TSX-V: IFR | OTCQB: IFRTF
International Frontier Resources Corporation

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May 13, 2004

International Frontier Announces Non-Brokered Private Placement



CALGARY, AB, May 13, 2004 - International Frontier Resources (TSX-V: "IFR") reported today it has entered into a non-brokered private placement of 4,000,000 units at a price of $0.80 per unit. A unit consists of one common share, one series "A" warrant and one series "B" warrant. Two series "A" warrants entitle the holder thereof to acquire one common share at $1.15 per share for a period of 180 days. Two series "B" warrants entitle the holder thereof to acquire one common share at $1.50 for a period of 180 days from the date of exercise of the series "A" warrant. Series "B" warrants can only be exercised if the series "A" warrants are fully subscribed. The warrants contain terms which provide for conversion into common shares at the Company's option in the event the share price exceeds certain levels. The Company has agreed to pay a commission in the form of 400,000 series "C" warrants exercisable on a one for one basis at $1.00 per share for a period of 180 days. If all warrants are fully exercised the Company will issue 8.4 million common shares for gross proceeds of $8.9 million. The shares issued pursuant to the unit offering will be restricted from trading for the four months period following TSX Venture Exchange approval.

Proceeds of the offering will be used for further exploration on the Company's Northwest Territories oil and gas exploration project and for further development of the Company's SIDOX operation.

It is expected that management will be participating in this private placement. The private placement is subject to TSX Venture Exchange approval.

The Company's shares are listed on the TSX Venture Exchange trading under the symbol IFR. For additional information visit the Company's website at www.internationalfrontier.com or contact:


Pat Boswell
403-215-2780

Mark Powell
403-215-2783

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the contents of this news release. This news release is not intended for distribution to US news wire services or for dissemination in the United States and does not constitute an offer of the securities described herein.
 
 

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