Homeland Precious Metals Corp.
OTC Bulletin Board : HPMEF

Homeland Precious Metals Corp.

April 11, 2007 13:02 ET

Homeland Precious Metals Corp. Plans Induced Polarization Geophysical Survey for Water Canyon, Nevada

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - April 11, 2007) - Homeland Precious Metals Corp. (OTCBB:HPMEF) is pleased to announce that it has commissioned Zonge Engineering & Research Organization, Inc. to conduct a large scale Gradient Array Induced Polarization ("IP") geophysical survey covering approximately 3.6 square kilometers of the Water Canyon Project ("Water Canyon") located in the world renowned Battle Mountain-Eureka Mineral Trend/Northern Nevada Rift of north-central Nevada.

Water Canyon is located adjacent to Newmont's Mule Canyon Mine Properties and was leased from Newmont in February, 2007, by Homeland Exploration, Inc., a wholly owned subsidiary of Homeland Precious Metals Corp. ("Homeland"). Homeland's property interests consist of approximately 2,560 acres (approx. 4 sq miles) including 960 acres of private lands and 1600 acres of unpatented mining claims immediately along strike of the Mule Canyon Mine Complex.

An area that has seen prolific precious metal production since the early 1900's, the Battle Mountain-Eureka Mineral Trend and Northern Nevada Rift continue to have large-scale precious metal production and an abundance of active gold exploration programs, making it one of the leading gold producing areas in the world today. The adjacent, contiguous Mule Canyon Property produced approximately 500,000 ounces of gold from six open pits over a seven-year period. Water Canyon lies 1.5 to 3.0 miles along strike and to the north of the Mule Canyon open pits.

Homeland's IP geophysical survey will focus on identifying structurally controlled mineralization associated with north-northwesterly faults and structures within geology similar to that which was mined at Mule Canyon. Extensive geophysical work completed on nearby deposits such as Fire Creek (located 13 miles to the south-southeast and containing over 1,000,000 ounces of gold at an average grade of 0.5 ounces per ton) indicates that economic mineralization is intimately associated with structurally related IP chargeability highs.

Within the confines of the Water Canyon property, Homeland has identified numerous gold-silver targets based on previous exploration work completed by Gold Fields Mining Corporation, Santa Fe Pacific Gold Company, and Mine Finders Corporation. The targets are based upon data compilation from soil sampling, geophysical surveys, geological mapping, and wide spaced drilling. The three priority targets are en echelon faults named the Central Zone, the WC Zone and the West Zone.

One segment of the Gradient Array IP survey will cover the Central Zone. This area was explored by Gold Fields Mining Corporation and Santa Fe Pacific Gold Company who completed wide spaced Reverse Circulation drilling in the early 1990's. Earlier Dipole-Dipole IP surveys by these previous investigators provided only shallow search depths. The planned Gradient Array IP survey will center on partially drill-tested targets that returned 1 to 3.7 g/t gold (0.03 to 0.10 opt gold). The past drilling remains open to the north for 3000 feet, with no drilling to the south for 2000 feet, and no follow up over 1000 feet between gold-rich drill fences.

Homeland's preliminary field-work turned up widespread clay alteration along the southern portion of the WC Zone, located 1,500 feet west of the Central Zone. This type of alteration is consistent with the Mule Canyon and Fire Creek deposits. The Water Canyon target area adjoins the north boundary of the Mule Canyon property. This target has been sparsely explored by drilling and has had only limited IP work performed. Planned Gradient Array IP will search for IP chargeability highs associated with the clay-alteration, altered volcanic float and quartz-calcite veining.

The West Zone, adjoining the Central Zone to the south and west, represents a completely untested IP Resistivity target identified by previous exploration efforts. The geophysical features compiled from the existing data base system suggest strong similarities to the Mule Canyon ore zones. This target is associated with opaline silica alteration which can be traced for a minimum of 4000 feet in length.

"We're very excited about our upcoming exploration program at Water Canyon. The data from the Gradient Array IP survey will help with the planning of our phase one drill program set for later this year," said Bruce Johnstone, President and CEO of Homeland Precious Metals. "And with Newmont as a potential joint-venture partner at Water Canyon in the future, you just can't ask for much more than this."

Disclaimer: This announcement may contain forward-looking statements which involve risks and uncertainties. Please visit our website at www.hpmef.com to read our complete disclaimer or view the Homeland Precious Metals Corp. filings with the Securities and Exchange Commission which may be accessed through the SEC's web site at http://www.sec.gov.

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