International Frontier Resources Corporation: Third Quarter Results and Corporate Update

International Frontier Resources Corporation ("IFR" or the "Company") (TSX
VENTURE:IFR) today announced financial results for the three and nine month
periods ending September 30, 2011 and provides an update on the company's
project areas. 


For the quarter ended September 30, 2011 the Company incurred a net loss of
$29,550 ($0.00 per share) versus a net loss of $76,380 for the same period in
2010. In the period revenue, net of royalties, was $242,630 versus $111,445 in
Q3, 2010. For the nine month period the Company incurred a loss of $375,655
($0.006 per share) as compared with a net loss of $1,112,475 ($0.019 per share)
in 2010. Cash and cash equivalents at September 30, 2011 were $4,106,725 versus
$7,037,960 in 2010. At September 30, 2011 the company had 59,578,965 common
shares outstanding. The unaudited financial statements and management discussion
and analysis have been filed on Sedar. 


Southern Alberta Basin - NW Montana

In the third quarter the Company entered into agreements to purchase title to
5,600 freehold acres ("fee acreage" or "fee land") located in northwest Montana.
The acquisition increases the Company's fee land position in the Southern
Alberta Basin tight oil resource play to 22,680 acres. The majority (95%) of
Company's fee acreage is located on the Blackfeet Reserve ("reserve") in Glacier
County. The fee acreage is under lease to companies that are drilling
exploration and appraisal wells on the reserve. The leases reserve in favor of
IFR gross overriding royalties ranging from 12.50% to 18.50%, the leases have an
average term remaining of 5 years. 


In late-2009 a tight oil resource play was discovered on the Blackfeet Reserve.
The reserve is located on the eastern fore-front of the Rocky Mountains, it
covers an area of 1.5 million acres of which approximately two-thirds is
postulated to be in an over-pressured tight oil fairway. In 2009/10 the
Blackfeet entered into leasing agreements with Anschutz Exploration Company
(private) covering lands on the west side of the reserve, to date Anschutz have
permitted ten wells, eight of which have been drilled. Newfield Exploration
Company (NYSE: NFX) leased the central region of the reserve, to date Newfield
have permitted 15 wells and have drilled seven vertical wells, all of which have
encountered oil. Newfield have also drilled two horizontal wells, one of the
horizontal wells was partially fracture-stimulated with only one-third of the
frack being placed in zone; the well had an initial production rate of 225 Bbls
oil per day. The east side of the reserve has been leased by Rosetta Resources
(NASDAQ: ROSE) to date Rosetta have permitted 13 wells of which nine vertical
wells have tested the Bakken and two wells have tested other tight oil zones. In
a Q3 update Rosetta announced that they have increased their horizontal drilling
program to seven wells from three wells. The wells are targeting 4,000 foot
horizontal laterals with 16 frac stages in the Bakken; the drilling program is
scheduled to be finished in Q1, 2012. Rosetta recently updated its Bakken type
curve; the company expects gross recoverable reserves of 185,000 barrels oil
equivalent, 250 barrels oil equivalent per day on 160 acre spacing which implies
a 5% recovery of the estimated 13 - 15 mmboe per 640 acres. 


In Teton County, which is located south of the Blackfeet Reserve, two drilling
permits have been issued to Primary Petroleum for vertical wells in T27N - R6W,
the 16-19-27N-6W well offsets IFR's fee land. 


In 2010 the play was extended into south-west Alberta, as companies put together
land positions prices went from $50 per acre to as high of $3,000 per acre, with
the average being $850 per acre. Since mid-2010 operators have licensed 32
exploration wells just north of the Montana border, in townships 1 to 3 ranges
18 to 25 W4M drilling licenses have been issued to; Antelope Land (1), Crescent
Point Energy (3), Connaught Oil & Gas (5), Canadian Coastal (1), Dee Three
Exploration (2), Gryphon Petroleum (1), Legacy/Bowood (1), Murphy Oil Company
(8) Petrospirit Resources (3) and Shell Canada (7). 


There are multiple tight oil zones on both sides of the border that are being
evaluated with horizontal drilling and multi-stage-fracking technology. Since
the initial discovery well was drilled operators have licensed over 90 wells in
north-west Montana and south-west Alberta, the play fairway now spans 135 miles
north-south and 50 miles east-west. 


The Company's fee land is well situated on the play fairway, to date there have
been 16 wells permitted/drilled on the Blackfeet Reserve that fall within one
mile of the company's fee land and an additional 11 wells are located within
three miles. On the Alberta side of the play operators have licensed/drilled 18
wells located in township 1 range 18 - 25 W4M. The Company holds approximately
5,600 fee acres in township 37N ranges 5W to 14W adjacent to the Alberta border.



Central Mackenzie Valley, NWT

In third quarter the Minister for the Department of Indian Affairs and Northern
Development awarded eleven exploration licenses covering approximately 2,218,735
acres in the Central Mackenzie Valley, NWT ("CMV"). The land sale generated work
commitment bids of $534 million, which is the largest dollar amount for work
commitments bid at any land sale to date. Six licenses were awarded to
proponents/applicants of the Mackenzie Valley gas pipeline. Subsequent to
license award ConocoPhillips Canada and MGM Energy have indicated that they plan
to drill exploration wells targeting unconventional liquids rich gas resource
plays. Husky Oil plan to drill two wells this winter, the wells will test
unconventional oil resource plays. 


IFR holds an interest three Significant Discovery Licenses ("SDL"), two freehold
parcels and one exploration license encompassing 275,080 gross acres, 65,400 net
acres. Husky Oil Operations is operator of the company's CMV acreage. 


IFR is engaged in the exploration for and development of oil and gas reserves in
the Southern Alberta Basin, NW Montana USA, Central Mackenzie Valley, Northwest
Territories, Canada and in SE Alberta. For additional information on the company
visit www.internationalfrontier.com or contact;


Pat Boswell

This news release includes forward-looking statements for which the Company
seeks Safe Harbor.