OTTAWA, ONTARIO--(Marketwire - Jan. 12, 2012) - Mr. Gary Economo, President and Chief Executive Officer, Focus Metals Inc. (TSX VENTURE:FMS)(OTCQX:FCSMF)(FRANKFURT:FKC) (the "Company") is pleased to announce the acquisition of 65 mining claims in southwestern Quebec.
The claims, located on five properties are all natural flake graphite prospects including a past producing property. All claims are located in the Gatineau - Bois Franc area.
Past exploration work reported the prospects are hosted in quartzite or quartzo-feldspathic gneiss and consist of graphitic gneiss, massive graphite veins and veinlets or disseminated graphite in quartzite. Graphite flakes are large to medium size.
In consideration for the purchase of the 65 claims, the Company agrees to pay the vendors a total of CDN $60,000 cash and, subject to TSX Venture Exchange approval, issue the vendors 100,000 common shares in the capital of the Company.
The purchase agreement also provides the Company with a right of first refusal to purchase any exploration and/or mining permits, leases, rights, claims subsequently acquired within the area by the vendors.
On September 9, 2011, the Company purchased some 200 mining claims located in the Province of Quebec.
Combined, the purchase of the 265 strategically-located claims are in line with the Company's previously stated intention of expanding its property portfolio.
Mr. Tony Brisson, P. Geo., Vice-President, Exploration, Focus Metals Inc., a Qualified Person as defined by NI 43-101 is responsible for the technical information contained in this news release.
About Focus Metals Inc.
Focus Metals Inc. is an emerging mid-tier junior mining company, a technology solutions supplier and a business innovator. It is the owner of the highest-grade (16%) technology graphite resource in the world. The company's goal is to assume a dominant industry leadership position by becoming the lowest-cost producer of technology-grade graphite. As a technology-oriented enterprise with a view to building long-term, sustainable shareholder value, Focus Metals is invested in the development of graphene applications and patents through Grafoid Inc.
Forward-Looking Statements
This News Release may contain or refer to "forward-looking statements" which reflect Management's expectations regarding the Company's future growth, results of operations, performance and business prospects and opportunities. These statements reflect Management's current beliefs at the time of this news release and are based on information currently available to Management. All statements other than statements of historical fact, included in this release, including, without limitation, statements regarding potential mineralization and reserves, exploration results, and future plans and objectives of the Company, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from Management's expectations are exploration risks detailed herein and from time to time in the filings made by the Company with securities regulators. While the Company anticipates that subsequent events and developments may cause its views to change, it specifically disclaims any obligation to update these forward-looking statements, except in accordance with applicable securities laws. Accordingly, readers are advised not to place undue reliance on forward-looking information.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contact Information:
President and Chief Executive Officer
613-691-1091 ext. 101