HALIFAX, NOVA SCOTIA--(Marketwire - April 12, 2011) - Walter Henry, President and CEO of Frontline Gold Corporation ("Frontline")(News - Market indicators) announces that, subject to TSX Venture approval, Frontline will make $40,000 of property payments by way of a shares-for-debt settlement.
Payments of $20,000 each due on the Stewart Property and Poly Properties will be settled by the issuance of 228,572 common shares from treasury based on the closing price on March 31, 2011 of $0.175 per share. The shares will be issued to Ralph R. Weekes (91,428 shares), John L. Tranter ( 68,572 shares) and James R. Cameron (68,572 shares). The debt settlement is subject to TSX Venture approval.
Frontline holds options on two land packages, the Stewart Property (76 mineral claims aggregating approximately 29,280 hectares or 292 square kilometres) and the Poly Property (12 mineral tenures aggregating approximately 3,281hectares) in the Stewart Gold Camp region. The Stewart Gold Camp in north western British Columbia is an emerging, world class mining district that offers discovery opportunities for major gold-copper and precious metal polymetallic deposits.
Frontline is a gold-focused exploration company with an experienced management group, a solid exploration team and a portfolio of gold exploration projects offering investors exposure to a promising suite of gold exploration properties.
Please visit our website at www.frontlinegold.com for the most recent presentation.
On Behalf of the Board
Walter Henry,
President & CEO, Frontline Gold Corporation
