Significant Shareholder Dealing

FRONTERA RESOURCES CORPORATION

Houston, Texas, U.S.A. - May 17, 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 96,124,999 ordinary shares of US$0.00004 each in the Company ("Ordinary Shares"). DDJ's beneficial interest in the Company following this sale is 234,170,689 Ordinary Shares, representing 10.89% 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: [email protected]

Nominated Adviser and Joint Broker:

finnCap Limited

Sarah Wharry

+44 (0) 20 7220 0500

Co Brokers:

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

+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