| x | QUARTERLY      REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF      1934 |
|---|---------------------------------------------------------------------------------------------------|

|  ̈ | TRANSITION      REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF      1934 |
|--------|----------------------------------------------------------------------------------------------------|

| Nevada(State      or other jurisdictionOf      incorporation or organization) |   | 26-0841675(IRS      EmployerIdentification      No.) |
|-------------------------------------------------------------------------------|--------|------------------------------------------------------|

| 6801      Los Trechos NE, Albuquerque New Mexico | 87109           |
|--------------------------------------------------|-----------------|
| (Address      of principal executive offices)    | (Zip      Code) |

| Large      accelerated filer  ̈ |   | Accelerated      filer  ̈    |
|-------------------------------------|--------|----------------------------------|
| Non-accelerated      filer  ̈   |   | Smaller      reporting company x |

----

|          |   |                                                                                                                                                                                 |   | Page    |
|---------------|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|---------|
| PART      I.  |   | UNAUDITED      FINANCIAL INFORMATION                                                                                                                                                 |   |    |
|          |   |                                                                                                                                                                                 |   |    |
| Item      1.  |   | Interim      Financial Statements                                                                                                                                                    |   | 3       |
|          |   |                                                                                                                                                                                 |   |    |
|          |   | Balance      SheetsJanuary      31, 2010 (unaudited) and July 31, 2009                                                                                                               |   |  4 |
|          |   |                                                                                                                                                                                 |   |    |
|          |   | Statements      of Operations (unaudited)Three      and Six Months Ended January 31, 2010 and 2009and      Cumulative Amounts from July 8, 2003 (Inception) to January 31,      2010 |   |  5 |
|          |   |                                                                                                                                                                                 |   |    |
|          |   | Statement      of Stockholders’ Equity (Deficit) (unaudited)Cumulative      Amounts from July 8, 2003 (Inception) to January 31, 2010                                          |   | 6       |
|          |   |                                                                                                                                                                                 |   |    |
|          |   | Statements      of Cash Flows (unaudited)Six      Months Ended January 31, 2010 and 2009and      Cumulative Amounts from July 8, 2003 (Inception) to January 31,      2010           |   |  7 |
|          |   |                                                                                                                                                                                 |   |    |
|          |   | Notes      to Financial Statements (unaudited)                                                                                                                                       |   | 8       |
|          |   |                                                                                                                                                                                 |   |    |
| Item      2.  |   | Management’s      Discussion and Analysis of Financial Condition and Results of      Operations                                                                                |   | 10      |
|          |   |                                                                                                                                                                                 |   |    |
| Item      3.  |   | Quantitative      and Qualitative Disclosures About Market Risk                                                                                                                      |   | 11      |
|          |   |                                                                                                                                                                                 |   |    |
| Item      4.  |   | Controls      and Procedures                                                                                                                                                         |   | 11      |
|          |   |                                                                                                                                                                                 |   |    |
| PART      II. |   | OTHER      INFORMATION                                                                                                                                                               |   |    |
|          |   |                                                                                                                                                                                 |   |    |
| Item      1.  |   | Legal      Proceedings                                                                                                                                                               |   | 12      |
|          |   |                                                                                                                                                                                 |   |    |
| Item      1A. |   | Risk      Factors                                                                                                                                                                    |   | 12      |
|          |   |                                                                                                                                                                                 |   |    |
| Item      2.  |   | Unregistered      Sales of Equity Securities and Use of Proceeds                                                                                                                     |   | 12      |
|          |   |                                                                                                                                                                                 |   |    |
| Item      3.  |   | Defaults      Upon Senior Securities                                                                                                                                                 |   | 12      |
|          |   |                                                                                                                                                                                 |   |    |
| Item      4.  |   | Removed      and Reserved                                                                                                                                                            |   | 12      |
|          |   |                                                                                                                                                                                 |   |    |
| Item      5.  |   | Other      Information                                                                                                                                                               |   | 12      |
|          |   |                                                                                                                                                                                 |   |    |
| Item      6.  |   | Exhibit      Index                                                                                                                                                                   |   | 12      |
|          |   |                                                                                                                                                                                 |   |    |
| Signatures    |   |                                                                                                                                                                                 |   | 13      |

----

| Part      I. | UNAUDITED      FINANCIAL INFORMATION |
|--------------|--------------------------------------|

| Item      1. | Interim      Financial Statements |
|--------------|-----------------------------------|

