Homeland Uranium Inc.

Homeland Uranium Inc.

February 24, 2010 17:08 ET

Homeland Uranium Inc. Identifies Significant New Uranium Targets in Niger

TORONTO, ONTARIO--(Marketwire - Feb. 24, 2010) - Homeland Uranium Inc., ("Homeland" or the "Company") is pleased to announce that its ongoing exploration work in Niger has resulted in the delineation of several significant multi-parameter target areas.

Homeland, through its wholly-owned Niger subsidiary company, Uranium International Limited – Niger, controls eight contiguous licenses in two license blocks known as Agelal and Asekra for a total of 3,730 square kilometers. The licenses are located toward the eastern edge of the Tim Mersoi Basin, immediately west of the Arlit fault and Areva's Somair and Cominak uranium mining complexes in and around the city of Arlit.

Several surveys were completed over the past two years, including airborne magnetics and radiometrics over the Asekra block, along with radon cup, mobile metal ion ("MMI") over both license blocks, limited ground radiometrics and geological mapping and satellite imagery acquired and processed over the entire property and surrounding area. Additionally, over 90 historical drill holes were geographically registered, digitized and incorporated into the company's data base.

The most significant multi-parameter anomaly, Asekra Target One, has been delineated on the Asekra concession. This target area strikes for more than 20 kilometres and is up to 8 kilometres in width, and comprises a large stratabound anomaly cluster within an uplifted, fault-bounded block of Tchirezrine II Formation rocks at surface and in shallow subcrop. This is the same stratigraphic unit that hosts Areva's giant Imouraren uranium deposit, currently under construction, located 30 kilometers to the east-southeast of Target One.

The target is defined by coincident radon anomalies, MMI including uranium, molybdenum and other pathfinder element anomalies along with a pronounced airborne radiometric anomaly coincident with the northern block-bounding fault.

There is no evidence of any prior work such as drilling or sampling ever having been conducted over this target area.

Management believes that this combination of coincident geochemical and geophysical anomalies overlying key uranium host geology and structure, and covering such an extensive area, renders this target area quite significant.

Homeland's generative work has also led to the delineation of four additional target areas that warrant follow up work. The next most significant, Asekra Target Two, is located 50 kilometres south of Asekra Target One (also on the Asekra concessions). This target area is somewhat narrower, up to 3-5 kilometres wide and at least 20 kilometres long, characterized by coincident radon and MMI anomaly clusters in turn coincident with a pronounced airborne radiometric anomaly that runs the full width of the southernmost Asekra license along the lineament fault. Shallow Cretaceous rocks overlie Upper Jurassic Tchirezrine II rocks in this area, which lies roughly 30 kilometres north of the Chinese owned and operated Abkorum uranium deposit, which occurs along a similar, parallel west-southwest trending fault.

The delineation of these targets, both individually and collectively, marks a major step forward in Homeland's progress in Niger toward discovery, particularly in the first three target areas where there is no historical record of any previous exploration and where the targets are both large and multi-parameter in two out of the three cases.

Follow up field programs to map and sample these areas at surface are currently in the final planning stages, along with a first phase drill program to test the numerous discrete drill targets that will be generated from this work.

Homeland can also report that following the removal of Niger's President Mamadou Tandja from government last February 18th by the Nigerien military and their committee, The Supreme Council for the Restoration of Democracy in Niger, the Company's offices remain open and staff are working and operating in Niger as before. All government agencies are open and functioning normally.

Additional results will be released as they become available.

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.

The technical information contained in this press release related to the above described exploration activities is reported and verified by Avrom Howard, P.Geo., Homeland's Vice President – Exploration, who is a qualified person as defined by NI 43-101.

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

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