 8.22g/t Au from 151.05m
Beasley Creek Shear Southern Extension
Beasley Creek Shear
19BSRD026
4.90m @ 3.23g/t from 148.6m, including
1.0m @ 11.91g/t Au from 41.0m
19BSDD004
10.50m @ 4.45g/t from 158.5m, including
19BSRD008 1.33m @ 29.19g/t Au from 165.5m
13.00m @ 11.22g/t from 155m, And GxM Legend
including 4.45m @ 3.3g/t from 186m, including 8 – 18 GxM
1.7m @ 77.73g/t Au from 161.0m 0.35m @ 11.97g/t Au from 189.3m 18 – 24 GxM
24 – 60 GxM
19BSDD002 +60 GxM
19BSRD006
6.27m @ 5.94g/t from 177.23m, including
26.80m @ 2.15g/t from 177m, including
0.84m @ 41.88g/t Au from 182.16m And 18BSDD017 0.55m @ 19.7g/t Au from 199.4m 150m
4.80m @ 6.08g/t from 187m, including 20.20m @ 3.38g/t from 223.8m, including
0.33m @ 62.91g/t Au from 187.17m 0.9m @ 12.7g/t Au from 233.65m
n e p O
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Figure 4: Beasley Creek 3D mineralisation model to 200m depth from surface, looking west and slightly down at the open pit. Six highly mineralised shoots are interpreted to extend below the historic Beasley Creek open pit with mineralisation open at depth and along strike to the south/WNW. Contoured GxM has been overlain on the gross structural model as per the inset legend. The drill traces shown are for holes with assays received in the March quarter 2019.

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Table A: Significant Intersections – Beasley Creek in the March Quarter 2019

– JORC Code, 2012 Edition Table 1 Report

Hole ID	Easting	Northing	RL	Depth	Dip	Azimuth	From	To	Interval	Grade	Core Loss %
	(MGA 94 Zone 51)			(m)		(MGA94)	(m)	(m)	(m)	(g/t Au)
Beasley Creek March Quarter 2019 Significant Intersections
18BSDD017	434361.2	6838780.7	434.3	253.8	-60.3	291.3	195	196.08	1.08	1.05
							205	207.05	2.05	2.68
							210.5	210.85	0.35	1.50
							215	220.01	5.01	0.99	2
							223.8	244	20.2	3.38	5.45
18BSDD019	434361.2	6838780.7	434.2	240	-52.5	278.4	209.1	210	0.90	0.94
							213.6	222.33	8.73	1.92	21.76
18BSDD020	434259.3	6838591.5	433.2	214.5	-41.8	316.5	174.2	191.55	17.35	1.73	11.82
19BSDD001	434085.5	6839306.5	436.3	200.5	-38.3	190.5	115	115.45	0.45	0.61
							163	163.5	0.50	0.85
							169	176.9	7.9	1.57
							182.8	188.4	5.60	0.63	7.14
19BSDD002	434260.7	6838596.0	433.3	201	-54.7	317.1	177.23	183.5	6.27	5.94	14.35
							187	191.8	4.8	6.08	18.75
19BSDD003	434023.5	6839041.2	430.3	247.1	-55.7	70.4	166	171.46	5.46	2.93	7.33
							175.3	179.6	4.30	0.97	25.58
							191	191.85	0.85	0.71
							198	199	1.00	0.52
19BSDD004	434318.5	6838940.2	434.7	208.5	-43.0	257.5	127	127.21	0.21	1.63
							148.35	149.2	0.85	2.39
							152.4	153.1	0.70	0.55
							154.2	154.35	0.15	2.31
							158.5	169	10.5	4.45	8.57
							172.6	173.3	0.70	1.16
							178.6	179.05	0.45	1.05
							186	190.45	4.45	3.3	14.61
19BSDD005	434024.5	6839041.6	430.3	307.6	-55.9	101.5	223.07	236	12.93	1.51	8.12
19BSDD006	434319.6	6838940.1	434.7	229.8	-54.2	250.0	99	104	5.00	0.51	1.4
							108.41	109.8	1.39	0.69
							115.08	128.8	13.72	1.43
							133	135.9	2.90	0.76
							164	171	7.00	0.78	5.71
							174.9	180	5.1	2.64
							186.79	188.9	2.11	2.50
19BSRC001	434062.7	6838535.4	434.3	162	-50.0	321.9	139	143	4	1.91
19BSRC002	434012.2	6839320.0	436.3	138	-49.8	199.6	76	77	1.00	1.28
19BSRC003	433940.8	6839280.4	435.7	102	-49.7	33.7	14	15	1.00	0.55
							21	22	1.00	0.72
							24	25	1.00	0.52
							29	31	2.00	2.60
19BSRC004	433934.4	6839269.5	435.8	174	-65.5	30.3	17	18	1.00	1.92
							30	34	4	1.75
							38	44	6	4.36
							103	108	5.00	0.66
19BSRC005	433920.5	6839328.8	435.6	102	-50.2	13.1	30	31	1.00	0.70
19BSRC006	433865.4	6839342.5	435.1	144	-50.1	11.1	44	64	20	1.07
19BSRC007	433855.2	6839309.7	435.3	132	-60.6	11.1	104	105	1.00	0.94
							114	115	1.00	3.16
19BSRC009	433944.1	6839306.8	435.7	42	-49.9	216.5	6	7	1.00	0.78
							10	11	1.00	0.57
							13	14	1.00	0.89
							19	20	1.00	2.77
							28	30	2.00	0.98
19BSRC010	434113.0	6838411.4	432.6	174	-49.4	267.5	95	96	1.00	0.84
							133	140	7	1.31
19BSRC011	434081.6	6838526.5	434.4	174	-56.1	302.0	113	120	7.00	0.65
							124	125	1.00	0.52
							134	144	10.00	0.59
							156	158	2.00	0.61

