Homeland Closes Skull Creek Project Acquisition
Homeland Closes Skull Creek Project
Acquisition
Vancouver, British Columbia--(Newsfile Corp. - October 3, 2025) - Homeland Uranium Corp. (TSXV:
HLU) (OTCQB: HLUCF) (FSE: D3U) ("Homeland" or the "Company") is pleased to announce that it has
completed its previously announced transaction with Hightest Resources ("Hightest") to acquire the Skull
Creek Uranium Project ("Skull Creek" or 'the Property") in Moffat and Rio Blanco Counties, Colorado.
Skull Creek is located adjacent to the Company's Red Wash Project and is approximately 20 miles (33
km) west of Homeland's flagship Coyote Basin Uranium Project (see Figure 1).
For more details about
the Property and the transaction, please see the news release dated September 22, 2025 on the
Homeland website at
www.homeland-uranium.com
or on the Company's profile on SEDARplus.ca).
The Skull Creek Property is comprised of 154 mining claims all located on federal Bureau of Land
Management-administered lands and one single state exploration permit administered by the State of
Colorado (the "SEP Lands").
"The addition of the Cross Bones Uranium Deposit on the Skull Creek Property is a tremendously
exciting acquisition for Homeland. Strategically located in close proximity to our Coyote Basin Project
in mining-friendly Colorado, we anticipate Skull Creek providing significant potential operational
synergies with Coyote Basin and further strengthens our position in the district. With a dominant land
package containing two considerable historical uranium deposits with outstanding expansion
potential, Homeland is eager to start drilling at both Coyote and Skull Creek to systematically
upgrade these deposits to modern standards and become a key part of the urgently needed
resurgence of domestic uranium supply chain in the United States,"
stated Roger Lemaitre, President
& CEO of Homeland
.
As part of the transaction, Homeland paid Hightest US$300,000 cash and issued 750,000 common
shares of Homeland to acquire a 100% interest in the Property.
Hightest retains a 2% NSR royalty on all
mineral production from the Property, with the exception of production from the SEP Lands where the
royalty is reduced to 1.5%.
The royalty can be reduced to 1% should Homeland issue an additional
payment of US$1.5 million at any time before delivering to Hightest a notice of the intention to
commence commercial production from a mineral deposit located wholly or partially within the Property.
Hightest will also receive potential contingency payments based upon the size of any uranium resource
defined on the Property consistent with NI 43-101 standards in the future.
Should a mineral resource
equal to 10 million pounds U
3
O
8
be defined, Homeland will pay to Hightest an additional U.S.$250,000
in cash and the equivalent of U.S.$250,000 in common shares of Homeland based on the 10-day VWAP
immediately prior to the date that Homeland receives the technical report citing resources authored by
an independent qualified person.
Should the Mineral Resource be equal to or greater than 30 million
pounds U
3
O
8
, Homeland will pay Hightest an aggregate of U.S.$500,000 in cash and the equivalent of
U.S.$500,000 in common shares of Homeland (inclusive of any payments made and shares issued
pursuant to previous sentence).
If the Mineral Resource is between 10 million pounds and 30 million
pounds U
3
O
8
Homeland will pay to Hightest a cash payment and common shares payment determined
on a pro rata basis ranging between the 10 million pounds U
3
O
8
and 30 million pounds U
3
O
8
thresholds
as described above.
About Homeland Uranium Corp.
Homeland Uranium is a mineral exploration company focused on becoming a premier US-focused and
resource-bearing uranium explorer and developer. The Company is the 100% owner of the Coyote
Basin, Skull Creek and Red Wash uranium projects within the northern portion of the Colorado Plateau in
northwestern Colorado. The Colorado Plateau district has been a uranium-producing region of the
United States for several decades.
Qualified Person
Roger Lemaitre. P.Eng., P.Geo., the Company's President and CEO, is a Qualified Person as defined
in NI 43-101, and has reviewed and approved the technical content of this news release.
For further information, please contact:
Roger Lemaitre
President & Chief Executive Officer
Homeland Uranium Corp.
Tel: 306-713-1401
Email:
Investor Relations
Kin Communications Inc.
Tel: 604-684-6730
Email:
Cautionary Note Regarding Forward-Looking Statements
This news release contains "forward-looking statements" and "forward-looking information" (collectively,
"forward-looking statements") within the meaning of applicable securities legislation. All statements,
other than statements of historical fact, are forward-looking statements. Forward-looking statements in
this news release relate to, among other things:
the completion of the transaction, confirmation of the
historical resource estimates, the Company's expectations and strategic plans in relation to the
exploration of the Company's uranium mineral properties, including all phases of the exploration program
at the Coyote Basin and Red Wash uranium projects in Colorado, and receipt of applicable regulatory
approvals to complete the transaction as contemplated.
These forward-looking statements reflect the Company's current views with respect to future events and
are necessarily based upon a number of assumptions that, while considered reasonable by the
Company, are inherently subject to significant operational, business, economic and regulatory
uncertainties and contingencies. These assumptions include, among other things: the availability of
funds; the ability to complete the transaction; receipt of applicable regulatory approvals conditions in
general economic and financial markets; accuracy of assay results; geological interpretations from
drilling results, timing and amount of capital expenditures; performance of available laboratory and other
related services; future operating costs; future demand for energy; the historical basis for current
estimates of potential quantities and grades of target zones; the availability of skilled labour and no
labour related disruptions at any of the Company's operations; no unplanned delays or interruptions in
scheduled activities; all necessary permits, licenses and regulatory approvals for operations are
received in a timely manner; the ability to secure and maintain title and ownership to properties and the
surface rights necessary for operations; and the Company's ability to comply with environmental, health
and safety laws. The foregoing list of assumptions is not exhaustive.
The Company cautions the reader that forward-looking statements involve known and unknown risks,
uncertainties and other factors that may cause actual results and developments to differ materially from
those expressed or implied by such forward-looking statements contained in this news release and the
Company has made assumptions and estimates based on or related to many of these factors. Such
factors include, without limitation: the availability of funds; the ability to complete the transaction as
contemplated; receipt of applicable regulatory approvals; the timing and content of work programs;
results of exploration activities and development of mineral properties; receipt of applicable regulatory
approvals the interpretation and uncertainties of drilling results and other geological data; receipt,
maintenance and security of permits and mineral property titles; environmental and other regulatory risks;
project costs overruns or unanticipated costs and expenses; availability of funds; failure to delineate
potential quantities and grades of the target zones based on historical data; general market and industry
conditions; and those factors identified under the captions "Risks Factors" and "Risks and
Uncertainties" in the Company's disclosure materials filed on SEDAR+ at
www.sedarplus.ca
.
Forward-looking statements are based on the expectations and opinions of the Company's
management on the date the statements are made. The assumptions used in the preparation of such
statements, although considered reasonable at the time of preparation, may prove to be imprecise and,
as such, readers are cautioned not to place undue reliance on these forward-looking statements, which
speak only as of the date the statements were made. The Company undertakes no obligation to update
or revise any forward-looking statements included in this news release if these beliefs, estimates and
opinions or other circumstances should change, except as otherwise required by applicable law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news
release.
Figure 1: Homeland Uranium's uranium holdings in the Northern Colorado Plateau
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/10583/269005_2c34b49a2460bbef_002full.jpg
Figure 2: The location of the Skull Creek Property and the Cross Bones Uranium Deposit.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/10583/269005_2c34b49a2460bbef_003full.jpg
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/269005