VANCOUVER, CANADA--(Marketwired - March 17, 2014) - Focus Ventures Ltd. (TSX VENTURE:FCV) announces that it has terminated its option with Stonegate Agricom Ltd. ("Stonegate") (TSX: ST, ST.WT.A) to earn a 70% interest in the Mantaro phosphate deposit, located 250 km east of Lima in the District of Junin, central Peru. Details of Focus' exclusive right and option were announced in a joint news release dated October 25, 2013.
"We would like to thank Stonegate for giving us the opportunity to look at their Mantaro project," stated David Cass, President of Focus. "All of our recent exploration efforts have been directed at the Bayovar 12 concession near the coast in northwest Peru, which has rapidly become our highest priority project. With drilling underway at Bayovar 12, we've reluctantly taken the decision to relinquish the Mantaro option to allow our exploration team to focus 100% of its time on Bayovar 12. We wish the Stonegate team the best of luck in their efforts at Mantaro."
Phosphate rock is a raw material for fertilizers and vital to world food production. Focus is acquiring and developing quality phosphate projects in Latin America where the discovery and development of new deposits is becoming increasingly important given the growing demand and limited local supply of phosphate for fertilizer production. For further information, please call 604-630-5544 or visit our web site www.focusventuresltd.com.
ON BEHALF OF THE BOARD
Ralph Rushton, Director
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 contains 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.