Homeland Nickel Provides Exploration and Corporate Update
Homeland Nickel Provides Exploration and Corporate Update
Toronto, Ontario – April 07, 2025 – Homeland Nickel Inc. (“Homeland Nickel” or the “Company”)
(TSX-V: SHL, OTC: SRCGF) is pleased to provide an exploration update on its 30% owned Great Burnt
Copper and South Pond Gold Properties that are in joint venture with Benton Resources Inc. (“Benton”) as
well as its majority-owned nickel properties located in Southern Oregon.
Great Burnt Copper, Newfoundland
Benton continues to intersect high-grade copper within the Great Burnt Main Zone and has discovered a
second parallel zone (the Footwall Zone) reporting higher grades of gold. For example, hole GB-24-49
intersected 22.0 metres of 7.47% copper (Cu) at 220 metres (m) downhole within the Main Zone and 9.5
m of 0.35% Cu and 0.94 g/t gold (Au) starting at 425 m downhole within the Footwall Zone. Significant
intersections from the 2023-2024 exploration programs by Benton into the Great Burnt Main Zone are
summarized in Table 1. Based on a long section (Figure 1) the Main Zone has been extended along strike
by 400 m and remains open down plunge to the south. The newly discovered Footwall Zone is also open.
• GB-23-02: 13.00 m of 8.31% Cu, incl 3.00 m of 12.80% Cu
• GB-23-04: 26.87 m of 7.18% Cu, incl 11.16 m of 10.28% Cu
• GB-23-07: 12.30 m of 7.20% Cu, incl 7.00 m 10.60% Cu
• GB-23-12: 25.42 m of 5.51% Cu, incl 1.00 m of 8.77% Cu, 82.00g/t Ag, 4.43g/t Au
• GB-23-15: 22.59 m of 5.03% Cu, incl 0.50 m of 20.00% Cu
• GB-23-16: 13.67 m of 5.80% Cu, incl 1.00 m of 20.60% Cu
• GB-23-18: 8.17 m of 4.22% Cu, incl 7.05 m of 4.11% Cu
• GB-23-21: 24.00 m of 5.81% Cu, incl 7.00 m of 11.47% Cu
• GB-23-22: 21.68 m of 3.59% Cu, incl 2.00 m of 15.3% Cu
• GB-24-23: 7.00 m of 2.02% Cu, incl 4.00 m of 3.01% Cu
• GB-24-32: 11.29 m of 3.10% Cu, incl 6.63 m of 5.57% Cu
• GB-24-33: 20.92 m of 2.26% Cu, incl 2.98 m of 4.17% Cu
• GB-24-37: 18.10 m of 1.99% Cu, incl 4.50 m of 7.24% Cu
• GB-24-40: 3.59 m of 3.47% Cu, incl 1.00 m of 4.52% Cu
• GB-24-43: 3.73 m of 3.22% Cu
• GB-24-45: 22.8 m of 1.23% Cu, incl 3.8 m of 2.21% Cu
• GB-24-49: 22.0 m of 7.47% Cu, incl 15.0 m of 10.02% Cu
Note: True widths are estimated to be 70% of the above reported core lengths
Table 1 - Significant 2024 drill intersec6ons into the Great Burnt Main Zone.
Figure 1 - Long sec6on of the Great Burnt (Main) Copper Zone.
South Pond Gold, Newfoundland
Benton conducted a drill program during 2024 encountering thick sections of gold mineralization including
54.50 m of 1.88 g/t Au in hole SP-24-32. Drilling will continue in 2025 with a 15,000 m program planned
to expand the shallow mineralization at depth and along strike. Significant intersections are summarized in
Table 2 with the assays from three drillholes still pending.
Note: Actual widths of the mineralization are unknown currently
Table 2 - Core length intersec6ons of gold in South Pond Gold Zone.
Red Flat Property, Oregon
Previous exploration at Red Flat in 2007-2008 identified a historical nickel resource of 10.4 Mt at 0.84%
Ni of measured and indicated plus 8.3 Mt at 0.80% Ni of inferred for a total of 317 million pounds of
contained nickel using a 0.7% Ni-cutoff (AJR Consulting Inc., 2009). The resource is not compliant with
NI 43-101 standards as it was not published prior to the property being acquired by Homeland Nickel.
During July 2024, Homeland Nickel visited the property with the Forest Service to review road access and
to locate up to 50 sonic drillhole locations for a future exploration program. The property is road accessible
across its entire length via a well-maintained gravel road with several unmaintained trails extending across
the property to provide excellent overall access. Of historical significance was the presence of several large
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trenches (see Figure 2) that are thought to have been excavated during the 1950s by the United States
Government (possibly the United States Geological Survey) where nickel laterite was exposed for vertical
thicknesses up to 15 ft.
A total of forty-four (44) sonic drillhole locations were spotted and photographed and a subsequent Plan of
Operation has been submitted to the Forest Service for approval. The purpose of this drill program is to
determine the vertical extent of the nickel laterite along both a north-south and east-west corridor in an area
with good road access. A bulk sample program is also planned whereby Homeland Nickel will excavate
approximately 2,000 pounds of nickel laterite across the various exposed trenches using pickaxes and
shovels to minimize the amount of surface disturbance. This material will be subject to mineralogy and
metallurgy reviews as well as to determine if the nickel can be removed in-situ.
