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Frontline Gold Corporation Announces Private Placement

04.05.2011  |  Marketwire
HALIFAX, NOVA SCOTIA -- (Marketwire - May 4, 2011) - Frontline Gold Corporation ("Frontline" or the "Company") (TSX VENTURE: FGC) is pleased to announce a non-brokered private placement consisting of up to 26,666,6667 units (the "Units") at a purchase price of $0.15 per Unit for gross proceeds of up to $4 million (the "Offering"). Each Unit consists of one common share of the Company and one common share purchase warrant (a "Warrant"). Each Warrant entitles the holder to purchase one common share of the Company at an exercise price of $0.20 for a period of 18 months following the date of closing.

The Offering is expected to close on or about May 17, 2011. The proceeds of the Offering will be used to advance the exploration of the Company's mineral properties, for working capital purposes and for general corporate purposes. The Offering is subject to approval by the TSX Venture Exchange.


Frontline Gold Corp. (TSX VENTURE:FGC) is a Canadian junior mineral exploration company with an experienced discovery team and a proven record of accomplishment. The Company's flagship Niaouleni gold project lies in the heart of Mali South in West Africa's prolific gold belt. Frontline is currently developing its gold projects in the Izmir province of Western Turkey, which consist of the Menderes, Odemis, Ordu and Kure properties. Ongoing Canadian exploration includes the Red Lake (gold) and Stewart (gold-copper-polymetallic) projects.

For further information, please visit the Company's website at www.frontlinegold.com to view the most recent corporate presentation.


This news release contains forward-looking statements, which address future events and conditions, which are subject to various risks and uncertainties. The Company's actual results, programs and financial position could differ materially from those anticipated in such forward-looking statements as a result of numerous factors, some of which may be beyond the Company's control. These factors include: the availability of funds; the timing and content of work programs; results of exploration activities and development of mineral properties, the interpretation of drilling results and other geological data, the uncertainties of resource and reserve estimations, receipt and security of mineral property titles; project cost overruns or unanticipated costs and expenses, fluctuations in metal prices; currency fluctuations; and general market and industry conditions.

Forward-looking statements are based on the expectations and opinions of the Company's management on the date the statements are made. The assumptions used in the preparation of such statements, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements.



Walter Henry, President & CEO

FRONTLINE GOLD CORP.



Neither TSX Venture Exchange nor its Regulation Services Provider (as defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.



Contact Information

Frontline Gold Corp.
Walter Henry
President & CEO
(416) 414-5825
(902) 832-2223 (FAX)
info@frontlinegold.com
www.frontlinegold.com
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