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Gold/Mining/Energy : Mining News of Note -- Ignore unavailable to you. Want to Upgrade?

To: LoneClone who wrote (17461)	4/9/2008 4:42:36 PM
From: LoneClone	Read Replies (1) \| Respond to of 194042

Frontier Pacific Exploration & Development Update Wed Apr 9, 3:15 PM ca.news.finance.yahoo.com VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 9, 2008) - Frontier Pacific Mining Corporation (the "Company") (TSX VENTURE: FRP.V) is pleased to provide the following update on the Perama Hill Gold Mine development in Northern Greece, the Taraira Gold Project in Colombia and the Macusani Uranium Project in Peru. Perama Hill Gold Project, Greece The approval of the Perama Hill Environmental Terms of Reference (ETR), which summarizes the results of the Environmental Impact Study (EIS) for the proposed development of the Perama Hill Gold Mine (the "Project"), still awaits final approval from the Ministry of Environment, Government of Greece. As reported in the Greek House of Parliament, in answer to questions from the floor, all inter-ministerial questions concerning the Perama Hill Gold Mine have been answered. As a result of these announcements in the House, Thracean Gold Mining S.A. (TGM), the operating company for the Project in Greece, understands that approval of the ETR approving the EIS is now high priority within the government. TGM was hopeful that the Ministry of Environment's approval of the ETR would have been obtained in the first quarter of this year. However, given the very active program of legislation happening within the government, it now appears that Ministerial approval of the ETR has been delayed to this quarter. In anticipation of receiving approval of the ETR, TGM has contracted Aker Solutions E&C UK, Scott Wilson Mining UK and Golder Associates UK to carry out detailed engineering for the construction of the Perama Hill Gold Mine and to prepare an up to date Bankable Feasibility Document. The Company has also initiated detailed discussions with several major international banks for debt financing the Project's capital costs for the development of the mine. Several indicative term sheets for debt financing the capital costs of the Project have been received by the Company. There continues to be overwhelming and growing public support for the development of the Project in the affected Municipalities of Northern Greece. This is due to TGM's 2007/2008 open door information policy with the residents of the Municipalities on every aspect concerning the economic and social benefits of the Project, and environmental protection afforded with development and operation of the proposed mine. Taraira Gold Project, Colombia Cosigo Frontier Mining Corp. (CFMC), a company owned 51% by Frontier Pacific Mining Corporation and 49% by Cosigo Resources, is carrying out exploration on the Taraira Gold Project (Taraira), in south-eastern Colombia. The reverse circulation (RC) drill rig, sent by CFMC from Canada, has arrived in Colombia and is currently being held in the Free Trade Zone in Bogota awaiting customs clearance. Once cleared, the drill rig will be mobilized to Taraira to begin drill testing the gold-rich geochemical anomaly (identified by near-surface geochemistry) at the Cerro Rojo prospect. The Cerro Rojo prospect is one of many gold exploration targets spread along the "Serrania Machado", a 10km long north west trending range that makes up Taraira. The majority of these targets, including the Cerro Rojo prospect, have coincident historical artisanal workings. CFMC has commenced geological mapping and surface geochemistry over the Serrania Machado ridge, collecting over 3,000 samples from approximately 30 line traverses spaced approximately 100 metres apart. Gold mineralization is hosted within ptygmatic and tension-gash quartz veins within hematitic quartzite units contained within the meta-sedimentary formations that make up the Serrania Machado range. Macusani Uranium Project, Peru The Company (project operator and 50% joint venture partner with Solex Resources) is pleased to report drilling has recommenced on the Macusani Uranium Project (Macusani) in Peru. While waiting for permits to drill on 9 new targets in the project area, drilling has been focused on expanding and further delineating the inferred resources currently being estimated as part of the NI43-101 technical report based on 2007 drilling. The NI43-101 technical report, commissioned in November 2007, is nearing completion and currently awaits the final results from the metallurgical column leach test work. Preliminary metallurgical results have returned extraction rates of 85% to 90% U308 on bulk sample drill core crushed to minus 1/2 inch from three distinct mineralized zones: Sayana Central, Calvario I and Calvario III. The Column Testing Project is being undertaken by Lakefield Research and supervised by Melis Engineering. Results from the metallurgical test work are required in order to estimate the economic viability of a heap-leach operation from multiple near-surface, bulk-tonnage, low-grade uranium deposits within Macusani. On Behalf of the Board of Directors, FRONTIER PACIFIC MINING CORPORATION Peter F. Tegart, P. Geo., President & CEO This news release may contain forward-looking statements that are based on Frontier Pacific expectations, estimates and projections regarding its business and the economic environment in which it operates. These statements are not guarantees of future performance and involve risks and uncertainties that are difficult to control or predict. Therefore, actual outcomes and results may differ materially from those expressed in these forward-looking statements and readers should not place undue reliance on such statements. Statements speak only as of the date on which they are made, and the Company undertakes no obligation to update them publicly to reflect new information or the occurrence of future events or circumstances, unless otherwise required to do so by law. The TSX Venture Exchange (the "Exchange") has not reviewed and does not accept responsibility for the accuracy or adequacy of this news release. The Exchange has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this news release. Contacts Peter F. Tegart, P. Geo Frontier Pacific Mining Corporation President & CEO (604) 717-6488 Suite 875 - 555 Burrard Street Box 205 - Bentall Two Centre Frontier Pacific Mining Corporation Vancouver, B.C. Canada, V7X 1M8 (604) 717-6488 (604) 717-6427 (FAX) Email: info@frontierpacific.com Website: www.frontierpacific.com