Homerun Resources Inc. has entered into a letter agreement with The Land & Mineral Company (LMC) of Charlotte, North Carolina, to conduct an exclusive evaluation of LMC’s silica project located in Spruce Pine, North Carolina. The agreement, signed May 7, grants Homerun a 90-day exclusivity period to assess the project's potential.

The agreement outlines the mutual understanding between the parties regarding the terms of the evaluation, including validation of prior sampling and testing performed by LMC’s consultants. During this period, Homerun will carry out additional sampling, assaying and advanced thermoelectric purification testing at the University of California, Davis.

Homerun plans to apply femtosecond laser purification techniques at UC Davis, a method that previously yielded notable results for the company. This technology increased the silica purity of raw sand from its Belmonte project in Bahia, Brazil, to 99.999% SiO2. It also improved the quartz purity from the Tatooine project in British Columbia from 87.76% SiO2 to 96.67% SiO2. Testing on the Tatooine sample indicated that using a more powerful laser system could further enhance impurity removal, thermal energy transfer and processing efficiency.

Upon a successful evaluation, both companies intend to pursue a mutually beneficial development agreement for the project.

The Spruce Pine Silica Project is located in the heart of the Spruce Pine Mining District, one of the world’s premier sources of high-purity quartz. The site lies 3.2 kilometers from Sibelco’s operations and 8.1 kilometers from The Quartz Corp’s facilities. The district supplies an estimated 70 to 90 percent of the world’s high-purity quartz, which is essential for semiconductor manufacturing and solar photovoltaic production.

High-purity quartz from the region is used to produce fused silica crucibles employed in the Czochralski process — the standard technique for creating monocrystalline silicon ingots. These ingots are a foundational component of the semiconductor industry. Operating at temperatures over 1,400 degrees Celsius, fused quartz crucibles resist reactions with molten silicon, preserving structural integrity and reducing impurity transfer. Each crucible can cost thousands of dollars and typically lasts around 400 hours. Crucibles also represent approximately 30% of the cost of producing silicon ingots.

While synthetic quartz alternatives are available, their costs are five to 10 times higher than natural quartz, making them commercially impractical for large-scale production.

Homerun is a vertically integrated materials company driving innovation in green energy through advanced silica technologies. Positioned as a rising global player in high-purity quartz (HPQ) development outside of China, the company manages the entire value chain—from raw material extraction to next-generation applications in solar, battery, and energy storage technologies.