International Frontier Resources and Kinjal complete Mision Field sale

Calgary, Alberta--(Newsfile Corp. - August 18, 2026) - International Frontier Resources Corporation (TSXV: IFR) (" IFR ") and Kinjal Corporation (" Kinjal ") are pleased to announce that IFR's wholly owned subsidiary, Petro Frontera (" PF "), has executed definitive sale and purchase agreements with both Tecpetrol Operaciones (" TPO ") and Industrial Perforadora de Campeche (" IPC ") related to the acquisition of 100% of the share capital of Servicios Múltiples de Burgos, S.A. de C.V. (" SMB "), which holds the Misión Field asset.

SMB is the operator and holder of a 49% working interest, and together with partner PEMEX, holds the contract with the Secretariat of Energy ( Secretaría de Energía ) of the United Mexican States (" SENER "), for the Exploration and Extraction of Hydrocarbons under the modality of a Production-Sharing Arrangement ( Contrato para la Exploración y Extracción de Hidrocarburos bajo la modalidad de producción compartida) CNH-M3-Misión/2018, dated March 2, 2018 (" CEE "), in the Misión contract area, located in the United Mexican States.

On completion of the proposed reverse takeover of IFR by Kinjal (the " RTO Transaction ") and approval by the Mexican authorities including SENER, the Misión Field will be the Resulting Issuer's core cash-flowing asset and offers immediate, low-risk development upside:

Misión is the largest privately operated natural gas field on land in Mexico, currently producing approximately 60 MMcf/d gross (10,000 boepd gross) with condensate volumes.

Mature, long-life, non-associated natural gas asset with decades of production history and established regional infrastructure.

Clear near-term development upside, with potential to restore production toward ~120 MMcf/d gross (20,000 boepd gross) through development drilling, recompletion program, and field optimization.

Strategic value enhanced by the ability to sell gas into the private market directly.

Both sale and purchase agreements (for 24.5% and 24.5% respectively) have been executed on substantially similar terms. However, as Tecpetrol has been in control of the day-to-day management and operations of SMB, PF and Tecpetrol have also executed a detailed transitional services agreement to ensure a seamless handover of SMB's business to PF. This agreement will become effective as of the closing date and continue for a period of three months and may thereafter be extended for a further three months at PF's option.

Warren Levy, Kinjal's CEO, commented, "This is another important step forward in the execution of our natural gas strategy in Mexico. The acquisition of SMB will form the cornerstone of our immediate cash flow and production growth. We have developed a solid, highly supportive relationship with the team from Tecpetrol and our transition team are confident that the services agreement will ensure a smooth hand-over, while retaining the operating knowledge and excellence that Tecpetrol have built in over twenty years of operating the Misión project."

Closing of the SMB acquisition is still subject to a number of conditions precedent, including PEMEX's waiver of their right of first refusal and SENER's approval of change of operatorship.

Completion of the transaction is subject to a number of conditions, including but not limited to, the Exchange's acceptance and if applicable, disinterested shareholder approval. Where applicable, the transaction cannot close until the required shareholder approval is obtained. There can be no assurance that the transaction will be completed as proposed or at all.

Investors are cautioned that, except as disclosed in the management information circular or filing statement to be prepared in connection with the transaction, any information released or received with respect to the transaction may not be accurate or complete and should not be relied upon. Trading in the securities of IFR should be considered highly speculative.

The Exchange has in no way opined upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this news release.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

About Kinjal

Kinjal is a private oil and gas company incorporated under the laws of Ontario and focused on Mexican upstream oil and gas opportunities. Kinjal intends to pursue the Proposed Mexican Asset Transactions described above.

About International Frontier Resources Corporation

International Frontier Resources Corporation is a Canadian publicly traded oil and gas company focused on the acquisition and development of energy assets. Through its Mexican subsidiary, Petro Frontera S.A.P.I. de C.V., IFR has been advancing petroleum and natural gas assets in Mexico.

IFR's shares are listed on the Exchange under the symbol IFR.

For further information contact:

Kinjal Corporation - Warren Levy, wlevy@kinjalgas.com

International Frontier Resources Corporation - Tony Kinnon, tkinnon@internationalfrontier.com

