FOCUS MINERALS LTD — Investor Presentation 2011

Nov 13, 2011

FFT:FZA FOCUS MINERALS LIMITED ASX:FML Aggressively Expanding into a Rising Gold Price

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Presentation by CEO Campbell Baird The Gold Symposium, Luna Park, Sydney. 14[th] November 2011

ASX:FML FFT:FZA www.focusminerals.com.au

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Disclaimer and Competent Person’s Statement

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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 and Mineral Resources is based on information compiled by Dr Garry Adams who is a Member of the Australian Institute of Mining and Metallurgy. Dr Adams is a full time employee of Focus Minerals and has sufficient exploration 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 2004 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Dr Adams consents to the inclusion in the report of the matters based on the information in the form and context in which it appears.

The information in this report that relates to Ore Reserves is based on information compiled by Mr Brad Valiukas who is a Member of the Australian Institute of Mining and Metallurgy. Mr Valiukas is a full time employee of Focus Minerals and has sufficient exploration 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 2004 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Mr Valiukas consents to the inclusion in the report of the matters based on the information in the form and context in which it appears.

The information in this report that relates to gold Exploration Results and Mineral Resources for the Laverton Gold Project is based on information compiled by Mr Jeff Ion, who is a Member of the Australian Institute of Geoscientists and is employed by Crescent Gold Limited.

The information in this report that relates to Ore Reserve utilising underground extraction for the Laverton Gold Project is based on information compiled by Mr William Holly, who is a Member of the Australasian Institute of Mining and Metallurgy and is an independent consultant.

The information in this report that relates to Ore Reserves utilising open pit extraction for the Laverton Gold Project is based on the information compiled by Mr Steve O’Grady, who is a Member of the Australasian Institute of Mining and Metallurgy and is an independent consultant.

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Focus Minerals (ASX: FML) – An Australian gold producer

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Strong Production Platform

• Targeting +200,000oz[1] in 2012

• 4 mines across 2 regional centres in WA

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Financial Strength

• Profitable with strong operating cash flow. Debt free

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Resource Scale

• 4.3Moz Resource with 623,000oz Reserve[2 ]

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Exploration Upside

• Significant upside over 3 major regional project areas

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Re-rating Potential

• Compelling re-rating potential based on relative valuation analysis

• S&P/ASX 300 Index

• Includes targeted production from Focus’ projects of 100,000oz and 100,000oz from Crescent Gold’s projects. Focus has a 80% shareholding interest in Crescent as of 27[th] Sept 2011 on a consolidated basis attributable production target from Crescent is approx. 80,000oz for a 180,000oz of targeted production attributable to Focus

• Includes 100% of Crescent’s Resources and Reserves. Focus has a 80% shareholding interest in Crescent as of 27[th] Sept 2011

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Strategic Goals

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To Expand Aggressively into a Rising Gold Price

Deliver increased production & geographical diversity Target to be producing +200,000oz in 2012

Sustain profitability whilst growing operations Cash Flow Positive from operations

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Focus is a Growth Business

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Focus has been reinvesting profits into an aggressive mine expansion programme Opened 2 new mines in H1 2011 and acquired 100,000oz pa Laverton Gold Operations

Reserves

Production

Resources

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700,000
600,000
500,000
400,000
300,000
200,000
100,000
-
FY 09 FY 10 FY 11 CY 12
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	Production	Production	Production	Production	Production	Production	Production	Production	Production	Production	Resources 700000	Resources 700000	Resources 700000	Reserves	Reserves	Reserves	Reserves	Reserves	Reserves	Reserves	Reserves	Reserves	Reserves
- 50,000 100,000 150,000 200,000 250,000											FY 09 FY 10 FY 11 CY 12 - 100,000 200,000 300,000 400,000 500,000 600,000 ,
														FY 09 FY 10 FY 11 CY 12
										FY2009 ($,000) **Actual **		FY2010 ($,000) **Actual **	FY2011 ($,000) **Actual **					CAGR
Revenue										43,258		73,678	102,752					33%
Net Cash										13,344		27,807	30,753					32%
Production										41,401		62,296	72,721					20%
Resources										1,898,625		2,050,000	2,250,000					6%
Reserves										92,942		207,852	247,302					39%

