Drawdown on Equity Line

FRONTERA RESOURCES CORPORATION

("Frontera" or the "Company")

Houston, Texas, U.S.A. - 10 February 2012

DRAWDOWN ON EQUITY LINE

Frontera Resources Corporation (London Stock Exchange, AIM Market, FRR), the oil and gas exploration and production company with assets in the country of Georgia, today announces that it has drawn down on its previously announced Standby Equity Distribution Agreement ("SEDA") with YA Global Master SPV Ltd in the amount of £800,000 (the "Draw Down").

The Draw Down has been undertaken at a price of 1.0495 pence per share, representing a 5% discount to Frontera's volume weighted average price on 7 February 2012, in accordance with the terms of the SEDA, and will result in the issue of 80,238,710 new ordinary shares of US$0.00004 each in the Company ("New Ordinary Shares"). This funding will be used to advance work programs of the Company.

Application has been made for the New Ordinary Shares to be admitted to trading on AIM, which is anticipated to occur on 16 February 2012 ("Admission"). The New Ordinary Shares will rank pari passu with the Company's existing issued ordinary shares.

Following Admission, the enlarged issued share capital of the Company will be 2,150,936,154 ordinary shares (excluding 31,652,581 shares held as treasury stock).

Enquiries:

Frontera Resources CorporationLiz WilliamsonVice President, Investor Relations and Corporate Communications(713) 585-3216[email protected]

Nominated Adviser:

Strand Hanson LimitedJames Harris / Andrew Emmott / Paul Cocker / Liam Buswell+44 (0)20 7409 3494

Brokers:

finnCap Limited

Sarah Wharry

+44 (0) 20 7220 0500

Old Park Lane Capital PlcMichael Parnes / Luca Tenuta+44 (0)20 7493 8188

Cornhill Capital LimitedNick Bealer / Stefan Olivier+44 (0)20 7710 9610

Financial PR:

BuchananTim Thompson / Ben Romney+44 (0)20 7466 5000[email protected]

Notes to Editors:

About Frontera Resources Corporation

Frontera Resources Corporation is an independent Houston, Texas, U.S.A.-based international oil and gas exploration and production company whose strategy is to identify opportunities and operate in emerging markets around the world. Frontera currently operates in the country of Georgia where it holds a 100 percent working interest in a production sharing agreement with the government of Georgia. This gives Frontera the exclusive right to explore for, develop and produce oil and gas from a 5,060 square kilometer area in eastern Georgia known as Block 12. Frontera Resources Corporation shares are traded on the London Stock Exchange, AIM Market - Symbol: FRR. For more information, please visitwww.fronteraresources.com.