Frontline Gold Corporation

TSX VENTURE : FGC


Frontline Gold Corporation

January 30, 2013 14:44 ET

Frontline Amends the Terms of Its Option Agreement Regarding the Menderes Gold Property in Western Turkey

TORONTO, ONTARIO--(Marketwire - Jan. 30, 2013) -

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Frontline Gold Corporation (TSX VENTURE:FGC) ("Frontline" or the "Company") is pleased to announce that the final payment on the property option agreement with ENA Mad. TIC VE NAK. LTD. STI ("ENA") press released on August 25, 2010 (the "Option Agreement") in regards to its Menderes property in western Turkey (the "Property") has been amended and extended by 6 months during which the Company is to make 6 monthly payments, that commenced January 24th, 2013.

Under the terms of the amendment to the Option Agreement (the "Amendment"), the Company is to make an additional US$10,000 cash payment on or before June 28, 2013, as consideration for the 6 month extension of the Option Period. Pursuant to the Amendment, the option payment of $100,000 due December 31, 2012 was amended as follows:

January 24, 2013 US$20,000 (paid)
February 28, 2013 US$20,000
March 29, 2013 US$20,000
April 30, 2013 US$20,000
May 30, 2013 US$20,000
June 28, 2013 US$10,000
Total US$110,000

At the end of June 28, 2013, the Company will have acquired a 100% interest in the Property for $235,000, subject to ENA retaining a 2% NSR on the Property of which 50% may be acquired for $1,000,000.

Frontline's Menderes project, located in Izmir province, western Turkey and located only 20 km from the provincial capital of Izmir, consists of 62 km2 in a high potential epithermal gold environment. The exploration focus of Menderes is the eastern strike extension of Eldorado Gold Corporation's Efemcukuru gold mine, which began operation in mid-2011.

Update

As highlighted in the Company's November 8, 2012 press release, Frontline continues to engage in active discussions with several interested parties in an effort to monetize its interest in the Menderes project.

Finally, early stage prospecting and review of compilation work of properties in Turkey continues with the objective of adding to Frontline's Turkish portfolio.

Commentary

"We are pleased to have extended the agreement period," said President and CEO Walter Henry. "Furthermore, I am pleased with the level and progress of the discussions that we have been having with parties interested in our 100% owned Menderes Project."

About Frontline Gold Corporation

Frontline is a Canadian junior mineral exploration company with an experienced discovery team and a proven record of accomplishment. The Company's flagship properties include the Menderes gold project in the Izmir province of Western Turkey and the Niaouleni gold project in southern Mali in the heart of West Africa's prolific gold belt. Ongoing Canadian exploration includes the Poly (gold VMS) and the Stewart (gold-copper porphyry) projects.

For further information, please visit the Company's website at www.frontlinegold.com to view the most recent corporate presentation.

This news release contains forward-looking statements, which address future events and conditions, which are subject to various risks and uncertainties. The Company's actual results, programs and financial position could differ materially from those anticipated in such forward-looking statements as a result of numerous factors, some of which may be beyond the Company's control. These factors include: the availability of funds; the timing and content of work programs; results of exploration activities and development of mineral properties, the interpretation of drilling results and other geological data, the uncertainties of resource and reserve estimations, receipt and security of mineral property titles; project cost overruns or unanticipated costs and expenses, fluctuations in metal prices; currency fluctuations; and general market and industry conditions.

Forward-looking statements are based on the expectations and opinions of the Company's management on the date the statements are made. The assumptions used in the preparation of such statements, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements.

Walter Henry, President & CEO

FRONTLINE GOLD CORP.

Neither TSX Venture Exchange nor its Regulation Services Provider (as defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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