FOCUS MINERALS LTD — Investor Presentation 2011

Apr 5, 2011

6 April 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 Officer

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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

1.3Mtpa processing facility

Will have 3 producing mines (2 commencing in H1)

Funded development of new mines from cash flow

Will produce 100,000oz in 2011

Clear strategic plan to expand business to +130,000oz

World class exploration upside

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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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Focus Minerals At A Glance

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	ASX Code	FML
	Ordinary Shares	2,882m
	Market Cap	A$262m
	Unlisted Options	84m
	Cash and Bullion	$8.6m(31/12/10)
	Debt	$0.0m
	Enterprise Value	$216.4m
	Price range 12 month	A$0.04 – A$0.10
	Average Daily Volume (3m)	43.7m shares

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Board & Senior Executive		Shareholders (as at 23/03/11) Location Shares %
Chairman Don Taig		Top 20 38.36%
Non-Exec Director Phil Lockyer		Sector Investment Managers London 100.0m 3.45%
Non-Exec Director Chris Hendricks		DWP Bank Frankfurt 61.0m 2.11%
CEO Campbell Baird		New City Investment Managers Limited London 60.0m 2.07%
CFO Jon Grygorcewicz		Acadian Asset Management Ltd Sydney 42.0m 1.45%
COO Brad Valiukas		Atom Funds Management Sydney 34.5m 1.19%
Group Geologist Dr Garry Adams		Focus Minerals Management 70.5m 2.44%

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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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Proven Track Record in Mine Development

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End of 2008

Start of 2011

• 1 producing mine

• • Toll treating

• • Produced 17,445oz

• • $20m Debt. 35Koz Hedge position

• • 1.7Moz global resource

• • 205 sq. km tenements in one region

• • Spending $1.5m on exploration

2 Yrs.

• 3 producing mines

• • 1.3Mtpa processing plant

• • Will produce 100,000oz pa

• • No debt or hedging

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

• • 420 sq. km tenements across two regions

• • Spending $12m on exploration

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Strategic Asset Summary

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• 1.3 Mtpa plant in Coolgardie Three Mile Hill • Processing at +100,000tpm since June 2010 Processing Plant • < 5km from Tindals Mining Centre. 85km from The Mount

• Underground operation has been engine room of Focus – strong cash

• Tindals Mining generation platform Centre • 1Moz resource

• Open Pits on track to enter production in April 2011

Greater

Coolgardie

• 700,000oz Resource in greater Coolgardie area

• Reserve (60,000 oz) available for immediate startup

• Strategy for advancement of resources in 2011

• New High-grade underground mine built from cash flow

The Mount

• 2.1Mt @ 5.5g/t Resource – 370,000oz

• Entered production in mid-March 2011. 85km from plant

• World class Gold project on Boulder-Lefroy Fault

• Treasure Island • Greenfields exploration

• Gold Project •

• Very high-grade surface samples to date: 58.9g/t, 53.7g/t & 48.4g/t

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Three Mile Hill Treatment Plant

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Largest processing plant in Coolgardie region delivering Focus significant strategic value

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1.2Mtpa plant currently operating at

1.3Mtpa

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Processing at +100,000tpm since June 2010

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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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Configured to enable future phased expansion

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<5km trucking distance from Tindals Mining Centre

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Tindals Mining Centre: 85,000oz pa Operation

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Tindals Mining Centre has been the engine room of the Focus business Total Resource of 10.9Mt @ 2.8g/t for 1Moz

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

Stable underground production profile

Commencing open pits in April 2011

Significant upside at depth

<5km trucking distance to Three Mile Hill

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Tindals Underground: 55,000oz pa

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5 main ore bodies Gold endowment of 2,500oz per vertical metre Consistent performer for business Producing at 55,000oz pa Currently has 2 years of reserves extendable on drilling Resource: 2.6Mt @ 4.6g/t for 378,000oz

Reserve: 1.2Mt @ 3.4g/t for 126,000oz Currently only operating to 300m depth

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Empress
Tindals
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Cyanide
Countess
600m
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Tindals Open Pits: 30,000oz pa

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• Multiple open pit deposits providing low cost ore feed to mill

• Commence development of first three pits in April 2011

• Target 30,000oz pa to be sustainable over 5 years

• Resource: 8.3Mt @ 2.3g/t for 608,000oz

• Reserve: 389,000t @ 2.1g/t for 26,000oz from 6 months drilling

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Big Blow Open Pit with UG Expansion Potential

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Greater Coolgardie Exploration

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Region has produced >2.5Moz over the last 100 years

First time whole region has been controlled by one entity Massively underexplored – significant mine life extension potential

Greater Coolgardie Resource of 11.3Mt @ 1.9g/t for 694,000 ounces Greater Coolgardie Reserve of 1.1Mt @ 1.7g/t for 60,000oz Nepean Nickel is strategic asset given current Nickel price - Resource of 600,000t @ 2.2% Ni

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The Mount: Spearheading Next Stage of Expansion

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New high-grade Underground Mine just commenced production 85km to south of Three Mile Hill plant Significant boost to Focus’ production profile at +60,000oz pa

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The Mount: +60,000oz pa

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• 15 parallel high grade ore zones

• Commenced mining German Lode

• Commenced cross cutting ore structures in preparation for expansion

• Inferred Resource – 2.1Mt @ 5.5g/t for 370,000oz

• Reserve - 69,000t @ 8.0g/t for 18,000oz

• Trial mining delivered 30,000t @ 8.0g/t

• Targeting a gold endowment of 1,500oz per vertical metre

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Greenfields Exploration: Treasure Island Gold Project

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Option to acquire
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• World class gold project on the Boulder-Lefroy Fault

Biggest gold producing system in Australia

• 100% ownership. 210 sq. km of tenements

• Surface sample grades include: 58.9g/t, 53.7g/t & 48.4g/t

• Multiple vein arrays of +300m strike length on Island

• Significant number of samples contain extensive finely disseminated visible gold in quartz

• Aeromagnetics show structures extend under lake

• Additional projects identified to north, south and east of Island including palaeochannels + Junction style deposit

• Commenced preliminary drilling programme in 1st week of March 2011

• Significant mine life potential given geological address

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Treasure Island Gold Project

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Strategic Growth Plan

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current
50,000oz 77,000oz 100,000oz +130,000oz +?????oz
Calendar 2009 Calendar 2010 On track 2011 Target 2012 Target 2013
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
60,000oz currently in Reserve
Treasure Island
Exploration
Gold Project
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Operational Efficiencies
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Mine Life

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15 Years
Treasure Island Gold Project
at Lake Cowan
TBA
The Mount
10 Years 2.1Mt @ 5.5g/t
370,000oz
Greater Coolgardie
11.3Mt @ 1.9g/t
694,000oz
Tindals OP
8.3Mt @ 2.3g/t
5 Years
608,000oz
Tindals UG
2.5Mt @ 4.6g/t
378,000oz
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Investment Summary

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 Rapidly emerging profitable mid-tier gold producer currently operating at 100,000oz

• No debt or hedging

• Significant production profile with 3 producing mines & 1.3Mtpa processing plant

 Substantial resource base with ability to extend reserve life  Management team with a demonstrated track record of delivery to production, on time, on budget

 Clear strategic growth plan to accelerate production to +130,000oz

 World class exploration upside at Treasure Island Gold Project

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FML Resources & Reserves as at 30th September 2010

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AGGRESSIVELY EXPANDING INTO A RISING GOLD PRICE

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