Freeport provides Notakwanon update

TSX Venture Exchange:          FRI
Shares Issued:          10,449,232
Fully Diluted:          12,927,732

VANCOUVER, Sept. 1 /CNW/ - FREEPORT RESOURCES INC. is pleased to update
developments at its Notakwanon property in northern Labrador. The claims are
about 25 km southeast of the Voisey's Bay nickel mine, and near the major
structural boundary which runs through that mineral deposit.
With recent staking in the area, Freeport's 100% owned Notakwanon
property has been completely surrounded by a large block of claims held by
Inco Ltd. and Cornerstone Capital Resources, recently noted in John Kaiser's
Bottom Fishing Report. Inco's first year assessment report on the adjacent
claims states, "The occurrence of troctolitic breccias with Tasiuyak Gneiss
inclusions and disseminated sulphides is a characteristic of the Voisey's Bay
deposit."
As noted in Freeport's May 2, 2005, press release, an audio-
magnetotelluric (AMT) geophysical survey performed by Inco extended
approximately 600 metres inside Freeport's property boundary. Importantly, the
primary geophysical anomaly extends across Freeport's claims. Freeport has
engaged the Ecole Polytechnique in Montreal to reinterpret Inco's geophysical
data and this work is presently underway. Several rock samples were collected
at the site last week by John Archibald APGO and have been sent for assay.
Once results will be reviewed, they will be released.
John Archibald is the Qualified Person who has reviewed this news
release. To the knowledge of the company, no other material facts are
available at this time.

Freeport Resources, founded in 1981, is a junior mineral exploration
company listed on the TSX Venture Exchange. Freeport has landholdings in
Labrador and B.C., with a special focus on industrial minerals, precious
metals, and gemstones.

                       Respectfully submitted
                       on behalf of the Board of Directors,

                       "Brenda Clark"

                       Brenda Clark, MAIBC
                       President

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