SHL.V · 2026-05-07 12:00:00

Homeland Nickel Exploration Update on Oregon Nickel Properties

Toronto, Ontario – May 07, 2026 – Homeland Nickel Inc. (“Homeland” or the “Company”) (TSX-V:

SHL, OTC: SRCGF), is pleased to announce it is proceeding with an environmental review of its Cleopatra

and Red Flat Properties during May and early June 2026. The purpose of the environmental review,

conducted in cooperation with the US Forest Service (USFS) , is to satisfy NEPA requirements prior to

issuance of a Plan of Operation (Pop) to conduct sonic drilling and auger hole drilling.

A Pop was previously filed for two separate explorations programs each at Cleopatra and Red Flat for a

total of four (4) Plans of Operation. A Pop has two components, the first being a Surface Use Determination

and the second being a NEPA ( National Environmental Policy Act ) evaluation. In the first exploration

program, Homeland will drill a series of sonic holes to determine the average depth to bedrock or nickel

laterite thickness to a maximum depth of fifty (50) feet. In the second exploration program, Homeland will

redrill approximately 10% of the original exploration work that led to historical nickel resource estimates

at both Cleopatra and Red Flat. This work will be required to update the resources to a NI 43 -101 format

prior to a feasibility study being c onducted (planned for 2027). The Surface Use Determination has been

approved for Cleopatra and is under review for Red Flat.

Commenting on the progress of the permits, President and CEO Steve Balch said, “we are making good

progress with our permits, and are planning to be in the field this summer exploring at Cleopatra and Red

Flat. The road into Red Flat has been significantly upgraded because of timber logging in the area. The road

into Cleopatra is still an issue and we are considering using a smaller drill ing platform to avoid having to

implement a helicopter-supported operation.”

FOR FURTHER INFORMATION PLEASE CONTACT:

Stephen Balch, President & CEO

Phone: 905-407-9586

Qualified Person

Stephen J. Balch, P.Geo. (ON), the Company’s President and CEO and a “Qualified Person” under National

Instrument (NI) 43-101, has reviewed and approved the technical content of this news release.

About Homeland Nickel

Homeland Nickel is a Canadian -based mineral exploration company focused on critical metal resources

with nine nickel projects in Oregon, United States. The Cleopatra Property alone contains a historical

resource of approximately 40 Mt of laterite grading 0.92% nickel making it the largest undeveloped nickel

resource in the continental United states. Homeland Nickel’s common shares trade on the TSX Venture

Exchange under the symbol “SHL”. More detailed information can be found on the Company’s website at:

http://www.homelandnickel.com

Cautionary Statement

This news release may contain assumptions, estimates, and other forward -looking statements regarding

future events. Such forward-looking statements involve inherent risks and uncertainties and are subject to

factors, many of which are beyond the Company's control that may cause actual results or performance to

differ materially from those currently anticipated in such statements.

Neither the TSX V enture 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

release.