Fronteer Gold Inc.

Fronteer Gold Inc.

February 24, 2005 09:25 ET

Fronteer & Altius Identify Potential Extensions to Uranium Mineralization in the Michelin Deposit Area, Labrador, Canada


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: FRONTEER DEVELOPMENT GROUP INC.

TSX SYMBOL: FRG
FRANKFURT SYMBOL: FRR
OTC Bulletin Board SYMBOL: FTDGF

FEBRUARY 24, 2005 - 09:25 ET

Fronteer & Altius Identify Potential Extensions to
Uranium Mineralization in the Michelin Deposit Area,
Labrador, Canada

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Feb. 24, 2005) - Fronteer
(TSX:FRG)(OTCBB:FTDGF)(FWB:FRR) and Altius Minerals Corporation in their
50-50 alliance, have identified potential to significantly expand the
Michelin uranium deposit located in Labrador, Canada.

Previous drilling outlined the Michelin uranium deposit to a vertical
depth of approximately 300 metres but compilation and review of
historical drill hole data has shown the deposit remains open for
significant expansion below that depth.

In addition, the airborne geophysical signature of the Michelin deposit
can be traced for seven kilometres along a folded rock sequence that
also hosts the Rainbow uranium deposit. Several large uranium anomalies
along this trend are therefore, considered to be highly prospective for
additional uranium mineralization, having similar radiometric footprints
to the known deposits.

For a 3-dimensional portrayal of the Michelin deposit and geophysical
maps of the Michelin area, please use the following links from the
Fronteer website:

http://www.fronteergroup.com/i/IR/3DMichelin.jpg

http://www.fronteergroup.com/i/IR/GeoMichelin.jpg

The Michelin uranium deposit features a resource estimate of 6.4 million
tonnes grading 0.13% U3O8 (uranium oxide) containing approximately 18.3
million pounds of uranium. The deposit was historically defined by 308
drill holes and 642 metres of underground exploration workings.

The presence of vein-style mineralization in the western portion of the
Michelin uranium deposit, which assayed up to 40% U3O8, also indicates
potential for the discovery of higher-grade zones in this area.

The companies are currently reviewing the 2005 exploration project
budget, with exploration expected to commence in June.

The alliance has defined eight project areas covering 780 square
kilometers in the Central Mineral Belt through its geological and
geophysical programs over the past two years.

Four project areas include historical uranium deposits (i.e. Michelin,
Rainbow, Nash and Inda Lake). Four additional priority target areas
have been identified at Otter Lake, Jacque's Lake, Burnt Brook and Birch
Brook, which feature areas of surface uranium mineralization that have
not yet been drill tested.

Richard Hall Ph.D, P.Eng, is the Qualified Person for Fronteer on this
project. Uranium resources referred to for the Michelin, Rainbow, Nash
and Inda Lake deposits are historical in nature, pre-date, and are
non-compliant with NI 43-101. Fronteer has not undertaken an
independent investigation of the resource estimate or independently
analyzed the results of the previous exploration work in order to verify
the classification of the resources, and therefore the historical
estimates should not be relied upon. Fronteer believes these historical
estimates provide a conceptual indication of the potential of the
property and are relevant to ongoing exploration.

This News Release includes certain "forward looking statements" within
the meaning of the United States Private Securities Litigation Reform
Act of 1995. Without limitation, statements regarding potential
mineralization and resources, exploration results, and future plans and
objectives of the Company are forward looking statements that involve
that involve various degrees of risk. The following are important
factors that could cause Fronteer's actual results to differ materially
from those expressed or implied by such forward looking statements:
changes in the world wide price of mineral commodities, general market
conditions, risks inherent in mineral exploration, risks associated with
development, construction and mining operations, the uncertainty of
future profitability and the uncertainty of access to additional capital.

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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    Fronteer Development Group Inc.
    Mark O'Dea
    President & CEO
    (604) 632-4677
    or
    Fronteer Development Group Inc.
    Dan McIntyre
    Corporate Communications
    (604) 632-4677
    info@fronteergroup.com
    www.fronteergroup.com