Vancouver, British Columbia � May 9, 2008 � Frontier Pacific Mining Corporation (�Frontier Pacific� or the
�Company�) (TSX-V:FRP) has been advised that on May 9, 2008, Eldorado Gold Corporation (�Eldorado�)
formally commenced an unsolicited offer to purchase all of the outstanding
common shares of the Company, other than those already owned by Eldorado.
To assist
the Frontier Pacific board of directors in fulfilling its fiduciary duties, a
special committee of independent directors (�Special Committee�) consisting of Victor
Bradley (Chair), Ross
McDonald and Dr.
Stewart Blusson has been formed.
Thomas Weisel Partners has been engaged to provide
independent financial advice regarding the Eldorado
bid and the Company�s strategic alternatives. The Special Committee has
retained Georgeson to assist it in its communications
with Frontier Pacific shareholders. Legal counsel for Frontier Pacific
is Blake, Cassels
and Graydon LLP.
The Eldorado offer will remain open until June 17, 2008.
Accordingly, Frontier Pacific will carefully review and consider the Eldorado bid with the assistance of its independent
advisors. The board of directors will issue a response in which the
board will provide its recommendation to shareholders regarding the Eldorado bid. Frontier Pacific shareholders are
urged NOT TO TAKE ANY ACTION in relation to the Eldorado
offer until the board has had the opportunity to fully evaluate the offer.
The board of directors of Frontier Pacific will make a formal
recommendation to its shareholders on or before May 26, 2008.
In the
meantime, for further information and/or questions please contact:
Thomas Weisel
Partners
Attention: John
Jentz
70 York St. , 10th Floor
Toronto, ON M5J 1S9
Direct +1.416.815.1549
Fax +1.416.815.1808
Email jjentz@tweisel.com
GEORGESON
100
University Avenue
11th Floor, South Tower
Toronto , Ontario
M5J 2Y1
North American Toll Free: +1.866.374.9879
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