Frontline Gold Corporation

Frontline Gold Corporation

June 22, 2011 14:04 ET

Frontline Gold Announces Loan from President and CEO

TORONTO, ONTARIO--(Marketwire - June 22, 2011) -


Frontline Gold Corporation (TSX VENTURE:FGC) (the "Company") announces that subject to TSX Venture Exchange approval, it has agreed to borrow up to $300,000 from President and CEO, Walter Henry. The loan is unsecured and bears interest at a rate of 10% per annum payable quarterly, with the provision that individual interest payments may be made in shares based on the market price at the time the interest payments are due. Any interest payment to be satisfied with shares will require a further approval from the TSX Venture Exchange. The principal amount of the loan is due and payable June 22, 2012. The loan agreement also provides for a loan bonus of 600,000 common shares, subject to TSX Venture Exchange acceptance. The loan proceeds will be used to pay incurred and ongoing exploration expenses for the Company.

The Company also announces that it has relocated its head office to Suite 1102, 67 Yonge Street, Toronto, Ontario M5E 1J8.

About Frontline Gold Corporation

Frontline Gold Corp. (TSX VENTURE:FGC) is a Canadian junior mineral exploration company with an experienced discovery team and a proven record of accomplishment. The Company's flagship Niaouleni gold project lies in the heart of Mali South in West Africa's prolific gold belt. Frontline is currently developing its gold projects in the Izmir province of Western Turkey, which consist of the Menderes, Odemis, Ordu and Kure properties. Ongoing Canadian exploration includes the Red Lake (gold) and Stewart (gold-copper-polymetallic) projects.

For further information, please visit the Company's website at 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


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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