Update on Frontier Pacific's Perama Hill Gold Project, North-eastern Greece

23 October 2005 | 02:46 Code : 6103 Geoscience events
Frontier Pacific Mining Corporation, (TSX-V: FRP - News; "Frontier Pacific" or the "Company"), a junior
Frontier Pacific Mining Corporation, (TSX-V: FRP - News; "Frontier Pacific" or the "Company"), a junior mineral exploration company with common shares listed on the TSX Venture Exchange, is pleased to announce the progress made by its Greek subsidiary, Thrace Gold Mining S.A. ("Thracean"). Thracean has reorganized its management and the board of directors with appointments of prominent professionals in Greece.

The Environmental Impact Statement ("EIS"), including Risk Assessment, Tailings Management Breakout Study, Neotectonic-Seismotectonic Study, Social Cost Benefit Analysis, and Sustainable Water Resources Management Study, has been reviewed by the Greek ministries responsible for mine development.

The management of Thracean is at present providing vital information on the economic benefits and environmental safeguards of the Perama project to the residents of the region. Thracean and Frontier Pacific are working with individuals and social institutions to increase the level of understanding of the project within the Region and Greece as well as seeking active participation of the local communities in the area.

In conjunction with the reorganization in Greece, the board of directors of the Company has authorized the grant of an aggregate of 3,950,000 incentive stock options to directors, employees and consultants of the Thracean and to directors, consultants and employees of the Company exercisable at a price of $0.25 per share for a period of 5 years.

	    About Frontier Pacific

Frontier Pacific is a mineral exploration and development company based in Vancouver, British Columbia. The Company's holdings include the advanced Perama Hill gold project in Greece, options on the Dixie Creek gold project in Nevada and uranium exploration concessions in southern Peru.

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