Vancouver, British Columbia — January 12, 2026 — Leads & Copy — Freeport Resources Inc. (TSXV: FRI) (OTCQB: FEERF) (FSE: 4XH) announced that the Government of Papua New Guinea (PNG) has expressed support for the Yandera Copper Project, one of the largest undeveloped copper projects in the world.
PNG’s Prime Minister, the Hon. James Marape, has shown his support of the Yandera Copper Project, stating it is a nationally important project promising long-term value for the country. Freeport Resources is in discussions to advance the Yandera Copper Project to Feasibility Study and Final Investment Decision.
The Yandera Copper Pre-Feasibility Study* demonstrates the project’s potential as a large-scale, open-pit copper mining operation with annual production of 100,000 tonnes of copper over a 20-year LOM.
Dr. Nathan Chutas, Senior Vice President Operations, Freeport Resources, and Tobias Kulang Thomas, Senior Advisor, recently met with the Honourable Vincent Kumara, newly elected Member of Parliament for Usino-Bundi in Madang Province, to discuss potential regional benefits of the large-scale Yandera Copper Project. Freeport Resources is committed to strengthening the Company’s relationship with the Government of PNG and local communities while working to advance the Yandera Copper Project toward a Feasibility Study and Final Investment Decision.
The Company also notes PNG’s Prime Minister, the Honourable James Marape, in his opening address at PNG Investment Week in December 2025, expressed his support of Yandera Copper and commitment to securing greater benefits for the local people of Usino-Bundi to ensure the region’s economic development.
Mr. Gord Friesen, Chief Executive Officer, of Freeport Resources, said, “We appreciate the ongoing support of the Government of Papua New Guinea. The historical Pre-Feasibility Study* for the Yandera Copper Project provides strong economics of the project’s potential as a large-scale, open-pit copper mining operation with annual production of 100,000 tonnes of copper over a 20-year life of mine.”
Freeport Resources continues to make progress on key activities related to advancing regulatory approvals under the Exploration License EL1335 renewal process. The MRA has scheduled the Warden’s Hearing for the renewal of the EL1335, and preparations for this meeting are now underway. EL1335 covers the 245.5 square kilometer concession comprising the Yandera Copper Project.
The Yandera Copper Project has a 2017 Pre-Feasibility Study* by Worley Parsons based on 588 drillholes totaling 180,367 metres, resulting in the calculation of historical Measured and Indicated Resources of 727 million tonnes of copper grading 0.39% copper equivalent. With materially stronger copper, gold and molybdenum prices, Freeport Resources anticipates a significant re-rate of Yandera Copper’s value could be reflected in the proposed Feasibility Study. Furthermore, according to the 2025 Optimization Study conducted by Practara (Pty) Ltd., copper, gold and molybdenum prices above those used in the 2017 Yandera Copper Pre-Feasibility Study* could result in higher revenues and positively impact cash flow.
Freeport Resources also announced that the Company has closed the final tranche of its non-brokered private placement through the issuance of 35,783,332 units at a price of $0.03 per Unit for aggregate gross proceeds of approximately $1,073,499.96 (the “Final Tranche”). Each Unit consists of one common share of the Company, and one-half-of-one share purchase warrant. Each Warrant entitles the holder to acquire an additional common share at a price of $0.06 for a period of twelve months following issuance.
The Final Tranche formed part of a larger offering by the Company which totaled 117,061,663 Units for gross proceeds of $3,511,849.89. The Company anticipates utilizing the proceeds from the Offering for the continued development of the Yandera Copper Project and for general working capital purposes.
In connection with completion of the Offering, the Company paid finders’ fees of $11,925 to an arms-length party who assisted in introducing a subscriber to the Offering. The Company also confirms that it previously issued 2,106,700 Warrants to Daniel Fox-Davies, the sole owner of IStar Capital Ltd., who also assisted with the Offering.
The Company has granted an aggregate of 15,000,000 incentive stock options (the “Options”) to certain directors, officers and consultants to the Company in accordance with its omnibus incentive plan. The Options vest immediately and are exercisable at a price of $0.06 until January 12, 2031.
Dr. Nathan Chutas, PhD, CPG, Senior Vice-President of Operations for Freeport Resources, is a qualified person for the purposes of National Instrument 43-101. Dr. Chutas has reviewed and approved the technical content in this announcement.
* Independent Technical Report on the Yandera Project – Pre-Feasibility Study, prepared for Era Resources Inc. and dated effective November 27, 2017.
Gord Friesen, Chief Executive Officer
T. (236) 334-1660
E. gord@freeportresources.com
Source: Freeport Resources
