SOURCE: Homeland Resources Ltd.

April 15, 2011 16:35 ET

Homeland Resources Completes 50% Liberty Ridge Seismic Shoot

ALBUQUERQUE, NM--(Marketwire - Apr 15, 2011) - Homeland Resources Ltd. (OTCQB: HMLA) (OTCBB: HMLA) is pleased to report that the large-scale 3D seismic program currently underway at the Liberty Ridge Project in Southern Oklahoma is now ahead of schedule and has already reached 50% completion. As a result, the Company has commenced with a project development strategy and drill site selection for high-priority target areas.

Efficient processing and digital modeling of the early stage 3D seismic data from Liberty Ridge suggests many high-priority locations. The development strategy going forward will be to these drill select targets areas in five well increments as soon as possible. The company expects to confirm the initial target area shortly and subsequently confirm drill dates.

The Company anticipates that the Liberty Ridge seismic shoot will result in a minimum of 50 new drill locations across the significant 130 square mile parcel, and the possibility of recovering upwards of 5 million barrels of oil. The strategic purpose of the 3D seismic program is to locate numerous new oil fields across the entire land position and fully exploit the proprietary data to develop the new discoveries.

"The Company is pleased with the early stage 3D seismic data from Liberty Ridge," says Armando Garcia, President of Homeland Resources. "The data suggests many promising, and high-priority drill locations that Homeland and its partners seek to develop in the coming months."

3D seismic greatly enhances the geologist's and geophysicist's ability to identify structural features and closures and then pinpoint drill locations. Based on the results of the analogous periphery fields at Liberty Ridge, it is reasonable to assume that these closures will produce oil with recoveries in excess of 600 barrels of oil per acre foot with initial production in excess of 200 hundred barrels of oil per well/per day.

About Homeland Resources

Homeland Resources is an expanding exploration and production company focused on developing North American and international oil and natural gas reserves. The Company's current focus is on the continued exploration and development of its land portfolio comprised of working interests in the Smoky Hill Project (5% interest), and working interest in the Liberty Ridge 3-D Seismic Project (5% interest). Homeland Resources is seeking to further develop its existing projects and to expand its portfolio to include additional interests in North America.

Statements which are not historical facts are forward-looking statements. The Company makes forward-looking public statements concerning its expected future operations, performance and other developments. Such forward-looking statements are necessarily estimates reflecting the Company's best judgment based upon current information and involve a number of risks and uncertainties, and there can be no assurance that other factors will not affect the accuracy of such forward-looking statements. It is impossible to identify all such factors but they include and are not limited to the existence of underground deposits of commercial quantities of oil and gas; cessation or delays in exploration because of mechanical, operating, financial or other problems; capital expenditures that are higher than anticipated; or exploration opportunities being fewer than currently anticipated. The Company has no official gas or oil reserves at this time and may not have sufficient funding to thoroughly explore, drill or develop its properties. Factors which could cause actual results to differ materially from those estimated by the Company include, but are not limited to, government regulation, managing and maintaining growth, the effect of adverse publicity, litigation, competition and other factors which may be identified from time to time in the Company's public announcements and filings.

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