Frontier Mining Ltd – HSBC Project Funding

Frontier Mining Ltd, the AIM listed gold and copper exploration and development company focused on Kazakhstan, announces that it has today received $4 million, the second tranche of a loan facility from HSBC Bank Kazakhstan for its Benkala project. The first tranche was also $4 million and was received in late November 2010.
 
HSBC and Frontier have an indicative agreement of a total value of $15 million loan facility provided that the Company achieves certain conditions and requirements of HSBC, and subject to HSBC’s usual lending requirements. The loan is solely tied to being used to purchase capital equipment for the Benkala project by KazCopper