Alamos is to pay a total of US$40 million and issue a total of four million shares to the vendors in consideration for these two projects. In addition to statutory compensation that may apply to the projects, a third party has a 2% Net Smelter Return Royalty on production from the Agi Dagi project.

Fronteer and Teck have agreed to negotiate exclusively with Alamos. Completion of the transaction is subject to 60-day due diligence period, the execution of definitive agreements, and the approval of Alamos' Board of Directors and the TSX.

Agi Dagi and Kirazli are advanced-stage gold exploration projects that form part of the Biga Mineral District, a recently established gold-copper mineral district, which is located in the Biga Peninsula of northwestern Turkey. The Biga Mineral District features a growing number of high-sulfidation epithermal gold and associated porphyry copper-gold deposits, drawing comparisons to world-class districts such as Yanacocha, Pierina, and Alto Chicama in Peru.

Agi Dagi is located about 50 kilometres ("km") southeast of Canakkale near the town of Can. Kirazli is located approximately 25 km, by paved road, northwest of Agi Dagi. The region is well-serviced with electricity, transmission lines, and electrical generating facilities.

In June 2007, Fronteer published NI 43-101 compliant resources for the Agi Dagi and Kirazli gold properties. Fronteer defined three gold deposits that collectively contain measured and indicated oxide resources of 1.293 million ounces of gold and 8.4 million ounces of silver, plus inferred oxide resources of 702,000 ounces of gold, and 5.254 million ounces of silver at a cut-off of 0.5 grams of gold per tonne ("g/t Au"). These oxide resources are open for expansion and summarized in Table 1. In addition to the oxide resources, significant sulphide resources are also contained within these three deposits.

Table 1: Agi Dagi & Kirazli Oxide Resources (0.5 g/t Au cut-off)(1)
-----------------------------------------------------------------------
                                   Gold   Silver  Contained  Contained
Resource                          Grade    Grade       Gold     Silver
Classification           Tonnes (g/t Au) (g/t Ag)    (oz Au)    (oz Ag)
-----------------------------------------------------------------------
Measured              2,300,000    1.74    13.51    129,000    999,000
Indicated            34,800,000    1.04     6.61  1,164,000  7,401,000
-----------------------------------------------------------------------
Measured & Indicated 37,100,000    1.08     7.04  1,293,000  8,400,000
Inferred             19,800,000    1.10     8.25    702,000  5,254,000
-----------------------------------------------------------------------
(1) Certain numbers may not compute due to the effects of rounding and
    truncation.

Since publishing these results, Fronteer and Teck have completed an additional 81 holes of core and reverse-circulation drilling on the three main mineralized zones. Based on Alamos' initial review, it is expected that these drill results will add to the resource when incorporated into the model.

In addition to the defined gold resources, only five holes have been completed on other targets on these concessions.