FOCUS MINERALS LTD — Investor Presentation 2011

Apr 17, 2011

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ASX: FML

www.focusminerals.com.au

Focus Minerals Limited Aggressively Expanding into a Rising Gold Price CAMPBELL BAIRD: CHIEF EXECUTIVE

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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.

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Focus Minerals: A Rapidly Expanding Gold Producer

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Profitable Gold producer based in Western Australia’s Eastern Goldfields Producing profitably for 3 years Resource base of 2.1 million ounces

1.2Mtpa processing facility Funded the development of 2 new mines from cash flow (opening H1 2011) On track to produce 100,000oz in 2011 Pursuing a clear strategic plan to turn business into a +130,000oz performing operation inside 2 years

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Asset Location

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Greater Coolgardie
Three Mill Hill treatment plant
1.2Mtpa processing facility
Tindals Mining Centre
• Underground & open pits
The Mount
Underground Mine
Treasure Island
Gold Project
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Focus Minerals At A Glance

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	ASX Code	FML
	Ordinary Shares	2,882m
	Market Cap	A$224m
	Unlisted Options	84m
	Cash and Bullion	$8.6m(31/12/10)
	Debt	$0.0m
	Range 12 month	A$0.04 – A$0.10
	Average Daily Volume (3m)	25.2m shares

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	Board & Senior Executive
	Executive Chairman	Don Taig
	Non-Exec Director	Phil Lockyer
	Non-Exec Director	Chris Hendricks
	CEO	Campbell Baird
	CFO	Jon Grygorcewicz
	COO	Brad Valiukas
	Group Geologist	Garry Adams

	Shareholders (as at 31/12/10)	Location	Shares	%
	Top 20		1,142m	39.46%
	Sector investment Managers Ltd	London	100.0m	3.49%
	Old Mutual (Institutional Group)	Multiple	65.2 m	2.27%
	DWP Bank	Frankfurt	61.0 m	2.13%
	New City Investment Managers Limited	London	60.0 m	2.09%
	Focus Minerals Management		70.5 m	2.44%

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Focus has transformed its business inside 2 years

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Moved from being an explorer to producer

End of 2008

Start of 2011

• 1 producing mine

• • Toll treating

• Produced 17,445oz

• • $20m Debt. 35Koz Hedge position 2 Yrs.

• • 1.7Moz global resource

• 205 sq. km tenements in one region

• • Spending $1.5m on exploration

• 3 producing mines

• • 1.2Mtpa processing plant

• • Will produce 100,000oz pa

• • No debt or hedging

• • 2.1Moz global Resource (exc. Lake Cowan)

• • 450 sq. km tenements across two regions

• • Spending $12m on exploration

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Focus is a Growth Business

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Focus has been reinvesting profits into an aggressive mine expansion programme

Revenue Growth

EBITDA Growth

Normalised EPS

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80,000,000 25,000,000 0.40
60,000,000 20,000,000
15,000,000 0.20
40,000,000
10,000,000
20,000,000 5,000,000 0.00
FY 09 FY 10 FY 11
0 0
FY 09 FY 10 FY 11 FY 09 FY 10 FY 11 (0.20)
Revenue H1 Revenue H2 EBITDA H1 EBITDA H2 EPS (Normalised) H1 EPS (Normalised) H2
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	FY2009 ($,000) **Actual **	FY2010 ($,000) **Actual **	% Change
Revenue	43,258	73,738	70%
Cost of sales	-20,666	-45,452	120%
Gross profit	22,592	28,226	25%
EBITDA	16,572	22,407	35%
Net profit	3,147	10,882	246%
EPS	0.11 cps	0.38 cps	245%

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Right Strategic Assets

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Three Mile Hill
Processing plant
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Tindals Gold Mining
Centre
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Greater Coolgardie
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The Mount
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Treasure Island
Gold Project
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•1.2Mtpa plant in Coolgardie. Processing at +100,000tpm since June 2010

• •< 5km from Tindals Mining Centre. 85km from The Mount

•Configurable to expand capacity

• •Long life cash generation platform – engine room of Focus

• •1Moz resource

• •Open Pits on track to enter production in April 2011.

• •700,000oz Resource in greater Coolgardie area.

