Homerun Resources Inc. Provides Second Update on Belmonte Silica District 2000m MRE Drilling Program

Vancouver, August 1, 2024 - Homerun Resources Inc. (TSXV: HMR) (OTCQB: HMRFF) ("Homerun" or the "Company") is pleased to provide a second update to the previously announced 2,000-meter auger drill program at the Belmonte high-purity silica deposit in Belmonte, Bahia, Brazil.

The program commenced on May 22nd, 2024, as scheduled. The contractor began drilling with one mechanical auger rig and one team and added a second team and mechanical auger rig on the 27^th of May. As of July 22, 140 auger holes for 1401.59 m have been completed.

Map of the auger drilling program to July 22^th, 2024

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"These MRE results are as anticipated based on our knowledge of the homogeneous nature of the high-purity silica in the Belmonte Silica Sand District. Generally, once the drill gets through the first meter of silica sand from the surface the purity typically improves and remains very consistent to total depth. Depth is limited by the physical limitations of the Auger Drill, meaning the silica sand generally continues beyond the depths drilled in this program. What provides added excitement is the fact the silica sand samples processed to 99.999%, by UC Davis were collected from the surface of our concessions," says Brian Leeners, CEO of Homerun.

The first three batches of its drillhole assays from the Project has been received from SGS Geosol in Brazil which included the following 134 assays, which includes two internal Certified Reference Materials (CRM), two duplicates and two blanks (the CRMs, duplicates and blanks all assay within 99 % of expected values and the QP accepts the SGS assay data).

Table 1: Highlight intervals from holes drilled to date on the Belmonte Project in Brazil (98 % cut-off grade). More detailed information of the assay results from the holes is set out in Table 3 below. Internal QA/QC was performed by Homerun inserting a Certified Reference Material (CRM) in every batch, (AMIS0865) which assayed within 99 % of the expected SiO2 value of the CRM. The QP therefore accepts the values of the laboratory assays. The intervals are regarded as true width.

SGS Geosol uses the ICM42Q assay method, which is performed on pure SiO2 samples. The technique includes a multi-acid (HCl, HNO3, HCLO4 and HF) digestion with ICP-OES / ICP-MS finish.

The table below present all (SiO2) (%) assay results obtained so far from the Belmonte Property.

Table 2: Silica assays from all drillholes completed to date on the Belmonte Project in Brazil. Samples taken according to visual grade estimation in one meter increments. Where visual grade was regarded as continuous, sampling was completed up to a maximum of 5 m increments. Internal QA/QC was performed by Homerun inserting a Certified Reference Material (CRM) in every batch, (AMIS0865) which assayed within 99 % of the expected SiO2 value of the CRM. The QP therefore accepts the values of the laboratory assays. The intervals are regarded as true width.

Table 3: 140 auger drill holes completed until July 22^th, 2024 for 1401.59 m on the Belmonte silica project in Brazil. All holes are drilled at -90 degrees dip (vertical).

Ultimately, the Homerun Resources Geology team aims to use the information generated by this drilling program to issue a 43-101 compliant Mineral Resource Estimate.

The drilling program is part of Homerun's commitment under its partnership with Companhia Baiana de Pesquisa Mineral (CBPM), within the scope of the 40-year lease agreement between the parties.

"The drilling program is advancing at a very good pace, and the intense integration between our field geos and QP is being crucial to deal with all events in the field. Deliverables will most certainly be achieved by this drilling program," says Armando Farhate, COO of Homerun.

Qualified Person

Nico Scholtz is a consulting geologist and has reviewed and approved the scientific and technical information in this news release. Mr. Scholtz is a registered Professional Natural Scientist with the South African Council for Natural Scientific Professions (Pr. Sci. Nat. No. 400299/07). Mr. Scholtz is the Company's "Qualified Person" as defined by NI 43-101.

About Homerun Resources (https://homerunresources.com/)

Homerun Resources is focused on the development of its business within the critical and energy materials sectors. With a steadfast commitment to operational excellence, sustainability, and building shareholder value, Homerun Resources Inc. is poised to make a lasting impact in these industries.

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

"Brian Leeners"

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