International Frontier Resources Corporation

International Frontier Resources Corporation

March 04, 2008 13:45 ET

International Frontier Resources Corporation: Significant Discovery Licenses Granted in the Central Mackenzie Valley, NWT

CALGARY, ALBERTA--(Marketwire - March 4, 2008) - International Frontier Resources Corporation (TSX VENTURE:IFR) reported today that two Significant Discovery Licenses (SDLS) covering the Stewart D-57 gas discovery area have been approved by the Department of Indian and Northern Affairs and the National Energy Board. The SDLS, cover an area of 2304 hectares (5760 acres or 9 sections) located within EL-397. The Stewart D-57 well, which was drilled on Tulita District Freehold parcel M-38, covers an area of 1792 hectares (4480 acres or 7 sections) and forms part of the mapped productive area. The Company considers the granting of the SDLS significant as additional drilling locations have been identified on the SDLS and on parcel M-38. The granting of the SDLS, coupled with the terms of the Freehold lease, extends the expiry term of the SDLS and freehold lease until end of production. The Stewart D-57 well is the first well in the area to flow at commercial gas rates.

The Company also reported today that a Significant Discovery Application (SDA) covering the Summit Creek B-44 discovery area has been submitted to the National Energy Board for review. The Company anticipates approval on the SDA in Q2, 2008.

International Frontier holds an 8.2112% interest in SDLS and a 7.50% interest in TDL parcel M-38. The SDLS are operated by Husky Oil Operations Limited.

Statements in this press release, other than purely historical information, including statements relating to the Company's future plans and objectives or expected results, may include forward-looking statements. Forward-looking statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in resource exploration and development. As a result, actual results may vary materially from those described in the forward-looking statements.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the contents of this news release.

Contact Information

  • International Frontier Resources Corporation
    Pat Boswell
    President & CEO
    (403) 215-2781
    International Frontier Resources Corporation
    Mark Powell
    VP Exploration
    (403) 215-2783