Fokus Mining Corporation has entered into an agreement dated January 28, 2023 with four persons (the "Vendors") to acquire their residual interest of 10% in: the three mining leases and eight mining claims comprising the Hurd sector of the western part of the Galloway property, and 26 mining claims comprising the Ogima-Nord sector of the western part of the Galloway property (the "Transaction"). In connection with the Transaction, the Vendors have given full and total release and discharge to the Company with respect to the entire mining claims comprising the Galloway property. The consideration to be paid to the Vendors in connection with the Transaction will consist of the issuance of an aggregate of 3,000,000 treasury common shares of the Company.

Following the closing of the Transaction, the Company will own a 100% interest in the mining claims comprising the sectors of the Galloway property known as the Hurd and Ogima-Nord sectors. The Transaction is subject to regulatory approval, including that of the TSX Venture Exchange. The Company and the Vendors are dealing at arm's length.