Freeport Resources Inc. announced that it will not be proceeding with a further renewal of Exploration License Number EL 1312, previously granted by the Papua New Guinea Minister of Mining. The license represents the key tenement within the Star Mountains Property, and it will be allowed to lapse in accordance with its existing terms. Earlier in the year the Company had closed down the Star Mountains work camp and has elected not to proceed with a renewal in order to allow it to focus resources towards the advancement of the Yandera Copper Project, also located in Papua New Guinea, and in light of current market conditions in the natural resource sector.