Frontera Provides Update on Development of Piedras Verdes.

TORONTO -- Frontera Copper has been actively progressing the development of its Piedras Verdes mine-for-leach SXEW copper project and is pleased to provide the following update.

Feasibility Study 

Work on the bankable feasibility study formally commenced in February 2004 under the coordination of internationally recognized consultants, M3 Engineering & Technology Corporation. The work program is proceeding on schedule and budget and is expected to be complete by September 2004.

Water Exploration

Frontera has been conducting an exploration program developed by its hydrogeological consultants, Hawkins and Peacock. 20 exploration drill holes were completed including 17 in the prospective Tabelo area of the San Bernadino basin. In the opinion of the company's consultants the results of the exploration program demonstrated sufficient potential to merit large diameter well construction and pump testing. Well construction has begun.

In order to gain a water rights permit for Piedras Verdes Frontera must complete a hydrogeologic study on the effects of extracting 2000 gallons per minute (454 cubic meters per hour) of water from the target aquifer. The company has signed a contract with the University of Sonora to conduct the study which is expected to be complete by November.

Permitting

Frontera's environmental consultants Patricia Aguayo & Associates are conducting the work required to prepare the environmental impact statement, the change of land use and the risk assessment studies. The consultants are also currently actively establishing baseline measurements in the project area with soil and bedrock sampling complete and analysis underway and alternatives for ground water testing being evaluated.

Frontera was notified by the Instituto Nacional de Antropologia e Historia (INAH) that during their review of the project area four sites of archaeological or cultural significance meriting excavation and study were discovered. The company is working with INAH to develop the required archaeological survey. The study is not expected to impact the construction schedule or layout of the project.

Ejidos and Land

During the last four months the company has purchased and demolished 30 homes in the Piedras Verdes community. A total of 53 homes remain. In terms of an agreement between Frontera and the community, the inhabitants have the option to sell their homes to Frontera and leave the area immediately or sell their homes later and relocate to the new townsite. A number of additional villagers are expected to accept the offer to sell their homes and leave the area in the coming weeks.

The new Ejido Piedras Verdes townsite has been officially designated by the Ejido members and the current land owner has agreed to sell the land required to the Ejido. Frontera is discussing with contractors proposals for the design, clearing and construction of infrastructure for the new townsite.

Frontera is working with landowners to secure powerline and road access rights. The company has surface rights agreements with two of the three Ejidos.

Frontera is in discussions with members of the Ejido Piedras Verdes and private landowners whose land the company wishes to acquire or gain surface rights over.

Financing

Upon completion of the bankable feasibility study Frontera will review the opportunity to complete an equity issue and begin formal discussions with lenders regarding a project financing. The company is reviewing the alternative to reduce initial capital by using either a mine contractor or a lease-purchase program for mine equipment and is in preliminary discussions with parties for the provision of these services. As part of the bankable feasibility study the company will evaluate the economic benefit of such capital reductions against the corresponding increase in operating costs. Frontera anticipates having financing in place by year end 2004 to enable it to commence construction in 2005 and copper cathode production in early 2006.

Frontera is a reporting issuer in Ontario and was incorporated in March of 2002 to purchase and to bring to production the Piedras Verdes mine-for-leach SXEW copper project in Sonora, Mexico. Based on 70,000 meters of drilling, recoverable copper contained in the deposit is estimated to exceed one billion pounds.

For further technical information concerning the Piedras Verdes mine please refer to the technical report entitled "Technical Report for the Piedras Verdes Copper Project, Alamos, Sonora, Mexico" dated August 2002, which is available on the SEDAR website www.sedar.com.