Homeland Uranium receives approvals for Coyote drilling

Executive Summary

• Homeland Uranium’s subsidiary, Shift Exploration Inc., received BLM and Colorado DMRS approvals to begin the Phase 1 drilling program at Coyote Basin.
• The approved permit covers up to 35 reverse‑circulation holes (~17,000 ft / 5,300 m) targeting historic resource zones; full Phase 1 may involve 50–70 holes (~33,000 ft / 10,000 m).
• Drilling is slated to start around Oct. 15, enabling the company to finalize drilling contracts and move toward metallurgical testing of uranium mineralization.

Key Details

• Permit Scope: Authorization for Part 1 of Phase 1 – ~35 RC holes totaling ~17,000 ft (5,300 m).
• Overall Phase 1 Plan: 50–70 holes, ~33,000 ft (10,000 m) to evaluate the historic resource estimate.
• Location: Coyote Basin project, Moffat and Rio Blanco counties, northwestern Colorado.
• Timeline: Part 1 drilling expected to commence circa Oct. 15, 2025.
• Contractual Impact: Permit receipt allows finalization of service agreements with the preferred drilling contractor and other providers.
• Future Work: Results from Part 1 will determine placement of Part 2 holes, which will require a separate BLM/DMRS permit.
• Historical Resource Reference: Prior estimate – 8.85 M t at 0.20 % U₃O₈ and 0.10 % V₂O₅ (≈35.4 M lb U₃O₈, 17.7 M lb V₂O₅). Not treated as current mineral resources.
• Qualified Person: Nancy Normore, P.Geo., VP Exploration, reviewed and approved technical content.

Notable Quotes

“The timely receipt of our exploration permit … is a milestone that shareholders have been awaiting since the inception of company in March. We are excited to be able to kick off our maiden drill program at Coyote Basin…” – Roger Lemaitre, President & CEO, Homeland Uranium Corp.