FORTUNA METALS LTD — AGM Information 2009

Nov 25, 2009

ADDRESS PHONE EMAIL PO Box 35 +61 (8) 9295 0388 info@frontierresources.com.au North Perth FAX WEBSITE WA 6906 Australia +61 (8) 9295 3480 www.frontierresources.com.au

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ABN 96 095 684 389 ASX : FNT

ASX Limited Company Announcements Office

Announcement

26th November 2009

Clarification to Slide 22 of the AGM Presentation Release

Frontier Resources Ltd has been asked by the ASX to release a clarifying statement by 5pm WST today regarding slide 22 of the AGM Presentation released yesterday that stated:

“Targets are porphyry copper-gold- silver-molybdenum deposits with 200M to 1billion tonnes grading 0.4% to 0.8% copper equivalent, from near surface, high-grade zinc- silver-gold skarns and high grade shear hosted gold (NB: This is a target only and may not be achieved)”.

The JORC Code states that the main principals governing its operation and application are transparency, materiality and competence. Clause 18 of the JORC Code states “Any such information relating to exploration targets must be expressed so that it cannot be misrepresented or misconstrued as an estimate of Mineral Resources or Reserves.” Clause 18 also states “....must include 1) a detailed explanation of the basis of the statement and 2) a proximate statement that the potential quantity and grade is conceptual in nature, that there has been insufficient work to define a Mineral Resource and that it is uncertain if further exploration will result in the determination of a Mineral Resource.”

Slide 22 has now been modified to say:

“Targets are porphyry copper-gold- silver-molybdenum deposits with 200 million to 1billion tonnes grading 0.4% to 0.8% copper equivalent (from near surface), plus high-grade zincsilver-gold skarns and high-grade shear hosted gold (NB: This target is based on typical Island Arc Porphyry copper deposit sizes /grades and known drill hole assay grades from the nearby Esis Deposit. It is a conceptual target only, there are no defined resources and resources may never be defined)”.

Please refer to the revised presentation.

FRONTIER RESOURCES LTD

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P.A.McNeil, M.Sc. MANAGING DIRECTOR

The information in this report that relates to Exploration Results is based on information compiled by, or compiled under the supervision of Peter A. McNeil - Member of the Aust. Inst. of Geoscientists. Peter McNeil is the Managing Director of Frontier Resources, who consults to the Company. Peter McNeil has sufficient experience which is relevant to the type of mineralisation and type of deposit under consideration to qualify as Competent Person as defined in the 2004 Edition of the Australasian Code of Reporting Exploration Results. Peter McNeil consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.