Note: CY12 includes addition of Production, Resources & Reserves from Crescent Gold Takeover

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Crescent Takeover

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Focus acquired control of Crescent Gold via an off-market takeover. Has a 81.57% shareholding[1] in Crescent Focus’ targeting +200,000oz of controlled production in CY2012

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Exceptional deal for Focus shareholders: $59m in scrip = extra 100,000oz[2] production for Focus + significant growth in Resources and Reserves

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Target +200,000oz Production Gold production for CY2012 Management 100,000oz Large scale 4.2Moz Resource Development & Operating Skills open pit mining Doubles existing Resource + = Production Exploration 623,000oz Reserve Opened 2 new mines in H1 2011 Over 1,400km[2] in Laverton Triples existing Reserve No money to explore Mill Expertise 4 Gold Mines Recommissioned on time & Coolgardie and Laverton budget Pipeline Asset Value Barnicoat Mill & Summit Tremendous Exploration underground Potential

1. Includes targeted production from Focus’ projects of 100,000oz and 100,000oz from Crescent’s projects. Focus has a 80% shareholding interest in Crescent as of 27[th] Sept 2011. On a consolidated basis attributable production target from Crescent is approx. 80,000oz for a 180,000oz of targeted production attributable to Focus

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Strong Production & Exploration Pipeline

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Focus Asset Base

Crescent Asset Base

Coolgardie Production

• Tindals Mining Centre – underground mine & open pit

• The Mount underground 85km to south

• Three Mile Hill plant

• 2012 production +100koz

Exploration

Coolgardie Region

• 210sq km landholding

• Produced over 1Moz in region

• 2.2Moz resource base 50% of which comes from just 2% of project

• Significant upside from exploration

Treasure Island Gold Project

• World class greenfields exploration

• +200km[2] landholding

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Laverton Gold Project
Tindals Mining Centre
The Mount
Treasure Island
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Laverton Production

• Laverton open pit

• 1.5Mtpa Barnicoat mill

• Ore processing agreement with Barrick

• 2012 production 100koz

Laverton Exploration

• 1,200sq km landholding

• Multi-million ounce Wallaby & Sunrise Dam nearby

• Not tested below 100m vertical

• 2.0Moz Resource; 381,000oz Reserve

• Significant upside from exploration particularly at the Chatterbox shear

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2011 Has Been a Transformational Year for Focus, 2012 Outlook Strong

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 Targeting
+200,000oz of
production
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1. Consolidate +200,000oz from operations in 2012  Targeting
+200,000oz of
2. Develop regional Exploration Opportunities production
 Treasure island
3. Drive further growth in 2013 both organically and from  Targeting +200,000oz of production  Chatterbox shear
exploration  Opened 2 x new mines  Growing Resource and  Organic growth
Reserve potential
 Commenced regional
 Driving Group cost
exploration
efficiencies
 Discovered new gold
camp at Treasure Island
 Takeover of Crescent
(current interest 81.57%)
 Doubled Resource
 Tripled Reserve
 Three Mile Hill
Treatment Plant
 Tindals
Underground
CY 2009 CY 2010 CY 2011 CY 2012 CY 2013
Actual Actual Target Target Target
50,244oz 76,233oz 100,000oz +200,000oz +200,000oz
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Value Expansion
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OVERVIEW OF OPERATIONS

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Production Centres:

#1. Tindals Mining Centre Underground - 55,000oz pa

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Summary:

Long-term stable production at 55,000oz pa Underground operation delivering 600,000tpa Average grade 3.5g/t Resource: 3.1Mt @ 4.4g/t for 444,000oz Reserve: 1.0Mt @ 3.6g/t for 115,000oz Outlook: Continued sustained production Resource and Reserve expansion

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Production Centres:

#2. Tindals Mining Centre Open Pits - 25,000oz pa

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Summary: New operation in June Quarter 2011 Targeting 25,000oz pa sustainable over 5 years

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360,000tpa Average grade 2.1g/t

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Resource: 11.6Mt @ 2.3g/t for 830,000oz Reserve: 1.7Mt @ 1.8g/t for 99,500oz

