Mr. Stephen Balch reports

REVISED: HOMELAND PROVIDES EXPLORATION AND CORPORATE UPDATE

Homeland Nickel Inc.'s previously submitted plan of operation for a sonic drill program at the Red Flat nickel project has been accepted by the U.S. Forest Service. The OpPlan will proceed to the NEPA (environmental) evaluation and cultural review, both of which are well under way (including completion of fieldwork). The revised OpPlan for the Cleopatra nickel project is expected to be submitted next week for acceptance by the USFS.

Homeland also announces that it has completed a recompilation of previous data at both Red Flat and Cleopatra to the satisfaction of its qualified person, who will produce an updated mineral resource estimate without the need to conduct additional fieldwork or to reproduce a portion of the original auger hole drilling. These reports will substantially accelerate the company's plans for an initial assessment report at Cleopatra in SK-1300 format in compliance with the U.S. Securities and Exchange Commission's disclosure requirements and a preliminary economic assessment at Red Flat to National Instrument 43-101 format, suitable for filing within the Canadian regulatory system.

Commenting on these recent events, president and chief executive officer Steve Balch said: "The acceptance of our plan of operation by the Forest Service brings us much closer to our sonic drill program, and we are hopeful we can complete this program in October subject to crew availability. We can issue new mineral resource estimates for both Cleopatra and Red Flat as we were able to locate all the historical data and have integrated it into a searchable database. While we don't expect much difference to the original work, the SK-1300 format report for Cleopatra will help Patriot Nickel in their upcoming listing on a U.S. exchange. Once the reports are available, both Homeland and Patriot will proceed with preliminary economic assessments of Red Flat and Cleopatra. We expect one or both reports to be completed during Q4 2026, roughly a year ahead of schedule. This is why we renegotiated the NSR and milestone payments with RAB Capital. We were able to issue an equivalent value of our common stock in place of the milestone cash payments and acquired all NSR rights in the process."

Financing update

Homeland also announces that, further to the news releases dated Aug. 26, 2026, and Sept. 14, 2026, it has closed its previously announced non-brokered private placement financing of eight million units of the company at a price of 38 cents per unit for aggregate gross proceeds to the company of $3.04-million.

Each unit is composed of one common share of the company and one-half of one common share purchase warrant. Each warrant entitles the holder to purchase one common share at an exercise price of 50 cents per warrant share for a period of 24 months following the closing of the financing.

The company intends to use the net proceeds of the financing to finance property payment obligations and exploration activities at the company's mineral exploration projects and for general corporate purposes.

The closing of the financing is subject to the receipt of all necessary regulatory approvals, including the final approval of the TSX Venture Exchange. All securities issued and issuable pursuant to the financing are subject to a four-month-plus-one-day hold period commencing on the date of issuance. No finders' fees, commissions or other compensation were paid or are payable in connection with the financing.

Certain directors and officers acquired an aggregate of 465,098 units under the financing. The participation of insiders in the financing constitutes a related-party transaction within the meaning of Multilateral Instrument 61-101 (Protection of Minority Security Holders in Special Transactions). The corporation is relying on exemptions from the formal valuation and minority shareholder approval requirements applicable to related-party transactions under sections 5.5(a) and 5.7(1)(a), respectively, of MI 61-101 as neither the fair market value of the securities acquired by the participating insiders, nor the consideration paid by the insiders exceeds 25 per cent of the corporation's market capitalization (as determined under MI 61-101). The corporation did not file a material change report related to the insiders' subscriptions more than 21 days before the closing of the financing as required by MI 61-101 as the subscriptions by the insiders were uncertain at that time and the corporation wished to close the financing on an expedited basis for sound business reasons.

Marketing update

Homeland has engaged the services of AI Power Marketing Ltd., a company affiliated with ML Global Group (owner and publisher of Midas Letter), for media services. Pursuant to an advertising and media production agreement dated Sept. 15, 2026, AIPM received a one-time fee of $20,000, plus applicable taxes. The agreement is for the creation of a video interview with Stephen Balch, president and chief executive officer of Homeland Nickel, which will be distributed on YouTub/MidasLetter, Substack, various Midas Letter social accounts and Google Adwords.

There are no performance factors contained in the agreement, and no stock options or other forms of equity compensation have been granted in connection with the engagement. AIPM is an arm's-length party to the company. AIPM and its employees and affiliates may acquire an interest in the securities of the company in the future in the ordinary course of business.

AIPM's advertising business activities are intended to provide information to market participants who are seeking information on Canadian publicly traded companies in the natural resource sector.

About Homeland Nickel Inc.

Homeland Nickel is a Canadian-based mineral exploration company focused on critical metal resources with nine nickel projects in Oregon, United States, including two with historical resources. The Cleopatra property alone contains a historical resource of approximately 40 million tonnes of laterite grading 0.93 per cent nickel, making it the largest historical undeveloped nickel resource in the continental United States. Homeland Nickel's common shares trade on the TSX Venture Exchange under the symbol SHL and on the OTCQB as SRCGF with DTC eligibility.

Qualified person

Mr. Balch, PGeo (Ontario), the company's president and chief executive officer, a qualified person under National Instrument 43-101, has reviewed and approved the technical content of this news release.

We seek Safe Harbor.