Homerun Resources Inc. Announces Positive Results of Confirmation Testing by Minerali Industriali Engineering on the Santa Maria Eterna Silica Sand for the Manufacture of Antimony-Free Solar Glass

On December 11, 2025, Homerun Resources Inc. announced positive results from confirmation testing conducted by Minerali Industriali Engineering Srl (MIE) on its Santa Maria Eterna silica sand. The testing confirmed that the high-purity, low-iron silica sand is suitable for manufacturing antimony-free solar glass. Both basic and complete processing solutions were successfully tested to reduce contaminants, with the complete solution achieving 100% compliance in the first stage. The silica sand demonstrated a purity of 99.7% SiO2, with iron content reduced from 24 ppm (raw) to 14 ppm (basic treatment) and 8 ppm (complete treatment). This confirmation testing is a key deliverable for the ongoing bankable feasibility study (BFS) of Homerun's planned antimony-free solar glass plant in Latin America. The COO, Armando Farhate, stated that these results confirm initial expectations and provide a competitive edge.

This news is a positive step in Homerun's vertically integrated strategy but falls into the "Routine - Positive" category rather than "Material." Here's why:

• Confirmation of Prior Expectations: Just two days prior, on December 9, 2025, Homerun announced "exceptional results" from comprehensive metallurgical testing by Dorfner Anzaplan GmbH, confirming the silica's high SiO2 content (99.9694%) and low impurities (as low as 92 ppm after non-HF purification). That release already stated the silica "qualifies for premium applications including solar glass (Fe < 70 ppm required, achieved 0.34-1.4 ppm)." The current news provides confirmation from a second independent firm (MIE) that the silica is suitable for antimony-free solar glass, with iron content reaching 8 ppm after complete treatment, which is well within the required specifications for solar glass.
• Execution of Announced Plan: The engagement of MIE for this specific confirmation testing was announced on November 18, 2025, explicitly as a "key deliverable" for the bankable feasibility study. The positive results indicate successful execution of this planned step.
• De-risking, Not Game-Changing: While the MIE results further de-risk the technical aspect of producing solar glass from the Santa Maria Eterna silica, they do not introduce new information that substantially alters the company's valuation or strategic direction beyond what was already established by the earlier, highly positive Dorfner Anzaplan results. The market had already been informed of the superior quality and suitability of the silica.
• Financial Context: The company recently closed a $6M financing (2025-12-08) with an institutional investor (Sorbie Bornholm LP) and reported an oversubscribed $3M private placement (2025-10-24), indicating capital is flowing. This technical validation supports the use of these funds for project development. However, the overall financial health (low cash, negative working capital as of Sep 30, 2025) and the massive capital expenditures required for the solar glass plant (estimated €150M) mean that incremental positive technical news, while good, needs to be followed by substantial commercial and financial milestones to have a material impact on the stock price.

In summary, the news is a strong affirmation of the quality of Homerun's silica and competent project execution, reinforcing the company's long-term vision. However, it is an expected progression in the BFS timeline and solidifies, rather than dramatically changing, previous positive technical assessments.

Homerun Resources Inc. (HMR) is a Canadian company with a strategic focus on becoming a vertically integrated materials leader in green energy solutions. Its business model spans raw material extraction, advanced materials processing, and energy technology applications.

Key Business Segments: 1. High-Purity Silica and Advanced Materials: * Flagship Project: The Belmonte Silica Sand District (Santa Maria Eterna project) in Bahia, Brazil. This project contains a NI 43-101 compliant Mineral Resource Estimate of 25.56 million tonnes (Measured) and 38.35 million tonnes (Inferred) of high-purity silica sand (>99.6% SiO2 after washing). The company aims to leverage this resource to supply the growing demand for high-quality silica in various industries. * Solar Glass Manufacturing: The primary application for the Belmonte silica is to feed Latin America's first dedicated antimony-free solar glass manufacturing facility, with a planned capacity of 1,000 tonnes per day (365,000 tonnes per year). The project is currently undergoing a Bankable Feasibility Study (BFS) by DTEC Engineering (expected Q1 2026). * Other Silica Projects: The Canindé Project in Northeast Brazil focuses on high-purity quartz lumps for the silicon industry. An exclusive evaluation agreement is also in place for the Spruce Pine Silica Project in North Carolina, USA, a globally significant HPQ district. * Advanced Materials R&D: Collaboration with UC Davis for femtosecond laser purification of silica (achieving >99.999% SiO2) and synthesis of Silicon Carbide (SiC) using Brazilian silica and graphite. 2. Homerun Energy Solutions: This segment, operating through its subsidiary Homerun Energy (formerly Halocell Europe SRL), focuses on: * Perovskite Photovoltaic Technology: Licensing of perovskite PV and other patent rights from Halocell Energy (Australia), with a direct investment in Halocell Energy. * AI Energy Management System ("The Hub"): An AI-powered platform for energy management, optimization, and trading, with its first commercial installation announced. * Long-Duration Energy Storage (LDES): Partnership with the U.S. Department of Energy's National Renewable Energy Laboratory (NREL) for the Enduring LDES system, including intellectual property agreements and patent filings. * Alternative Energy Sales & Distribution: Through its 60% owned subsidiary SeisSolar Fotovoltaica, distributing alternative energy solutions in Southern Europe and North Africa (cumulative revenue >€70M 2022-2024).

Homerun's strategy is to control the full value chain from raw material to high-value-added products, aiming to become a key player in the global energy transition.