Mr. Steve Balch reports

HOMELAND NICKEL COMPLETES MINORITY SHAREHOLDER ACQUISITION

Homeland Nickel Inc. has closed the previously announced acquisition of an additional 18.5-per-cent interest in Homeland Nickel Corp. (HNC), the U.S. subsidiary holding the rights to the mining claims at the company's Cleopatra and Red Flat nickel laterite properties.

During June and July, 2024, Homeland Nickel successfully negotiated with six of the seven minority shareholders of HNC to acquire 85,990 common shares in the capital of HNC, representing an 18.5-per-cent interest in HNC. Following the acquisition, Homeland Nickel's ownership of HNC increased to 98.5 per cent (from the previous 80 per cent). In exchange for the HNC shares, the company issued to the shareholders of HNC a total of 3,439,600 common shares of Homeland Nickel at an issue price of five cents per share. The consideration shares are subject to a statutory hold period of four months and one day in accordance with applicable securities laws. The company was also able to obtain a full release from all parties.

President and chief executive officer Steve Balch stated: "We thank the minority shareholders of what was formerly Red Flat Nickel Corp. We have provided liquidity to these individuals in the form of Homeland Nickel common shares in return for their interest and a full release. Going forward, we have no debt on these properties and we now own a 98.5-per-cent interest in Cleopatra and Red Flat, up from the previous 80 per cent. We will work to make that interest 100 per cent over time."

The acquisition constituted an expedited acquisition in accordance with TSX Venture Exchange Policy 5.3 (Acquisitions and Dispositions of Non-Cash Assets) and remains subject to final approval by the TSX Venture Exchange.

About Homeland Nickel Inc.

Homeland Nickel is a Canadian-based mineral exploration company focused on critical metal resources with nickel projects in Oregon, United States, and copper projects in Newfoundland, Canada.

We seek Safe Harbor.