Homeland Precious Metals Corp.
OTC Bulletin Board : HPMEF

Homeland Precious Metals Corp.

April 04, 2006 16:03 ET

Homeland Precious Metals Corp. Completes Compilation of Historic Data

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - April 4, 2006) - Homeland Precious Metals Corp. (OTCBB:HPMEF) has completed its compilation of historic data for the Montgomery Pass property situated within the Walker Lane structural belt in western Nevada. This belt hosts such significant deposits as the Goldfield District with 5.9 million ounces of gold production and reserves at the south end and the Comstock District with historic production of 8.4 million ounces of gold and 193.5 million ounces of silver produced from the north end. Walker Lane is also home to the giant Round Mountain gold deposit mined by Barrick and Kinross, and estimated to be in excess of 10 million ounces of gold.

The Montgomery Pass gold-silver property consists of 1620 acres (approximately 2.5 square miles) in Mineral County, Nevada. Montgomery contains 8 separate epithermal gold and silver targets hosted within a sequence of Tertiary volcanic and Paleozoic sediment rocks. These targets have been identified through past exploration programs initiated by Transwestern Mining Incorporated, Duval Mining Corporation, Phelps Dodge Mining Company, Hemlo Gold Mines Incorporated, North Mining Limited, and Primero Industries Incorporated.

HPMEF has compiled a database from the previous work on the property comprising over 650 rock chip samples, 100 soil samples and 65 shallow drill holes combined with geologic mapping of surface and underground workings. Compilation of these historic exploration efforts within a GIS (geographic information system) framework identified ore grade gold and silver values occurring in surface sampling and shallow, wide-spaced drilling. Five of the eight target areas have had modest drill testing. The resulting compilation of surface, underground and drilling results clearly indicates that further expansion of detailed exploration at Montgomery Pass is warranted.

The following tables list drill intercepts with significant values (greater than 0.01 opt over a minimum 5 foot thickness) from the five partially tested targets.



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Hound Dog Target
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Hole Number Gold Grade Intercept Thickness Depth to Intercept
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89-4 0.056 opt 5 feet 25 feet
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89-10 0.011 opt 5 feet 45 feet
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89-11 0.022 opt 130 feet 155 feet
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90-19 0.016 opt 5 feet 265 feet
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90-20 0.026 opt 5 feet 65 feet
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97-8 which 0.280 opt 15 feet 305 feet
includes 0.470 opt 5 feet
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South Ridge Target
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Hole Number Gold Grade Intercept Thickness Depth to Intercept
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84-6 which 0.011 opt 65 feet 45 feet
includes 0.017 opt 30 feet
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Underground
sampling 0.060 opt 80 feet 145 feet in adit
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97-13 0.015 opt 5 feet 230 feet
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QC Vein Target
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Hole Number Gold Grade Intercept Thickness Depth to Intercept
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97-4 0.057 opt 95 feet 0 feet
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Select samples 0.51 opt Grab samples surface
0.27 opt
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Range Front Target
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Hole Number Gold Grade Intercept Thickness Depth to Intercept
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83-1 0.015 opt 6 feet 11 feet
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83-5 0.011 opt 18 feet 0 feet
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83-6 0.044 opt 36 feet 0 feet
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83-10 0.016 opt 15 feet 0 feet
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83-15 0.011 opt 15 feet 0 feet
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83-16 0.029 opt 20 feet 0 feet
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83-30 0.026 opt 10 feet 0 feet
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89-15 0.010 opt 20 feet 15 feet
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89-16 0.026 opt 30 feet 0 feet
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Hg Hill Target
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Hole Number Gold Grade Intercept Thickness Depth to Intercept
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83-17 0.015 opt 20 feet 0 feet
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83-22 0.010 opt 30 feet 90 feet
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97-2 0.015 opt 5 feet 25 feet
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Three targets at Montgomery Pass have been identified predominantly by surface sampling only, and are as follows:

Breccia Target

The Breccia Target hosts silver values in variably altered marble and breccia. Surface and underground sampling returned values to 38 opt silver and 0.03 opt gold. The average silver value for all samples collected in the Breccia Target area is over 6 opt. A single shallow drill hole within the Breccia zone (hole 97-15) intersected 60 feet of anomalous gold and silver.

Wild Horse Flat Target

The Wild Horse Flat area contains gold and silver-bearing quartz veins, capped by mercury occurrences hosted in a paleo hot springs environment. No drilling has been completed on this portion of the property. Mercury values up to 0.10% and gold values to 0.033 opt have been obtained from outcrops in the area.

MAG Target

The MAG Target hosts magnetite-gold mineralization at the contact between Cambrian limestone and Tertiary dacite. Values to 0.04 opt gold have been collected from a zone of massive magnetite. No drilling has been completed in this area.

HPMEF has already received permit approval for a multi-hole drill program on the Montgomery Pass project. Scheduling is currently underway for the equipment necessary to undertake this work program, and drilling will commence as soon as equipment and weather conditions permit.

The Montgomery Pass Project represents an exciting, under-explored epithermal precious metals property with indications of high-grade precious metal values similar to the Comstock and Goldfield mining districts.

"Montgomery Pass provides Homeland with excellent potential for additional discoveries of high-grade gold and silver within one of the most prolific and concentrated gold trends in the world," said Bruce Johnstone, President and CEO, "and we continue to evaluate other gold and silver properties in Nevada in an effort to increase Company value for our shareholders."

Disclaimer: This announcement may contain forward-looking statements which involve risks and uncertainties that include, among others, limited operating history, limited access to operating capital, factors detailed in the accuracy of geological and geophysical results including drilling and assay reports; the ability to close the acquisition of mineral exploration properties, and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. More information is included in Homeland Precious Metals Corp. filings with the Securities and Exchange Commission, and may be accessed through the SEC's web site at http://www.sec.gov.


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