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Hole ID	Easting	Northing	RL	Depth	Dip	Azimuth	From	To	Interval	Grade	Core Loss %
	(MGA 94 Zone 51)			(m)		(MGA94)	(m)	(m)	(m)	(g/t Au)
Beasley Creek March Quarter 2019 Significant Intersections
19BSRC012	434083.6	6838529.8	434.4	138	-50.0	307.7	129	132	3.00	0.88
19BSRD001	434341.9	6838877.2	434.8	223.8	-50.7	268.2	168	170	2	4.21
							184.1	194.9	10.8	1.33	9.26
							200.19	208.2	8.01	0.80	26.22
19BSRD002	434318.9	6838780.7	434.2	210	-53.8	283.3	78	79	1.00	0.87
							86	87	1.00	0.58
							168.8	169.1	0.30	6.38
							187.4	188.5	1.10	0.65	36.36
							193	193.75	0.75	0.60
19BSRD003	434321.8	6838940.9	434.7	180	-54.4	251.8	74	75	1.00	1.13
							101	105	4.00	0.64
							110	126	16	0.85
							171	180	9	1.84
19BSRD004	434341.5	6838874.5	434.7	229.9	-61.6	265.3	172.09	172.36	0.27	0.53
							172.8	173	0.20	0.62
							173.9	174.45	0.55	0.62
							177	177.7	0.70	0.50
							179.5	183.6	4.10	0.54	7.32
							188.8	211.71	22.91	1.5	2.62
19BSRD005	434108.1	6838451.9	433.4	169.94	-63.4	274.3	51	52	1.00	0.56
							151.88	155	3.12	0.89
19BSRD006	434342.4	6838879.8	434.8	226.9	-57.2	275.7	69	70	1.00	1.95
							177	203.8	26.8	2.15	4.48
							208	214	6.00	0.72
19BSRD007	434157.3	6838546.0	434.3	187.5	-51.2	346.3	144	148.88	4.88	0.94
							155	158	3.00	1.19
19BSRD008	434155.6	6838545.3	434.2	179	-59.5	354.1	139	141	2.00	0.83	20
							150	151	1.00	0.55
							155	168	13	11.22	5
19BSRD010	434194.4	6838473.4	433.0	225.4	-56.0	335.0	34	35	1.00	1.05
							187.46	196.25	8.79	0.92	6.83
19BSRD011	434197.2	6838470.9	432.9	236	-58.2	351.4	103	104	1.00	1.26
							205.7	207.9	2.20	2.02	19.09
19BSRD012	434195.4	6838469.4	432.9	259.9	-48.6	322.1	197	215.45	18.45	1.83	4.61
19BSRD013	434298.8	6839008.8	435.1	213.3	-49.7	251.7	102	103	1.00	0.67
							111	112	1.00	0.82
							133	134	1.00	2.74
19BSRD014	434299.6	6838588.7	433.3	229.9	-60.7	283.2	187.7	188.16	0.46	2.09
							192.9	194.5	1.60	1.60
							198.5	215.43	16.93	1.75	6.2
19BSRD016	434198.2	6838474.3	433.1	269.1	-66.6	344.9	190.7	195.1	4.40	1.52
							199.6	204.1	4.50	1.49	13.33
							208.16	209	0.84	2.14
19BSRD019	434309.8	6838670.6	433.5	235.8	-54.1	298.5	192.98	195.35	2.37	1.56
							200	200.7	0.70	0.73
19BSRD026	434300.1	6839006.7	435.0	182.07	-60.5	238.9	117	122.92	5.92	1.03	3.38
							138.25	144.4	6.15	1.10	4.88
							148.6	153.5	4.9	3.23	4.08
							164	181.13	17.13	1.19	18.97