----

|                                                                                                                               |   |                            |     |   |              |   |
|------------------------------------------------------------------------------------------------------------------------------------|--------|---------------------------------|----------|--------|-------------------|--------|
|                                                                                                                               |   | January 31,2010(Unaudited) |     |   | July 31,2009 |   |
|                                                                                                                               |   |                            |     |   |              |   |
| ASSETS                                                                                                                             |   |                            |     |   |              |   |
|                                                                                                                               |   |                            |     |   |              |   |
| Current      assets                                                                                                                |   |                            |     |   |              |   |
| Cash      and cash equivalents                                                                                                     |   | $                               | 6        |   |              | $      | 89 |   |
|                                                                                                                               |   |                            |     |   |              |   |   |   |
| Total      Current Assets                                                                                                          |   |                            | 6        |   |              |   | 89 |   |
|                                                                                                                               |   |                            |     |   |              |   |   |   |
| Mineral      property (Note 3)                                                                                                     |   |                            | 1        |   |              |   | 1 |   |
|                                                                                                                               |   |                            |     |   |              |   |   |   |
| Total      assets                                                                                                                  |   | $                               | 7        |   |              | $      | 90 |   |
|                                                                                                                               |   |                            |     |   |              |   |   |   |
| LIABILITIES      AND STOCKHOLDERS’ DEFICIT                                                                                   |   |                            |     |   |              |   |   |   |
|                                                                                                                               |   |                            |     |   |              |   |   |   |
| Current      liabilities                                                                                                           |   |                            |     |   |              |   |   |   |
| Accounts      payable and accrued liabilities                                                                                      |   | $                               | 80,048   |   |              | $      | 55,543 |   |
|                                                                                                                               |   |                            |     |   |              |   |   |   |
| Total      Current Liabilities                                                                                                     |   |                            | 80,048   |   |              |   | 55,543 |   |
|                                                                                                                               |   |                            |     |   |              |   |   |   |
| Total      liabilities                                                                                                             |   |                            | 80,048   |   |              |   | 55,543 |   |
|                                                                                                                               |   |                            |     |   |              |   |   |   |
| Stockholders’      deficit                                                                                                   |   |                            |     |   |              |   |   |   |
| Common      stock - $0.0001 par value; authorized – 750,000,000 shares Issued and      outstanding – 60,000,000 shares |   |                            | 6,000    |   |              |   | 6,000 |   |
| Paid      in capital                                                                                                               |   |                            | 24,000   |   |              |   | 24,000 |   |
| Deficit      accumulated during the development stage                                                                              |   |                            | (110,041 | )      |              |   | (85,453 | ) |
|                                                                                                                               |   |                            |     |   |              |   |   |   |
| Total      stockholders’ deficit                                                                                             |   |                            | (80,041  | )      |              |   | (55,453 | ) |
|                                                                                                                               |   |                            |     |   |              |   |   |   |
| Total      liabilities and stockholders’ deficit                                                                             |   | $                               | 7        |   |              | $      | 90 |   |