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Outlook Ramping up to steady state production Multiple surface targets at centre provide strong pipeline of future pits

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Production Centres:

#3. The Mount Underground - 40,000oz pa

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Summary

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New high-grade underground mine commenced operation in March Quarter 2011

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270,000tpa Average grade 5.5g/t

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Resource: 2.1Mt @ 5.5g/t for 370,000oz

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Outlook

• Targeting ramp up to +20,000tpm run rate over next 4 months

• Expanding ore zones through exploration & development

• Resource and Reserve expansion

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Production Centres:

#4. Crescent’s Laverton Gold Project Open Pits - 100,000oz pa

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Summary

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Large scale open pit operations that delivered 100,000oz in 2010

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Multiple open pit targets - contracted out to specialist

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Ore processing agreement with Barrick at Granny Smith

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2.3Mtpa throughput

Average grade 1.5g/t

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Resource: 27Mt @ 2.1g/t for 2.0oz Reserve: 5.8Mt @ 2.1g/t for 381,000oz

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Outlook

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Mine planning and delivery to 100,000oz pa run rate

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Resource and Reserve expansion

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Further Resource Growth Potential Across 3 Projects

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Greater Coolgardie

Treasure Island Gold Project

Laverton & Chatterbox Shear

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Region has produced >2.5Moz over last 100 years

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• World class, gold project on Boulder-Lefroy Fault

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30km strike along the Chatterbox shear

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Resource of 11.3Mt @ 1.9g/t for 694,000oz

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• Biggest gold producing system in Australia

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Significant upside on exploration

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Massively underexplored

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• Visible gold in core with intercepts over 30g/t over a 1km strike

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• Substantial open pit potential

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Operational Update: September Quarter

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Record Production

• Group delivered 35,647oz for September Quarter

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• Coolgardie on Track Record 21,908oz produced from Coolgardie

• First full quarter with two new mines

• 41% increase on average Quarter’s mining (249,481t @ 3.03g/t for 24,319oz gold in ore)

• 100,000ozpa run rate in December Quarter

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Laverton on Track

• Met market guidance – produced 21,915oz

• Record day rate of 559oz – equivalent of 112,000ozpa

• 85% of ore to ROM pad for December Quarter

• Mining to commence at Apollo in December Quarter

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Delivering Strong Production Growth in 2012 & Beyond

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Addition of 2 new mines in H1 2011 and acquisition of Laverton Gold Operations establishes a strong production platform for Focus moving forward.

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+200,000oz
Double Production
20% CAGR
72,830oz
62,296oz
41,401oz
FY 08 FY 09 FY 10 FY 11 CY 12 (F)
Production Tindals U/G Production Tindals O/P Production The Mount Production Laverton
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Summary

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1. Rapidly Growing Production Profile – Control of Crescent Gold has transformed Focus’ production outlook propelling it into the top tier of Australian gold producers

2. Re-rating - Significant re-rating potential for FML stock

3. Production - Production set to double in 2012 to +200,000oz[1] gold

4. Mining Scale - Solid production platform with 4 operating mines, 2 of which are ramping up

5. Financial Strength - Strong operating cash flows and no debt

6. Resource Growth Potential - Substantial resource base of 4.3Moz[2] with ability to extend reserve life

7. Proven Track Record - Management team has a proven track record of mine development and operation

8. New Discoveries - World class exploration upside at newly discovered gold camp at Treasure Island Gold Project and Chatterbox sheer in Laverton

9. Growth Plan - Clear strategic growth plan to continue to accelerate production in, 2013 and beyond

1. Includes targeted production from Focus’ projects of 100,000oz and 100,000oz from Crescent’s projects. Focus has a 80% shareholding interest in Crescent as of 27[th] Sept 2011. On a consolidated basis attributable production target from Crescent is 80,000oz for a 180,000oz of targeted production attributable to Focus

2. Includes 100% of Crescent’s Resources and Reserves. Focus has a 80% shareholding interest in Crescent as of 27[th] Sept 2011

