International Frontier Resources Corporation
TSX VENTURE : IFR

International Frontier Resources Corporation

March 08, 2011 11:30 ET

Frontier Announces Property Sale

CALGARY, ALBERTA--(Marketwire - March 8, 2011) - International Frontier Resources Corporation ("IFR or the Company") (TSX VENTURE:IFR) has entered into a letter of intent with an arm's length public company to sell the company's 100% interest in five producing wells, pipelines and facilities located in the Alderson area of southern Alberta for a consideration of $1,050,000.

The sale is expected to close on April 28, 2011 and it will be conditional on execution of a sale and purchase agreement and other customary industry standard conditions. Proceeds from the sale, together with cash and cash equivalents of approximately $7.2 million, will be used to meet the company's 2011/2012 business plan.

The principal property's of the company are located in the Central Mackenzie Valley, NWT where IFR holds interests ranging from 8.23% to 25% in 2 Significant Discovery Licenses, 2 Exploration Licenses and 3 freehold parcels.

The company's shares are listed on the TSX-V trading under the symbol IFR. The company has 59.5 million common shares issued. For additional information on the company please visit www.internationalfrontier.com

"Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release." This news release includes forward looking statements for which the Company seeks Safe Harbor.

Contact Information