Argentina Mining Play

[Ed Monton]

Fronteer buys 17.42% interest in Latin American


2006-11-22 19:34 ET - News Release

See News Release (C-FRG) Fronteer Development Group Inc


Dr. Mark O'Dea of Fronteer reports

FRONTEER DEVELOPMENT GROUP INC. PURCHASES COMMON SHARES AND WARRANTS OF LATIN AMERICAN MINERALS INC.

Fronteer Development Group Inc. has acquired 17.42 per cent of the issued and outstanding common shares of Latin American Minerals Inc.

This strategic investment gives Fronteer immediate exposure to a pipeline of advanced-stage projects in the mining-friendly jurisdiction of Argentina at a relatively low cost of entry.

Pursuant to a private placement which closed on Nov. 20, 2006, Fronteer has purchased 4,932,000 units of securities of Latin American. Each unit was purchased for 25 cents and comprises one common share in the capital of Latin American and one-half of one common share purchase warrant. Each whole warrant entitles the holder thereof to acquire one common share at an exercise price of 35 cents for a period of 12 months from the closing of the private placement.