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APPENDICES: FML & CRE COMBINED RESOURCES & RESERVES

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	Tonnes '000t Grade Au g/t Ounces Measured Resources	Tonnes '000t Grade Au g/t Ounces Measured Resources	Tonnes '000t Grade Au g/t Ounces Measured Resources	Tonnes '000t Grade Au g/t Ounces Indicated Resources	Tonnes '000t Grade Au g/t Ounces Indicated Resources	Tonnes '000t Grade Au g/t Ounces Indicated Resources	Tonnes '000t Grade Au g/t Ounces Inferred Resources	Tonnes '000t Grade Au g/t Ounces Inferred Resources	Tonnes '000t Grade Au g/t Ounces Inferred Resources	Tonnes '000t Grade Au g/t Ounces Total Resources	Tonnes '000t Grade Au g/t Ounces Total Resources	Tonnes '000t Grade Au g/t Ounces Total Resources
COOLGARDIEGOLD PROJECT
Tindals Project Total	739	4.7	112,000	9,143	2.6	766,000	3,354	2.8	298,000	13,236	2.8	1,176,000
Mount Project							2,090	5.5	370,000	2,090	5.5	370,000
Lindsays Project				4,350	1.7	238,000	3,562	2.0	233,000	7,912	1.8	471,000
Three Mile Hill Project				1,386	1.9	86,000	138	3.0	13,000	1,524	2.0	99,000
Norris Project							1,870	2.1	124,000	1,870	2.1	124,000
Total Coolgardie	739	4.7 112,000		14,879 2.3 1,090,000			11,014 2.9 1,038,000			26,632 2.6 2,240,000
LAVERTON GOLD PROJECT
Laverton-UG				2,037	6.5	426,000	619	7.1	141,000	2,656	6.6	567,000
Laverton - Surface	1,619	2.2	113,000	12,093	2.0	759,000	10,171	1.8	589,000	23,883	1.9	1,461,000
Total Laverton	1,619	2.2 113,000		14,130 2.6 1,185,000			10,790 2.1 730,000			26,539 2.4 2,028,000
TOTAL COMBINED RESOURCES	2,358	3.0 225,000		29,009 2.4 2,275,000			21,804 2.5 1,768,000			53,171 2.5 4,268,000
Coolgardie Mineral Resource (as at 30 September 2011)
Laverton Mineral Resource (as at 30 June 2011)

	Tonnes '000t Grade Au g/t Ounces Proven Reserves	Tonnes '000t Grade Au g/t Ounces Proven Reserves	Tonnes '000t Grade Au g/t Ounces Proven Reserves	Tonnes '000t Grade Au g/t Ounces Probable Reserves	Tonnes '000t Grade Au g/t Ounces Probable Reserves	Tonnes '000t Grade Au g/t Ounces Probable Reserves	Tonnes '000t Grade Au g/t Ounces Total Reserves	Tonnes '000t Grade Au g/t Ounces Total Reserves	Tonnes '000t Grade Au g/t Ounces Total Reserves
Coolgardie
Tindals Project-Underground:	230	4.0	29,300	773	3.4	85,700	1,003	3.6	115,000
Tindals Project-Open Pits:				620	2.0	39,600	620	2.0	39,600
Three Mile Hill Project-Open Pits:				1,101	1.7	59,900	1,101	1.7	59,900
The Mount Project-Underground:				21	5.0	3,300	21	5.0	3,300
Stocks: Total							456	1.7	24,600
Reserves and Stocks Total:	230	4.0 29,300		2,515 2.3 188,500			3,201 2.4 242,400
Laverton
Laverton Gold Project-Open Pits	928	2.0	58,000	2,184	1.9	136,000	3,112	1.9	194,000
Summit Underground				860	5.3	146,000	860	5.3	146,000
Stocks: Total							1,801	0.7	41,000
Reserves Total	928	2.0 58,000		3,044 2.9 282,000			5,773 2.1 381,000
TOTAL COMBINED RESERVES 1,158		2.3 87,300		5,559 2.6 470,500			8,974 2.2 623,400
Coolgardie Mineral Reserve (as at 30 September 2011)
Laverton Mineral Reserve (as at 30 June 2011)

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Search “Focus Minerals” on the iTunes store to download the Focus iPad Investor App

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