CALGARY, ALBERTA--(Marketwire - Aug. 29, 2012) - International Frontier Resources Corporation (IFR.V) ("the Company") today released results for the period ending June 30, 2012. In Q2 the Company recorded a net loss of $62,165 ($0.001 per share) versus a net loss of $213,150 ($0.004 per share) in Q2, 2011. For the six month period ending June 12, 2012 the Company recorded a loss of $115,840 ($0.002) per share versus $346,105 ($0.006 per share) in the six-month period of 2011. In Q2, 2012 revenue net of royalties was $184,450 compared with $182,115 in Q2, 2011. Revenue net of royalties for the six month period was $406,710 versus $304,780 for the same period in 2011. At June 30, 2012 cash and cash equivalents were $3,681,510 and working capital was $2,926,350.
The Company owns mineral titles on fee acreage located in Glacier County, northwest Montana where major and intermediate companies are assessing the potential of tight-oil-plays on both sides of the Montana - Alberta border. The Company also holds an interest in three Significant Discovery Licenses and three freehold parcels located in the central Mackenzie Valley, Northwest Territories. In the 2011 & 2012 annual land sales industry has committed $628 million in work commitments on 13 exploration licenses in the central Mackenzie region.
The Company's financial statements and related management discussion and analysis have been filed on Sedar and copies will be posted on the Company's website at www.internationalfrontier.com.
The Company seeks Safe Harbor.
"Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility or accuracy of this release".