FORTUNA METALS LTD — Capital/Financing Update 2017

Jan 2, 2017

ADDRESS Unit 5, Ground Floor 1 Centro Ave, Subiaco WA, 6005 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

Market Announcements Platform

3[rd] January 2017

Extension of Closing Date for Rights Issue

Frontier Resources Limited ( Frontier ) advises the Closing Date of the pro-rata non-renounceable entitlement issue ( Offer ) announced on 30 November 2016 has been extended to Monday, 16 January 2017 at 5.00pm (AWST). Please note there will be no further extensions to the Closing Date.

The Offer is an offer to all shareholders of the Company on its register of members at 5:00pm (AWST) on the Record Date of 5 December 2016 who have a registered address in Australia and New Zealand, on the basis of one (1) New Share for every three (3) existing Shares held at an issue price of $0.03 per New Share.

Shareholders wishing to participate are encouraged to submit their Entitlement and Acceptance forms as soon as possible.

The revised timetable for the Offer is as follows:

TIMETABLE AND IMPORTANT DATES
Closingdate for acceptances15pm(AWST)	Monday,16 January2017
Deferred settlement tradingcommences	Tuesday,17 January2017
NotifyASX of under-subscriptions	Thursday,19 January2017
Issue of New Shares2	Monday,23 January2017
Deferred settlement tradingends	Monday,23 January2017
Dispatch of shareholdingstatements	Tuesday,24 January2017
Normal tradingof New Shares expected to commence	Tuesday,24 January2017

1. Subject to the ASX Listing Rules, the Directors reserve the right to extend the Closing Date for the Offer at their discretion. Should this occur, the extension will have a consequential effect on the anticipated date of issue for the Securities.

2. Dates are indicative only.

For additional information please visit our website at www.frontierresources.com.au

FRONTIER RESOURCES LTD

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P.A. McNeil, M.Sc., MAIG

Chairman and Managing Director