International Frontier Resources Corporation (TSXV: IFR) ("IFR" or the "Company") announces today that Letter of Intent with Jaguar Exploracion S.A.P.I. de C.V. (""Jaguar) dated April 28, 2023 and the Amended Letter of Intent dated July 28, 2023 as previously announced on May 9, 2023 and July 28, 2023 respectively has expired effective August 31, 2023. Neither of the options per the Letters of Intent have been exercised by Jaguar at the time of expiry.

The Company continues to evaluate and review opportunities for the acquisition of assets or businesses that will enhance shareholder value.

Trading Halt

Following the termination of the Letter of Intent, the Company will seek to lift the trading halt on its common shares on the TSX Venture Exchange (""TSXV). The resumption of trading of the common shares of the Company is subject to the approval of the TSXV.