FOCUS MINERALS LTD — Regulatory Filings 2004

Mar 14, 2004

15 March 2004

NEPEAN NICKEL AND THE MOUNT GOLD DRILLING UPDATE

Nepean

Austminex advises that assays have been received for 1-metre samples from Reverse Circulation ("RC") drill hole 4450-1, located 50 metres south of the Nepean nickel mine. An intersection derived from four metre composite samples was previously reported on 16 February 2004 comprising:

8 metres @ 5.41% nickel from 32 metres downhole.

The 1-metre splits returned an intersection of:

6m @ 7.41% nickel from 33 metres downhole including a higher grade zone of 2m @ 12% nickel (Table One). The intercept also contained an elevated copper assay of 1m @ 1.55% from 38 metres downhole.

The directors of Austminex consider this to be a significant discovery being near surface, primary massive sulphide nickel mineralisation capable of being mined by conventional open cut methods.

A further 2 drill holes have been completed to test the downdip and southern strike potential of this zone. Assays from this drilling will be released as they come to hand.

Extensions to Nepean Nickel Mine prospective stratigraphy

Recent geophysical and geochemical surveys completed at Nepean have confirmed the prospective stratigraphy for massive nickel sulphide occurrences has been increased to a total strike length of at least 1.5 kilometres along strike of the mine.

Interpretation of a surface moving loop electro-magnetic ("EM") survey completed to the south of Nepean has outlined a strong conductor along strike from RC 4450-1. The anomaly is interpreted as being potentially sourced from a near surface - massive sulphide occurrence.

Immediately to the north of the mine a mobile metal ion ("MMI") surface geochemical survey has outlined a coincident nickel, platinum and palladium anomaly extending over a surface area of approximately 50m by 800m along the prospective basal ultramafic contact stratigraphy.

These anomalies are currently being assessed and prioritised along with the results of downhole EM surveys from various diamond and RC drill holes testing the near mine prospective stratigraphy with a view to recommencing drilling testing of these anomalies in the June Quarter.

The pre-feasibility study for re-opening the Nepean nickel mine are expected to reported on by the end of the June quarter.

The Mount

Austminex advises that diamond and RC drilling recommenced last week at The Mount. A program of 6,000m (comprising approximately 4,000m of RC and 2,000m of diamond drilling) to infill the central 400m x 400m x 200m (depth) portion of The Mount mining lease is underway to provide drill density within the central zone to a level sufficient to enable resource calculation.

Results of the drilling program will be reported as they come to hand. It is anticipated that a resource statement will be available for reporting by the end of the June Quarter.

Statement of Competence

The geological information in this report is supplied by Mr Charles McCormick, a Fellow of the Australasian Institute of Mining and Metallurgy (AusIMM), who is defined as a Competent Person under the JORC Code of the AusIMM. Mr McCormick is joint Chief Executive Officer of Austminex.

Chuck McCormick
Joint Chief Executive Officer
Austminex Ltd

Kate Hobbs Executive Director & Joint Chief Executive Officer Austminex Ltd

Investor and Media Enquiries

Kate Hobbs Executive Director & Joint Chief Executive Officer Chuck McCormick Exploration Manager & Joint Chief Executive Officer Austminex Ltd 45 Ventnor Ave 207 Egan St kate.hobbs@austminex.com.au email: Perth WA 6005 Kalgoorlie WA 6430 website: www.austminex.com.au Phone: 08 9429 8830 Phone: 08 9021 7600

Table One - Nickel Assay Results Nepean RC Hole # 4450-1

Drillhole	Easting	Northing	RL	Azimuth	Dip	From	To	Intercept	Grade
	(m)	(m)				(m)	(m)	(m)	(% Ni)
4450-1	960	4450	1415	90	$-60$	33	34	6	7.41
incl						34	35		9.18
						35	36		0.60
						36	37		11.20
						37	38		12.75
						38	39		5.80
						39	41		5.13