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FOCUS ENTERS INTO EXCLUSIVITY AGREEMENT TO NEGOTIATE THE PROPOSED GAIN OF 100% CONTROL OF 1.6Moz COOLGARDIE GOLD JV KEY POINTS

Focus enters into Exclusivity Agreement to negotiate the terms of the proposed acquisition of
Committee Bay Resources' 50% interest in the Redemption Joint Venture. Consideration is $1.0 million, deductible from any subsequent purchase price.

The proposed acquisition would deliver 100% ownership of the 1.6Moz Coolgardie Gold Project (WA), including the 1.2Mtpa Three Mile Hill gold plant ­ significantly increasing FML's exposure to the gold price.

Consideration for the proposed acquisition likely to be a mixture of cash and equity, resulting in CBR joining the Focus share register as a significant shareholder.

Focus targeting 100,000oz pa gold production through accelerated development program. Initial gold production commencing in Q2 2008 at high-grade Perseverance Gold Project.

Focus Minerals Ltd (ASX: FML ­ "Focus") has moved to consolidate its position as an emerging mid-tier
Australian gold and nickel producer after signing an agreement to exclusively negotiate in respect of the
proposed acquisition by Focus of the 50% interest in the 1.6 million ounce Coolgardie Gold Project in
Western Australia ("Proposed Acquisition") held by its joint venture partner, Canadian-based Committee
Bay Resources Ltd. (TSXV: CBR ­ "Committee Bay") ("Exclusivity Agreement"). The consideration payable for the Proposed Acquisition is likely to be payable in both cash and shares and is expected to signal a key turning point for Focus as it gears up for first gold production scheduled for April this year from the high-grade Perseverance Project at Coolgardie, positioning it to join the ranks of Australian gold producers. Focus' objective is to become a 100,000 ounce per annum producer within the next three years. The Proposed Acquisition, which would be subject to shareholder approval, would give Focus 100% ownership of the Redemption Joint Venture assets at Coolgardie, including an extensive resource inventory within multiple deposits totalling 20.8 million tonnes at 2.46g/t Au for 1.649 million ounces (refer note 1), the fully permitted 1.2mtpa Three Mile Hill gold processing facility (currently on care and maintenance), and a highly prospective 210km2tenement package offering an outstanding pipeline of exploration and development opportunities. Note 1 ­ Please refer the Resource Listing contained within the 2007 Annual Report and subsequent Perseverance upgrade ASX release dated 10 October 2007.

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