Front Street Flow-Through 2006-I Limited Partnership and Front Street Flow-Through 2006-II Limited Partnership today announced that they will be proceeding with the direct and indirect tax-deferred transfer of the assets of each of the 2006-I Partnership and 2006-II Partnership into the Front Street Resource Opportunities Fund (Front Street ROF) of Front Street Opportunity Funds Ltd.

The transaction will take place on January 31 after the close of business. In exchange for the assets, Front Street ROF series B Shares will be issued to the 2006-I Partnership and 2006-II Partnership and then distributed to individual limited partners. Both of these partnerships will be dissolved on or about February 1.

Series B shares are in book entry only form. Consequently, limited partners of the 2006-I Partnership and 2006-II Partnership who want to redeem their series B shares must contact their brokers or dealers to exercise the redemption option. When shares are redeemed, the Front Street ROF will send the shareholder the proceeds within three business days after the calculation date for the net asset value used in establishing the redemption price. The series B shares issued under the rollover transaction will be able to be redeemed through FundServ as soon as possible after the rollover, once the individual holders’ investment advisor has reconciled the positions with FundServ.

Front Street ROF is a fund of Front Street Opportunity Funds Ltd. which is a mutual fund corporation incorporated under the laws of Canada, with Gary Selke as its CEO. Front Street ROF securities are sold under a continuous offering prospectus.

Front Street ROF is advised by Front Street Investment Management Inc., the same investment advisor that has advised both 2006-I Partnership and 2006-II Partnership. The fund’s investment objective is primarily to achieve capital appreciation through investment in a diversified portfolio of equity securities of resource issuers engaged in oil and gas or mining exploration, development or production or other forms of energy production, pulp and paper, forestry industries, or energy product and related resource businesses, such as pipeline or services companies and utilities. The investment advisor will assist the Front Street ROF in selecting investments in common shares and other securities of resource issuers, including junior resource issuers, in accordance with the investment strategies, with the objective of achieving capital appreciation for Front Street ROF shareholders.

Front Street ROF will not charge a fee or commission when shares are acquired under the rollover transaction and will not charge redemption fees. The investment advisor will be entitled to an annual advisor fee equal to 1.5% of net asset value and will be eligible for a performance fee.

Fund shares are categorized into series, being series A shares, series B shares and series F shares. At this time, only series B shares are being issued to investors. Series B shares will be distributed on a “no load” basis. The issue price of the shares is based on the net asset value per share determined in accordance with the rollover transaction.

Front Street ROF will not issue certificates for Front Street ROF shares, but will send shareholders a confirmation statement relating to all purchases and redemptions of shares within 15 days of a transaction.