FORTUNA METALS LTD — Board/Management Information 2010

Jan 19, 2010

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

www.frontierresources.com.au

ASX Limited Company Announcements Office

Announcement

20th January 2010

Board of Directors Restructure

Frontier Resources Ltd announces that Mr Robert McNeil has resigned as Chairman of the Company for personal reasons.

Mr Robert (Bob) McNeil has been the Chairman since Frontier’s inception and has contributed significantly to the development of the Company. The Board extends its appreciation to Bob for his leadership and guidance over the last 8 years and wishes him all the best for the future.

The role of Chairman will be fulfilled by Managing Director, Peter McNeil B.Sc. (1982) and M.Sc. (Geochemistry-1985), University of Houston, Texas.

Peter has accumulated 27 years continuous professional post–graduate mineral exploration industry experience, with 25 of those in Papua New Guinea (including the Lihir gold Deposit). He has also worked several field seasons in Tasmania, WA’s Kimberley and NE Goldfields, Arizona (U.S.A.) and Newfoundland (Canada). He was consultant site supervising geologist on the ‘discovery' holes of both the Nimary and Sunrise Dam gold ore bodies in WA, which became the largest and second largest gold discoveries in Australia during the 1990's totalling about 15 million ounces combined.

Mr Peter McNeil possesses 16 years corporate and managerial experience as a Director, Managing Director and President associated with several ASX and TSX-V listed companies. He is currently Chairman of Coppermoly Ltd (ASX:COY) and was a co-founding director of New Guinea Gold Corporation (TSX-V: NGG).

Peter is a member of the Australian Institute of Company Directors, the Australian Institute of Geoscientists, the Society of Economic Geologists, the Society for Geology Applied to Mineral Deposits and the Society of Resource Geology. He is the principal of a private mineral exploration consultancy (Exploration & Management Consultants Pty Ltd), which has provided a varied range of exploration and corporate services to the minerals exploration industry for the past 19 years.

Please visit our website at www.frontierresources.com.au or feel free contact me for additional information relating to Frontier Resources Ltd.

FRONTIER RESOURCES LTD

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