FORTUNA METALS LTD — Share Issue/Capital Change 2015

Apr 21, 2015

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ADDRESS PHONE EMAIL Office J, Level 2, 1139 Hay St. +61 (08) 9295 0388 pmcneil@frontierresources.com.au West Perth WEBSITE WA, 6005, Australia ABN: 96 095 684 389 www.frontierresources.com.au

ASX: FNT

22[nd] April 2015

Dear Shareholder,

NON-RENOUNCEABLE ENTITLEMENT ISSUE

Frontier Resources Limited ( Company ) has issued a replacement prospectus ( Prospectus ) for an entitlement issue of one (1) fully paid New Share in the Company ( Share ) for every one (1) Share held by Australian and New Zealand resident shareholders at 5:00pm on 27[th] April 2015 (the Record Date ) at an issue price of $0.002 per Share to raise up to $762,951 ( Entitlement Issue ). The Entitlement Issue will result in the issue of a maximum 381,475,706 New Shares in the Company. The Prospectus was lodged with the Australian Securities and Investments Commission and ASX on 17[th] April 2015 and is available on the ASX website for inspection. The timetable for the issue is set out below:

TIMETABLE AND IMPORTANT DATES*

TIMETABLE AND IMPORTANT DATES*
Lodgement of original prospectus with the ASIC	15thApril 2015
Lodgement of original prospectus & Appendix 3B with ASX	16thApril 2015
Lodgement of replacement Prospectus with the ASIC and ASX	17thApril 2015
Notice sent to security holders	22ndApril 2015
Ex date	23rdApril 2015
Record Date for determining Entitlements	27thApril 2015
Prospectus despatched to Shareholders & Company announces despatch completed	30thApril 2015
Closing Date*	11thMay 2015
Securities quoted on a deferred settlement basis	12thMay 2015
ASX notified of under subscriptions	14thMay 2015
Issue Date	18thMay 2015
Quotation of New Shares issued under the Offer*	19thMay 2015

• The Directors may extend the Closing Date by giving at least 3 Business Days’ notice to ASX prior to the Closing Date. As such the date the New Shares are expected to commence trading on ASX may vary.

The capital structure of the Company on completion of the issue will be as follows:

Shares	Number
Share currently on issue	381,475,706
Shares offered pursuant to the Entitlement Issue	381,475,706
Total Shares on issue*.	762,951,412

*Assumes the offer is fully subscribed

In calculating entitlements under the Entitlement Issue, fractions will be rounded down to the nearest whole number. Full details of the Issue will be contained in the Prospectus that will be mailed to eligible shareholders with a registered address in Australia and New Zealand as at the Record Date. Shareholders eligible to participate should read the Prospectus carefully.

FRONTIER RESOURCES LTD

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