Mr. Steve Hanson reports

IFR JOINT VENTURE PROVIDES OPERATIONS UPDATE AT TECOLUTLA -- EARNS INTO LICENSE CONTRACT

International Frontier Resources Corp. has provided an operations update on its joint venture, Tonalli Energia, and its Tecolutla onshore oil and gas block in Mexico.

Tecolutla block earn-in

Tonalli has been informed by Mexico's Comision Nacional de Hidrocarburos (CNH) that it has completed its minimum work commitment required to earn in on the Tecolutla block in its 35-year licence agreement. To date, $1,534,000 (U.S.) of Tonalli's total account performance security guarantee (APSG), which was posted with CNH to ensure completion of the minimum work commitment, has already been returned. Tonalli is now in the process of applying for the return of its remaining $1,764,000 (U.S.) APSG.

"Completing our minimum work commitment is an important milestone for Tonalli and IFR, and demonstrates our team's abilities to execute and perform to the Mexican government, our partners and industry," commented Steven Hanson, president and chief executive officer. "The completed work units required were performed through core studies, seismic reprocessing, well workovers and drilling activities."

TEC-11 horizontal well

Tonalli is finalizing preparations to commence the perforation and stimulation of the TEC-11 horizontal well. Tonalli experienced delays in this operation due to problems with availability of certain services and tools, which have now been rectified. Tonalli expects to finalize this operation in late June and will then commence production testing.

TEC-2 workover

In May, 2019, Tonalli re-entered the TEC-2 well and performed further downhole operations. As a result, a new production test is currently continuing. The first 12 days of this test have yielded a result of 62 barrels of oil per day of oil on average at a 43-per-cent-oil cut.

TEC-7 workover

Tonalli is also preparing to move a service rig onto the recently upgraded TEC-7 well pad to conduct a workover, which will be followed by a production test. The TEC-7 well has not produced since 2006, and a workover has not been performed since 1971.

TEC-10

Tonalli is continuing to produce TEC-10 through rental equipment as a single-well battery. Production from TEC-10 averaged 89 barrels of oil per day during Q1 2019.

International Frontier Resources will advise on the results of production of TEC-11, TEC-7 and TEC-2 after the tests are finalized. Tonalli is expecting to construct pipelines to connect the Tecolutla wells to centralized production equipment. This work is expected to occur during the summer and fall of 2019. The use of centralized production facilities, as opposed to single-well batteries, is intended to result in lower operating costs for the field.

The Tecolutla field is located within the Tampico-Misantla basin, which has multiple reservoirs with diverse play types and access to existing infrastructure, market, service sector providers and an established supply chain. In 2017, IHS Markit identified the Tampico-Misantla basin as a potential "superbasin."

Through its joint venture with Grupo Idesa, International Frontier Resources was one of the first foreign companies to participate in Mexico's historic reform of the oil and gas sector. The Tecolutla block was awarded to Tonalli as part of the first round and third call of Mexico's oil and natural gas "mature fields" bid round.

About International Frontier Resources Corp.

International Frontier Resources is a Canadian publicly traded company with a demonstrated record of advancing oil and gas projects. Through its Mexican subsidiary, Petro Frontera SAPI de CV, and strategic joint ventures, it is advancing the development of petroleum and natural gas assets in Mexico. The company also has projects in Canada and the United States, including in the Northwest Territories and Montana.

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