Homeland Uranium Inc.

Homeland Uranium Inc.

April 28, 2008 17:00 ET

Homeland Uranium Elects Not to Proceed With Units Financing

TORONTO, ONTARIO--(Marketwire - April 28, 2008) - Homeland Uranium Inc. ("Homeland" or the "Company") announced today that it has elected not to proceed with its proposed Units offering, pursuant to its final prospectus dated February 11, 2008, and to postpone the listing of its common shares on the TSX Venture Exchange for the time being. The Company has determined that conditions in the capital markets for uranium equities are not favourable for a successful listing on a major Canadian stock exchange at this time.

Homeland Uranium remains well financed with more than $15.5 million in treasury and has budgets in place to drill in excess of 30,000 metres in 2008 on its U.S and Niger uranium projects. The company is also reviewing acquisition opportunities for advanced stage uranium deposits.

"Unlike the majority of junior uranium exploration companies, Homeland Uranium is in an enviable position with a large cash treasury and an experienced technical team managing our global uranium exploration and development programs," Nick Tintor, President and CEO, said. "We also remain committed to pursuing mergers and acquisition opportunities in this market in order to maximize shareholder value, including a successful listing on a major Canadian exchange at the appropriate time," he added.

Homeland Uranium

Homeland Uranium is a natural resource company engaged in the acquisition and exploration of uranium mineral properties. The Company's current main emphasis is on exploration for uranium in the Arlit region of Niger, where the Company has an interest in the Agelal Project and the Asekra Project, which include eight exploration concessions covering an area of approximately 3,731 square kilometres within the Tim-Merso? Basin. The Company also is exploring for uranium in the Uravan belt in the states of Colorado and Utah, United States, where the Company holds rights to 10 exploration properties, namely, Big Indian, Wray Mesa, Deremo West in Utah, and Norma Jean, Slickrock, CNX, Dry Creek, Vex, Tex and Atkinson Mesa in Colorado.

This news release may contain forward-looking statements based on assumptions and judgments of management regarding future events or results. Such statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking statements.

No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

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