Frontier Resources : Taula Fieldwork Completed Showing Enhanced Potential

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ASX Limited

Market Announcements Platform

1 December 2021

Taula Fieldwork Completed Showing Enhanced Exploration Potential

• The Taula Vein has been mapped for over 750 metres sub‐parallel to the mineralised Tolukuma mine structures and these extensions provide enhanced potential for developing near mine gold resources.
• A seven‐week fieldwork program of mapping, rock chip sampling, soil sampling and trenching has been completed at the Taula Prospect.
• A total of 148 trench and rock chip samples are currently being analysed by ALS Laboratories with a further 207 trench, rock and soil samples ready to be dispatched from Port Moresby to ALS laboratories in Brisbane.

Frontier Resources Limited (Frontier or the Company) is pleased to announce the completion of an exploration program at the Taula prospect adjacent to the Tolukuma gold mine in Papua New Guinea. The Taula prospect was discovered in 1987 by Newmont (Figure 1).

Frontier geologists have mapped the Taula Vein (Figure 2) as sub‐parallel to both the Gulbadi and Tolukuma structures within the adjacent mining lease ML104 which form part of the Tolukuma minesite. The interpreted extensions of these structures into Frontier's EL 2531 now have enhanced the exploration potential. The Tolukuma extension is underlain by a chargeability anomaly which remains a separate sub‐ surface target zone. The proximity to the Tolukuma mine makes the Taula prospect area a high priority.

Historical results along the Taula Vein (refer to ASX Announcement dated 5 September 2019) include:

• Rock chip assays of 118 g/t, 66.6 g/t & 42.9 g/t Au
• Trench assays of 1.2m @ 1,041.2 g/t Au and 1.0m @ 80.5 g/t Au
• Drillhole assays of 3.0m @ 16.19 g/t Au from 23m depth and 5.3m @ 7.19 g/t Au from 37.6m depth

A total of 17 hand trenches were dug (Figure 2) during the Taula program (TT001 to TT016) for a total of

630.70 meters with 249 channel samples taken (Table 1 and 2). In addition, 56 rock samples (51 outcrop, 5 float) were collected during the mapping/trenching program. Three ridge and spur soil lines were cut over the historical IP anomaly totaling 1,000 line metres with a total of 50 soil samples collected at a sampling interval of 20 meters (Figure 3).

The mineralisation at Taula is associated with a high level multi‐phase intrusive stock, composed of microdiorite, diorite, quartz diorite and feldspar porphyry, which intrudes a sequence of andesitic volcanics, predominantly tuffs. The Taula Vein has been traced for over 750 meters, hosted almost entirely within the intrusive body (Figure 2).

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Further Work Recommendations

Subject to assay results from the current program, further work at Taula will include:

1. additional trenching and mapping of the Taula Vein to trace further strike extensions and to

define drill targets;

1. additional mapping, sampling and trenching at the IP Anomaly to define drill targets; o initial follow up of the Waleb and Tolukuma/Sisimonda IP targets; and
   o follow up at Kunda North.

Community Relations

Frontier's community relations officer conducted an awareness program during the exploration activities in the surrounding villages of Mondo, Tolukuma, New Gutiva, Udukuma, Saki and to the local casuals employed by Frontier at Seresere camp. The awareness program was mainly on Frontier's current work program at Taula and nearby ML104 to clear the difference between Frontier and work within the mining lease not owned by Frontier.

The awareness drive has helped to bring about a lot of positive response from the surrounding communities. As a result, Frontier has received letters from landowners at Mt Sen, Mt Olom, Samanalan, Kosipe and Garime requesting that Frontier conduct exploration in their areas. This is in addition to positive feedback from landowners at Mondo, Saki, Kimono and Yeme villages.

Further landowner meetings will be required before exploration work can commence at the Kunda North vein (Figure 1). To assist with local community sports equipment was purchased by Frontier and delivered to Seresere camp which was well received by Mondo village.