Homeland Nickel Inc. Advances Red Flat and Cleopatra Projects with USFS Approval and Successful Financing

Toronto, Ontario — September 17, 2026 — Leads & Copy — Homeland Nickel Inc. (TSXV: SHL; OTCQB: SRCGF) has announced significant progress at its Red Flat and Cleopatra Nickel Projects in Oregon, United States, following the acceptance of its Plan of Operation by the United States Forest Service (USFS) for a sonic drill program at Red Flat. The plan will now move to environmental evaluation and cultural review, processes that are already underway with fieldwork completed.

The company also plans to submit a revised Plan of Operation for its Cleopatra Nickel Project to the USFS next week.

Homeland Nickel has completed a comprehensive recompilation of historical data for both projects. This effort has satisfied the company's Qualified Person, who will now produce an updated Mineral Resource Estimate. This consolidation of data means additional field work or reproduction of original auger hole drilling will not be necessary, significantly accelerating the timeline for key project reports. These reports are crucial for the company's strategic plans, including an Initial Assessment Report for Cleopatra in SK-1300 format, compliant with U.S. Securities and Exchange Commission (SEC) disclosure requirements, and a Preliminary Economic Assessment for Red Flat in NI 43-101 format, suitable for Canadian regulatory filings.

President and CEO Steve Balch expressed optimism about the USFS acceptance of the Plan of Operation, stating it brings the company closer to commencing its sonic drill program, with hopes of completing it in October, contingent on crew availability. He highlighted the successful integration of all historical data into a searchable database, enabling the issuance of new Mineral Resource Estimates for both projects. Balch noted that while significant changes to the original work are not expected, the SK-1300 format report for Cleopatra will be instrumental for Patriot Nickel's upcoming U.S. exchange listing. Following the release of these reports, both Homeland and Patriot will advance with preliminary economic assessments of Red Flat and Cleopatra, respectively. These assessments are anticipated to be completed in Q4 2026, approximately a year ahead of schedule. This accelerated timeline led to a renegotiation of Net Smelter Return (NSR) and milestone payments with RAB Capital, resulting in Homeland issuing its common stock in lieu of cash payments and acquiring all NSR rights.

In a financing update, Homeland Nickel announced the successful closing of its previously announced non-brokered private placement. The offering raised gross proceeds of C$3,040,000 through the sale of 8,000,000 units at C$0.38 per unit. Each unit consists of one common share and one-half of a common share purchase warrant. Each whole warrant grants the holder the right to purchase an additional common share at C$0.50 for a period of 24 months following the closing. The company intends to allocate the net proceeds from this financing towards property payment obligations, exploration activities at its mineral projects, and general corporate purposes. The closing is subject to regulatory approvals, including final acceptance from the TSX Venture Exchange. All securities issued are subject to a standard hold period. No finder's fees or commissions were paid in connection with this financing. Certain directors and officers participated in the financing by acquiring an aggregate of 465,098 units, a transaction relying on exemptions from formal valuation and minority shareholder approval requirements under MI 61-101 due to its size relative to the company's market capitalization.

Homeland Nickel has also engaged AI Power Marketing Ltd. (AIPM) for media services, including the creation of a video interview with CEO Stephen Balch for distribution across various online platforms. AIPM is an affiliated company of ML Global Group and received a fee of C$20,000 plus applicable taxes for this agreement. AIPM is an arm's length party to the Company.

Homeland Nickel is a Canadian-based mineral exploration company focused on critical metal resources. The company holds nine nickel projects in Oregon, including two with historical resources. The Cleopatra Property alone features a historical resource of approximately 40 Mt of laterite grading 0.93% nickel, representing the largest historical undeveloped nickel resource in the continental United States. Homeland Nickel's common shares are traded on the TSX Venture Exchange under the symbol “SHL” and on the OTCQB as SRCGF.

Source: Homeland Nickel Inc.