Rare Earths possess a range of distinctive physical and

chemical properties which make them indispensable for many

new technologies and applications.

Please visit www.frontierrareearths.com or contact ir@frontierrareearths.com for more information.

Frontier – The Next Major Western Rare Earth Producer

Symbol: TSX: FRO

Recent share price: $0.70

Shares outstanding: 89.6 million

Market capitalization: $63 million

52 week range: $0.43 - $1.44 Cash on hand (Oct 2012): $30 million

Frontier Rare Earths (TSX: FRO) is a mineral exploration and development company that is principally focused on rare earth elements - critically important

minerals in high demand in the fast growing electronics, automotive, energy and clean-tech sectors. Frontier’s flagship asset is the Zandkopsdrift rare earth

deposit, which is located in the Northern Cape Province of South Africa and is one of the largest, code compliant, rare earth deposits under development

worldwide. Zandkopsdrift’s favourable location and geological setting are expected to provide significant advantages in relation to capital costs, operating

costs and development time compared to many other rare earth projects currently being evaluated, and makes Frontier well positioned to become one of

the significant new producers of separated rare earths globally. In December 2011, Frontier signed a definitive joint venture agreement

with Korea Resources Corporation (Kores), which is controlled by the Korean Government, in relation to the development of Zandkopsdrift. Korea has

designated rare earths as a strategic raw material for Korea’s future economic growth and selected Zandkopsdrift as the source of their future rare earth

supply. Under its agreement Kores is acquiring an initial 10%, fully participating interest in Zandkopsdrift, along with off-take rights for 10% of the rare earth

production for $23.8m .Kores has options to acquire up to a further 40% interest in Zandkopsdrift and a 10% interest in Frontier at market price following

completion of a Definitive Feasibility Study on Zandkopsdrift. These options, if exercised, would give Kores an off-take obligation for 50% of rare earth production

from Zandkopsdrift. In March 2012 Frontier completed a Preliminary Economic Assessment on Zandkopsdrift which estimated its Net Present Value at $3.6bn

and confirms the significant economic potential of the project. A Preliminary Feasibility Study on Zandkopsdrift is in progress and is currently scheduled for

completion in Q1 2013.

Rare Earths – A Primer

Rare earths is a term commonly used to describe the 15 chemically

similar lanthanide elements which appear together at the bottom of the

periodic table, together with Yttrium and Scandium.

Rare earths are widely recognized as being among the most valuable

and strategically important minerals in the world. Among their key

properties, rare earths have high thermal and electrical conductivity,

magnetism, luminosity, catalytic and optical properties. Current rare earth

applications include hybrid electric vehicles, cell phones, mp3 players,

personal digital assistant devices, wind turbines, fiber optics, computer and

television screens and compact fluorescent lighting. Rare earths are critical

to maintaining a modern, functioning green economy.

Demand growth for rare earths averaged 5% per annum between

2005-2011 and is expected to grow at 7-9% overall through 2016, and

potentially, grow at a higher rate beyond.

The supply of rare earths has been dramatically impacted by new trade

restrictions and policies introduced by China, which in 2011 is estimated

to have accounted for approximately 94% of global rare earths supply.

Frontier’s Growth Strategy & Mid-term Milestones o

Frontier’s mid-term strategy is focused on accelerating the development of its Zandkopsdrift Project. Key milestones include:

Complete a prefeasibility study in Q1 2013.

Advance the Zandkopsdrift rare earth resources into proven and probable reserves at PFS.

Complete a definitive feasibility study 9 -12 months post PFS.

Develop relationships with additional, complimentary strategic partners.

Arrange project finance for Zandkopsdrift and secure all relevant permits for the development.

Undertake regional scale exploration elsewhere in Namaqualand where Frontier controls prospecting rights totalling 135,000 ha and selectively develop a new project portfolio.

Over the longer terms, Frontier will be focused on:

Completing the development of Zandkopsdrift and targeting annual output of 20,000 tons of separated rare earth oxides from lanthanum to dysprosium, plus yttrium at purities between 99% and 99.999%.

Securing further long term off-take agreements for Zandkopsdrift rare earth production in addition to the (up to) 50% off-take agreed with KORES.

Working closely with KORES and other leading industry groups to establish downstream opportunities in the areas of rare earth metals, alloys and magnets.

Expanding the Company’s rare earth, and selectively other minerals, exploration and development project portfolio in South and Southern Africa.

Frontier – The Next Major Western Rare Earth Producer

Please visit www.frontierrareearths.com or contact ir@frontierrareearths.com for more information.

Zandkopsdrift – Africa’s Largest Rare Earth Deposit

Located on surface in Namaqualand, South Africa’s oldest mining province.

Low cost environment with good access to modern infrastructure.

Circa 950,000 tons of total rare earth oxides identified (NI 43-101 compliant).

Geology very well understood with 80% of the resource in the Indicated Resource category and PFS expected to advance the existing resources into the Proven and Probable mineral Reserves.

97% of rare earths in monazite with elevated levels of the highest value heavy and light rare earths present: Praseodymium, Neodymium, Europium, Terbium, and Dysprosium.

Very low level of radioactivity (thorium and uranium) reducing permit and process complexity.

PEA completed and Prefeasibility Study in progress.

Frontier well-positioned to be an early, significant low cost producer of separated rare earths from lanthanum to dysprosium, plus yttrium at purities between 99% and 99.999%.

Production start-up end 2015 at a total target rate of 20,000 tonnes of separated rare earth oxides.

Investment Highlights

Zandkopsdrift is one of the largest, highest grade rare earth deposits in the world. Well located, on surface, close to mining and industrial infrastructure. Demand for rare earths is being driven by their increased use in electronics, automotive, clean-tech and other sectors. Significant demand growth forecast. Frontier’s partnership with Kores positions it as the only major advanced rare earth developer to have concluded a strategic partnership agreement. Frontier’s board and management team have extensive expertise in exploration and project and mine development in Southern Africa. Frontier has no debt and a strong working capital position and is well-positioned to become one of the significant new producers of separated rare earths globally.

Contact Information: ir@frontierrareearths.com Tel. +353–1–4966–006 www.frontierrareearths.com

Analyst Coverage Matt Gibson CIBC Jon Hykawy Byron Capital Markets Luisa Moreno Euro Pacific Canada Edward Otto Cormark