PetroFrontier Corp. Provides Update on the Filing of its 2024 Annual Financial Statements

(TheNewswire)

May 16, 2025 – Calgary, AB – TheNewswire - PetroFrontier Corp. (" PetroFrontier " or the " Company ") (TSXV: PFC) announcesthat, further to its news release issued on May 2, 2025 whereby theCompany announced that the Alberta Securities Commission, as principalregulator of the Company, issued a management cease trade order(" MCTO ") toPetroFrontier pursuant to its application under National Policy 12-203Management Cease Trade Orders (" NP 12-203 ") in respect of the default regarding thedelay of the filing of its annual financial statements, accompanyingmanagement’s discussion and analysis and related chief executiveofficer (“ CEO ”) and chieffinancial officer (“ CFO ”)certifications for the financial year ended December 31, 2024(collectively, the “ AnnualFilings ”), there will be a continued delay in the filing ofthe Annual Filings.

PetroFrontier continues to work closely with its auditor MNP LLPand is making every effort to submit the Annual Filings in a timelyfashion and expects to file no later than May 30, 2025, and confirmsthat since the Corporation's news release dated May 2, 2025, there isno other material information concerning the affairs of the Companythat has not been generally disclosed.

The MCTO prohibits the CEO and the CFO from trading in securities ofPetroFrontier for so long as the Annual Filings are not filed. Theissuance of the MCTO does not affect the ability of persons other thanthe CEO and the CFO of the Company to trade in the Company'ssecurities.

Until the Annual Filings have been filed, the Company confirms that itintends to continue to satisfy the provisions of the alternativeinformation guidelines specified in NP 12-203 for so long as itremains in default as a result of the late filing of the AnnualFilings by issuing biweekly default status reports in the form offurther news releases.

About PetroFrontier Corp.

PetroFrontier is a junior energy company currentlyfocused on developing two Mannville heavy oil plays in the Cold Lakeand Wabasca areas of Alberta.

PetroFrontier’s head office is in Calgary, Albertaand its common shares are listed for trading on the Exchange under thesymbol “PFC”.

For More InformationContact

Kelly Kimbley, CEO & Director

PetroFrontier Corp.

Suite 700, 903 - 8 Avenue S.W.

Calgary, Alberta, Canada T2P 0P7

Telephone: (403) 650-6355

Email: info@petrofrontier.com

Forward LookingInformation and Risk Factors

This news release contains statements and informationthat may constitute "forward-looking information" within themeaning of applicable securities legislation, including statementsidentified by the use of words such as "will","expects", "positions", "believe","potential" and similar words, including negatives thereof,or other similar expressions concerning matters that are nothistorical facts.

Such forward-looking information is notrepresentative of historical facts or information or currentcondition, but instead represent only the Company's beliefs regardingfuture events, plans or objectives, many of which, by their nature,are inherently uncertain and outside of the Company's control.Generally, such forward-looking information can be identified by the use of forward-lookingterminology such as "plans", "expects" or"does not expect", "is expected","budget", "scheduled", "estimates","forecasts", "intends", "anticipates" or"does not anticipate", or "believes", orvariations of such words and phrases or may contain statements thatcertain actions, events or results "may", "could","would", "might" or "will be taken","will continue", "will occur" or "will beachieved". The forward-looking information contained herein mayinclude, but is not limited to, information concerning the estimatedfiling date of the Annual Filings.

By identifying such information andstatements in this manner, the Company is alerting the reader thatsuch information and statements are subject to known and unknownrisks, uncertainties and other factors that may cause the actualresults, level of activity, performance or achievements of the Companyto be materially different from those expressed or implied by suchinformation and statements. Some of these risks include, but are notlimited to, the risk that the Annual Filings are filed later thananticipated, the risk that the Company’s MCTO is revoked for anyreason, in which case there is a risk that trading in the Company’ssecurities may halted by the TSX Venture Exchange and/or cease tradedtemporarily by the Canadian securities commissions until such time asthe Annual Filings are filed on SEDAR+.

Additional information regarding risks anduncertainties of the Company's business are contained under theheading "Business Risks and Uncertainties" in the Company'sManagement's Discussion & Analysis for the condensed interimconsolidated financial statements for the nine months ended September30, 2024 and the Company's other public filings which are availableunder the Company's profile on SEDAR+ at www.sedarplus.ca . Although the Company hasattempted to identify important factors that could cause actualresults to differ materially from those contained in theforward-looking information, there may be other factors that causeresults not to be as anticipated, estimated or intended.

In connection with the forward-lookinginformation contained in this news release, the Company has madecertain assumptions. Although the Company believes that theassumptions and factors used in preparing, and the expectationscontained in, the forward-looking information and statements arereasonable, undue reliance should not be placed on such informationand statements, and no assurance or guarantee can be given that suchforward-looking information and statements will prove to be accurate,as actual results and future events could differ materially from thoseanticipated in such information and statements. The forward-lookinginformation contained in this news release is made as of the date ofthis news release, and the Company does not undertake to update anyforward-looking information and/or forward-looking statements that arecontained or referenced herein, except in accordance with applicablesecurities laws. All subsequent written and oral forward-lookinginformation and statements attributable to the Company or personsacting on its behalf are expressly qualified in their entirety by thisnotice.

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