Significant Shareholder Dealing

For immediate release 27 January 2012

Frontera Resources Corporation

("Frontera" or the "Company")

Significant Shareholder Dealing

Houston, Texas, U.S.A. - 27 January 2012

Frontera Resources Corporation (London Stock Exchange, AIM Market: FRR), the oil and gas exploration and production company with assets in the country of Georgia received notification on 25 January 2011 that, on that same day, certain funds and/or accounts managed by DDJ Capital Management, LLC ("DDJ") sold 114,306,000 ordinary shares of US$0.00004 each in the Company ("Ordinary Shares") at a price of 1.2 pence per Ordinary Share. The shares have been placed by finnCap with institutional and other UK investors. DDJ's beneficial interest in the Company following this sale is 330,295,688 Ordinary Shares, representing 15.95% of the Company's total issued share capital. DDJ also retains approximately $11m principal amount of convertible notes due in 2016 issued by an affiliate of the Company.

Joe Lind, assistant portfolio manager of DDJ's high yield strategy, remarked:

"We are pleased to have satisfied our near term portfolio objectives. Frontera and DDJ have shared a long and mutually beneficial relationship. We look forward to continuing this relationship going forward, and we are supportive of the Company and its business plan."

For further information, please contact:

Nominated Adviser:

Strand Hanson Limited

James Harris / Andrew Emmott / Paul Cocker / Liam Buswell

+44 (0)20 7409 3494

Brokers:

finnCap Limited

Sarah Wharry / Joanna Weaving

+44 (0) 20 7220 0500

Old Park Lane Capital Plc

Michael Parnes / Luca Tenuta

+44 (0)20 7493 8188

Cornhill Capital Limited

Nick Bealer / Stefan Olivier +44 (0) 207 710 9610

Financial PR:

Buchanan

Tim Thompson / Ben Romney / Helen Chan

+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.