Cautionary Note Regarding Forward-Looking Information

This news release contains forward-looking statements and forward-looking information (collectively " forward-looking information") within the meaning of applicable securities laws. Any statements that are contained in this press release that are not statements of historical fact may be deemed to be forward-looking information. Forward-looking information is often identified by terms such as "may", "should", "anticipate", "will", "estimates", "believes", "intends" "expects" and similar expressions which are intended to identify forward-looking information. More particularly and without limitation, this new release contains forward-looking information concerning: the assets of Kinjal and the Proposed Mexican Asset Transactions, including the completion of the Proposed Mexican Asset Transactions, the reasons for the formation of Kinjal including the objective of contributing to the country's energy priorities by supporting domestic natural gas production, the increase in Mexican production as a result of the formation of Kinjal, the potential of the Proposed Mexican Asset Transactions, including development upside, production growth and a stable long life production platform of such assets and the Proposed Mexican Asset Transactions being a high impact growth project with development and exploration upside that management believes can be advanced within internally generated cash flow, supporting disciplined growth and long-term value creation; and the Resulting Issuer. IFR cautions that all forward-looking information is inherently uncertain. There can be no assurance that such forward-looking information will prove to be accurate. Actual results and ‎future events could differ materially from those anticipated in such forward-looking information. This forward-‎looking information reflects IFR's current beliefs and is based on information currently available to ‎IFR and on assumptions IFR believes are reasonable. These assumptions include, but are not ‎limited to: assumptions with respect to the Definitive Agreement and its terms; the ability to obtain IFR shareholder approval and the timing and results of a meeting in respect of the same; the Exchange's acceptance of the RTO Transaction, and other items disclosed in this news release; the terms of, and completion of the Proposed Mexican Asset Transactions; market acceptance of the Concurrent Financing; the satisfaction or waiver of any conditions to the RTO Transaction, contained in the Definitive Agreement or the Escrow Release Conditions; shareholder approval of the RTO Transaction, and any other required approvals in relation to the same; regulatory approval in relation to the RTO Transaction and the Proposed Mexican Asset Transactions; successful execution and completion of any ancillary agreements described in this news release, or necessary or desirable for the completion of the RTO Transaction; oil and gas information in relation to the Proposed Mexican Asset Transactions, and financial information and financial statements of Kinjal, being accurate and as disclosed to IFR and its directors and officers; the timing of filing regulatory applications and the expected results thereof; the impact of governmental controls and regulations on IFR's and the Resulting Issuer's operations; the timing of receipt of required approvals and permits from regulatory authorities, including but not limited to any approvals and notices that may be required under the Investment Canada Act , if applicable; Kinjal's and the Resulting Issuer's assets, liabilities, financial resources, financial position and growth prospects; the anticipated benefits from the Proposed Mexican Asset Transactions and the Concurrent Financing; and expectations regard prevailing commodity prices, access to premium-priced domestic gas markets, exchange rates, interest rates, applicable royalty rates and tax laws. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance, or achievements of IFR, and the potential completion of the transactions disclosed in this news release, to be materially different from those expressed or implied by such forward-looking information. Such risks and other factors may include, but are not limited to: general business, economic, competitive, political and social uncertainties; general capital market conditions and market prices for securities; delay or failure to receive board or regulatory approvals, including the Exchange's acceptance; the actual results of future operations; difficulties in obtaining financing and risks inherent in oil and natural gas operations; fluctuations in the price of oil and natural gas, interest and exchange rates; the risks of the oil and gas industry, such as operational risks and market demand; governmental regulation of the oil and gas industry, including environmental regulation; actions taken by governmental authorities, including increases in taxes and changes in government regulations and incentive programs; geological, technical, drilling and processing problems; the uncertainty of resource and reserves estimates and reserves life; unanticipated operating events which could reduce production or cause production to be shut-in or delayed; hazards such as fire, explosion, blowouts, cratering, and spills, each of which could result in substantial damage to wells, production facilities, other property and the environment or in personal injury; encountering unexpected formations or pressures, premature decline of reservoirs and the invasion of water into producing formations; failure to obtain industry partner and other third party consents and approvals, as and when required; competition; the timing and availability of external financing on acceptable terms; and lack of qualified, skilled labour or loss of key individuals. A description of additional risk factors that may cause actual results to differ materially from forward-looking information can be found in IFR's disclosure documents on the SEDAR+ website at www.sedarplus.ca . Although IFR has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. Readers are cautioned that the foregoing list of factors is not exhaustive. Readers are further cautioned not to place undue reliance on forward-looking information as there can be no assurance that the plans, intentions, or expectations upon which they are placed will occur. Forward-looking information contained in this news release is expressly qualified by this cautionary statement. The forward-looking information contained in this news release represents the expectations of IFR as of the date of this news release and, accordingly, is subject to change after such date. However, IFR expressly disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities law.

Other Cautionary Statements

THIS PRESS RELEASE, IS NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED STATES AND DOES NOT CONSTITUTE AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO SELL ANY OF THE SECURITIES OF THE ISSUER IN THE UNITED STATES. THE SECURITIES OF THE ISSUER HAVE NOT BEEN, AND WILL NOT BE, REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS, AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OR TO U.S. PERSONS UNLESS REGISTERED OR EXEMPT THEREFROM.

This news release shall not constitute an offer to sell or the solicitation of an offer to buy any securities in any jurisdiction.

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES OF AMERICA.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/310249

TMX Newsfile

August 18, 2026 - 5:28 AM PDT

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