Mr. Gord Friesen reports

FREEPORT RESOURCES ANNOUNCES CLOSING OF SECOND TRANCHE OF PRIVATE PLACEMENT

Further to the news releases of Oct. 15, 2025, and Dec. 11, 2025, Freeport Resources Inc. has closed the second tranche of a non-brokered private placement through the issuance of 24,099,999 units at a price of three cents per unit for aggregate gross proceeds of approximately $723,000. Each unit consists of one common share of the company and one-half of one share purchase warrant. Each warrant will entitle the holder to acquire an additional common share at a price of six cents for a period of 12 months following issuance.

The second tranche forms part of a larger offering by the company of up to 116,666,666 units by way of a non-brokered private placement at a price of three cents per unit for gross proceeds of up to $3.5-million. The company anticipates utilizing the proceeds from the offering for the continued development of the Yandera copper project and for general working capital purposes. The company does not anticipate that any portion of the proceeds from the offering will be used to conduct investor relations activities. The company does not expect to utilize the proceeds of the offering to make payments to non-arm's-length parties, other than in the ordinary course of their compensation for services provided to the company.

Following the closing of the second tranche, the company has raised gross proceeds of $2,337,850 through the issuance of 77,928,331 units in connection with the offering. The company anticipates closing the third and final tranche of the offering on or about Dec. 19, 2025.

All securities issued in connection with the offering will be subject to restrictions on resale for a period of four months and one day in accordance with applicable securities laws. Completion of any additional tranche of the offering remains subject to approval of TSX Venture Exchange.

About Freeport Resources Inc.

Freeport Resources is a Canadian mineral exploration company with a primary focus on advancing the development of the Yandera copper-gold-molybdenum project, located in Madang province, Papua New Guinea. The Yandera project is one of the largest undeveloped copper-gold deposits in the world covering approximately 245.5 square kilometres.

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