VANCOUVER,
Feb. 15, 2013 /CNW/ - Focus Ventures
Ltd. (TSXV: FCV) announces that as a result of a review by the
British Columbia Securities
Commission, it is issuing this news release to clarify its
technical disclosure.
The Company previously published on its website
a shareholder update dated June 2010,
a map of north-central Peru, and a
corporate presentation dated December
2012. Certain technical disclosures in these documents were
not NI 43-101 compliant, as follows:
- The Company did not report each category of mineral resource or
mineral reserves separately in the mineral resource estimates for
adjacent properties found on the North-Central Peru Mineral
Endowment Map contrary to Section 2.2(b) of NI 43-101.
- In the June 2010 Shareholder
Update the Company disclosed several deposits related to the above
map solely in the form of contained metal, contrary to Section
2.2(d) of NI 43-101, which also requires that the grade and the
quantity for each category of the mineral resources and mineral
reserves is stated separately.
- In its corporate presentation and fact sheets the Company
reports exploration targets at its Aurora
and Santa Cruz projects without providing ranges of tonnes
and grade, contrary to Section 2.3(1)(a) of NI 43-101 and without
stating that the potential quality and quantity of grade is
conceptual in nature and the basis on which the disclosed potential
quantity and grade has been determined as required by Section
2.1(2).
The Company retracts these documents in their
entirety and has removed them from the website. Shareholders
are advised that this retraction also applies to the Company's Fact
Sheet and January 2013 corporate
presentation distributed at a recent investment conference. Please
see our website for an updated corporate presentation dated
February 2013.
Qualified Person
This release was prepared under the supervision
of Mr. David Cass, Focus's
President, who is a member of the Association of Professional
Engineers and Geoscientists of British
Columbia, and a "Qualified Person" in accordance with NI
43-101.
About Focus Ventures
Focus Ventures is developing a diversified
portfolio of quality silver, gold, copper and phosphate properties
in Peru, Mexico and Colombia. Backed by an experienced
technical team of geologists and consultants, Focus's strategy is
to identify and acquire former producing mines or untested gold and
silver and base metal properties that show potential to become new
mines.
ON BEHALF OF THE BOARD
"David Cass"
David Cass, President
Symbol: TSXV-FCV
Shares Issued: 40.1-million
Neither the TSX Venture Exchange nor the Investment Industry
Regulatory Organization of Canada
accepts responsibility for the adequacy or accuracy of this
release.
Forward-Looking Statement
Some of the statements in this news release contain
forward-looking information that involves inherent risk and
uncertainty affecting the business of Focus Ventures Ltd.
Actual results may differ materially from those currently
anticipated in such statement.
SOURCE Focus Ventures Ltd.