Mr. Tony Kinnon reports

INTERNATIONAL FRONTIER RESOURCES CORPORATION AND KINJAL CORPORATION ANNOUNCE EXECUTION OF THE DEFINITIVE SALE AND PURCHASE AGREEMENTS FOR THE ACQUISITION OF MISION FIELD

International Frontier Resources Corp.'s wholly owned subsidiary, Petro Frontera (PF), has executed definitive sale and purchase agreements with both Tecpetrol Operaciones (TPO) and Industrial Perforadora de Campeche (IPC) related to the acquisition of 100 per cent of the share capital of Servicios Multiples de Burgos, S.A. de C.V. (SMB), which holds the Mision field asset.

SMB is the operator and holder of a 49-per-cent working interest and, together with partner Pemex, holds the contract with the Secretariat of Energy (Secretaria de Energia) of the United Mexican States (SENER), for the exploration and extraction of hydrocarbons under the modality of a production-sharing arrangement (Contrato para la Exploracion y Extraccion de Hidrocarburos bajo la modalidad de produccion compartida) CNH-M3-Mision/2018, dated March 2, 2018 (CEE), in the Mision contract area, located in the Mexico.

On completion of the proposed reverse takeover of IFR by Kinjal and approval by the Mexican authorities including SENER, the Mision field will be the resulting issuer's core cash-flowing asset and offers immediate, low-risk development upside:

• Mision is the largest privately operated natural gas field on land in Mexico, currently producing approximately 60 million cubic feet per day gross (10,000 barrels of oil equivalent per day gross) with condensate volumes.

• Mature, long-life, non-associated natural gas asset with decades of production history and established regional infrastructure.

• Clear near-term development upside, with potential to restore production toward approximately 120 MMcf/d gross (20,000 boepd gross) through development drilling, recompletion program and field optimization.

• Strategic value enhanced by the ability to sell gas into the private market directly.

Both sale and purchase agreements (for 24.5 per cent and 24.5 per cent respectively) have been executed on substantially similar terms. However, as Tecpetrol has been in control of the day-to-day management and operations of SMB, PF and Tecpetrol have also executed a detailed transitional services agreement to ensure a seamless handover of SMB's business to PF. This agreement will become effective as of the closing date and continue for a period of three months and may thereafter be extended for a further three months at PF's option.

Warren Levy, Kinjal's chief executive officer, commented: "This is another important step forward in the execution of our natural gas strategy in Mexico. The acquisition of SMB will form the cornerstone of our immediate cash flow and production growth. We have developed a solid, highly supportive relationship with the team from Tecpetrol and our transition team are confident that the services agreement will ensure a smooth handover, while retaining the operating knowledge and excellence that Tecpetrol have built in over 20 years of operating the Mision project."

Closing of the SMB acquisition is still subject to a number of conditions precedent, including Pemex's waiver of their right of first refusal and SENER's approval of change of operatorship.

About Kinjal

Kinjal is a private oil and gas company incorporated under the laws of Ontario and focused on Mexican upstream oil and gas opportunities. Kinjal intends to pursue the proposed Mexican asset transactions described above.

About International Frontier Resources Corp.

International Frontier Resources is a Canadian publicly traded oil and gas company focused on the acquisition and development of energy assets. Through its Mexican subsidiary, Petro Frontera S.A.P.I. de C.V., IFR has been advancing petroleum and natural gas assets in Mexico.

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