An anonymous director reports

FOKUS MINING CORPORATION ANNOUNCES CLOSING OF $1.875 MILLION PRIVATE PLACEMENT

Fokus Mining Corp. has held the closing of its previously announced non-brokered private placement by issuing 17.5 million units at a price of five cents per unit and 12.5 million flow-through units at a price of eight cents per FT unit, for gross proceeds to Fokus of $1,875,000. Each unit comprised one common share in the capital of the company and one common share purchase warrant. Each FT unit comprised 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 its issuance date.

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

In connection with the closing of the offering, Fokus paid 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) 2.32 million finder warrants. Each finder 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. PowerOne Capital Markets Ltd. acted as a finder in connection with a portion of the offering.

As a result of the private placement, there are 155,309,460 common shares of Fokus issued and outstanding on a non-diluted basis. Under applicable securities legislation, the securities issued in the private placement are subject to a four-month hold period expiring on Feb. 18, 2025.

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

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