Focus Ventures Chucara property agreement
Ticker Symbol: C:FCV

Focus Ventures Chucara property agreement

Focus Ventures Ltd (C:FCV)
Shares Issued 28,943,482
Last Close 3/11/2010 $1.05
Friday March 12 2010 - Property Agreement

The TSX Venture Exchange has accepted for filing a letter of intent dated Feb. 15, 2010, between Focus Ventures Ltd.'s wholly-owned subsidiary, Minera Focus S.A.C., and Collingwood del Peru S.A.C. (Luigi Arevalo Garlald, Sigfredo Sedano Sanchez and Jaime Loret de Mola Lavalle), whereby the company can acquire up to a 90-per-cent interest in the Chucara project in Peru. In consideration, the company must make $4.0-million (U.S.) cash payments to earn a 70-per-cent interest ($280,000 (U.S.) in the first year) in the property over four years, additional cash payments of $8.5-million (U.S.) to earn up to an 85-per-cent interest in the property over the next fifth and sixth years, and the payments of the sum of $2.50 (U.S.) for every ounce of gold classified as proven and probable minable reserves as governed by JORC and NI 43-101, to earn up to a 90-per-cent interest in the property. The total share issuance is $500,000 (U.S.) worth of common shares over three years ($70,000 (U.S.) worth of common shares in the first year) at a floor price of $1.05 (Canadian). The minimum exploration expenditure requirements are $1.0-million (U.S.) over four years. The vendor is entitled to a 1.5-per-cent net smelter return (NSR), which can be purchased by the company for the sum of $600,000 (U.S.).

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