Homeland Closes Skull Creek Project Acquisition

Executive Summary

• Homeland Uranium Corp. completed its acquisition of the Skull Creek Uranium Project from Hightest Resources for US$300,000 cash plus 750,000 common shares.
• The transaction gives Homeland a 100 % interest in 154 mining claims and one state exploration permit covering the Cross Bones uranium deposit, adjacent to its flagship Coyote Basin project.
• Hightest retains a 2 % NSR royalty (1.5 % on SEP lands) with optional reduction to 1 % upon a US$1.5 M additional payment before commercial production; further contingent cash and share payments are tied to future uranium resource thresholds (≥10 Mt U₃O₈ and ≥30 Mt U₃O₈).

Key Details

• Purchase Price: US$300,000 cash + 750,000 Homeland common shares.
• Royalty Structure:
• 2 % NSR on all production (1.5 % on State‑administered lands).
• Royalty may be reduced to 1 % if Homeland pays an additional US$1.5 M before notifying Hightest of intent to commence commercial production.
• Contingent Payments:
• If ≥10 Mt U₃O₈ defined, additional US$250,000 cash + US$250,000 in shares (based on 10‑day VWAP).
• If ≥30 Mt U₃O₈ defined, total contingent payment rises to US$500,000 cash + US$500,000 in shares (including any prior payments).
• Pro‑rata scaling applies for resources between 10 Mt and 30 Mt U₃O₈.
• Property Description: 154 mining claims on BLM land plus one state exploration permit; located ~33 km west of the Coyote Basin project in Moffat & Rio Blanco Counties, Colorado.
• Strategic Rationale: Provides operational synergies with Coyote Basin, expands Homeland’s land package, and positions the company for accelerated domestic uranium supply development.
• Qualified Person: Roger Lemaitre, President & CEO (P.Eng., P.Geo.), reviewed and approved technical content.

Notable Quotes

“The addition of the Cross Bones Uranium Deposit on the Skull Creek Property is a tremendously exciting acquisition for Homeland… we anticipate Skull Creek providing significant potential operational synergies with Coyote Basin…” – Roger Lemaitre, President & CEO, Homeland Uranium Corp.