Homeland Nickel to Begin Environmental Review of Cleopatra and Red Flat Properties

Toronto, Ontario — May 7, 2026 — Leads & Copy — Homeland Nickel Inc. (TSX-V:SHL, OTC: SRCGF) will conduct an environmental review of its Cleopatra and Red Flat Properties during May and early June 2026. The review will be conducted in cooperation with the US Forest Service (USFS) to satisfy NEPA requirements before issuing a Plan of Operation (Pop) to conduct sonic drilling and auger hole drilling.

A Pop was previously filed for exploration programs at Cleopatra and Red Flat. A Pop has two components: a Surface Use Determination and 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 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 conducted (planned for 2027). The Surface Use Determination has been approved for Cleopatra and is under review for Red Flat.

President and CEO Steve Balch said the company is making good progress with its permits, and is planning to be in the field this summer exploring at Cleopatra and Red Flat. Balch also noted that 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 the company is considering using a smaller drilling platform to avoid having to implement a helicopter-supported operation.

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 contains a historical resource of approximately 40 Mt of laterite grading 0.92% nickel. Homeland Nickel’s common shares trade on the TSX Venture Exchange under the symbol “SHL”.

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.

More detailed information can be found on the Company’s website.

Source: Homeland Nickel