Mr. Brian Leeners reports

HOMERUN RESOURCES INC. MEMORANDUM OF UNDERSTANDING WITH MINERALS DEVELOPMENT OMAN

Homerun Resources Inc. has executed a non-binding memorandum of understanding (MOU), dated Jan. 29, 2024, between Homerun and Minerals Development Oman SAOC (MDO).

Under the terms of the MOU, MDO and Homerun agree to jointly explore the options available to improve the quality of the quartzite available in the quartzite concessions owned by MDO, in Qurayat region in the Sultanate of Oman, through appropriate processing. While Homerun Resources will deploy its expertise in silica processing, MDO will provide financial support to execute the studies for improving the quality of the quartzite in the concession.

Under the signed MOU, the second objective is to complete a scoping study for the development of a solar glass manufacturing facility in Oman. The study's cost will be shared equally between the parties involved.

The contents of the scoping study will include, but not be limited to, the following:

• Market studies;
• Technical considerations;
• Preliminary economic assessment.

Based on the outcome of the scoping study, the parties may decide to proceed to undertake a prefeasibility and/or a definitive feasibility study on a solar glass manufacturing facility in Oman. Upon successful completion of a definitive feasibility study and obtaining internal approvals by both parties, a proposed special purpose vehicle (SPV) will be formed, and a shareholders agreement will be signed by the parties for the purpose of building and operating a solar glass production facility in Oman. The relative shareholdings of the SPV will be discussed prior to undertaking the prefeasibility study and/or the definitive feasibility study.

About Homerun Resources Inc.

Homerun Resources is focused on the development of its business within the critical and energy materials sectors. With a steadfast commitment to operational excellence, sustainability and building shareholder value, Homerun Resources is poised to make a lasting impact in these industries.

We seek Safe Harbor.