Update on Status: Acquisition of Coville interests

 9 March 2011

Frontier Mining Ltd

("Frontier" or the "Company")

Update on Status of Acquisition of Coville Interests

Frontier Mining Ltd (AIM: FML), the AIM listed gold and copper exploration and development company focused on Kazakhstan, is pleased to provide an update on the progress of the Company's acquisition from Coville Intercorp Ltd ("Coville") of its 50% interest in the Benkala Copper Project and 100% interest in the Maminskaya Gold Project.

As has been announced previously, the Company is awaiting the approval of the Ministry of Industry and Trade of Kazakhstan' (the "MIT" or the "Ministry") to complete the acquisition. The essence of that approval is a written statement by the MIT that the Government of Kazakhstan will not exercise its preemptive right to acquire Coville's 50% interest in Benkala.

The approval process can be summarised as follows:

The application for the acquisition has to be submitted to the MIT and, after various departments have issued their opinions, the application is then presented to the Expert Committee of the MIT. If the Expert Committee of the MIT decides that the case should be sent to a higher governing body, then the application will be sent to the Inter-Ministerial Committee (the "IMC") for consideration.

If the IMC decides that the transaction might be of interest to the government, then the case will be sent to the government owned mining company, Tauken-Samruk, for review.

Tauken-Samruk's investment committee then decides whether or not they wish to be a part of the transaction. Their decision is sent to the Ministry which brings it up to the IMC for ruling.

In the case of Frontier, the delay occurred due to the re-organisation of Kazakhstan's Ministry of Natural Resources in February 2010, which became the Ministry of Oil & Gas. All mining companies' issues were then transferred to the MIT and no Inter-Ministerial Committee was formed from March until late December 2010.

Frontier's application was submitted to the MIT in July 2010 and by late August 2010 had been reviewed by all departments and the Expert Committee of the MIT, who decided that the application should be referred to the IMC. However the application process was then delayed until 23 December 2010, when the newly formed IMC was convened for the first time.

As expected, on 23 December 2010, the IMC sent the case to Tauken-Samruk for review and decision. Tauken-Samruk received the request in late January 2011, as the Ministry and the IMC had to approve certain procedures to send such requests. In the first week of February 2011, Frontier submitted a requested package of documents to Tauken-Samruk for review by its various departments. Frontier's understanding is that its application will be reviewed and ruled on at the next available Investment Committee of Tauken-Samruk. The decision will then be announced to the market.

That decision will then be presented by the MIT to the next IMC for ruling, and based on that ruling the Ministry can then issue its statement. The Company cannot say when the next IMC will take place. However, Frontier is hopeful that there will be a meeting in March or April 2011, during which its application will be presented. It is expected that there should be no more than two to three weeks between the IMC ruling and the Ministry's statement.

The Company plans to keep the market informed regularly on the status of the acquisition.

For further details please contact:

Notes to Editors

About Frontier Mining Ltd:

Frontier Mining Ltd. is a mineral exploration and development Company that is incorporated in the Cayman Islands for the purpose of exploring and developing gold and copper deposits in the Republic of Kazakhstan. Through its subsidiaries and affiliates, Frontier locates, evaluates, acquires, explores and develops mineral properties.

Frontier currently owns two licenses in Kazakhstan. They are the Naimanjal exploration and mining licence, held by FML Kazakhstan, and, 50% of U.S. Megatech BVI which holds the Benkala licence, via KazCopper LLP. FML Kazakhstan is a wholly-owned subsidiary of Frontier Mining Ltd.

Frontier has one producing gold mine, Koskuduk; and a 50% interest in the Benkala copper mine, currently under development with initial production planned in 2011. The remaining 50% of Benkala is owned by Coville Intercorp Ltd. ("Coville"), a private Kazakh mining group with whom the Company has previously announced a proposed merger which is conditional on the granting of certain government consents and approvals.

A Competent Persons Report ("CPR") valuation report on the oxide section of the Benkala project completed by Wardell Armstrong International ("WAI") in June 2010 has resulted in an NPV of $190 million based on 0.5% diluted copper grade, 63% recovery and 185 000 ton of contained metal and 6,000 USD per tonne copper price. The oxide copper project represents development of approximately 10% of the total resource at Benkala and Frontier will use the production platform of the SX-EW project to finance further evaluation and technical studies required to advance development of the significant Benkala sulphide resource.

Frontier also has a potential copper porphyry deposit with associated gold and molybdenum, Baitimir; and several copper/gold prospects along a 25-km trend including both VMS and porphyry types. Metallurgical tests on its Beschoku and Yubileiny copper projects confirm the oxide copper ore is amenable to extraction using low cost SX-EW technology.

Frontier maintains an administrative and technical office in Almaty, the former capital city of Kazakhstan and the main business centre in the southeast. The Company also maintains offices in Semipalatinsk and Aktyubinsk, close to the Naimanjal and Benkala operations respectively.

Issued Share Capital

Frontier Mining's shares are traded on the AIM market of the London Stock Exchange.

Frontier has 1,860,913,973 ordinary shares issued.

For further information please visit: www.frontiermining.com.