Mr. Kelly Kimbley reports

PETROFRONTIER CORP. ANNOUNCES ISSUANCE OF MANAGEMENT CEASE TRADE ORDER

Further to the news release dated April 14, 2025, the Alberta Securities Commission, as principal regulator of Petrofrontier Corp., has issued a management cease trade order to Petrofrontier pursuant to its application under National Policy 12-203 (Management Cease Trade Orders) in respect of the default regarding the delay of the filing of its annual financial statements, accompanying management's discussion and analysis, and related chief executive officer and chief financial officer certifications for the financial year ended Dec. 31, 2024. The company also wishes to correct the filing deadline of May 1, 2025, provided in its news release of April 14, 2025, and confirms that the filing deadline is April 30, 2025.

The delay in filing the annual filings is related to an unanticipated delay in receipt of the financial information and other required information from the general partner of the company's limited partnership investment, which has impacted the ability of the company's external auditor to complete the audit. Complexities in the GP's business has resulted in the delay in providing the information.

Petrofrontier is working closely with its auditor MNP LLP and is making every effort to submit the annual filings in a timely fashion and expects to file no later than May 30, 2025.

The MCTO prohibits the CEO and the CFO from trading in securities of Petrofrontier for so long as the annual filings are not filed. The issuance of the MCTO does not affect the ability of persons other than the CEO and the CFO of the company to trade in the company's securities.

The company confirms that it intends to satisfy the provisions of the alternative information guidelines found at sections 9 and 10 of NP 12-203 respecting cease trade orders for continuous disclosure defaults for so long as it remains in default as a result of the late filing of the annual filings. During the period of default, the company will issue biweekly default status reports in the form of further news releases, which will also be filed on SEDAR+. The company confirms that there are no insolvency proceedings against it as of the date of this news release. The company also confirms that there is no other material information concerning the affairs of the company that has not been generally disclosed as of the date of this news release.

About Petrofrontier Corp.

Petrofrontier is a junior energy company currently focused on developing two Mannville heavy oil plays in the Cold Lake and Wabasca areas of Alberta.

We seek Safe Harbor.