Homeland Critical Minerals updates corporate status

Calgary, Alberta--(Newsfile Corp. - August 10, 2026) - Homeland Critical Minerals Corp. ("Homeland" or the "Company") announces the completion of its acquisition of all of the issued and outstanding equity interests of MAX Power Resources LLC, a wholly-owned subsidiary of MAX Power Mining Corp. (CSE: MAXX) (OTCID: MAXXF) (FSE: 89N) (" MAX Power ") and a limited liability company existing under the laws of the State of Arizona (the " Acquisition "), pursuant to a Share Purchase Agreement dated June 5, 2026 (the " Agreement "). MAX Power Resources LLC owns a 100% interest in the Willcox Playa Lithium Project (the " Willcox Project ") located in southeast Arizona.

In consideration for the Acquisition, the Company issued to MAX Power an aggregate of 11,000,000 common shares of the Company (the " Consideration Shares ") at a deemed price of $0.10 per Consideration Share. Following the closing, MAX Power owns approximately 47.29% of the Company's issued and outstanding common shares. The Consideration Shares have an aggregate fair market value of approximately $1.1 million and the purchase price was negotiated by the parties on an arm's-length basis. The Consideration Shares are subject to applicable statutory resale restrictions. No finder's fees or commissions were payable in connection with the Acquisition.

In early 2024, MAX Power confirmed a drilling discovery of near-surface lithium-rich clays over an extensive area of the Willcox Project land package along the eastern side of the broader 50-square-mile Willcox Playa. With an improving lithium market and a U.S. administration focused on the development of critical minerals, the Company believes it is well positioned to unlock value from the Willcox Project and to pursue other potential critical mineral opportunities in the United States.

Early Warning Disclosure

Immediately prior to the completion of the Acquisition, MAX Power did not hold any shares of the Company. The Consideration Shares acquired by MAX Power upon completion of the Acquisition represent approximately 47.29% of the issued and outstanding common shares of the Company. The Consideration Shares were acquired by MAX Power for investment purposes. MAX Power may in the future acquire or dispose of common shares or other securities of the Company, through the market, privately, or otherwise, as circumstances or market conditions warrant. The disclosure in this news release is being issued in accordance with National Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting Issues in connection with the filing by MAX Power of an early warning report on www.sedarplus.ca under the Company's profile. To obtain a copy of the early warning report filed by MAX Power, please visit www.sedarplus.ca .

Shareholder Meeting

The Company announces that a special meeting of shareholders (the "Meeting") has been called to consider, among other matters, the election of a new board of directors. Further details regarding the Meeting, including the date, time and location, will be provided in due course and in accordance with applicable corporate and securities laws. The management information circular for the Meeting will be filed under the Company's profile on SEDAR+ at www.sedarplus.ca .

Executive Leadership and Board Changes

The Company announces several changes to its executive leadership team, effective immediately. Mansoor Jan has been appointed Chief Executive Officer and Jeremy Polmear has been appointed Chief Financial Officer. Additionally, Jeremy Polmear and Chad Levesque have been appointed as directors of the Company.

As part of this transition, Cameron MacDonald is stepping down as Chief Executive Officer and Scott Hurd is stepping down as Chief Financial Officer. Cameron MacDonald and Colin Christensen have also stepped down from the Board of Directors. The Company thanks each of them for their service and contributions.

Mansoor Jan, Chief Executive Officer of Homeland, commented: "The Willcox Project is a cornerstone asset for Homeland and an important first step in our strategy of acquiring and advancing critical mineral assets in the United States. We look forward to working with MAX Power, which will remain a significant shareholder of the Company, as we advance the project."

About Homeland Critical Minerals

Homeland Critical Minerals Corp. is a company focused on the acquisition and advancement of critical mineral assets in the United States. The Company owns a 100% interest in the Willcox Playa Lithium Project located in southeast Arizona, which features near-surface lithium-rich clay deposits confirmed through drilling in early 2024. Homeland is not a reporting issuer in any jurisdiction and its common shares are not listed for trading on any stock exchange.

For further information, please contact:

Mansoor Jan, CEO Homeland Critical Minerals Corp. mansoor@homelandcm.com (306) 981-4753

Cautionary Statement and Forward-Looking Information

This news release contains certain "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information in this news release includes, but is not limited to, statements regarding the future advancement of the Willcox Project; the Company's strategy of acquiring and advancing critical mineral assets in the United States; the holding of the Meeting; the election of directors at the Meeting; and the Company's future business plans and exploration activities.

Forward-looking information is based on management's current expectations and assumptions that, while considered reasonable as of the date of this news release, are inherently subject to significant business, economic and competitive uncertainties and contingencies. These assumptions include, among other things, assumptions regarding the Company's ability to advance the Willcox Project as currently contemplated; the timing and execution of the Company's exploration activities; the holding of the Meeting as currently anticipated; and the Company obtaining the requisite shareholder approval for the election of directors.

Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to differ materially from those expressed or implied by such forward-looking information. Such risks and uncertainties include, but are not limited to, risks associated with exploration, drilling and the evaluation and potential development of lithium resources; operational and technical risks; changes in commodity prices, capital markets and general economic conditions; the availability of additional financing on acceptable terms; regulatory risks; the risk that the proposed directors are not elected at the Meeting; and the other risks described in the Company's public disclosure documents.

Readers are cautioned not to place undue reliance on forward-looking information. Forward-looking information contained in this news release is made as of the date hereof, and the Company undertakes no obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/309116

Newsfile Corp.

August 10, 2026 - 3:23 PM PDT

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