Homeland Resources Ltd. is providing this brief update regarding the drill program currently being undertaken by the Company and its partners at the Liberty Ridge oil and gas project in Oklahoma.

As of Monday, May 20th, after six days of drilling, the initial well at Liberty Ridge has reached a depth of 3,415 feet and has encountered no significant mechanical difficulties. The projected depth of the initial Liberty Ridge well is targeted for 5,650 feet. Drilling of the initial well is expected to take several weeks to reach total depth.

The Company would like to provide an update regarding the recent storm and tornado activity that affected Oklahoma in recent days. Fortunately, the storm has in no way impacted the drilling process, and the program continues uninterrupted.

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