FRONTERA COPPER CORPORATION

Frontera Copper Corp is seeking to extend the payment of interest on its Notes such that these payments would be made over the period of June through August 2009. Such a change is being submitted to the Note holders for approval through an Extraordinary Resolution dated June 10, 2009. Frontera has been advised by its’ mining contractor PEAL S.A. d CV that they were going to sell their mining equipment previously being used at the Piedras Verdes Mine under its contract with Frontera. Frontera Management entered into discussions with its shareholder and with PEAL to determine if an alternative solution could be found to secure the mining equipment and find sufficient funding to allow the restart of mining. The company is close to reaching an agreement with PEAL that will secure this equipment and substantially improve its chances of restarting mining. This agreement will require the assistance of a third party. This will essentially consume most of the funds available within Frontera to secure this equipment and obtain a commitment to restart mining under the terms of the existing PEAL Contract. The Frontera Board believes that it is only through the restart of operations that the viability of the company can be maintained.