Homerun Resources Inc. Agreement for Exclusive Evaluation of Spruce Pine Silica Project

Rhea-AI Summary

Homerun Resources Inc. (HMRFF) has signed a letter agreement with The Land & Mineral Company for an exclusive 90-day evaluation period of the Spruce Pine Silica Project in North Carolina. The project is strategically located just 3.2km from Sibelco's operations and 8.1km from The Quartz Corp in the Spruce Pine Silica Mining District, which supplies 70-90% of global high-purity quartz. The evaluation will include new sampling, assaying, and thermoelectric purification testing at UC Davis, where previous testing successfully improved SiO2 grades in other company projects. The Spruce Pine district's quartz is crucial for semiconductor and solar PV manufacturing, particularly in producing fused silica crucibles for silicon ingot production, where it represents about 30% of production costs.

Positive

• Strategic location in Spruce Pine district, which supplies 70-90% of world's high-purity quartz
• Project situated near major operators Sibelco (3.2km) and The Quartz Corp (8.1km)
• Previous successful purification testing at UC Davis showing significant SiO2 grade improvements
• Strong market position as synthetic alternatives cost 5-10 times more

Negative

• Agreement is only for evaluation with no guaranteed acquisition
• Limited 90-day evaluation window
• Further testing required to confirm project viability

News Market Reaction

+1.93%

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+1.93% News Effect

On the day this news was published, HMRFF gained 1.93%, reflecting a mild positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

Vancouver, British Columbia--(Newsfile Corp. - May 8, 2025) - Homerun Resources Inc. (TSXV: HMR) (OTCQB: HMRFF) ("Homerun" or the "Company") is pleased to announce that the Company has signed a letter agreement ("Agreement") with The Land & Mineral Company of Charlotte, North Carolina ("LMC") dated May 7, 2025, for the purpose of allowing HMR the time and access required to evaluate the potential of LMC's Spruce Pine, North Carolina Silica Project (the "Project"). This Agreement sets forth the mutual understanding and intent regarding the basic terms and conditions for the Parties to affect the evaluation during the exclusive 90-Day period, including confirmation of sampling and testing work previously completed by consultants of LMC. Upon a successful evaluation, the Parties agree to use their best efforts to achieve a mutually beneficial transaction regarding the development of the Project.

Homerun's evaluation will include new sampling and assaying and thermoelectric purification testing at the University of California, Davis. The UC Davis femtosecond laser purification has successfully improved the SiO2 grade of the Company's Belmonte, Bahia raw Silica Sand to 99.999% SiO2, as previously reported, and also the Company's Tatooine, British Columbia, raw quartz silica from 87.76% SiO2 to 96.67% SiO2. The testing on the Tatooine Sample, anticipated that deploying a higher-powered laser system would further augment impurity ablation efficiency, improve thermal energy transfer, and increase the overall rate of material processing compared to the laser configuration used during testing, thereby optimizing the quality and purity of the processed quartz silica.

Tatooine Report on Silica Quartz Lump Testing: https://homerunresources.com/wp-content/uploads/2025/05/TatooineProcessingProgressReportOnSilicaQuartzLump.pdf

Spruce Pine Silica District

The Project sits 3.2 kilometres from the silica operations of Sibelco and 8.1 kilometres from the silica operations of The Quartz Corp, in the Spruce Pine Silica Mining District. The Spruce Pine district supplies approximately 70-90% of the world's high-purity quartz, a critical material for semiconductor and solar photovoltaic manufacturing. The quartz is processed into fused silica crucibles used in the Czochralski method, the dominant method for producing monocrystalline silicon ingots. At temperatures exceeding 1400°C, molten silicon reacts with almost all materials except quartz, which maintains structural integrity while minimizing impurity transfer. Each crucible costs thousands of dollars and lasts approximately 400 hours of operation, with crucibles accounting for approximately 30% of silicon ingot production costs. While synthetic quartz alternatives exist, they cost 5-10 times more, making them economically unviable.