----

|                                                      |   |                                                               |       |   |                                                               |   |       |                                                             |   |   |                                                             |   |   |                                                                                     |       |
|-----------------------------------------------------------|--------|--------------------------------------------------------------------|------------|--------|--------------------------------------------------------------------|--------|------------|------------------------------------------------------------------|--------|--------|------------------------------------------------------------------|--------|--------|------------------------------------------------------------------------------------------|------------|
|                                                 |   |    Three MonthsEndedJanuary 31, 2010 |       |   |    Three MonthsEndedJanuary 31, 2009 |   |       |    Six MonthsEndedJanuary 31, 2010 |   |   |    Six MonthsEndedJanuary 31, 2009 |   |   | CumulativeAmountsFromInception onJuly 8, 2003ToJanuary 31, 2010 |       |
|                                                 |   |                                                               |       |   |                                                               |   |       |                                                             |   |   |                                                             |   |   |                                                                                     |       |
| REVENUES                                                  |   | $                                                                  | -          |   |                                                               | $      | -          |                                                             |   | $      | -                                                                |   |   | $                                                                                        | -          |   |   | $ | 387 |   |
|                                                      |   |                                                               |       |   |                                                               |   |       |                                                             |   |   |                                                             |   |   |                                                                                     |       |   |   |   |   |   |
| EXPENSES                                                  |   |                                                               |       |   |                                                               |   |       |                                                             |   |   |                                                             |   |   |                                                                                     |       |   |   |   |   |   |
| Accounting      and audit                                 |   |                                                               | 2,798      |   |                                                               |   | 1,904      |                                                             |   |   | 8,375                                                            |   |   |                                                                                     | 5,414      |   |   |   | 32,296 |   |
| General      and Administrative                           |   |                                                               | 7,619      |   |                                                               |   | 52         |                                                             |   |   | 7,744                                                            |   |   |                                                                                     | 115        |   |   |   | 22,286 |   |
| Legal                                                     |   |                                                               | 4,104      |   |                                                               |   | 2,655      |                                                             |   |   | 6,269                                                            |   |   |                                                                                     | 5,703      |   |   |   | 39,510 |   |
| Registration      and filing                              |   |                                                               | -          |   |                                                               |   | 329        |                                                             |   |   | 750                                                              |   |   |                                                                                     | 650        |   |   |   | 5,285 |   |
| Transfer      agent                                       |   |                                                               | 225        |   |                                                               |   | 145        |                                                             |   |   | 450                                                              |   |   |                                                                                     | 145        |   |   |   | 3,005 |   |
| Mineral      exploration costs                            |   |                                                               | -          |   |                                                               |   | -          |                                                             |   |   | 1,000                                                            |   |   |                                                                                     | 806        |   |   |   | 5,531 |   |
| Impairment      on mineral property (Note 3)              |   |                                                               | -          |   |                                                               |   | -          |                                                             |   |   | -                                                                |   |   |                                                                                     | -          |   |   |   | 875 |   |
| Oil      and gas property operating costs                 |   |                                                               | -          |   |                                                               |   | -          |                                                             |   |   | -                                                                |   |   |                                                                                     | -          |   |   |   | 1,310 |   |
| Loss      on disposal of oil and gas                      |   |                                                               | -          |   |                                                               |   | -          |                                                             |   |   | -                                                                |   |   |                                                                                     | -          |   |   |   | 330 |   |
|                                                      |   |                                                               |       |   |                                                               |   |       |                                                             |   |   |                                                             |   |   |                                                                                     |       |   |   |   |   |   |
|                                                      |   |                                                               | (14,746    | )      |                                                               |   | (5,085     | )                                                                |   |   | (24,588                                                          | )      |   |                                                                                     | (12,833    | ) |   |   | (110,428 | ) |
|                                                      |   |                                                               |       |   |                                                               |   |       |                                                             |   |   |                                                             |   |   |                                                                                     |       |   |   |   |   |   |
| Provision      for Income Taxes                           |   |                                                               | -          |   |                                                               |   | -          |                                                             |   |   | -                                                                |   |   |                                                                                     | -          |   |   |   | - |   |
|                                                      |   |                                                               |       |   |                                                               |   |       |                                                             |   |   |                                                             |   |   |                                                                                     |       |   |   |   |   |   |
| Net      loss                                             |   | $                                                                  | (14,746    | )      |                                                               | $      | (5,085     | )                                                                |   | $      | (24,588                                                          | )      |   | $                                                                                        | (12,833    | ) |   | $ | (110,041 | ) |
|                                                      |   |                                                               |       |   |                                                               |   |       |                                                             |   |   |                                                             |   |   |                                                                                     |       |   |   |   |   |   |
| Net      Loss Per Common Share                            |   |                                                               |       |   |                                                               |   |       |                                                             |   |   |                                                             |   |   |                                                                                     |       |   |   |   |   |   |
| Basic      and Diluted                                    |   | $                                                                  | (0.001     | )      |                                                               | $      | (0.001     | )                                                                |   | $      | (0.001                                                           | )      |   | $                                                                                        | (0.001     | ) |   | $ | (0.002 | ) |
|                                                      |   |                                                               |       |   |                                                               |   |       |                                                             |   |   |                                                             |   |   |                                                                                     |       |   |   |   |   |   |
| Weighted      average number of common shares outstanding |   |                                                               |       |   |                                                               |   |       |                                                             |   |   |                                                             |   |   |                                                                                     |       |   |   |   |   |   |
| Basic      and Diluted                                    |   |                                                               | 60,000,000 |   |                                                               |   | 60,000,000 |                                                             |   |   | 60,000,000                                                       |   |   |                                                                                     | 60,000,000 |   |   |   |   |   |

