Homeland Nickel Secures Plan of Operation for Red Flat Nickel Project
News related to:Homeland Nickel Inc · 2 min read
Homeland Nickel Inc., a Canadian-based mineral exploration company, has announced several updates regarding its exploration plans and corporate activities. The company’s Plan of Operation for a sonic drill program at the Red Flat Nickel Project has been accepted by the United States Forest Service (USFS). The revised OpPlan for the Cleopatra Nickel Project is expected to be submitted next week for USFS acceptance.
According to the company, the acceptance of the Plan of Operation brings them closer to initiating the sonic drill program, which is expected to commence in October, subject to crew availability. The company also plans to recompile previous data at both Red Flat and Cleopatra to produce updated Mineral Resource Estimates without the need for additional field work. These reports will help accelerate the Company’s plans for an Initial Assessment Report at Cleopatra in SK-1300 format, which is in compliance with the United States Securities and Exchange Commission’s (SEC) disclosure requirements. Additionally, the company intends to produce a Preliminary Economic Assessment at Red Flat to NI 43-101 format, suitable for filing within the Canadian regulatory system.
The company has also completed a non-brokered private placement financing of 8,000,000 units of the Company at a price of C$0.38 per Unit, raising aggregate gross proceeds of C$3,040,000. Each Unit consists of one common share and one half of one (0.5) Common Share purchase warrant, with an exercise price of C$0.50 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 fund property payment obligations and exploration activities at its mineral exploration projects and for general corporate purposes.
The company disclosed that certain directors and officers acquired an aggregate of 465,098 Units under the Financing, constituting a "related party transaction" under Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions. The company 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.
In other news, Homeland Nickel Inc. has engaged the services of AI Power Marketing Ltd. (AIPM), a company affiliated with ML Global Group, for media services. Pursuant to an advertising and media production agreement dated September 15, 2026, AIPM received a one-time fee of C$20,000, plus applicable taxes. The agreement is for the creation of a video interview with Stephen Balch, President & CEO of Homeland Nickel Inc., which will be distributed on YouTube.com/MidasLetter, Substack at midasletter.substack.com, various Midas Letter social accounts, and Google Adwords.
The company’s common shares trade on the TSX Venture Exchange under the symbol “SHL” and on the OTCQB as SRCGF with DTC Eligibility. For further information, contact Stephen Balch, President & CEO, at 905-407-9586 or email [email protected]. Qualified Person 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.