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Section 1 Sampling Techniques and Data

(Criteria in this section apply to all succeeding sections.)

Criteria	Explanation
Sampling techniques	This report relates to results from Reverse Circulation (RC) and diamond core drilling. RC Sampling • RC percussion drill chips were collected through a cone splitter from the drill rig. The bulk sample from drilling was placed in neat rows directly on the ground (not bagged) with the nominal 2-3kg calico split sub-sample placed on top of the corresponding pile. • RC chips were passed through a cone splitter to achieve a nominal sample weight of approximately 3kg. The splitter was levelled at the beginning of each hole. Geological logging defined whether a sample was to be submitted as a 1m cone split sample or a 4m spear composite sample. Split samples (1m) were transferred to sample numbered calico bags for submission to the laboratory. Composite samples were spear sampled using a scoop to obtain a small representative sample and deposited into numbered sample bags. Diamond Sampling • Diamond core was sampled across geologically identified zones of mineralisation, the sample widths varied between a minimum of 0.2m and a maximum of 1.2m with material on either side sampled to capture the entire mineralised zone. • The diamond core was marked up for sampling by the supervising geologist during the core logging process, with sample intervals determined by the presence of lithology, alteration and where applicable core loss. The core was cut in half using a core saw and the same half of the core (RHS looking downhole) was routinely sent to the laboratory for analysis. Some soft core was half sampled by using a bolster, and some fractured quartz core were cut in half by using manual diamond core saw to ensure half core was sampled. • A small number of whole core samples where routinely collected for bulk density analysis. These samples were submitted to the same lab for gold analysis after bulk density measurement.
Drilling techniques	• RC drilling was conducted using a 5 3/8 or 4 1/2 inch face sampling hammer for RC drilling. • At hole completion, downhole surveys for RC holes were completed at a 10m interval by using True North Seeking Gyro tool. • At hole completion diamond holes were survey using a single shot tool at a range of intervals between 20m and 50m, averaging 30m • Diamond drill holes with dips less than 50 degrees were collared from surface to a predetermined depth using a rock roller bit. • Where possible on holes with dips more than 50 degrees an RC precollar was completed to improve drilling efficiency. • All precollars where cased off and the diamond component of the drill hole completed using HQ3 (producing 63mm core diameter) equipment. • Wherever core conditions and hole orientation would allow, drill core was oriented by the drilling contractor using the electronic ACT III Tool.
Drill sample recovery	• RC sample recovery was recorded by a visual estimate during the logging process. • DD sample recovery was measured and calculated (core loss) during the logging process. DD core had generally reasonable recovery <10% core loss in and around mineralisation. Some holes had more than 14% core loss. Where this core loss was experienced around HG and VHG it likely had a material impact on the calculated intersectiongrade as all core loss was fully diluted and assigned agrade of 0.0g/t Au.

