11-04
Fronteer Gold Inc. (FRG - TSX/NYSE Amex)
announces today that it has completed the sale of 100% of the uranium
assets of Aurora Energy Resources Inc., a wholly owned subsidiary of Fronteer Gold, to Paladin Energy Ltd. (PDN - ASX/TSX)
pursuant to an Asset Sale Agreement which was entered into on December 17,
2010.
Under the terms of the completed Agreement, Fronteer
Gold will receive 52.1 million common shares of Paladin. Fronteer Gold is now the largest Paladin shareholder at
approximately 6.7%.
ABOUT FRONTEER
GOLD
We intend to become a significant gold producer.
Our future potential production platform includes our Long Canyon, Sandman
and Northumberland projects - all located in Nevada. We also have a
40% interest in Halilaga, an emerging copper-gold
porphyry deposit in northwestern Turkey. For further information on Fronteer Gold, visit www.fronteergold.com or contact:
Mark
O'Dea, President & CEO
John Dorward, VP, Business Development
Patrick Reid, Senior Director, Institutional Marketing
Phone 604-632-4677 or Toll Free 1-877-632-4677
info@fronteergold.com
Except for the statements of historical fact
contained herein, certain information presented constitutes
"forward-looking statements" within the meaning of the United
States Private Securities Litigation Reform Act of 1995. Such
forward-looking statements, including but not limited to, those with
respect to potential expansion of mineralization, potential size of
mineralized zone, potential type of mining operation and timing and size of
exploration and development programs involve known and unknown risks,
uncertainties and other factors which may cause the actual results,
performance or achievement of Fronteer Gold to be
materially different from any future results, performance or achievements
expressed or implied by such forward-looking statements. Such factors
include, among others, risks related to the actual results of current
exploration activities, conclusions of economic evaluations, uncertainty in
the estimation of ore reserves and mineral resources, changes in project
parameters as plans continue to be refined, future prices of gold and
silver, environmental risks and hazards, increased infrastructure and/or
operating costs, labor and employment matters, and government regulation
and permitting requirements as well as those factors discussed in the
section entitled "Risk Factors" in Fronteer
Gold's Annual Information form and Fronteer
Gold's latest Form 40-F on file with the United States Securities and
Exchange Commission in Washington, D.C. Although Fronteer
Gold has attempted to identify important factors that could cause actual
results to differ materially, there may be other factors that cause results
not to be as anticipated, estimated or intended. There can be no assurance
that such statements will prove to be accurate as actual results and future
events could differ materially from those anticipated in such statements. Fronteer Gold disclaims any intention or obligation to
update or revise any forward-looking statements, whether as a result of new
information, future events or otherwise. Accordingly, readers should not
place undue reliance on forward-looking statements.
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