Homeland Nickel Exploration Update and Property Acquisitions

On November 4, 2025, Homeland Nickel announced it had staked 174 new mining claims (3,595 acres) at its new Josephine Creek property in Oregon. The company also released surface sample assay results from the property. 82 samples were collected, returning an average grade of 0.73% Nickel (Ni). Notably, ten of these samples graded 1.00% Ni or higher, with a peak value of 1.21% Ni.

The CEO stated that Josephine Creek is located near their Woodcock Mountain property, has good infrastructure access, and is situated outside of any land "Withdraw Area," which has caused permitting delays at other company properties. The company plans a 2026 program to define an initial resource at Josephine Creek based on surface sampling and augering.

This news is a positive, albeit routine, step for Homeland Nickel. The assay results from surface sampling at Josephine Creek are encouraging for an early-stage exploration target, confirming the presence of nickel laterite mineralization with grades exceeding 1% in several locations.

Critically, the acquisition and exploration of Josephine Creek align with a strategy the company has been developing throughout 2025. Following expressed frustration in July over permitting delays at their main Red Flat and Cleopatra properties (which are within a "withdraw area"), the company has been actively acquiring and exploring properties outside this area. This began with the staking of Woodcock Mountain in August and now continues with Josephine Creek. This demonstrates a pragmatic approach to de-risking their portfolio from a jurisdictional and permitting standpoint.

However, the impact is not material for the following reasons: - Early Stage: These are surface grab samples. While encouraging, they are not drill results and do not define tonnage or consistent grade over any meaningful area. An initial resource is not planned until 2026. - Context of Prior News: The October 7th announcement of a Memorandum of Understanding (MOU) with Brazilian Nickel Ltd. was far more significant. That partnership brings crucial technical expertise in laterite heap leaching, a major hurdle for projects of this type, and adds significant credibility to the entire Oregon portfolio. Today's news is simply the execution of the exploration strategy that the BNL partnership is meant to support. - Financial Overhang: The company's precarious financial position, as detailed in its September 26 financial statements, remains the most critical issue. With only $108,649 in cash as of July 31, 2025, and a quarterly operating cash burn of over $500,000, the company is entirely dependent on selling its portfolio of marketable securities to fund these exploration programs. This exploration success does not alleviate the immediate and significant financing risk.

In summary, the news confirms the company is executing its exploration plan and building a pipeline of projects with lower permitting risk. It is a positive operational update, but it does not address the core financial risks and is overshadowed by the more impactful BNL partnership announcement from the previous month.

Homeland Nickel Inc. is a Canadian-based junior exploration company focused on developing a portfolio of nickel laterite properties in Oregon, USA. The company's strategy is to establish a domestic US source of nickel.

The flagship assets are the Red Flat and Cleopatra properties, which host significant, non-NI 43-101 compliant historical resources. However, development of these has been hampered by permitting challenges as they lie within a federal "withdraw area." In response, the company has expanded its portfolio to include earlier-stage properties outside this area, such as Eight Dollar Mountain, Woodcock Mountain, and now Josephine Creek.

The company also holds a 30% interest in the Great Burnt Copper Property in Newfoundland through a joint venture with Benton Resources Inc.