TORONTO, ONTARIO--(Marketwire - March 14, 2013) -
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE U.S.
Frontline Gold Corporation (TSX VENTURE:FGC) ("Frontline" or the "Company") announces that its Board of Directors has initiated a process to identify, examine and consider a range of strategic alternatives available to the Company with a view to enhance shareholder value.
Strategic alternatives may include, but are not limited to, a sale of all or a material portion of the assets of Frontline, either in one transaction or in a series of transactions, the outright sale of the Company, or a merger or other business combination transaction involving Frontline and a third party.
A Strategic Review Committee of the Board has been formed to oversee the review process. The Strategic Review Committee is comprised of the Company's independent directors.
Frontline has engaged Marquest Capital Markets as its financial advisor in connection with the process.
Frontline cautions that there can be no assurances that the process will result in the Company entering into a transaction or, if a transaction is undertaken, as to the terms or timing of such a transaction. The Company has not yet set a definitive schedule to complete the identification, examination and consideration of strategic alternatives. It is Frontline's current intention not to disclose developments with respect to the process unless and until the Board of Directors has approved a specific transaction or otherwise determines that disclosure is necessary or appropriate.
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.