VANCOUVER, Feb. 15, 2013 /PRNewswire/ - 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.
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, President
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.
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.