Mr. Stephen Balch reports

HOMELAND NICKEL AND BRAZILIAN NICKEL TO JOINTLY DEVELOP NICKEL LATERITE PROPERTIES IN OREGON

Homeland Nickel Inc. has entered into a preliminary agreement with Brazilian Nickel Ltd. to jointly advance the financing and development of nickel laterite properties owned by Homeland Nickel in the state of Oregon.

The two companies signed a memorandum of understanding (MOU), under which they will jointly seek development financing from state and private entities, and work together on the technical advancement of the properties beyond exploration.

Homeland Nickel holds rights to four nickel laterite properties located in southwestern Oregon, known as Red Flat, Cleopatra, Woodcock Mountain and Eight-Dollar Mountain. The company is actively advancing the development of the properties through a series of geological drilling programs, surface sampling and technical assessments.

The two parties plan to collaborate on an exclusive basis to seek financing and leverage Brazilian Nickel's extensive expertise in laterite heap leaching technology, including through a potential joint venture, and the preparation of a coherent technical and strategic development program culminating in potential commercial production.

"Working with Brazilian Nickel will significantly enhance our ability to develop the Oregon properties into a leading source of nickel produced in the USA," said Homeland Nickel's chief executive officer Stephen Balch. "Their expertise and practical experience in processing laterite make a perfect fit with our exploration capability and the substantial nickel laterite resources we are currently developing. They have tested the nickel recoveries at both Red Flat and Cleopatra in the past with positive results."

Under the non-binding agreement, Homeland Nickel and Brazilian Nickel will co-operate in the preparation of technical studies, project development strategies, and preliminary economic and environmental assessments. Brazilian Nickel will be responsible for project studies and reports, metallurgical development, ESG (environmental, social and governance) and CO2 (carbon dioxide) reduction strategies, and compliance with applicable international standards. Homeland Nickel will be responsible for stakeholder engagement, permitting activities, geological evaluations and preparation of a mineral resource estimate.

Homeland Nickel has appointed Brazilian Nickel as its exclusive development and processing partner for the Oregon properties during the term of the agreement. Brazilian Nickel agrees not to acquire any nickel laterite properties in Oregon or California, nor enter into any discussions or establish similar development and/or processing relationships with any third party operating in those states independently of Homeland Nickel.

About Brazilian Nickel Ltd.

Brazilian Nickel is a privately held United Kingdom company established in 2013 to develop nickel laterite heap leach projects worldwide, beginning with its flagship Piaui nickel project in Brazil. The Brazilian Nickel team are all highly experienced mining industry professionals with extensive metallurgical experience in South America and worldwide. The team has been developing the low-carbon, environmentally responsible heap leaching of nickel laterites for over 20 years with a view to building a world-class nickel and cobalt producing company.

About Homeland Nickel Inc.

Homeland Nickel is a Canadian-based mineral exploration company focused on critical metal resources with nickel projects in Oregon, U.S., and copper and gold projects in Newfoundland, Canada. The company holds a significant portfolio of mining securities, including 1,995,000 shares of Canada Nickel Company Inc., 9.96 million shares of Noble Mineral Exploration Inc., 11,522,000 shares of Benton Resources Inc., 81,150 shares of Vinland Lithium Inc. and 2,761,000 shares of Magna Terra Minerals Inc. Homeland Nickel's common shares trade on the TSX Venture Exchange under the symbol SHL.

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