Significant Shareholder Dealing

FRONTERA RESOURCES CORPORATION

Houston, Texas, U.S.A. - October 18, 2012

Significant Shareholder Dealing

Frontera Resources Corporation (London Stock Exchange, AIM Market - Symbol: FRR), an independent oil and gas exploration and production company, has been notified by DDJ Capital Management, LLC ("DDJ") that certain funds and/or accounts managed by DDJ sold 17,238,783 ordinary shares of US$0.00004 each in the Company ("Ordinary Shares") to a company associated with Steve C. Nicandros, Director and Chief Executive Officer of Frontera Resources as disclosed on October 12, 2012. The beneficial interest in the Company held by such funds and/or accounts managed by DDJ following this sale is 216,931,906 Ordinary Shares in the aggregate, representing 9.44% of the Company's total issued share capital.

Enquiries:

Frontera Resources Corporation

Liz Williamson

Vice President, Investor Relations and Corporate Communications

Office: (713) 585-3216

Email: lwilliamson@fronteraresources.com

Nominated Adviser and Joint Broker:

finnCap Limited

Matt Goode/Chris Raggett

+44 (0) 20 7220 0500

Joint Broker:

Cornhill Capital Limited

Nick Bealer/Stefan Olivier

+44 (0) 207 710 9610

Financial PR:

Buchanan

Tim Thompson / Helen Chan/Tom Hufton

+44 (0)20 7466 5000

timt@buchanan.uk.com

Notes to Editors:

About Frontera Resources Corporation

1. 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 in Eastern Europe around the Black Sea. 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 visit www.fronteraresources.com .