Homeland Nickel Inc V.SHL

New High Grade Gold Mineralization

[royalton]

PRESS RELEASE 2010 - 6 October 20, 2010

Spruce Ridge Resources Discovers ization atNew High Grade Gold Mineralization

the Kramer Property, Western Newfoundland

NORFOLK COUNTY, Ontario - Spruce Ridge Resources Ltd. ("Spruce Ridge”) (SHL :TSXV) is

pleased to announce that trenching at the Kramer Zone has discovered several new zones of high

grade intrusion hosted gold mineralization at the 100% owned Kramer Property, located in western

Newfoundland. Highlights include:

• Additional high grade veining returning up to 45.16 g/t Au over a 1.0 metre channel at the

newly discovered Whiskey Jack zone;

• Widespread low grade mineralization associated with higher grade veins return average

of 1.90 g/t Au from 21 channel samples at Whiskey Jack;

• Mineralized area including high grade veining and associated lower grade halo now

established over an area measuring a minimum of 400 metres in length and 100 metres

in width and remains open;

• New discoveries lie less than 500 metres from Northern Abitibi’s Thor trend and less than

200 metres from Northern Abitibi’s new Asgard trend.

In addition to the Whiskey Jack discoveries, extensions to the 2009 trenches completed in the original

Kramer zone area encountered additional precious metal rich quartz veining associated with multiple,

north to northeast trending, fine grained phases of the host Precambrian intrusion. The high grade

Kramer vein has now been exposed and sampled over a 70 metre length and includes saw cut channel

sample assays up to 32.10 g/t Au and 31.79 g/t Au over 0.18 metre lengths respectively.

The newly discovered Whiskey Jack vein, located about 100 metres southeast of Kramer, returned

channel samples up to 45.16 grams per tonne gold (g/t Au) over 1.0 metres from base metal rich

quartz veining associated with fine grained and mineralized intrusive. At least three zones of fine

grained mineralized intrusive up to 10 metres in apparent thickness and of unknown strike length were

exposed in association with the high grade Whiskey Jack vein. The fine grained zones all returned

significant gold values including; 1.90 g/t Au average from 21 random 0.50 metre long saw cut

channel samples ranging from 0.189 g/t Au to a maximum of 6.11 g/t Au; and a second zone

returned an average of 2.98 g/t Au from 14 random 0.50 metre long saw cut channel samples

ranging from 0.153 g/t Au to 11.19 g/t Au.

The Whiskey Jack discovery lies less than 500 metres northeast of Northern Abitibi’s Thor discovery

where numerous high grade zones have been encountered in drilling and where an initial NI43-101

resource estimate is underway. Northern Abitibi also announced in June, 2010, the discovery of a new

trend called the Asgard which lies less than 200 metres west of Spruce Ridge’s newly discovered

Whiskey Jack zone.

John Ryan, President and CEO of Spruce Ridge states; “We are extremely pleased with the results to

date which suggests the Kramer and adjacent Northern Abitibi properties represent a potentially very

large and contiguous area of gold mineralization. Our trenching and limited sampling to date at Kramer

supports our belief that several significant gold deposits may be clustered in the immediate area and

that we have only just scratched the surface.”

2010 Sampling Highlights

Area Channel Rock Au (g/t)

Quartzite Trench 1.50 metres Quartzite 3.14

Quartzite Trench 1.30 metres Quartzite 3.51

Kramer Main Vein 1.28 metres Quartz vein + wall rock 4.63

Kramer Main Vein Ext. 2.15 metres Gneissic intrusive 4.66

Kramer Main Vein Ext. 0.58 metres Quartz vein +wall rock 10.97

Whiskey Jack 1.00 metres Quartz vein 45.16

Discovery Trench 0.65 metres Quartz vein 3.75

The work to date has outlined a significant zone of altered and mineralized intrusive rock hosting

multiple high grade precious metal veins as well as associated lower grade haloes suggesting potential

for a bulk tonnage gold deposit similar to the neighboring Viking property under advanced exploration

by Northern Abitibi.

Spruce Ridge will continue to work in the immediate area of the new discoveries and additional

sampling results will follow in the coming weeks. It also plans to begin a diamond drilling program later

this year.

About Spruce Ridge Resources

Spruce Ridge Resources is focused on exploring the Kramer gold property in western Newfoundland.

It also has 3 gold properties in the Beardmore-Geraldton greenstone belt of northwestern Ontario.

Spruce Ridge has made a substantial investment in RX Exploration inc., which is developing the

Drumlummon gold mine in Montana. Spruce Ridge owns 7,500,000 shares of RX Exploration (RXE)

and 7,500,000 warrants with an exercise price of
.60 per share with an expiry date of June 30, 2011.

Technical information in this news release has been compiled and reviewed by Timothy Froude, P.

Geo.,a Qualified Person as defined in NI-43-101. Analyses reported in this news release were

performed at Accurassay Laboratories in Thunder Bay, Ontario. Sample prep work including drying and

crushing were performed at the Accurassay prep facility in Gambo, Newfoundland with pulps shipped to

Thunder Bay for analysis by fire assay on 30-gram splits.

For further information please contact:

John Ryan, President & CEO

Spruce Ridge Resources Ltd.

Phone: [phone]

Email: [e-mail]

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news

release.