Freeport Provides Update on Wardens Hearing on Renewal of Exploration License for Yandera Copper Project

• Positive community support expressed for the renewal of EL 1335 for the Yandera Copper Project and its potential to advance the region's economic development.

• Warden will now produce a report to Mining Advisory Council, following the March 25, 2026 Wardens Hearing.

• Renewal of EL 1335 is a key step towards unlocking the Prefeasibility* stage Yandera Copper Project with a historical 727 million tons of measured and indicated resources averaging 0.39% copper equivalent.

Vancouver, British Columbia--(Newsfile Corp. - March 26, 2026) - Freeport Resources Inc. (TSXV: FRI) (OTCQB: FEERF) (FSE: 4XH) (the "Company" or "Freeport Resources") is pleased to provide an update on the Wardens Hearing process for the renewal of Exploration License 1335 ("EL 1335") which covers the 245.5 square kilometer concession comprising the Yandera Copper Project, located in Papua New Guinea ("PNG").

The Wardens Hearing for EL 1335, which is a mandatory part of the renewal process for all exploration licenses for PNG, took place on March 25, 2026, at Yandera, with all principal landowners, tribes, and clans present. The meeting was conducted by senior Mineral Resources Authority ("MRA") Mining Warden Mr. Kopi Wapa. The communities and landowners turned out in significant numbers in support of the renewal of EL 1335 and advancement of the Yandera Copper Project. Also in attendance were Honorable Vincent Kumura (the member of Parliament for the Usino-Bundi District), and representatives from the Madang Governor's office and the Usino-Bundi District office.

The Yandera Copper Project EL 1335 is administered by the MRA under the Mining Act of 1992 of PNG. Renewals of exploration licenses are two-year terms. The Wardens Hearing was for the renewal of EL 1335 for the term ending November 19, 2027. PNG's Mining Advisory Council considers Freeport Resources' application for renewal of the Yandera Copper Exploration License, together with the Warden report, before making a recommendation to the Mining Minister.

Mr. Nathan Chutas, Senior VP Operations, Director and QP of Freeport Resources, stated: "We are very grateful for the support shown by the Landowner Association, the Madang Provincial Government, our local Member of Parliament the Honorable Vincent Kumura, the Usino Bundi District Development Authority and the many members of the local community who attended the Warden's public hearing on for the renewal of EL 1335. We would also like to thank the leadership of the Mineral Resources Authority of PNG for their efficiencies in processing the application for renewal of Yandera Copper exploration license."

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