Freeport to allow exploration licence EL 1312 to lapse

Vancouver, British Columbia – (September 21, 2022)

FREEPORT SURRENDERS STAR MOUNTAINS TENEMENT

Freeport Resources Inc. will not proceed with a further renewal of exploration licence No. EL 1312, previously granted by the Papua New Guinea Minister of Mining. The licence represents the key tenement within the Star Mountains property, and it will be allowed to lapse in accordance with its existing terms.

Earlier in the year, the company had closed down the Star Mountains work camp and has elected not to proceed with a renewal to allow it to focus resources toward the advancement of the Yandera copper project, also located in Papua New Guinea, and in light of current market conditions in the natural resource sector.

About Freeport Resources Inc.

Freeport is a copper-centric resource company based in Vancouver, B.C. It is focused on the development of its copper and gold projects principally located in Papua New Guinea.

We seek Safe Harbor.