• •1 million tonne, 60,000 oz. reserve for immediate startup

• •Strategy for advancement of resources in 2011

• •High-grade underground mine

• •New mine built from cash flow

• •2.1Mt @ 5.5g/t Resource

• •Enters Production in March 2011

• •World class Gold project on Boulder-Lefroy Fault system

• •Absolute greenfields exploration

• •Very high-grade surface samples to date: 58.9 g/t, 48.4 g/t & 39.8 g/t

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Focus Minerals Overview

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Three Mile Hill Treatment Plant

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1.2Mtpa plant currently operating at 1.3Mtpa

Processing at +100,000 tonnes per month since June 2010

Spent $22M recommissioning & took to full nameplate capacity inside 6 months. Replacement value of >$100 million; 2 years construction for a similar plant

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Tindals Mining Centre

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Stable underground production profile Commencing open pits in April 2011. Significant upside at depth

Tindals Mining Centre has been the engine room of the Focus business. In a region that has produced >1Moz over the last 100 years.

Total Resource of 11.1 Mt @ 2.8g/t for 1M ounces

Total Reserve of 1.5 Mt @ 3.1g/t for 152,000 ounces

Underground & Open Pit Operations <5km trucking distance to Three Mile Hill

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Tindals Mining Centre…..continued

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Underground Operations:

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Underground mine currently producing at +45,000tpm @ 3.5g/t.

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Comprises 5 main ore bodies & gold endowment of 2,500 oz. per vertical metre

Open Pits

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Will commence open pit mining in April 2011.

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3 ore bodies immediately planned for development.

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9 further targets at Centre.

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Huge upside potential on Reserve from past 6 months of drilling

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Greater Coolgardie Region

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Coolgardie massively underexplored

Greater Coolgardie

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Focus has 220sqkm of tenements located in heart of Coolgardie gold belt. Resource of 11.3M tonnes @ 1.9g/t for 694,000 ounces

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Reserve of 1.1M tonnes @ 1.7g/t for 60,000 ounces - Greenfields in Reserve Massively underexplored – significant mine life potential

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Nepean Nickel

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Resource of 600,000 tonnes @ 2.2% Ni

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Remains a strategic asset in Focus’ inventory.

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The Mount: Spearheading Next Stage of Expansion

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Box Cut
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New high-grade mine Significant boost to Focus’ production profile

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High-grade Underground Mine Completely new production area

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85km to the south of Three Mile Hill plant 2.1M tonnes @ 5.5g/t for 370,000 ounces

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Footprint of 300m x 600m – remains open in all directions

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On track to commence production in March 2011

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Will significantly change Focus’ production profile

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Minimum 5 year mine life – potential to 10 years.

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Greenfields Exploration: Treasure Island Gold Project

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World class gold project on the Boulder-Lefroy Fault

Biggest gold producing system in Australia

Absolute greenfields exploration Treasure Island project delivering surface samples of 58.9 g/t, 48.4 g/t & 39.8 g/t

Commenced drilling in 1st week of March 2011

100% ownership. 210 sq. km of tenements

100 km south of Three Mile Hill

Whole new operating area giving geographic diversity

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Option to acquire
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Treasure Island Gold Project

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Significant number of samples contain extensive finely disseminated visible gold in quartz | Multiple vein arrays

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Additional projects already identified to the north, south and east of Treasure Island including paleochannels + Junction style deposit

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Summary High-Level Strategic Growth Plan

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50,000oz 77,000oz 100,000oz +130,000oz
+????
Calendar 2009 Calendar 2010 On track 2011 Target 2012
Production from Tindals underground mine & stockpiles
Tindals Underground | 45,000tpm @ 3.5g/t
The Mount | 30,000tpm @ 5.5g/t
Tindals Open Pits | 30,000tpm @ 2.2g/t
Greater Coolgardie |
Exploration
100,000tpm @ 2.0g/t
Treasure Island
Exploration
Gold Project
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Operational Efficiencies

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Investment Summary

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 Focus management team has a demonstrated track record of delivery to production, on time, on budget.

• A profitable gold producer delivering 100,000oz of gold.

 Strong portfolio of mining & exploration operations.

 A clear strategic growth plan to grow production to +130,000oz and beyond from existing assets.

 World class exploration upside at Treasure Island Gold Project

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Appendices

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Aggressively Expanding into a Rising Gold Price

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