An anonymous director reports

FOKUS MINING CORPORATION ANNOUNCES $1.5 MILLION PRIVATE PLACEMENT

Fokus Mining Corp. will undertake a best efforts non-brokered private placement for minimum aggregate gross proceeds in the amount of $1.5-million, comprising: (i) approximately $500,000 in proceeds raised via the issuance of units of the company at a price of five cents per unit; and (ii) $1-million in proceeds raised via the issuance of flow-through (FT) units of the company at a price of eight cents per FT unit. Each unit will comprise one common share in the capital of the company and one common share purchase warrant, and each FT unit will comprise one flow-through common share and one warrant. Each warrant will entitle its holder to acquire one common share at a price of eight cents per share for a period of three years from the issuance date. (Dollar amounts are in Canadian dollars, unless otherwise noted.)

Fokus intends to use the net proceeds from the offering for expenses incurred in connection with the exploration on its Galloway project and for general corporate and working capital purposes.

Fokus will pay a finder's fee to an arm's-length finder, consisting of: (i) a cash fee equal to 7 per cent of the gross proceeds raised via subscribers introduced by such finder; and (ii) finder's warrants equal to 8 per cent of the total number of offering units issued to subscribers introduced by such finder. Each finder's warrant is exercisable for one unit at a price of five cents per unit, for a period of three years from the closing date of the offering.

Closing of the offering is subject to a number of conditions, including, without limitation, approval of the TSX Venture Exchange and receipt of all necessary corporate and regulatory approvals. The closing of the offering is expected to take place on or before Oct. 4, 2024, or such other date as may be determined by the company.

The securities to be issued under the offering will be offered by way of private placement in such provinces and/or territories of Canada as may be determined by the company, in each case, pursuant to applicable exemptions from the prospectus requirements under applicable securities laws. Securities issued under the offering will be subject to a hold period, which will expire four months and one day from the date of the applicable closing of the offering.

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, it is aiming to unlock the secret of the Galloway gold project.

The 100-per-cent Galloway project covers an area of 2,865.54 hectares and is located just north of the Cadillac-Larder Lake deformation, which extends for more than 100 kilometres. Numerous gold deposits are associated with the structure and its subsidiaries. The recent work focused on the western part of the mineral claims has allowed the company to delineate a National Instrument 43-101 inferred resource of 1,419,000 ounces of gold at a price of $1,750 (U.S.) per ounce. This was published in the March, 2023, news release, which includes a sensitivity table showing that at a price of $1,960 (U.S.) per ounce, the inferred resource increases to 1,788,000 ounces of gold.

The current work of the company focuses on a western portion of the mineral claims where several mineral occurrences have been identified.

We seek Safe Harbor.