Freeport Resources Ltd.Freeport Resources Ltd.

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Freeport Closes Financing & Outlines Plans for 2012

Freeport Resources Inc. (TSXV-FRI) announces closing of its previously disclosed private placement, with a total of $521,000 raised and finders fees of $25,000 paid. Another private placement is anticipated this spring. Please refer to news releases of November 18, and December 28, 2011 for further information. The proceeds will be used to test a bulk loading strategy at the Hutton garnet beaches, a high-grade heavy mineral sands project on tidewater in Labrador, eastern Canada. With a NI43-101 Prefeasibility Study completed (2004), the Hutton is at an advanced stage, with a 5000 tonne bulk sample recently released from Environmental Assessment. Pilot plant work, based on processing 100 tonnes of garnetiferous sand collected already from the site, is commencing.

Work underway in BC includes comprehensive assaying of Adit 2 samples from the Q fluorspar-molybdenum property to outline fluorspar distribution.


You can view the Next News Releases item: Wed Mar 14, 2012, Freeport Receives Fluorspar Results for Q Project (Eaglet)

You can view the Previous News Releases item: Wed Dec 28, 2011, Freeport Closes First Tranche of Financing

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