FORTUNA METALS LTD — Capital/Financing Update 2017

Sep 19, 2017

ADDRESS Unit 5, 1 Centro Avenue Subiaco, WA, 6008 Australia

PHONE EMAIL +61 (8) 9486 4036 pmcneil@frontierresources.com.au ABN WEBSITE 96 095 684 389 www.frontierresources.com.au

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ASX: FNT

20[th] September 2017

Successful Close of Share Purchase Plan

Frontier Resources Limited ( Frontier ) is pleased to announced it has raised $405,890 through the issue of 23,875,883 shares at an issue price of 1.7¢ per share ( Capital Raising ). The Capital Raising comprised the completion of the Share Purchase Plan ( SPP ) announced on 10 August 2017 which closed on 14 September 2017 with applications for 22,558,235 shares totalling $383,489 and an additional placement of 1,317,647 shares pursuant to the Company’s placement capacity under ASX Listing Rule 7.1.

Commenting on the successful Capital Raising, Frontier’s Managing Director, Mr Peter McNeil said:

The Board of Frontier is delighted with the support shown by the Company’s shareholders in a difficult market for junior exploration companies.

Ninety two shareholders participated in the Share Purchase Plan with the funds raised enabling Frontier to continue high priority exploration in Papua New Guinea as soon as possible.

The proceeds of the Capital Raising will be used for gold and porphyry copper-gold exploration on the Company’s Muller and Andewa ELs, the Tolukuma Region EL Application and for working capital.

For further information, please contact the Company Secretary on (08) 9486 4036.

FRONTIER RESOURCES LTD

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P.A.McNeil, M.Sc., MAIG Chairman and Managing Director