Homeland Uranium expands drilling at Coyote Basin

On January 22, 2026, Homeland Uranium Corp. (Homeland) released an operational update regarding its ongoing drilling campaign at the Coyote Basin Uranium Project in Colorado. * Drilling Progress: The company has completed 3,777 meters of a planned 5,300-meter program. This update focuses on 5 holes drilled in the central and northern areas of the project. * Visual/Gamma Results: The company reports "elevated radioactivity" in the northern portion of the project, which they state is consistent with historical drilling data. * Geological Context: The drilling is targeting the extension of a mineralized system identified in the 1970s. The release notes that the radioactive horizon appears continuous. * Data Gap: Crucially, no chemical assay results were provided. The company explicitly notes that geochemical samples have been shipped for analysis, but current results rely on downhole probe data.

The news is Routine - Positive. It confirms that the exploration program is active and that the geological model (continuity of the radioactive horizon) is holding up so far. However, it does not fundamentally alter the valuation of the company at this stage for the following reasons: * Lack of Assays: In uranium exploration, particularly in sedimentary deposits like Coyote Basin, "elevated radioactivity" measured by handheld or downhole scintillometers does not always correlate to economic uranium grades due to disequilibrium. Uranium can leach out of the rock, leaving behind radioactive daughter isotopes that trigger the sensors but hold no economic value. Until lab assays confirm U3O8 grades, the mineralization is theoretical. * Confirmation vs. Discovery: The program is largely designed to confirm historical resources (from the 1970s). While validating historical data is a necessary step for a NI 43-101 resource estimate, it is less explosive than a greenfield discovery. * Operational Momentum: The update proves management is executing the plan outlined during their listing, utilizing their cash pile to put drill bits in the ground.

• Company: Homeland Uranium Corp. (formerly Valleyview Resources) is a US-focused uranium explorer listed in March 2025 via RTO.
• Flagship Project: Coyote Basin (Colorado, USA).
  • History: Discovered in the 1970s by Western Mining.
  • Geology: Sandstone-hosted uranium.
  • Resource: Historical (non-compliant) resource of ~8.85M tons @ 0.20% U3O8 (approx. 35.4M lbs U3O8). The company's primary goal is converting this to a modern NI 43-101 resource.
• Secondary Projects:
  • Red Wash: adjacent to Coyote Basin.
  • Skull Creek: Acquired Sept 2025, contains the "Cross Bones" deposit (historical ~44M lbs U3O8).
  • Fraser Lake: Copper/Gold property in BC (royalty interest/non-core).