Fronteer Establishes 51%-49% Joint Venture at Its Majority-Owned Long Canyon Gold Project

Last update: 7:01 a.m. EDT Oct. 21, 2008

VANCOUVER, BRITISH COLUMBIA, Oct 21, 2008 (MARKET WIRE via COMTEX) -- Fronteer Development Group Inc. ("Fronteer" or the "Company") (CA:FRG: news, chart, profile) (FRG: FRG 1.98, +0.30, +17.9%) is pleased to announce it has elected to continue as majority owner (51%) and manager of Long Canyon through a participating joint venture with AuEx Ventures Inc. ("AuEx") (49%). Fronteer has elected to not earn an additional 14% by sole funding the project through to completion of a feasibility study.

Fronteer and AuEx will share funding 51% / 49%, with each interest subject to straight-line dilution for non-participation.

Near- and at-surface, oxide, high-grade gold mineralization has now been intersected in drilling over a strike length of 1,600 metres (one mile). Mineralization remains open in all directions and extends well beyond the current limits of soil geochemistry. Ongoing drilling, detailed mapping and geophysical work continue to contribute to the understanding of gold mineralization at Long Canyon, located 6.5 km (four miles) south of the I-80 Freeway corridor in northeastern Nevada.

A project-first NI 43-101 resource estimate is planned by the end of January 2009.