CALGARY, ALBERTA--(Marketwire - July 4, 2011) - International Frontier Resources Corporation ("IFR" or the "Company") (TSX VENTURE:IFR) today reported that the Minister for the Department of Indian Affairs and Northern Development has awarded 11 licenses covering 897,890 hectares (2,218,735 acres) located in the Central Mackenzie Valley ("CMV") Northwest Territories for combined work commitments of $534 million. Proponents of the Mackenzie Valley gas pipeline were awarded six licenses comprised of Shell Canada Limited (3 licenses), Imperial Oil Resources Ventures Limited (2 licenses) and ConocoPhilips Canada Resources Corp. (1 license). Husky Oil Operations Limited was awarded 2 licenses for a work commitment of $366 million.
IFR holds an interest in 3 significant discovery licenses ("SDL") in the CMV, the SDL's are held by proven oil and gas reserves. In addition the Company holds an interest in 3 freehold parcels covering approximately 25,000 gross acres in the CMV. Husky Oil Operations Limited is the operator of the SDL's and the freehold parcels.
The Company's bid for the parcel it posted at this year's land sale in the CMV was not successful.
For additional information on the company please visit www.internationalfrontier.com.
The Company seeks safe harbor.
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 of this release.
Contact Information:
403-215-2781