11:45 AM EDT, 09/12/2025 (MT Newswires) -- Homerun Resources ( HMRFF ) , up 4.3% at last look, said Friday it signed a binding letter of intent with Brazilian company Pedreiras to acquire rights to the Pedreiras mining tenement in the Santa Maria Eterna Silica Sand District in Brazil.

The deal will be settled with $1.2 million in Homerun shares and $200,000 in share purchase warrants exercisable at $1.00 each.

Homerun said the acquisition, its third in the district, consolidates control over a target resource exceeding 200 million tonnes, including a current NI 43-101 mineral resource estimate of 63 million tonnes. The three deals together total $2.1 million.

"This marks a major milestone for Homerun. With district control we are positioned to unlock the full potential of Santa Maria Eterna. Our team has delivered this consolidation with minimal capital, laying the foundation for significant value creation as we advance towards production," said chief executive Brian Leeners.

Homerun shares are up $0.04 at $0.97 on the TSX Venture Exchange.

Price: 0.97, Change: +0.04, Percent Change: +4.30