VANCOUVER, March 22 /CNW/ - Focus Ventures Ltd. (TSX-V: FCV.V) is pleased to confirm that it has completed the formal signing of the option agreement whereby the Company has been granted the right to earn up to a 90% interest in the Chucara gold-silver project in north-central Peru (see Focus news release March 5, 2010).
Pursuant to the terms of the agreement, the Company has made the initial cash payment of US$80,000 to the property owner, and issued to the owner 19,552 shares of the Company (having a value of US$20,000). The shares have a resale restriction until July 13, 2010.
About Focus Ventures
Focus Ventures is acquiring advanced, drill-ready projects in Peru. Backed by an experienced technical team of geologists and consultants, Focus's strategy is to identify and acquire former producing mines or un-tested gold properties that show potential to become new mines.
ON BEHALF OF THE BOARD
David Cass, President
Contact: Erin Ostrom / Ralph Rushton
Shares Issued: 28.9-million
Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.
SOURCE Focus Ventures Ltd.
For further information: For further information: please call 604-688-5288 or visit our web site www.focusventuresltd.com