Fokus discovers a new gold zone on Galloway

Fokus Mining Corporation (“Fokus” or the “Company“) (TSXV: FKM) (OTCQB: FKMCF) (FSE: F7E1) announces the discovery of a new gold zone located at about 700 metres east of the GP-RB showings and about 400 metres south of the Hurd showing. Hole GA-21-59, over 1,500 metres long, intersected several gold intersections from 190 to 1,260 metres along the hole.

This drilling was done to test a magnetic signature similar to the Hendrick zone. The results seem to demonstrate that the environment of this hole could contain some auriferous horizons near the surface containing several significant gold grades. Thus, a grade of 7.01 g/t Au over 3 metres was intersected between 192 and 195 metres while a grade of 4.51 g/t Au over 1.5 m was detected at 480 vertical metres.

A grade of 11.45 g/t Au over 1.5 m was also intersected at a depth of 1,252.5 m. This high grade is included in a zone of 136.5 m at a grade of 0.83 AuEq including 1.43 AuEq over 7.5 m and 2.94 AuEq over 6 m (see table below).

¹ All results are presented uncapped and lengths represent core lengths. True widths are interpreted as greater than 90% of measured lengths.
² AuEq been calculated at price of Gold at 1818US$ per Oz., Silver at 23.54US$ per Oz. and Copper at 4.54US$ per pound.

This new discovery is in addition to the discovery of the RB zone in 2021, which is in the eastern extension of the GP zone.

The Galloway Project, while offering the potential for a low-grade, high-tonnage gold deposit in a porphyry-copper type system (Hendrick – GP – RB), also offers the potential for richer gold zones such as the Moriss located west of the GP zone.

The Company recognizes the importance of finding other higher grade gold zones in an environment close to the low-grade zones to optimize the overall grade. Also, during 2022, the drilling program will aim, in addition to continuing the definition of the Hendrick zone, to test other gold zones such as Moriss. Following a new compilation of historical data, the Company has thus identified several showings with such potential near surface and hopes to confirm the gold potential of these new targets, by drillings. The Renault Bay (12.44 g/t Au over 1.63 m), Hurd (2.68 g/t Au over 9 m), Pond Zone (7 g/t Au over 3 m), Moriss (11.48 g/t Au over 5.35 m) and Soaker Hill (8.57 g/t Au over 4.87 m) will therefore be drilled as soon as possible. Other potential targets have also been identified based on their favorable geological and structural environment associated with high and low intensity magnetic anomalies (see map).

According to current drilling results, the Hendrick zone, despite less accessibility due to a sedimentary cover (Cobalt Sediment) varying from a few tens of metres to several hundred metres depending on the location, seems to offer significant resource development potential. The Company still wishes to complete a first 43-101 evaluation of the resource with InnovExplo in 2022. Additional drilling as well as metallurgical and mineralogical tests will be necessary to complete this first evaluation.

The following tables summarize the bests results of the 2009-2012 and 2020-2021 drill campaigns on the Galloway project.

Qualified Person

This press release was approved by Gilles Laverdiere, P.Geo, Director and Qualified Person under National Instrument 43-101.

About Fokus

Fokus Mining Corporation 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, we are determined to unlock the secret of the Galloway gold project.

The Galloway project covers an area of 2865.54 hectares and is located just north of the Cadillac-Larder Lake deformation which extends laterally for more than 100 km. Numerous gold deposits are related to that structure and its subsidiaries. The current work focuses on a small western portion of the mineral claims where several mineral occurrences have been identified. For more information, visit our website: fokusmining.com.

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Caution Regarding Forward-Looking Statements

Certain statements contained in this news release may constitute forward-looking information. Forward-looking information is often, but not always, identified by the use of words such as “anticipate”, “plan”, “estimate”, “expect”, “may”, “will”, “intend”, “should”, and similar expressions. Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking information. The Company’s actual results could differ materially from those anticipated in this forward-looking information as a result of regulatory decisions, competitive factors in the industries in which the Company operates, prevailing economic conditions, changes to the Company’s strategic growth plans, and other factors, many of which are beyond the control of the Company. The Company believes that the expectations reflected in the forward-looking information are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward-looking information should not be unduly relied upon. Any forward-looking information contained in this news release represents the Company’s expectations as of the date hereof, and is subject to change after such date. The Company disclaims any intention or obligation to update or revise any forward-looking information whether as a result of new information, future events or otherwise, except as required by applicable securities legislation.