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Criteria	Explanation
Logging	•All RC samples were geologically logged to record weathering, regolith, rock type, colour, alteration, mineralisation, structure, texture and any other notable features that are present. All data is entered directly into validating digital software directly. •All core samples were oriented where possible, marked into metre intervals and compared to the depth measurements on the core blocks. Any loss of core was noted and recorded in the drilling database. •All diamond core was logged for structure, geology and geotechnical data using the same system as that for RC. •Logging was qualitative, however the geologists often recorded quantitative mineral percentage ranges for the sulphide minerals present. •The logging information was transferred into the company’s drilling database once the log was complete. • Diamond core was photographed one core tray at a time using a standardised photography jig. RC chip trays are routinely photographed. • The entire length of all holes is geologically logged, except for rock roller diamond pre- collars, whichproduce no sample.
Sub-sampling techniques and sample preparation	• All samples were collected in a pre-numbered calico bag bearing a unique sample ID. • At the assay laboratory, all samples were oven dried, crushed to a nominal 10mm using a jaw crusher (core samples only) and weighed. Samples in excess of 3kg in weight were riffle split to achieve a maximum 3kg sample weight before being pulverized to 90% passing 75μm. •Gold analysis was by 40g Fire Assay with an AAS Finish. •Jinning Testing & Inspection completed the assay testing, with sample preparation completed in Kalgoorlie or Perth and analysis completed in Perth. •The assay laboratories’ sample preparation procedures follow industry best practice, with techniques and practices that are appropriate for this style of mineralisation. Pulp duplicates were taken at the pulverising stage and selective repeats conducted at the laboratories’ discretion. •QAQC checks involved inserting standards 1:20 samples (with minimum 3 standards every submission). Duplicate samples for RC were achieved by producing 2 samples for each metre one hole every 20th hole drilled and submitting all produced samples. The remaining bulk sample was also bagged to plastic bags for retention and further checks. Diamond core field duplicates were not taken. •Regular reviews of the sampling were carried out by the supervising geologist and senior field staff, to ensure all procedures were followed and best industry practice carried out. •The sample sizes were appropriate for the type, style and consistency of mineralisation encountered during this phase of exploration.
Quality of assay data and laboratory tests	•The assay method and laboratory procedures were appropriate for this style of mineralisation. The fire assay technique was designed to measure total gold in the sample. •No geophysical tools, spectrometers or handheld XRF instruments were used for assay determination. •The QA/QC process described above was sufficient to establish acceptable levels of accuracy and precision. All results from assay standards and duplicates were scrutinised to ensure they fell within acceptable tolerances and where they didn’t further analysis was conducted as appropriate. •Umpire samples are collected on a routine basis will be submitted to independent ISO certified labs in 2019 •Additional bulk mineralised RC samples have also been collected and retained for follow up QAQC, metallurgical and sample characterisationpurposes
Verification of sampling and assaying	•Significant intervals were visually inspected by company geologists to correlate assay results to logged mineralisation. Consultants were not used for this process. •Primary logging data is sent in digital format to the company’s Database Administrator (DBA) as often as was practicable. The DBA imports the data into an acQuire database, with assay results merged into the database upon receipt from the laboratory. Once loaded, data was extracted for verification by the geologist in charge of the project.

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Criteria	Explanation
Location of data points	•Drill collars are surveyed after completion using a DGPS instrument. Where possible, all drill core was oriented by the drilling contractor using an ACT III electronic system. •A True North Seeking Gyro for RC end of holes surveys or a Reflex single shot camera for diamond drilling was used for “single shot” surveys whilst advancing drilling. •All coordinates and bearings use the MGA94 Zone 51 grid system. •FML utilises Landgate sourced regional topographic maps and contours as well as internally produced survey pick-ups produced by the mining survey teams utilising DGPS base station instruments. •After completion the drill hole locations were picked up by DGPS with accuracy of +/- 20cm.
Data spacing and distribution	•Beasley Creek drilling was completed at 40m x 40m spacing •Spacing for both programs is deemed to be appropriate for the stage of exploration of the targets.
Orientation of data in relation to geological structure	• Drilling was designed based on known/developing geological models, field mapping, verified historical data, cross-sectional and long-sectional interpretation. • Where achievable, drill holes were oriented at right angles to strike of deposit, with dip optimised for drill capabilities and the dip of the ore body. Please note this was not always possible in the NW part of the pit where relatively complex mineralisation has been intersected in the footwall of the Beasley Creek Shear. • True widths have not been calculated for reported intersections. However, drill orientation was where ever possible consistently optimised to approximate true width of mineralisation.
Sample security	• All samples were reconciled against the sample submission with any omissions or variations reported to FML. • All samples were bagged in a tied numbered calico bag. The bags were placed into plastic green bags with a sample submission sheet and delivered directly from site to the Kalgoorlie laboratories by FMLpersonnel at completion of each hole.

