IFR International Frontier Resources Corp

International Frontier Resources Corporation ("Frontier" or the "Company") (TSX
VENTURE:IFR) reported today that the Company has entered into agreements with
ten vendors to purchase title to their freehold acreage located in northwest
Montana for a purchase price of US$3,183,133. The Company will initially pay
$2,121,876 with the balance of $1,061,256 being held in a trust account until a
title opinion has been completed. If the title opinion indicates that the
vendors own less than 17,082 net acres, or more than 17,082 net acres, the
purchase price will be adjusted accordingly using US$186.33 per net acre.


Frontier's fee acreage is located on the Blackfeet Reservation, Glacier County
northwest Montana where Anschutz Exploration (private), Newfield Exploration
(NFX-Z) and Rosetta Resources (ROSE-Q) have drilled discovery wells. The
discovery of moveable oil in tight rock in Montana kicked off the Alberta Basin
Bakken Petroleum System play ("ABPS") which is currently being explored and
appraised in northwest Montana and southwest Alberta.


The majority of Frontier's fee acreage is currently under lease to Newfield
Exploration and Anschutz Exploration. The existing leases reserve, in favor of
the Lessor (Frontier), gross over-riding royalties ranging from 12.50% to
18.75%. The existing leases expire over the period 2011 - 2016. The acreage is
located on the postulated over-pressured ABPS play fairway and within close
proximity to wells drilled by Anschutz, Newfield and Rosetta on the Montana side
and Crescent Point (CPG-T), Murphy Oil (MUR-Z) and Royal Dutch Shell (RDS-Z)
just across the border on the Alberta side. 


The ABPS play is a light tight oil ("LTO") resource play which is characterized
as a self sourcing hydrocarbon system with thermally mature source rocks in the
Bakken shales in Montana and the Exshaw shales in southern Alberta. Based on
available data the Blackfeet Reserve area is interpreted to be a Deep Basin LTO
resource play with pervasive petroleum saturation, over pressured reservoirs, no
water and the presence of light API oil. The Blackfeet Reserve is located on the
eastern fore-front of the Rocky Mountains therefore there is a good chance for
natural rock fracturing in the prospective reservoir targets which, if
encountered, should increase production rates and recoverable reserves. This
unique geological setting offers multiple stacked zones, which include the
Lodgepole, Bakken, Three Forks, Nisku and Cone. 


The two public companies exploring on the Blackfeet Reserve, Newfield and
Rosetta, have in their Q1, 2011 operations updates stated the following;
"Newfield has drilled seven vertical wells, completed and placed on production
two horizontal wells, and is preparing to drill an eighth vertical well. All
wells to date have encountered oil. Newfield has 280,000 net acres in the play,
located in Glacier County Montana. Multiple prospective geological formations
throughout the acreage are planned for evaluation". In a Q1, 2011 update Rosetta
said "Rosetta's 11-well vertical drilling program to assess the commerciality of
the play across its approximately 300,000-acre position in northwest Montana is
nearing completion. The company has two rigs under contract in Q1, 2011. As of
March 31, 2011, eight vertical delineation wells had been drilled with
operations underway on the ninth and tenth vertical wells. In Q2, 2011 Rosetta
will spud the first of three horizontal wells". Rosetta have also stated that
they have "confirmed significant oil hydrocarbons in place and over-pressured
reservoirs, with an estimated 13 - 15 million barrels oil equivalent resource in
place per square mile (640 acres)". Scouting reports indicate that Anschutz have
also discovered oil on their Blackfeet acreage. 


The map below indicates well licenses issued by the Montana Department of
Natural Resources and Conservation as of March 31, 2011 as well as townships in
which Frontier owns fee acreage. 


To view the Drilling Activity N.W. Montana map, please visit the following link:
http://media3.marketwire.com/docs/531ifr_drilling.pdf 


In 2010 - 2011 the ABPS play was extended into southern Alberta with discovery
wells drilled by Argosy Energy (GSY-T), Crescent Point (CPG-T), Deethree
(DTX-T), Murphy Oil (MUR-Z), Nexen Inc. (NXY-T) and Royal Dutch Shell (RDS-Z). 


To view the Tight Oil Fairway - The Players map, please visit the following
link: http://media3.marketwire.com/docs/531ifr_fairway.pdf 


In a research report dated April 2011 BMO Capital Markets Oil & Gas "estimates
that from January 2009 to March 31, 2011 industry has spent approximately $518
million along the ABPS fairway for land, bonus and farm-ins to establish land
positions in southwest Alberta and northwest Montana. As of March 31, 2011 a
total of 59 wells (32 in Alberta and 27 in Montana) have either been drilled or
licensed. At an estimated cost of $4 million per well for the 59 wells industry
have committed approximately $245 million for drilling". 


Commenting on the purchase Frontier said "it had been seeking an opportunity to
get involved in an oil resource play that would not involve major dilution to
its shareholders. The fee acreage we acquired provides excellent exposure to an
emerging light tight oil resource play that is being explored and appraised on
both sides of the border. Based on the number of vertical wells drilled to date
on the Blackfeet Reserve it is fair to assume that operators have gathered
enough reservoir data to understand rock properties therefore the next stage of
development will likely include horizontal wells and multi-stage fracturing to
achieve optimum production rates and recovery factors. As the Company's fee
lands do not expire we have numerous options available to exploit our Montana
acreage portfolio, the most appealing of which is drilling 100% net revenue
wells". 


The Company's shares are listed on the TSX-V trading under the symbol "IFR". For
additional information on the Company's projects please visit our website at
www.internationalfrontier.com.

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