Homeland Nickel Update on Patriot Nickel and Continued Property Acquisitions

Executive Summary

• Homeland Nickel announced the appointment of Jeffrey Strobel as CEO of its subsidiary Patriot Nickel.
• The company completed the acquisition of Woodcock Mountain and signed an agreement to acquire the Rough and Ready property in Southern Oregon, expanding its nickel laterite portfolio.
• Patriot Nickel will option Homeland’s Cleopatra and Eight Dollar Mountain properties, ultimately holding 80% after a pre‑feasibility study, while Homeland will receive a 20% equity stake in Patriot upon its IPO.

Key Details

• CEO Appointment: Jeffrey Strobel, former U.S. Navy officer and seasoned mining executive, named CEO of Patriot Nickel.
• Patriot Nickel Option Agreement:
• Patriot has optioned Homeland’s Cleopatra and Eight Dollar Mountain nickel laterite properties.
• Upon completion of a pre‑feasibility study, Patriot will own 80% of these properties; Homeland retains 20%.
• Homeland to acquire 20% of Patriot’s common shares at the time of Patriot’s initial public offering (IPO).
• Acquisitions Completed/Agreed:
• Woodcock Mountain acquisition finalized – all payments made and mining claims transferred to Homeland.
• Signed agreement to acquire Rough and Ready property (~640 acres, historic assays up to 2.0% Ni) located <4 km NW of O’Brien, Oregon.
• Rough and Ready Property Highlights:
• Historical drilling (1968‑1970, 1973‑1978) identified average grades ~1.0% Ni; specific auger intercepts include:
  • 1.58% Ni, 0.10% Co, 2.44% Cr over 4 ft from surface (AIG‑78).
  • 1.45% Ni, 2.24% Cr over 5 ft starting 1 ft below surface (AIG‑64).
• Laterite thickness up to 40 ft in places; grades up to 1.58% Ni over 6 ft at surface.
• Exploration Program: Summer 2026 field program planned for Cleopatra, Red Flat, Woodcock Mountain, Josephine Creek, and Eight Dollar Mountain.
• Regulatory Progress: Forest Service approved Surface Use Determination for the Cleopatra Property; environmental review underway.
• Quotes:
• Steve Balch (President & CEO) – “We are very impressed with the high level of talent Patriot Nickel has attracted and we look forward to working closely with Jeff to advance our properties.”
• Steve Balch on Rough and Ready – highlighted historic assays and ongoing consolidation strategy in Southern Oregon.

Notable Quotes

• Steve Balch, President & CEO: “We will continue to acquire the best nickel laterite assets in Southern Oregon as we consolidate these resources.”