Section 2 Reporting of Exploration Results

(Criteria listed in the preceding section also apply to this section.)

Criteria	Explanation
Mineral tenement and land tenure status	• The drilling was conducted on tenements 100% owned by Focus Minerals (Laverton) Pty Ltd. • All tenements are in good standing. • There are currently no registered Native Title claims over the Laverton project areas.
Exploration done by other parties	• Beasley Creek was formerly mined as an open pit to about 80m depth by WMC in the late 80’s/early 90’s. Later exploration has been performed by Metex/Delta Gold 96/97 and then Crescent Gold in 2010.
Geology	• Mineralisation at Beasley Creek is located on the Beasley Creek Shear Zone and cross cutting Fitton FZ. The Beasley Creek SZ is deeply weathered to at least 150m depth with gold mineralisation hosted in: • saprolitic clays, • saprock of hydrothermally brecciated sediments, conglomerates and minor black shale, • iron stone after gossan, • laminated veins and, • breccia vein infill.
Drill hole information	See Table A
Data aggregation methods	• New exploration results - mineralised intersections are reported at a 0.5g/t Au cut-off with a minimum reporting width of 1m and up to 3m internal dilution. The length weighted average grades from diamond core can include measured intervals of core loss. Any intervals of core loss incorporated into a significant intersection is fully diluted with an assignedgrade of 0.0g/t Au.
Relationship between mineralization widths and intercept lengths	• Holes were drilled orthogonal to mineralisation as much as possible, however the exact relationship between intercept width and true width cannot be estimated exactly in all cases. • Furthermore, no intersections are represented as calculated true widths in this report
Diagrams	• Accurate collar plans are included in this announcement. 3D perspective views and schematic cross-sections are included to illustrate the distribution ofgrade

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Criteria	Explanation
Balanced reporting	• Drilling results are reported in a balanced reporting style. The ASX announcement shows actual locations of holes drilled, and representative sections as appropriate.
Other substantive exploration data	• There is no other material exploration data to report at this time.
Further work	• FML anticipates additional drilling to follow up on encouraging results in Laverton.

For further information please contact:

Zaiqian Zhang Chief Financial Officer Focus Minerals Ltd Phone: +61 8 9215 7888

About Focus Minerals Limited (ASX: FML)

Focus is a Perth-based, ASX-listed gold exploration company focused on delivering shareholder value from its Laverton Gold Project, in Western Australia’s north-eastern Goldfields. The Laverton project covers 507km[2] area of highly prospective ground that includes the historic Lancefield and Chatterbox Trend mines. Focus’ priority target is to confirm the extent of gold mineralisation at deposits Beasley Creek and Lancefield Thrust and advance the Sickle, Ida-H and Karridale-Burtville prospects and targets.

Focus also owns the non-core Coolgardie Gold Project, also in the Goldfields, which includes a 1.2Mtpa processing plant at Three Mile Hill. The plant is on care and maintenance

Competent Person’s Statement

The information in this announcement that relates to Exploration Results is based on information compiled by Alex Aaltonen MAUSIMM. 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.

Forward Looking Statements

This release contains certain “forward looking statements”. Forward-looking statements can be identified by the use of ‘forward-looking’ terminology, including, without limitation, the terms ‘believes’, ‘estimates’, ‘anticipates’, ‘expects’, ‘predicts’, ‘intends’, ‘plans’, ‘propose’, ‘goals’, ‘targets’, ‘aims’, ‘outlook’, ‘guidance’, ‘forecasts’, ‘may’, ‘will’, ‘would’, ‘could’ or ‘should’ or, in each case, their negative or other variations or comparable terminology. These forward-looking statements include all matters that are not historical facts. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors because they relate to events and depend on circumstances that may or may not occur in the future, assumptions which may or may not prove correct, and may be beyond Focus’ ability to control or predict which may cause the actual results or performance of Focus to be materially different from the results or performance expressed or implied by such forward-looking statements. Forward-looking statements are based on assumptions and contingencies and are not guarantees or predictions of future performance. No representation is made that any of these statements or forecasts will come to pass or that any forecast result will be achieved. Similarly, no representation is given that the assumptions upon which forward-looking statements may be based are reasonable. Forward-looking statements speak only as at the date of this document and Focus disclaims any obligations or undertakings to release any update of, or revisions to, any forward-looking statements in this document.

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