Homeland And Westwin Sign Binding Offtake Agreement At Red Flat
Toronto, Ontario**,** September 28, 2026 **-TheNewswire–** Homeland Nickel Inc. **(TSXV: SHL; OTCQB: SRCGF) (“Homeland” or the “Company”)**is pleased to announce the signing of a binding offtake agreement (**the “Offtake Agreement”**) with Westwin Elements Inc. (**“Westwin”**) at the Red Flat Nickel Project**(“Red Flat”**).
The Offtake Agreement establishes Westwin's first mine direct, domestic source of nickel for its future phased full-scale refinery, complementing the company's existing long-term supply agreements. The Offtake Agreement would provide Westwin with an estimated 20,000 tonnes of nickel concentrate per year, mined and concentrated by Homeland from its Red Flat Property located in Southern Oregon. Homeland will complete its updated Mineral Resource Estimate (MRE) and a Preliminary Economic Analysis (PEA) and Westwin, once satisfied with the PEA results, will entirely fund a Bankable Feasibility Study (BFS) including permitting, drilling, environmental assessment and a more detailed economic analysis.This agreement or any other future definitive agreement between Homeland and Westwin is not intended to replace, modify or otherwise affect Westwin’s existing feedstock relationships or arrangements with third parties.
Commenting on the Offtake Agreement, Homeland President and CEO Steve Balch said: “We still have a long way to go before we are mining at Red Flat. Our updated MRE is underway and does not require more permitting or drilling to complete. The same goes for the PEA. We expect to provide Westwin with these reports in Q1 or Q2 of 2027. Westwin will have 90 days to review the reports and start their BFS.”
“This agreement is an important step towards establishing a secure, fully domestic nickel supply chain.” said Westwin founder and CEO Kaleigh Long. “By connecting future nickel production from Homeland’s Red Flat Property in Oregon with Westwin’s U.S. refining capacity, we can turn American resources into high-purity nickel that our nation’s manufacturers and defense industrial base depend on.”
Homeland and Westwin had previously signed a non-binding Memorandum of Understanding (the**“MOU”**) (see news release May 14, 2026) and Homeland CEO Steve Balch and Patriot Nickel Corp. (**“Patriot”**) CEO Jeffrey Strobel subsequently visited Westwin’s pilot plant in Lawton, Oklahoma. Since that time, Homeland and Westwin have been looking for ways to cooperate to ensure Westwin has a domestic source of nickel for its planned full-scale refinery. While Westwin will have an exclusive offtake for Red Flat, it can also benefit from offtake agreements from Homeland’s other properties.
**About the Red Flat Nickel Property**
The Red Flat Nickel Property is located 15 km southeast of Gold Beach, Oregon and consists of 84 lode mining claims totaling 2,015 acres. Red Flat can be accessed from coastal Highway 101, east on Hunter Creek Road and onto Forest Service Road 3680. Local road systems allow access to most of the property.
Red Flat has a historical resource of 18.8 million tons grading 0.84% nickel including 10.4 million tons of Measured and Indicated Resource grading 0.88% nickel. Garnierite is present on the property, and the nickel grade of the rock component is slightly higher than that of the soil with the Measured Resource of Rock grading 1.05% nickel (over 2.3 million tons). The Resource cut-off grade is 0.7% nickel. Not previously disclosed in the historical resource is a significant component of cobalt which was assayed in the original 2007-2009 exploration work but never disclosed.
Red Flat is located on Federal land administered by the Bureau of Land Management (BLM) with permits to access the property with heavy machinery required by the United States Forest Service (USFS).Additional permits from the Department of Geology and Mineral Industries (DOGAMI) are required when drilling deeper than 50 feet or disturbing more than 1 acre.
**About** Westwin Elements Inc.
Westwin Elements is scaling America’s only Class 1 nickel refinery, delivering high-purity Class 1 nickel and specialized nickel products for national security and industrial applications. Using carbonyl refining technology, Westwin is driving critical mineral independence and reshaping the future of sustainable metal refining.
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