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Message: Fronteer Gold Completes Sale of Uranium Assets to Paladin Energy

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Fronteer Gold Completes Sale of Uranium Assets to Paladin Energy

posted on Feb 01, 11 12:50PM (Log in to use the IP Check tool) ^[?]

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VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 1, 2011) - Fronteer Gold Inc. (TSX:FRG)(NYSE Amex:FRG) announces today that it has completed the sale of 100% of the uranium assets of Aurora Energy Resources Inc., a wholly owned subsidiary of Fronteer Gold, to Paladin Energy Ltd. (TSX:PDN)(ASX:PDN) pursuant to an Asset Sale Agreement which was entered into on December 17, 2010.

Under the terms of the completed Agreement, Fronteer Gold will receive 52.1 million common shares of Paladin. Fronteer Gold is now the largest Paladin shareholder at approximately 6.7%.

ABOUT FRONTEER GOLD

We intend to become a significant gold producer. Our future potential production platform includes our Long Canyon, Sandman and Northumberland projects - all located in Nevada. We also have a 40% interest in Halilaga, an emerging copper-gold porphyry deposit in northwestern Turkey. For further information on Fronteer Gold, visit >www.fronteergold.com

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