TSX.V-Listed Co. Has a Significant Historical Uranium-Vanadium Resource Base

1. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Homeland Uranium Corp. and  Uranium Energy Corp.
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Homeland Uranium Corp. (HLU:TSX.V) began trading on the TSX.V Venture Exchange at the opening yesterday, March 12, in place of its previously named Valleyview Resources Ltd. (VVR:TSX.V). This debut comes after the company's now-completed reverse takeover of Shift Rare Metals Inc., a news release noted.

"Homeland emerges from this transaction as a resourceful America-focused uranium explorer and developer that is well financed and guided by an exceptional and experienced board and management team," Roger Lemaitre, its president and chief executive officer, said in the release. The name of the company was changed to better reflect its current business.

The reverse merger was done by way of a three-cornered statutory amalgamation, with former Shift shareholders receiving 15.5 million (15.5M) common shares of Homeland on closing.

Each of the previously issued 53,688,300 subscription receipts of Shift were automatically exchanged for one common share of Homeland and one-half of a common share purchase warrant. Each warrant is exercisable for one additional common share of Homeland at CA$0.50 each until March 7, 2027.

Homeland directors and officers were granted an aggregate of 3.5M incentive stock options.

Growing Its Uranium Resource

Homeland Uranium aims to become a premier U.S.-focused, uranium resource-bearing company. Already it has two uranium projects it acquired for US$0.154 per pound through its acquisition of Shift, according to Homeland's March 2025 Corporate Presentation. They are Coyote Basin and Red Wash, located in northern Colorado, close to its border with Utah.

Coyote Basin spans about 14,213 acres and encompasses 698 U.S. Bureau of Land Management (BLM) mineral claims and three state leases. Underlying this property are the sandstones of the Lower Wasatch and Fort Union formations. Outside of Wyoming, these formations are underexplored, but in the state is the prolific Powder River Basin, where in situ recovery (ISR) of uranium is taking place. Coyote Basin has four known host horizons, and neutron probing has shown there are more.

Already the project has a significant historical uranium-vanadium resource base, but it needs upgrading to current NI 43-101 standards. This could result in a resource of 35,000,000 pounds of U3O8 at 0.20%, the presentation noted. Coyote Basin remains open at depth, and additional exploration potential exists elsewhere on the property.

Red Wash is comprised of 700 BLM mineral claims and two Colorado state leases covering 35 kilometers along the northern limb of the Red Wash syncline. Beneath are the Mancos Shale and Sego Sandstone formations.

These two projects are in the U.S., a country focused on developing domestic production and supply. U.S. Representative John McGuire introduced a bill on Feb. 27 mandating that uranium be added to the United States Geological Survey's critical minerals list, it was announced in a news release. This classification would unlock federal funding and accelerate the permitting of U.S. projects, purported OilPrice.com on Feb. 5.

Domestic production accounts for only about 5% of U.S. uranium; the country imports the rest primarily from Canada, Australia, Kazakhstan, Uzbekistan, and, previously, Russia. Uranium imports from Russia have been limited in accordance with the mandate in H.R. 1042, enacted last year. This law also provided for US$2.7 billion of funds to support efforts under the existing Nuclear Fuel Security Act of 2023, aimed at increasing domestic supplies of uranium.

Uranium recovery at Homeland Uranium's Colorado projects could potentially be done via heap leaching with ion exchange, a prospect the company will look into, it noted in its corporate presentation. Were it possible, the process could be done on-site at Homeland's projects or even at one of the several ISR operations in Wyoming.

Coyote Basin and Red Wash are between three fully licensed conventional uranium mills, Energy Fuels Inc.'s (EFR:TSX; UUUU:NYSE.American) White Mesa Mill, Anfield Energy Inc.'s (AEC.TSX.V; ANLDF:OTCMKTS) Shootaring Canyon Mill and Uranium Energy Corp.'s (UEC:NYSE.American) Sweetwater Mill.

Along with advancing these two projects, Homeland intends to expand its uranium resource base through additional acquisitions. The company has a non-uranium third asset, an ownership stake in the Fraser Lake gold-silver-copper project in British Columbia.

Homeland's leadership team and board are made up of high-caliber individuals well-known and savvy in the mining sector and capital markets, among them Eugene McBurney, Ross McElroy, Paul Matysek, and Dr. Andrew Tunks. The president and chief executive officer is Roger Lemaitre, an engineer and geologist with more than three decades of experience in both junior and senior mining companies. Among his achievements are doubling UEX Corp.'s uranium resources and selling the company at a 72% premium to market.

Uranium Outlook Strong

The long-term outlook for the global uranium market is strong, driven by increasing demand and a persistent supply deficit, according to experts.

"The global uranium bull market is still intact on long-term fundamentals," noted the March 10 Sprott Uranium Report. "At about US$65 per pound (US$65/lb), uranium's current spot price weakness presents a potentially attractive entry opportunity for investors who can weather near-term turbulence."

Demand for uranium is increasing. BMO Capital Markets Analyst Alexander Pearce expects uranium demand to see about a 2.9% compound annual growth rate to 2035, he wrote in a December report. According to the World Nuclear Association, uranium demand from nuclear reactors is expected to climb 28% by 2030 and almost double by 2040, noted OilPrice.com.

A CarbonCredits.com Feb. 19 article pointed out four drivers of uranium demand growth: an escalating focus on nuclear energy, a persisting uranium undersupply, geopolitical shifts, and energy policies. A newer area of demand is from tech giants, including Google, Amazo,n and Oracle, to power artificial intelligence data centers, reported ANS Nuclear Café on March 5.

Regarding supply, the uranium mining sector suffered from a prolonged period of underfunding since the Fukushima nuclear accident in 2011, and as mines were placed on care and maintenance, a 2024 Sprott Special Report explained. Meanwhile, the uranium price was dropping to its trough in 2016 of less than US$20/lb. As higher-cost mines were shuttered, utilities resorted to existing stockpiles to meet energy generation needs, which greatly reduced these inventories. During this period, uranium exploration, development, and production activities were largely curtailed.

The increasing reliance on nuclear power around the world, against a backdrop of chronic undersupply, led to the current structural deficit, Sprott purported.

"We continue to expect the market to be in a modest deficit out to 2029, supporting higher uranium prices," Pearce wrote.

Experts predict the spot uranium price will climb to US$90–100/lb pound by midyear, according to CarbonCredits.com.

The Catalyst: Drill Program

Next for Homeland Uranium is a drill campaign at Coyote Basin once it completes planning and permitting, the company said. It is well cashed up for this work, having recently raised CA$16.1M.

Drilling is being done to increase and upgrade the project's historical resource to today's technical standards, Homeland noted on its website, "which should help the market properly value the company amongst our U.S. peer companies."

Ownership and Share Structure

According to Refinitiv, 18.21% of the company's stock is held by management and insiders.

3.33% is with strategic investors.

The rest is with retail.

Homeland Uranium has 18.85M shares outstanding, 1.25M options outstanding, and 435,000 warrants outstanding, according to the company.