Focus Minerals : Maiden 45,600oz Mineral Resource for Green Light

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Market Announcement

6 December 2021

Maiden 45,600oz Mineral Resource for Green Light

Highlights:

• Maiden Mineral Resource for Green Light deposit, part of Coolgardie Gold Project
• Mineralisation similar to the bulk tonnage CNX deposit,
• Adds to growing Mineral Resource footprint north of Great Eastern Highway and within 2km of Three Mile Hill mill

West Australian gold explorer Focus Minerals (ASX: FML) (Focus or the Company) is pleased to announce a maiden Mineral Resource of 45,600 ounces for the Green Light Gold Deposit (Green Light), part of the Company's Coolgardie Gold Project.

Green Light is an emerging deposit at the Coolgardie Gold Project (Coolgardie), which covers 138km2 of highly prospective tenements on the outskirts of the Coolgardie township in the Goldfields region. Focus is advancing work to prepare Coolgardie for a resumption of mining operations.

Green Light is a lookalike to the 157,800oz CNX Gold Deposit (CNX) (refer ASX announcement dated 24 November 2021), which is along strike. Just like CNX, where the mineralisation is characterised as bulk tonnage with widths between 30m and 45m over a 700m strike, Green Light is shaping as an open pittable resource option for the Coolgardie restart.

The Green Light maiden Mineral Resource is reported on a dry tonnage basis using a 0.5 g/t Au cut-off to 200mRL (depth of 230m):

Commenting on the Green Light maiden Mineral Resource, Focus Minerals' CEO, Mr Zhaoya Wang, said:

"Green Light is an emerging deposit that is shaping as an important part of our plan to define sufficient open pittable Mineral Resources close to our Three Mile Hill processing plant to underpin a resumption of mining operations at Coolgardie. This maiden Mineral Resource is another step in the right direction for Focus, with resource work on other Coolgardie deposits - and the maiden Ore Reserve for CNX - being advanced as we have previously flagged with shareholders."

Figure 1: Coolgardie location map highlighting recent Mineral Resource updates and Mineral Resources currently

under review.

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Green Light location and historic production

Green Light is located within the Three Mile Hill mine stratigraphy (Figure 1), 2km north-west of the Three Mile Hill ROM pad and processing plant. The resource sub-crops over a drill-defined strike of 400m and is open along strike and at depth.

Green Light is located on a hill composed of G2 Gabbro (Figure 2). The G2 Gabbro is the favourable host of Three Mile Hill-style mineralisation as presented at Greenfields, Three Mile Hill, CNX and Patricia Jean.

There has been no historic production at Green Light. Along strike to the south-east, the Three Mile Hill open pit had historic production of 4.2Mt @ 2.4 g/t Au for 324,000oz. In addition, the CNX trial pit delivered historic production of 196Kt @ 1.86 g/t for 11,700oz.

Figure 2: Plan view showing the location of Green Light along strike from the Three Mile Hill and CNX deposits. The 2D location of significant intersections drilled in 2020-21 exceeding 0.5g/t and including up to 3m internal dilution are shown by dots, coloured as: CNX (red dots), Gap Zone (blue dots) and Green Light (green dots). The locations of 2020-21 drilling in the CNX/Green Light area are marked by black traces. The G2 Gabbro (pink semi-transparent polygon) is the host of the majority of the CNX, Green Light and Three Mile Hill mineralisation. The G2 Gabbro strikes north-west at Three Mile Hill, CNX and the Gap Zone. At the east side of Green Light, the G2 Gabbro is folded and strikes west south-west. The location of the section box for Figure 3 (white box) is also shown. Princess Midas shallow workings and minor shafts are shown as orange stars. The larger Princess Midas shaft is marked by a red star. An early draft November 2021 CNX open pit design is depicted as green strings.

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