Homeland Precious Metals Corp.
OTC Bulletin Board : HPMEF

Homeland Precious Metals Corp.

January 03, 2007 13:16 ET

Homeland Precious Metals Provides Shareholder Update

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Jan. 3, 2007) - Homeland Precious Metals Corporation (OTCBB:HPMEF) is pleased to announce that development of the Company is proceeding as planned and good progress is being made on the Company's various projects, with further news expected in 2007.

The planned multi-hole reverse circulation drill program for the Montgomery Pass project commenced in the 2006 work season and progress was made despite extremely hot and dry weather conditions that hampered the amount of work that could be performed each day. The remaining holes yet to be drilled are fully permitted and ready for drilling when the next work season begins in the Spring.

The interpretation of the 2005 work season data that was collected from the 400 hole auger drill program on the Bell Flat project has also been completed, and that data along with the IP Survey that was re-interpreted by Fritz Geophysics are being compared so as to plan for a Phase 2 drill program.

The Company is also pleased to report that its due diligence on the Water Canyon project that is currently under a Letter of Intent with Newmont Mining Corporation has also been completed and Homeland is encouraged by the progress it has made in moving toward the signing of the definitive agreement with Newmont.

Located adjacent to Newmont's Mule Canyon Mine, the Water Canyon property consists of approximately 2,560 acres (4 sq. miles) which sits immediately along strike of the Mule Canyon Complex. Situated in north central Nevada, Water Canyon lies within the world renowned Battle Mountain-Eureka Trend and Northern Nevada Rift. This area has seen prolific precious metal production since the early 1900's, and large-scale precious metal production continues to this day. The adjacent Mule Canyon Complex produced approx 0.5 million ounces of gold from six open pits over a 7 year period.

When signed, Water Canyon would be the third property in the Company's portfolio of projects in Nevada, and will bring the combined land area of all properties up to a total of 4,580 acres (just over 7 square miles).

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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