Freeport Announces Option Grant

Web: www.freeportresources.com

NEWS RELEASE November 6, 2020

Freeport Announces Option Grant

Vancouver, British Columbia – (November 6, 2020) – Freeport Resources Inc. (TSX-V: FRI)

(“Freeport”, or the “Company”) announces that it has granted 2,200,000 incentive stock options to

certain directors, officers and consultants of the Company. The options vest immediately and are

exercisable to acquire common shares of the Company at a price of $0.29 until November 6, 2025.

About Freeport

Freeport is a Canadian junior exploration company with a diverse portfolio of properties -- the Red

Rose Mine (a past producer of tungsten-gold-copper), Spanish Mountain Gold (adjacent to a

proposed open-pit gold mine), and the Q (a large, well-known fluorspar deposit), all located in British

Columbia. Freeport recently acquired Quidum Resources Inc. and, through its wholly owned

subsidiary Highlands Pacific Resources Ltd., controls the Star Mountains project in Papua New

Guinea. Please visit www.freeportresources.com or contact us for more information.

On behalf of the Board,

Freeport Resources Inc.

Gord Friesen, Chief Executive Officer

(236) 334-1660 or [email protected]

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange)

accepts responsibility for the adequacy or accuracy of this release.

This news release may contain certain “Forward-Looking Statements” within the meaning of the United States Private Securities Litigation

Reform Act of 1995 and applicable Canadian securities laws. When or if used in this news release, the words “anticipate”, “believe”,

“estimate”, “expect”, “target, “plan”, “forecast”, “may”, “schedule”, “intends” and similar words or expressions identify forward-looking

statements or information. Such statements represent the Company’s current views with respect to future events and are necessarily

based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to

significant business, economic, competitive, political and social risks, contingencies and uncertainties. Many factors, both known and

unknown, could cause results, performance or achievements to be materially different from the results, performance or achievements that

are or may be expressed or implied by such forward-looking statements. The Company does not intend, and does not assume any

obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or

any other events affecting such statements and information other than as required by applicable laws, rules and regulations.