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 May 20(th), 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. This is the first well in Phase-1 wells planned for drilling at Liberty Ridge. All eight targets in Phase-1 were selected based on positive indications and analytics from a proprietary 3-D seismic survey conducted by the operating partner over the last 18 months. Drilling dates for the remaining seven prospects in Phase-1 will be announced when confirmed by Homeland's operating partner.

Homeland Resources Ltd. reported Phase-1 of the proposed drilling program at the Liberty Ridge Project located in Southern Oklahoma. Homeland and its partners have isolated an initial eight prospects that will represent Phase-1 of the Liberty Ridge drilling program. These prospects are the first of many new wells planned to be drilled at the project over the next several months. All eight prospects in Phase-1 have been sufficiently analyzed and determined to be high-grade targets. The initial drilling date for the first well in Phase-1 is expected to be announced within the next 7 to 10 days. Drilling is expected to continue throughout all of 2013. At the completion of the Phase-1 drilling, and once the economic viability of the Phase-1 wells have been evaluated, Homeland and its partners intend to determine to what extent additional development wells could be required to fully exploit any new oil and gas discoveries. This could potentially increase the total number of wells drilled at Phase-1 prospects.

Homeland Resources Ltd. announced that it has confirmed and secured an interest in 34 initial prospects at its Liberty Ridge Drilling Project located in south-central Oklahoma. The overall scale of the Liberty Ridge Project is large (approximately 83,043 acres or 130 square miles) and there is long a history of significant oil and gas production across the region. The strategic purpose of the 3D seismic program was to locate numerous new oil fields across the entire land position and fully exploit the proprietary data to develop new discoveries. The geological and geophysical evaluation of the 3D seismic data has allowed Homeland and its partners to identify and subsequently secure 34 initial prospects at the Liberty Ridge Project. At present, each prospect represents a future potential drill site. After a period of evaluation, each successful and economically viable well could potentially warrant one or more additional development wells to fully exploit the prospect.