27 metres Grading 66.8 g/t Gold and

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1 ADDRESS PHONE PO Box (8) North Perth FAX WEBSITE WA 6906 Australia +61 (8) ASX Limited Company Announcements Office Announcement ABN ASX : FNT 17th March metres Grading 66.8 g/t Gold and 1.5 metres grading 5.59 g/t gold+ 2,555 g/t silver copper zinc in Continuous Outcrop Channel Samples, Bulago Exploration License Frontier Resources Ltd is very pleased to announce that the very high-grade gold and excellent overall mineral prospectivity of the Bulago EL in Papua New Guinea have been further enhanced, with high-grade gold outcrop channel sample assays returned from each prospect. The last remaining rock assay results from the EL1595 exploration program that was conducted in late 2009 are highlighted below. Assay locations are shown in Figure 1 and rock and outcrop photos are shown in figures 2-5. Suguma Prospect Central Creek Area Highlights Continuous chip outcrop channel sample assays from the Upper Central Creek Zone included 12 metres grading 138 g/t gold + 49 g/t silver, within an interval of 27 metres grading 66.8 g/t gold + 25 g/t silver (see table 1 below for individual 3 metre assays). Peak assay results in that interval included 3 metres grading 303 g/t gold, 125 g/t silver and 8.89 zinc. Two discrete high-grade gold horizons were located in outcrop within the Central Creek Zone. The Upper Zone of high-grade gold mineralisation (noted above) has its width open to the north, with the final 3 metre channel sample grading 161 g/t gold + 47 g/t silver. Its strike extent appears to be >160 metres to the east (past East Creek). The grade of a composite channel sample from the Lower Zone was inadvertently and incorrectly reported to the ASX on 1/3/2010 as being 15 metres grading g/t gold (due to an averaging error). This interval is actually 3 metres longer and 3 times higher in grade being 18 metres grading 40.3 g/t gold. See table 2 for the individual assay results. These horizons were both sampled basically north south (up the creek) and are separated horizontally by 50 metres. The outcrop continuous chip samples were collected where possible by their exposure and orientation and do not necessarily represent true widths of mineralisation. Bulalo (Au- K1) Prospect Highlights High grade silver mineralisation was noted in a 1.5m wide quartz sulphide vein outcrop. Two grab samples over the interval assayed 7.04 g/t gold + 3,150 g/t silver copper zinc and 4.14 g/t gold + 1,960 g/t silver copper zinc, respectively. Funutu Prospect Highlights Intrusive outcrop grab rock samples assayed 8.33 g/t gold + 44 g/t silver and 3.30 g/t gold + 25 g/t silver. Semi massive sulphide outcrop rock samples assayed to 0.3 metre of 2.85 g/t gold g/t silver copper zinc lead. Skarn float assayed to 16.9 zinc + 20 g/t silver and outcrop assayed to 5m of 0.18 copper g/t gold in several samples.

2 There were several additional rock samples with interesting gold and/or silver and/or copper and/or zinc assays, including gold to 4.27 g/t copper. Figure 1 shows the locations of continuous chip channel sample gold assay highlights at the Suguma Prospect (2009/2010 program). Page 2 of 5

3 Table 1. Suguma Prospect - Upper Central Creek Continuous Channel Chip Sample Assay Results Sample Length Gold g/t Silver g/t Copper () Pb Zn Sample Number 0 to 3m 9.49 < to 6m to 9m 1.94 <5 < to 12m to 15m to 18m to 21m to 24m to 27m m grading incl. 12m grading Photo 1 (right) shows a grab sample from the interval where the final 161 g/t gold sample was collected, near the top of photo 2. Photo 2 (below) shows the Upper Central Creek mineralised zone grading 27m of 66.8 g/t gold, looking north, prior to channel sampling. The Lower Central Creek channel interval described below is located about 50m south of this photo. The 10 times difference in zinc concentrations suggests they are geochemically different zones. Shown is PNG Senior Consultant Geologist - Charles Yobone. Page 3 of 5

4 Table 2. Suguma Prospect - Lower Central Creek Continuous Channel Chip Sample Assay Results Sample Length Gold g/t Silver g/t Copper () Pb Zn Sample Number 0 to 3m to 6m to 9m to 12m to 15m to 18m m grading incl.12m grading Photo 3 (right) shows a grab sample from part of the 3m of 142 g/t gold interval that was collected from Lower Suguma. Photo 4 (below) shows part of the Lower Central Creek mineralised zone of 18m grading 40.3 g/t gold, looking east, prior to channel sampling. Page 4 of 5

5 Photo 5 shows the Funutu Prospect semi massive sulphide outcrop that assayed 0.3m of 2.85 g/t gold g/t silver copper zinc lead. Trench sample assay results from the bulk low grade Bulalo (Au K-1) Prospect at the Bulago Exploration license will be released shortly. For additional information relating to the Bulago Project or Frontier Resources Ltd, please see the ASX releases dated 2/9/2008, 11/9/2009 and 23/11/2009, 15/1/2010, 1/3/2010, visit our website at or feel free contact me. FRONTIER RESOURCES LTD P.A.McNeil, M.Sc. MANAGING DIRECTOR The information in this report that relates to Exploration Results is based on information compiled by, or compiled under the supervision of Peter A. McNeil - Member of the Aust. Inst. of Geoscientists. Peter McNeil is the Managing Director of Frontier Resources, who consults to the Company. Peter McNeil has sufficient experience which is relevant to the type of mineralisation and type of deposit under consideration to qualify as Competent Person as defined in the 2004 Edition of the Australasian Code of Reporting Exploration Results. Peter McNeil consents to the inclusion in the report of the matters based on his information in the form and context in which it appears. Page 5 of 5