Fronteer keeps hitting silver in Turkey (June 27, 2007)

Vancouver – Fronteer Development Group (FRG-T, FRG-X) keeps pumping out good news. Ten days after announcing that a new combined estimate for its Agi Dagi and Kirazli silver-gold deposits has increased resources by 53% compared to the last estimate, the company released new, high-grade silver results from the deposits that were not included in the updated resource calculation.

Drilled at the southern end of the Kirazli resources area, hole KD-97 returned 532 grams silver per tonne over 23.5 metres, including 9.3 metres of 1,213 grams silver. Nearby hole KD-99 intersected 1.47 grams gold per tonne over 31.5 metres.

Drills are also turning on the Agi Dagi project, and the most recent assay returned 3.82 grams gold over 48 metres, including 6.6 grams gold over 15 metres, in hole A-298. This hole was cut to twin an earlier RC hole, A-177, which had returned 2.27 grams gold over 52.5 metres but with poor drill recoveries.

Kirazli and Agi Dagi are Fronteers two key holdings in northwestern Turkey. Fronteer owns both projects 100%, though Teck Comincos (TCK.B-T, TCK-X) Turkish subsidiary is working towards earning a 60% interest in both by spending roughly US$15 million on exploration by April 2008. Teck has to date invested some US$12 million on the projects.

The Agi Dagi deposit covers two resource areas, called the Deli and Baba zones. Deli and Baba are situated at opposite ends of a 3-km long hill. To date the site has seen 322 drill holes, totaling roughly 51,000 metres. According to the recent resource estimate, the Deli zone contains measured and indicated resources of 787,000 oz. gold and 6.7 million oz. silver (1.6 million tonnes grading 1.8 grams gold and 13.5 grams silver measured, and 18.3 million tonnes at 1.2 grams gold and 10.2 grams silver indicated). Baba holds indicated resources of 15 million tonnes grading 1.3 grams gold and 15.5 grams silver.

The Kiazli deposit lies some 25 km northwest of Agi Dagi and consists of a single, coherent, near-surface resource. A total of 170 drill holes covering 30,000 metres of drilling have defined measured and indicated resources of 348,000 oz. gold and 1.9 million oz. silver.

Both sites also hold considerable inferred resources, which the company is working to better define. Fronteer currently has three drill rigs operating on the two sites, and plans 25,000 metres of drilling in 2007.