Homerun Resources Inc. announced that the company has amended its Purchase Option Agreement for the purchase, in stages, of up to a 100% interest of the Zé Manoel Copper Project, which is 9,327 hectares and located in the Goiás State of Brazil (the ZM Project). The ZM Project contains multiple copper and gold targets and the primary target, Ze Manoel, has yielded anomalous values from grab sampling, demonstrating elevated concentrations of copper (Cu) from 0.1325% to 1.141%. The Alkaline target at the ZM Project contains rare earth and niobium mineralisation, which has likely been enriched because of lateritisation in the tropical climate.

The Goias State of Brazil is home to the Serra Verde Rare Earth project. Under the Purchase Option Agreement, dated April 28, 2022, HMR had the option to reimburse the vendor for certain historical expenses incurred by the vendor and issue, in stages, a total of 12 million common shares over 4 years to the vendor for up to a 100% direct ownership in the ZM Project. The company and the vendor have amended the Purchase Option Agreement to expedite HMR's ownership of the ZM Project, by changing the payment period for the 12 million common shares.

The common shares will now be issued in their entirety upon the TSX Venture Exchange approval of the Purchase Option.