Frontline Gold Corporation
TSX VENTURE : FGC

Frontline Gold Corporation

November 17, 2010 09:06 ET

Frontline Gold Corp.: TSX Approves Disposition of Jubilee Zinc Lead Project

HALIFAX, NOVA SCOTIA--(Marketwire - Nov. 17, 2010) - Walter Henry, President and CEO of Frontline Gold Corporation ("Frontline") (TSX VENTURE:FGC) announces that the TSX Venture Exchange has approved the sale of Frontline's 50% interest in the Jubilee Zinc Lead Project.

Sale of Jubilee

The TSX Venture Exchange issued final approval to both Frontline and Merrex Gold Inc. ("Merrex") for the sale of Frontline's 50% interest in the Jubilee Zinc Lead Project and related surface rights to Merrex for $500,000, to be paid by the issuance of 1,000,000 common shares of Merrex at a deemed issue price of $0.50/share.

Frontline is related to Merrex by way of common directors. The transaction was approved by Frontline shareholders in a general meeting on September 30, 2010.

Commentary

"As I have previously stated, I am transitioning Frontline into a pure gold corporation" said President and CEO Walter Henry. "Frontline has the Niaouleni Gold Project in West Mali, an expanding land position contiguous to Eldorado's Efemçukuru in Turkey, the Poly and Stewart gold properties in British Columbia, and the Red Lake gold prospects in Ontario. With the sale of Jubilee for shares of Merrex, Frontline now has an equity investment in the continuing expansion of Merrex's Siribaya Gold Project in West Mali."

Closing of the transaction is scheduled for November 24, 2010.

Frontline is re-positioning itself as a pure-gold exploration company with experienced management, a solid exploration team and a promising portfolio of gold exploration projects offering investors an excellent opportunity.

Please visit our website at www.frontlinegold.com for the most recent presentation.

On Behalf of the Board

Walter Henry, CFA, ICD.D., President & CEO

This press release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address future exploration drilling, exploration activities and events or developments that the Company expects, are forward looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions.

Neither the 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.

Contact Information

  • Frontline Gold Corporation
    1550 Bedford Highway, Suite 802, Sun Tower
    Bedford, NS B4A 1E6
    (902) 832-5555
    (902) 832-2223 (FAX)
    info@frontlinegold.com