About Homerun (www.homerunresources.com)

Homerun (TSXV: HMR) is a vertically integrated materials leader revolutionizing green energy solutions through advanced silica technologies. As an emerging force outside of China for high-purity quartz (HPQ) silica innovation, the Company controls the full industrial vertical from raw material extraction to cutting-edge solar, battery and energy storage solutions. Our dual-engine vertical integration strategy combines:

Homerun Advanced Materials

• Utilizing Homerun's robust supply of high purity silica sand and quartz silica materials to facilitate domestic and international sales of processed silica through the development of a 120,000 tpy processing plant.
• Pioneering zero-waste thermoelectric purification and advanced materials processing technologies with University of California - Davis.

Homerun Energy Solutions

• Building Latin America's first dedicated high-efficiency, 365,000 tpy solar glass manufacturing facility and pioneering new solar technologies based on years of experience as an industry leader in developing photovoltaic technologies with a specialization in perovskite photovoltaics.
• European leader in the marketing, distribution and sales of alternative energy solutions into the commercial and industrial segments (B2B).
• Commercializing Artificial Intelligence (AI) Energy Management and Control System Solutions (hardware and software) for energy capture, energy storage and efficient energy use.
• Partnering with U.S. Dept. of Energy/NREL on the development of the Enduring long-duration energy storage system utilizing the Company's high-purity silica sand for industrial heat and electricity arbitrage and complementary silica purification.

With six profit centers built within the vertical strategy and all gaining economic advantage utilizing the Company's HPQ silica, across, solar, battery and energy storage solutions, Homerun is positioned to capitalize on high-growth global energy transition markets. The 3-phase development plan has achieved all key milestones in a timely manner, including government partnerships, scalable logistical market access, and breakthrough IP in advanced materials processing and energy solutions.

Homerun maintains an uncompromising commitment to ESG principles, deploying the cleanest and most sustainable production technologies across all operations while benefiting the people in the communities where the Company operates. As we advance revenue generation and vertical integration in 2025, the Company continues to deliver shareholder value through strategic execution within the unstoppable global energy transition.

On behalf of the Board of Directors of
Homerun Resources Inc.

"Brian Leeners"

Brian Leeners, CEO & Director
brianleeners@gmail.com / +1 604-862-4184 (WhatsApp)

FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE

The information contained herein contains "forward-looking statements" within the meaning of applicable securities legislation. Forward-looking statements relate to information that is based on assumptions of management, forecasts of future results, and estimates of amounts not yet determinable. Any statements that express predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance are not statements of historical fact and may be "forward-looking statements".

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/251283

FAQ

What is the significance of Homerun Resources' (HMRFF) Spruce Pine Silica Project agreement?

The agreement gives Homerun Resources a 90-day exclusive evaluation period of a silica project in the Spruce Pine district, which supplies 70-90% of the world's high-purity quartz used in semiconductor and solar manufacturing.

Where is the HMRFF Spruce Pine Silica Project located and why is it important?

The project is located in North Carolina, 3.2km from Sibelco and 8.1km from The Quartz Corp operations in the Spruce Pine Silica Mining District, a region crucial for producing high-purity quartz for semiconductor manufacturing.

What testing will Homerun Resources conduct at the Spruce Pine project?

Homerun will conduct new sampling, assaying, and thermoelectric purification testing at UC Davis, using femtosecond laser purification technology that has previously improved SiO2 grades in other company projects.

What is the market advantage of natural quartz from Spruce Pine district?

Natural quartz from Spruce Pine is essential for silicon ingot production and is 5-10 times cheaper than synthetic alternatives, making it economically crucial for semiconductor manufacturing.

How long is Homerun Resources' exclusive evaluation period for the Spruce Pine project?

Homerun Resources has a 90-day exclusive evaluation period to assess the potential of the Spruce Pine Silica Project.