Cleopatra Property, Oregon
Cleopatra has a historical resource (not NI 43-101 compliant) of 19.803 Mt of 0.94% Ni in the measured
and indicated categories as well as 19.671 Mt of 0.92% Ni in the inferred category for a total of 733 million
pounds of contained nickel. The Company visited the property in 2024 and discovered that while the
property could be accessed directly by four-wheel drive truck, access within the property was mostly limited
to quad-runners. Homeland Nickel has proposed a sonic-hole program consisting of up to 16 shallow holes
each drilled to a maximum depth of 50 feet. A Plan of Operation was submitted to the US Forest Service in
August 2024 for approval.
Eight Dollar Mountain, Oregon
The Eight Dollar Mountain Property (“Eight Dollar”) is located west of the town of Selma, Oregon and is
directly accessible by road. Nickel laterite is evident at surface across much of the property. A sampling
program is scheduled for 2025 to obtain several undisturbed samples of nickel laterite for assaying
(approximately 500 g per sample). Historic exploration at Eight Dollar has confirmed nickel laterite over a
very wide area of variable grade. Homeland Nickel staked 115 mining claims in 2024 totalling 2,376 ac
and has a 100% interest in the property.
Shamrock Property, Oregon
The Shamrock Property (“Shamrock”) consists of 40 mining claims totalling 758 ac, and is located 20 miles
northwest of Medford, Oregon. Access is via a local gravel road extending into the property from a paved
highway to within a few hundred meters of the historical workings and was visited by Homeland Nickel in
August 2024. An exploration program at Shamrock is planned for 2025 to relocate the historical workings
and sample local outcrops. The property was explored in 1952-53 and a bulk sample of 200-lb was removed
which assayed 1.3% Ni, 1.1% Cu and 0.03 oz/t Pt. High-grade manganese was also removed and processed
with assays returning 23.1-32.3% Mn. Shamrock is considered a high-grade nickel sulphide prospect, 100%
owned by Homeland Nickel.
Corporate Update
Homeland Nickel continues to own a significant amount of Canada Nickel Company Inc. (TSXV: CNC)
and Benton (TSXV: BEX) shares. With the recent announcement by Benton of a lithium spin-out (Vinland
Lithium Inc., see Benton’s news release dated January 16, 2025) and dividend of shares to existing Benton
shareholders, Homeland Nickel will benefit from its share holding of 12,682,000 BEX common shares,
approximately 6.5% of Benton’s issued common shares. These spin-out shares will be held by the Company
for investment purposes.
The Company has submitted a Plan of Operation for both Red Flat and Cleopatra to the US Forest Service
and is expecting for a mid-spring 2025 field program. As part of the Plan of Operation, Homeland Nickel
must show that its mining claims have been in good standing since 2014 and that each mining claim to be
explored has prior indication of economic minerals present prior to a 2015 withdraw order which now limits
exploration to existing staked prospects.
Figure 2 - Excavated trench at Red Flat revealing nickel laterite at surface.
Qualified Person
Stephen J. Balch, P .Geo. (ON), the Company’s President and CEO and a “Qualified Person” under National
Instrument 43-101, has reviewed and approved the technical content of this press release.
About Homeland Nickel
Homeland Nickel is a Canadian-based mineral exploration company focused on critical metal resources
with nickel projects in Oregon, United States and copper and gold projects in Newfoundland, Canada. The
Company holds a significant portfolio of mining securities including 2.692 million shares of Canada Nickel
Company Inc. (TSX-V: CNC), 9.960 million shares of Noble Mineral Exploration Inc. (TSX-V: NOB),
12.682 million shares of Benton Resources Inc. (TSX-V: BEX) and 2.761 million shares of Magna Terra
Minerals Inc. (TSX-V: MTT). 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
Neither TSX V enture Exchange nor its Regulation Services Provider (as that term is defined in the policies
of the TSX V enture Exchange) accepts responsibility for the adequacy or accuracy of this news release. No
stock exchange, securities commission or other regulatory authority has approved or disapproved the
information contained herein.
This news release contains statements that constitute “forward -looking statements”. Forward-looking
statements are statements that are not historical facts and include, but are not limited to, disclosure regarding
possible events, that are based on assumptions and courses of action, and in certain cases, can be identified
by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential”
and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur, or
the negative forms of any of these words and other similar expressions. Forward-looking statements include
statements related to future plans for the Company, and other forward -looking information. Forward-
looking statements are based on various assumptions including with respect to the anticipated actions of
securities regulators, stock exchanges, and government entities, management plans and timelines, as well
as results of operations, performance, business prospects and opportunities. Although the forward-looking
statements contained in this news release are based upon what the management of the Company believes
are reasonable assumptions on the date of this news release, such assumptions may prove to be incorrect.
Forward-looking statements involve known and unknown risks and uncertainties, they should not be read
as guarantees of future performance or results, and they will not necessarily be accurate indications of
whether such results will be achieved. A number of factors could cause actual results, performance or
achievements to differ materially from the results discussed in the forward-looking statements, including,
but not limited to: an inability to develop and successfully implement exploration strategies; general
business, economic, competitive, political and social uncertainties; the lack of available capital; impact of
the evolving situation in Ukraine on the business of the Company; and other risks detailed from time-to-
time in the Company’s ongoing filings with securities regulatory authorities, which filings can be found at
www.sedarplus.ca. The Company cannot assure readers that actual results will be consistent with these
forward-looking statements. Readers are cautioned not to place undue reliance on forward -looking
statements in this press release. These forward-looking statements are made as of the date of this news
release and the Company disclaims any intent or obligation to update any forward -looking statement,
whether because of new information, future events or otherwise, unless otherwise required by law.
Contact
Stephen Balch, President & CEO
Phone: 905-407-9586
Email: [email protected]