Homeland Precious Metals Corp. (OTCBB:HPMEF) is pleased to report that its previously announced Gradient Array Induced Polarization ("IP") geophysical survey covering approximately 3.6 square kilometers of the Water Canyon Project ("Water Canyon") is scheduled to begin in early June.

Water Canyon is located adjacent to Newmont’s Mule Canyon Mine Properties in the world renowned Battle Mountain-Eureka Mineral Trend of north-central Nevada.  The property consists 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.  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.

Homeland is also pleased to report that it has begun the process of soliciting bids for the Phase 1 reverse circulation drill program that will follow the IP geophysical survey.  The Phase 1 drill program is planned for later this year.

"The scheduled work program at Water Canyon is progressing as planned." Said Bruce Johnstone, President and CEO of Homeland Precious Metals. "We're eager to see what the IP survey will show us, so we can get to the drilling phase as soon as possible."

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 differ 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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