FRONTIER ENERGY LIMITED — Capital/Financing Update 2011

Apr 7, 2011

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Date: 8[th ] April 2011

Ishine Earned 49% Interest in Mt Watson and Boomarra Projects from Kabiri

HIGHLIGHTS

• Kabiri confirmed that Ishine earned 49% interest in both Boomarra and Mt Watson projects

• Ishine confirmed to Kabiri that Ishine would explore further towards earning 70% in both projects

• Ishine extended its Boomarra project tenure by an additional 15km of strike to the south

Ishine International Resources Ltd (ASX: ISH) is pleased to announce that as of 31[st] March 2011 the Company has earned 49% undivided interest in both Mt Watson and Boomarra projects in northwest Queensland.

The Boomarra Project is a single tenement EPM15723 and is situated approximately 100km north of Cloncurry in northwest Queensland. The tenement covers an area of 119.8 km² and extends for nearly 30km in a NNE direction striking along the Melinda Downs Fault. In late 2009, Ishine signed a farm-in Heads of Agreement with Kabiri Resources Pty Ltd to allow Ishine to earn a 49% and 70% undivided interest from the Project area by spending a total of $450,000 and $950,000 of exploration expenditure within the first 24 and 42 months of the Effective Date of 31[st] March 2010, respectively.

The Mt Watson Project has two tenements EPM15933 and EPM15986 and is situated approximately 120km north of Mt Isa in northwest Queensland. The tenement covers an area of 63.6 km² in a district with extensive copper mineralization. In late 2009, Ishine signed a farm-in Heads of Agreement with Kabiri Resources Pty Ltd to allow Ishine to earn a 49% and 70% undivided interest from the Project area by spending a total of $350,000 and $800,000 of exploration expenditure within the first 24 and 42 months of the Effective Date of 31[st] March 2010, respectively.

Following Kabiri’s review of Ishine’s exploration expenditure over the 12 months period to the 31[st] March 2011, Kabiri confirmed to the Company on the 7[th] April 2011 that Ishine had earned a 49% interest in each of the two projects.

Ishine International Resources Limited Level M, 35-37 Have Lock Street, West Perth, WA 6005, Australia T: +61 8 6142 5088|F: +61 8 9200 5638|Web: www.ishineresources.com|Email: admin@ishineresources.com Page 1

Exploration Success at Boomarra and Mt Watson Projects

Boomarra Project

The Company announced on 21[st] March 2010 its molybdenum (Mo) discovery at the Lucienne Prospect, within the Boomarra Project, with grades up to 0.52% Mo and 0.14% Cu intersected in its maiden drilling program. The single hole drilling program intersected a broad zone of strongly silica and potassic altered rocks containing abundant sulphide mineralization with following highlights:

• 74m @ 491ppm Mo from 515m,

Including;

• 3m @ 0.16% Mo from 515m

• 1m @ 0.52% Mo from 526m

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Rose
Lucienne BD001
EPM 19142
Application
(ISH 100%) Ishine
ASX: ISH
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• 11m @ 0.14% Mo from 558m

• 4m @ 0.11% Mo from 569m

• 11m @ 450ppm Cu from 487m

• 82.55m @ 313ppm Cu from 520m to E.O.H.

Including;

• 3m @ 774ppm Cu from 520m

• 21m @ 604ppm Cu from 528m

There are five significant gravity/magnetic anomalies within the existing exploration tenement along the Melinda Downs Fault that have a distinct possibility to be related to sulphide mineralisation at Boomarra. Ishine’s new application, immediately to the south of the EPM 15723, further extends the companies ground holding along this prospective structure by an additional 15km of strike.

Ishine’s plan is to carry out a major diamond drilling campaign beginning in May this year to outline the extent of the alteration and mineralisation at Lucienne and to test drilling into the Rose prospect north of Lucienne.

Mt Watson Project

The Company carried out its maiden drilling program at the Mt Watson project of 11 RC holes for 1,278m in late 2010 and reported the encouraging results in February 2011. The highlight of the broad, highly anomalous copper zone discovered in Hole MWRC007 is as follows:

Ishine International Resources Limited Level M, 35-37 Have Lock Street, West Perth, WA 6005, Australia

T: +61 8 6142 5088|F: +61 8 9200 5638|Web: www.ishineresources.com|Email: admin@ishineresources.com Page 2

90m @ 0.21% Cu from 18m including 2m @ 0.73% Cu from 36m, and

8m @ 0.40% Cu from 46m

Several other lower order anomalous zones were recorded in several of the other drill holes including:

• 2m @ 214ppm Cu from 106m in MWRC003 (end of hole anomaly)

• 46m @ 356ppm Cu from surface in MWRC004

• 16m @ 218ppm Cu from surface in MWRC005

• 6m @ 230ppm Cu from 106m in MWRC008

• 22m @ 538ppm Cu from 8m in MWRC009

• 20m @ 296ppm Cu from 36m in MWRC009

The target anomalies exist in a large fold structure believed to be favourable for hosting mineralisation analogous to that found and mined nearby at Mount Watson. Whilst Mt Watson mine was an oxide ore body, recent exploration efforts have targeted the primary zone of sulphide mineralisation at depth. Ishine is planning to continue drilling to further delineate the anomalous zones from the first program, and also to test a number of the other VTEM targets during the course of 2011.

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RC hole collar positions on a small portion of VTEM Conductors at Mt Watson Project

Ishine International Resources Limited Level M, 35-37 Have Lock Street, West Perth, WA 6005, Australia

T: +61 8 6142 5088|F: +61 8 9200 5638|Web: www.ishineresources.com|Email: admin@ishineresources.com Page 3

The information in this announcement that relates to exploration progress and results has been prepared by Mr Martin Dormer, who is a member of the Australian Institute of Mining and Metallurgy, and a full time employee of Ishine International Resources Ltd. Mr Dormer has sufficient relevant experience in the techniques being reported and styles of mineralisation and types of deposit under consideration, and in the activity he is undertaking, to qualify as a Competent Person as defined in the 2004 Edition of the “Australian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves” (the JORC Code), and consents to the inclusion of the information in the form and context in which it appears .

For further information please contact : Caigen Wang | Managing Director T: +61 8 6142 5088

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Ishine International Resources Limited Level M, 35-37 Have Lock Street, West Perth, WA 6005, Australia T: +61 8 6142 5088|F: +61 8 9200 5638|Web: www.ishineresources.com|Email: admin@ishineresources.com Page 4