Mr. Tony Kinnon reports

IFR ANNOUNCES PROPOSED SHARE CONSOLIDATION

International Frontier Resources Corp.'s directors have approved a consolidation of its common shares on the basis of one new common share for every existing 20 common shares, subject to regulatory approval, including approval of the TSX Venture Exchange. Management believes that the consolidation is necessary to provide the company with a share structure that will better attract capital financing and that will provide for future growth.

Effective on or about Nov. 27, 2023, International Frontier will complete the consolidation. Where the exchange results in a fractional share, the number of common shares will be rounded up to the next greater whole number of common shares if the fractional entitlement is equal to or greater than 0.5 and shall, without any additional compensation, be rounded down to the next lesser whole number of common shares if the fractional entitlement is less than 0.5 and, in calculating such fractional interests, all common shares registered in the name of and held by such shareholder shall be aggregated. A new CUSIP number of 459976403 replaces the old CUSIP number of 459976 to distinguish between the preconsolidation and postconsolidation shares. The company's name and trading symbol will remain unchanged.

The consolidation is being conducted on a push-out basis. Shareholders of the company, with or without a physical share certificate, do not need to take any action with respect to the consolidation. DRS statements for the postconsolidation common shares will be mailed on or about Nov. 30, 2023. Existing share certificates will be cancelled.

Commencing at the opening of trading on or about Nov. 27, 2023, the common shares of the company will trade on a postconsolidation basis on the TSX Venture Exchange. Following the consolidation, there are expected to be 14,955,397 postconsolidation shares outstanding.

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. International Frontier also has projects in Canada and the United States, including the Northwest Territories and Montana.

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