International Frontier Resources Corporation: Entire Basin in the Central Mackenzie Valley, NWT Up for Bids

International Frontier Resources Corporation (TSX VENTURE:IFR) ("IFR" or the
"Company") today reported that the Minister for the Department of Indian Affairs
and Northern Development has approved posting requests for eleven parcels
located in the Central Mackenzie Valley, Northwest Territories ("CMV"). The
2010-2011 Call for Bids was launched on February 19th, 2011 and closes on June
21, 2011 at which time bids must be submitted.


The eleven parcels cover an area of 897,890 hectares (2,218,735 acres approx.
3467 sections) stretching 720 kilometers (448 miles) south-north and
approximately 300 kilometers (186 miles) east-west. The areas posted are bounded
to the south by the Deh Cho area, where land claims have not been settled, and
by lands north of Norman Wells. Lands situated north of Norman Wells that fall
within the K'ahsho Got'line District, including the Colville Hills area, were
excluded from the 2010-2011 Call for Bids.


The following License categories referenced in this news release shall mean;

Exploration License ("EL") - a license granted by the Crown for a primary term
of 5 years, if a well is drilled in the primary term the license is extended for
a second period of 4 years.


Significant Discovery License ("SDL") - a license granted by the Crown that
covers a hydrocarbon accumulation confirmed by the drilling and testing of a
well and seismic mapping, SDL's do not expire.


Production License ("PL") - a license covering a producing accumulation of
hydrocarbons. A PL does not expire until all reserves are produced.


The parcels posted for this year's Call for Bids, when combined with 3 SDL's and
2 EL's that IFR holds an interest in and 2 EL's operated by MGM Energy Corp.
will, in the Company's opinion, capture the entire prospective hydrocarbon basin
west of the Mackenzie River and south of Norman Wells.


Commenting on this year's land sale the Company said, "In the last decade there
have been 14 wells drilled on the west side of the Mackenzie River, IFR has
participated in 9 of the wells. Of the 9 wells drilled 3 wells encountered
commercial hydrocarbons and 2 wells encountered encouraging hydrocarbon shows.
Based on proprietary well, seismic and aeromag data the Company has identified a
significant number of undrilled prospects, some of which sit within the oil
window and others are within the gas window. The areas nominated at this year's
CMV Call for Bids cover the majority of these prospects."


This winter one well is being drilled in the CMV, the MGM Energy operated Windy
Island J-39 which is reported to be drilling at a depth of 907 meters (2975
feet) en-route to a projected total depth of 1500 meters (4920 feet) - NEB
public files dated Feb. 15, 2011. The well is testing a shallow Devonian oil
prospect located near the town of Tulita. Devon Energy is participating for a
50% interest in the well.


To date three active hydrocarbon systems have been discovered in the CMV. They
are; the Norman Wells oilfield ("PL"), the Colville Hills area ("SDL's") and the
Summit Creek and Stewart Lake ("SDL's") in which IFR holds an interest.


Independent resource evaluators have assigned the following gross contingent
resource estimates as defined by N.I. 51-101.


Norman Wells Oilfield - The PL covering the Norman Wells field has produced in
excess of 250 million barrels of oil. The field is currently producing at rates
ranging from 20,000 to 25,000 barrels of oil per day. Production from Norman
Wells is transported to northern Alberta via the Enbridge oil pipeline that has
available capacity to transport additional oil volumes.


Colville Hills - In a report filed with the National Energy Board GLJ Petroleum
Consultants assigned a high case contingent resource estimate of 2 TCF (trillion
cubic feet of gas) for the Colville Hills area.


Summit Creek SDL - In a company commissioned report McDaniel & Associates
Consultants Ltd assign best estimate contingent recoverable resources of 38 BCF
and 6 million barrels of oil and high estimate contingent recoverable resources
of 267 BCF and 27 million barrels of oil for the Summit Creek SDL.


Stewart Lake SDL - In a company commissioned report McDaniel & Associates
Consultants Ltd. assign best estimate contingent recoverable resources of 20 BCF
and high estimate contingent recoverable resources of 63 BCF for the Stewart
Lake SDL (BCF - billion cubic feet).


If companies awarded EL's in the 2010-2011 Call for Bids decide to extend the
term of their EL's for a second period of 4 years then there could be up to an
additional 11 wells drilled in the CMV.


North of the CMV, in the Beaufort Sea - Mackenzie Delta region, three parcels
have been approved by the Minister for the 2010-2011 Call for Bids. The parcels
cover an area of 386,267 hectares (954,486 acres); bids for these parcels are
due on June 21, 2010.


In the period 2006 to 2009 the Minister approved the award of 15 EL's in the
Beaufort Sea - Mackenzie Delta region. The EL's carry aggregate bids of $2.88
billion. Highlights of past Call for Bids include the award in 2007 of EL-446 to
Imperial Oil Resources Ventures (50%) and Exxon/Mobil Canada Properties (50%)
for a bid of $585 million. In 2008 EL-449 was awarded to BP Exploration Company
Limited for a bid of $1.18 billion and in 2009 BSMD-5 was awarded to Chevron
Canada Limited for a bid of $103 million.


The Northwest Territories is one of the last under-explored basins in North
America that has the potential to yield world class resources. This remote
northern frontier region sits in Canada, a politically stable country, with a
focus on Northern Sovereignty. The fiscal regime in the NWT favors companies and
not host Governments, which is the case with many other international oil & gas
basins with similar resource potential to the Northwest Territories.


For additional information on the Company please visit
www.internationalfrontier.com.