FOCUS MINERALS LTD — Earnings Release 2008

Jun 10, 2008

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Two Goals, One Focus

Making Sustainable Gold and Nickel Production a reality

ASX RELEASE 11 June, 2008

FOCUS DELIVERS FURTHER HIGH-GRADE GOLD PRODUCTION AT COOLGARDIE PROJECT, WESTERN AUSTRALIA

5,800 tonnes of Perseverance ore grading 9.0 g/t producing 1,520 ounces of gold

KEY POINTS

•	Focus produces 1,520 oz of gold from 5,800t @ 9.0g/t Au to follow up landmark first
	commercial gold pour in April
•	Total Gold production to date is over 3,500 ozs and 703 ounces silver with development
	ahead of mining plan and production forecasts

• Estimated value of gold poured to date is approximately A$3.3 Million based on an average gold price of $A 940/ounce • Production success to underpin aggressive exploration campaign targeting additional highgrade resources in the Coolgardie area

Australian-based gold and nickel company Focus Minerals Ltd (ASX: FML ) is pleased to announce that it has completed its second gold pour, comprising approximately 1,530 ounces, from the Perseverance Gold Deposit - part of its 100%-owned Coolgardie Gold Project in Western Australia.

Following up from its landmark maiden gold pour on the 29[th] April – consisting of approximately 2,465 ounces gold and 440 ozs silver- the second campaign gold pour further cements Focus’ status as Australia’s newest gold producer, and also heralds the revival of the historic Coolgardie Gold Field which has produced over 2.6 million ounces since 1892.

The gold produced was achieved from processing 5,800 tonnes of Perseverance ore at a grade of 9 g/t , which, like the earlier gold pour, compares favourably with the reserve grade for the deposit of 8.3g/t Au. The development of the Perseverance deposit commenced in April following a positive Bankable Feasibility Study (BFS) completed last year.

Mill treatment of the Perseverance ore was flushed out of the mill using 3800t of low grade stockpile material grading 0.8g/t, sourced from the nearby Three Mile Hill stockpiles.

Gold production to date has been solely from development ore, with underground mine development currently ahead of the original mine plan. Stope production was initially planned to commence in September 2008, however with development ahead of schedule stope production is now expected to commence in August.

Based on the current gold price of approximately $A940 per ounce, the value of Focus’ gold pours to date is approximately $A3.3 million and represents the first sustainable cashflow from its Coolgardie operations since the Company acquired its initial interest in Coolgardie tenements during early 2005.

Focus recently upgraded the Probable gold reserve at Perseverance to an estimated 287,000t @ 8.3 g/t/Au for a total of 76,000 ounces, and early indications are that this figure will be improved upon based on the grades already being produced, which are significantly higher than initial conservative estimations.

“We are very pleased with the way the gold operations are progressing in Coolgardie, in particular the grades being achieved which are currently higher than those planned within the Feasibility Study,” said Focus’ Managing Director, Mr Peter Williams.

“The current trends in development progress, cost containment and grade indicate the possibility of enhancements to the original feasibility estimates of project economics” If these factors continue then the initial 76,000 ounce estimate for Perseverance will be substantially improved upon leading to enhanced project economics,” he added.

Mr. Williams also commented on the flow-on effects of the Company’s thriving gold production to other areas of the business: “The ongoing success of our gold production activities, whilst important in its own right, also serves to strengthen our position to aggressively explore for additional high-grade gold deposits in the area.”

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 and Reserves are 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.

The information in this report that relates to Ore Reserves was prepared under the direction of Brett Ustick, who is a member of The Australian Institute of Mining and Metallurgy. Brett Ustick is a full-time employee of Redemption Management Pty Ltd. Brett Ustick has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity for which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Brett Ustick consents to the inclusion in the report of the matters based on his information in the form and context 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 Measured, Indicated and Inferred Resources exceeding 1.65 million ounces of gold as well as the 1.2mtpa Three Mile Hill processing plant.

Focus Minerals is also 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