Mar 07, 2005
Common Shares Issue
International Frontier Resources Corporation (IFR - TSX-V) today announced the Company has received TSX Venture Exchange approval for the issuance of 75,000 common shares to the Katlodeeche First Nations ("KFN"). The shares were issued pursuant to the terms and conditions of a memorandum of understanding announced on February 10th, 2005. The shares are restricted from trading until June 23, 2005.
The Company (100%) and KFN have agreed to form a joint venture to explore for hydrocarbons on KFN Traditional and Reserve lands covering approximately 3,000 square miles (1.9 million acres). The acreage is located in the southern Northwest Territories, extending from Alberta's border north to the town of Hay River, NWT. The Company plans to commence geophysical operations in Q-3, 2005.
The Company's exploration program in the Central Mackenzie Valley, NWT is currently in progress. Drilling of the Sah Cho L-71 exploratory wildcat well, and testing of the Summit Creek B-44 well, is scheduled to be completed on or before March 30th, 2005.
For additional information visit www.internationalfrontier.com or contact:
President & CEO
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. The Company seeks safe harbor.
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