Mr. Jean Rainville reports

FOKUS MINING CORPORATION ANNOUNCES CLOSING OF $450,000 PRIVATE PLACEMENT

Fokus Mining Corp. has held the closing of its previously announced private placement by issuing 11.25 million units at a price of four cents per unit, for gross proceeds to Fokus of $450,000. Each unit comprised one common share of Fokus and one common share purchase warrant. Each warrant entitles the holder to acquire one additional common share of Fokus at a price of six cents until Dec. 22, 2027.

Fokus intends to use the net proceeds from the private placement for a drilling program on its Galloway property located in the province of Quebec, for geological advisory services and for working capital purposes. Below is a summary of the major categories applied to the gross proceeds as required by Policy 1.1 of the TSX Venture Exchange:

• 56 per cent -- drilling program on the Galloway property;
• 7 per cent -- geological advisory services;
• 7 per cent -- management fees for services to be provided by insiders of Fokus; and
• 30 per cent -- working capital.

None of the proceeds of this financing will be used for investor relations activities.

In connection with the closing of the private placement, Fokus paid cash commissions to Canaccord Genuity Corp. in an amount of $1,880, which represents 2 per cent of the gross proceeds raised from the sale of 2.35 million units through such securities dealer.

As a result of the private placement, there are 122,309,460 common shares of Fokus issued and outstanding on a non-diluted basis. Under applicable securities legislation and the policies of the exchange, the securities issued in the private placement are subject to a four-month hold period, expiring on April 23, 2024.

About Fokus Mining Corp.

Fokus Mining is a mineral resource company actively acquiring and exploring precious-metal deposits located in the province of Quebec, Canada. In implementing this major undertaking within the Canadian mining industry, Fokus is determined to unlock the secret of the Galloway gold project.

The Galloway project covers an area of 2,865.54 hectares and is located just north of the Cadillac-Larder Lake deformation which extends laterally for more than 100 kilometres. Numerous gold deposits are related to that structure and its subsidiaries. The current work focuses on the western portion of the mineral claims where several mineral occurrences have been identified.