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File: 2018-08-17 IFR Reports 2018 Second Quarter Financial Results -FINAL.docx

 IFR Reports 2018 Second Quarter Financial Results

Calgary, Alberta - August 17, 2018 - International Frontier Resources Corporation ("IFR" or the "Company") (TSX{{‐ &#8
--->208;} ‐}V: IFR) (OTCQB: IFRTF) reported today its financial and operating results for the three and six months e
--->nded June 30, 2018. Selected financial and operational information is set out below and should be read in conjunction 
--->with IFR's June 30, 2018 interim financial statements and the related management's discussion and analysis ("MD&A").  
--->The financial statements and MD&A are available for review at www.sedar.com and on the Corporation's website at www.in
--->ternationalfrontier.com. All dollar figures are in Canadian dollars.

Financial Highlights {{‐ ‐} ‐} Second Quarter 2018

At June 30, 2018 cash and cash equivalents were $2,851,530 and working capital was $3,465,605 
During the period ended June 30, 2018 received aggregate proceeds of $1,056,600 from the exercise of warrants by membe
--->rs of the executive and technical team, board of directors and investment community. 
The Company reported a consolidated net loss of $1,896,700 ($0.01 loss per share) for the six months ended June 30, 20
--->18, compared to a net loss of $705,070 ($0.01 loss per share) for the six months ended June 30, 2017. Net income for t
--->he three months ended June 30, 2018 was $1,087,435 ($0.01 loss per share) compared to a net income of $73,815 ($0.001 
--->income per share) for the quarter ended June 30, 2017.
Net income in the six months ended June 30, 2017 included a gain on sale of properties of $677,055 related to the sale
---> of the Company's Alderson property in April 2017
In the six months ended June 30, 2018, the Company had negative cash flow from continuing operations of $1,581,365.
General and administrative costs in the first six months of 2018 were higher primarily due to general and administrati
--->ve expenses related to increased activities and development focused on Mexico 
The loss from operations in the period included $871,775 in general and administrative costs (six months ended June 30
--->, 2017 - $797,770).


About International Frontier Resources
International Frontier Resources Corporation (IFR) is a Canadian publicly traded company with a demonstrated track rec
--->ord of advancing oil and gas projects. Through its Mexican subsidiary, Petro Frontera S.A.P.I de CV and strategic join
--->t ventures, it is advancing the development of petroleum and natural gas assets in Mexico.  The Company also has proje
--->cts in Canada and the United States, including the Northwest Territories, and Montana.
The Company's shares are listed on the TSX Venture, trading under the symbol IFR and on the OTCQB under the symbol IFR
--->TF. For additional information please visit www.internationalfrontier.com.

For further information

Steve Hanson - President and CEO     or   Tony Kinnon - Chairman 
(403) 618-7346      (403) 607-6591
shanson@internationalfrontier.com  tkinnon@internationalfrontier.com 

Forward Looking Statements 
This press release contains forward{{‐ ‐} ‐}looking statements and forward{{‐ ‐} ‐}looking inf
--->ormation (collectively "forward{{‐ ‐} ‐}looking information") within the meaning of applicable securities 
--->laws relating to the Company's plans, strategy, business model, focus, objectives and other aspects of IFR's anticipat
--->ed future operations and financial, operating and drilling and development plans and results, including, expected futu
--->re production, production mix, reserves, drilling inventory, net debt, cash flow, operating netbacks, decline rate and
---> decline profile, product mix, capital expenditure program, capital efficiencies, commodity prices, tax pools and targ
--->eted growth. In addition, and without limiting the generality of the foregoing, this press release contains forward{{‐
---> ‐} ‐}looking information regarding: anticipated cost savings and operational efficiencies; anticipated ca
--->pital cost estimations; the focus and allocation of IFR's 2017 capital budget; anticipated production rates, available
---> free cash flow, management's view of the characteristics and quality of the opportunities available to the Company; a
--->nd other matters ancillary or incidental to the foregoing. 
Forward{{‐ ‐} ‐}looking information typically uses words such as "anticipate", "believe", "project", "targ
--->et", "guidance", "expect", "goal", "plan", "intend" or similar words suggesting future outcomes, statements that actio
--->ns, events or conditions "may", "would", "could" or "will" be taken or occur in the future. The forward{{‐ ‐} &#
--->8208;}looking information is based on certain key expectations and assumptions made by IFR's management, including exp
--->ectations concerning prevailing commodity prices, exchange rates, interest rates, applicable royalty rates and tax law
--->s; capital efficiencies; decline rates; future production rates and estimates of operating costs; performance of exist
--->ing and future wells; reserve and resource volumes; anticipated timing and results of capital expenditures; the succes
--->s obtained in drilling new wells; the sufficiency of budgeted capital expenditures in carrying out planned activities;
---> the timing, location and extent of future drilling operations; the state of the economy and the exploration and produ
--->ction business; results of operations; performance; business prospects and opportunities; the availability and cost of
---> financing, labour and services; the impact of increasing competition; ability to market oil and natural gas successfu
--->lly and IFR's ability to access capital. 
Statements relating to "reserves" are also deemed to be forward looking statements, as they involve the implied assess
--->ment, based on certain estimates and assumptions, that the reserves described exist in the quantities predicted or est
--->imated and that the reserves can be profitably produced in the future. 
Although the Company believes that the expectations and assumptions on which such forward{{‐ ‐} ‐}looking 
--->information is based are reasonable, undue reliance should not be placed on the forward{{‐ ‐} ‐}looking in
--->formation because IFR can give no assurance that they will prove to be correct. Since forward{{‐ ‐} ‐}look
--->ing information addresses future events and conditions, by its very nature they involve inherent risks and uncertainti
--->es. The Company's actual results, performance or achievement could differ materially from those expressed in, or impli
--->ed by, the forward{{‐ ‐} ‐}looking information and, accordingly, no assurance can be given that any of the
---> events anticipated by the forward{{‐ ‐} ‐}looking information will transpire or occur, or if any of them 
--->do so, what benefits that the Company will derive there from. Management has included the above summary of assumptions
---> and risks related to forward{{‐ ‐} ‐}looking information provided in this press release in order to provi
--->de security holders with a more complete perspective on IFR's future operations and such information may not be approp
--->riate for other purposes. 
Readers are cautioned that the foregoing lists of factors are not exhaustive. Additional information on these and othe
--->r factors that could affect IFR's operations or financial results are included in reports on file with applicable secu
--->rities regulatory authorities and may be accessed through the SEDAR website (www.sedar.com). 
These forward{{‐ ‐} ‐}looking statements are made as of the date of this press release and IFR disclaims a
--->ny intent or obligation to update publicly any forward{{‐ ‐} ‐}looking information, whether as a result of
---> new information, future events or results or otherwise, other than as required by applicable securities laws. 
"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". The Company seeks Safe Harbor.