Frontier Pacific Mining Corporation
TSX VENTURE : FRP

Frontier Pacific Mining Corporation

July 14, 2008 15:27 ET

Final Day for Trading of Frontier Pacific Common Shares Will Be July 15, 2008

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 14, 2008) - Frontier Pacific Mining Corporation ("Frontier") (TSX VENTURE:FRP) announces that July 15, 2008 will be the final day for trading of its common shares on the TSX Venture Exchange. Shareholders are reminded that July 15, 2008 is also the expiry date of the offer ("Offer") by Eldorado Gold Corporation ("Eldorado") for all of the outstanding common shares of Frontier. Thereafter, as the Offer has already been accepted by the holders of more than 90% of the common shares of Frontier, Eldorado is exercising its right to acquire the remaining common shares of Frontier pursuant to a compulsory acquisition under the British Columbia Business Corporations Act, as described in its bid circular. Eldorado has stated that it expects to complete the compulsory acquisition within the next 90 days.

The price of Eldorado's Offer is 0.1220 Eldorado common shares, Cdn. $0.0001 in cash and one exchange receipt for each common share of Frontier. Subject to the terms of an exchange receipt indenture, each exchange receipt entitles its holder to receive an additional 0.008 Eldorado common shares if, prior to July 1, 2009, a Joint Ministerial Resolution is issued in Greece by the Joint Ministerial Council accepting the Environmental Terms of Reference drafted by the Ministry of Environment in respect of Frontier's Perama Hill project.

How to Tender

Frontier shareholders wishing to accept the Eldorado Offer are encouraged to tender their shares by completing the letter of transmittal accompanying the documents mailed to them and returning it together with certificates representing their Frontier shares and all other documents to the offices of Kingsdale Shareholder Services Inc. in Toronto, Ontario in accordance with the instructions in the letter of transmittal. If Frontier shares are held by a broker or other financial intermediary, Frontier shareholders should contact such intermediary and instruct it to tender their Frontier shares.

This press release does not constitute an offer to buy or an invitation to sell, or the solicitation of an offer to buy or invitation to sell, any of the securities of Eldorado or Frontier. Such an offer may only be made pursuant to an offer and take-over bid circular filed with the securities regulatory authorities in Canada.

ON BEHALF OF

FRONTIER PACIFIC MINING CORPORATION

Paul N. Wright, President & Chief Executive Officer

This news release may contain forward-looking statements that are based on Frontier expectations, estimates and projections regarding its business and the economic environment in which it operates. These statements are not guarantees of future performance and involve risks and uncertainties that are difficult to control or predict. Therefore, actual outcomes and results may differ materially from those expressed in these forward-looking statements and readers should not place undue reliance on such statements. Statements speak only as of the date on which they are made, and Frontier undertakes no obligation to update them publicly or to reflect new information or the occurrence of future events or circumstances, unless otherwise required to do so by law.

The TSX Venture Exchange (the "Exchange") has not reviewed and does not accept responsibility for the accuracy or adequacy of this news release. The Exchange has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this news release.

Contact Information

  • Eldorado Gold Corporation
    Nancy Woo
    Manager, Investor Relations
    (604) 601-6650 Or 1-888-353-8166
    (604) 687-4026 (FAX)
    Email: nancyw@eldoradogold.com