----

|                                                        |   |                 |       |   |         |   |   |                      |   |
|-------------------------------------------------------------|--------|----------------------|------------|--------|--------------|--------|--------|---------------------------|--------|
|                                                        |   | Common Stock    |       |   |         |   |   | DeficitAccumulated        |   |
|                                                        |   | Numberof Shares |       |   |  Amount |   |   | Paid in Capital |   |   | During theDevelopmentStage |   |
|                                                        |   |                 |       |   |         |   |   |                      |   |   |   |   |
| Balance,      July 8, 2003                                  |   |                 | -          |   |         | $      | -      |                      |   | $ | - |   |   | $ | - |   |
| (Date      of incorporation)                                |   |                 |       |   |         |   |   |                      |   |   |   |   |   |   |   |   |
|                                                        |   |                 |       |   |         |   |   |                      |   |   |   |   |   |   |   |   |
| Loss      for the period                                    |   |                 | -          |   |         |   | -      |                      |   |   | - |   |   |   | - |   |
|                                                        |   |                 |       |   |         |   |   |                      |   |   |   |   |   |   |   |   |
| Balance,      July 31, 2003                                 |   |                 | -          |   |         |   | -      |                      |   |   | - |   |   |   | - |   |
|                                                        |   |                 |       |   |         |   |   |                      |   |   |   |   |   |   |   |   |
| Issuance      of common stock for cash at $0.005 per share: |   |                 |       |   |         |   |   |                      |   |   |   |   |   |   |   |   |
| August      2003                                            |   |                 | 30,000,000 |   |         |   | 3,000  |                      |   |   | 12,000 |   |   |   | 15,000 |   |
|                                                        |   |                 |       |   |         |   |   |                      |   |   |   |   |   |   |   |   |
| Net      (loss) for the year                                |   |                 | -          |   |         |   | -      |                      |   |   | - |   |   |   | (1,731 | ) |
|                                                        |   |                 |       |   |         |   |   |                      |   |   |   |   |   |   |   |   |
| Balance,      July 31, 2004                                 |   |                 | 30,000,000 |   |         |   | 3,000  |                      |   |   | 12,000 |   |   |   | 13,269 |   |
|                                                        |   |                 |       |   |         |   |   |                      |   |   |   |   |   |   |   |   |
| Issuance      of common stock for cash at $0.005 per share: |   |                 |       |   |         |   |   |                      |   |   |   |   |   |   |   |   |
| August      2004                                            |   |                 | 20,650,000 |   |         |   | 2,065  |                      |   |   | 8,260 |   |   |   | 10,325 |   |
| May      2005                                               |   |                 | 9,350,000  |   |         |   | 935    |                      |   |   | 3,740 |   |   |   | 4,675 |   |
|                                                        |   |                 |       |   |         |   |   |                      |   |   |   |   |   |   |   |   |
| Net      (loss) for the year                                |   |                 | -          |   |         |   | -      |                      |   |   | - |   |   |   | (7,890 | ) |
|                                                        |   |                 |       |   |         |   |   |                      |   |   |   |   |   |   |   |   |
| Balance,      July 31, 2005                                 |   |                 | 60,000,000 |   |         |   | 6,000  |                      |   |   | 24,000 |   |   |   | 20,379 |   |
|                                                        |   |                 |       |   |         |   |   |                      |   |   |   |   |   |   |   |   |
| Net      (loss) for the year                                |   |                 | -          |   |         |   | -      |                      |   |   | - |   |   |   | (2,846 | ) |
|                                                        |   |                 |       |   |         |   |   |                      |   |   |   |   |   |   |   |   |
| Balance,      July 31, 2006                                 |   |                 | 60,000,000 |   |         |   | 6,000  |                      |   |   | 24,000 |   |   |   | 17,533 |   |
|                                                        |   |                 |       |   |         |   |   |                      |   |   |   |   |   |   |   |   |
| Net      (loss) for the year                                |   |                 | -          |   |         |   | -      |                      |   |   | - |   |   |   | (21,884 | ) |
|                                                        |   |                 |       |   |         |   |   |                      |   |   |   |   |   |   |   |   |
| Balance,      July 31, 2007                                 |   |                 | 60,000,000 |   |         |   | 6,000  |                      |   |   | 24,000 |   |   |   | (4,351 | ) |
|                                                        |   |                 |       |   |         |   |   |                      |   |   |   |   |   |   |   |   |
| Net      (loss) for the year                                |   |                 | -          |   |         |   | -      |                      |   |   | - |   |   |   | (29,576 | ) |
|                                                        |   |                 |       |   |         |   |   |                      |   |   |   |   |   |   |   |   |
| Balance,      July 31, 2008                                 |   |                 | 60,000,000 |   |         |   | 6,000  |                      |   |   | 24,000 |   |   |   | (33,927 | ) |
|                                                        |   |                 |       |   |         |   |   |                      |   |   |   |   |   |   |   |   |
| Net      (loss) for the year                                |   |                 | -          |   |         |   | -      |                      |   |   | - |   |   |   | (21,526 | ) |
|                                                        |   |                 |       |   |         |   |   |                      |   |   |   |   |   |   |   |   |
| Balance,      July 31, 2009                                 |   |                 | 60,000,000 |   |         |   | 6,000  |                      |   |   | 24,000 |   |   |   | (55,453 | ) |
|                                                        |   |                 |       |   |         |   |   |                      |   |   |   |   |   |   |   |   |
| Net      (loss) for the period                              |   |                 | -          |   |         |   | -      |                      |   |   | - |   |   |   | (24,588 | ) |
|                                                        |   |                 |       |   |         |   |   |                      |   |   |   |   |   |   |   |   |
| Balance,      January 31, 2010                              |   |                 | 60,000,000 |   |         | $      | 6,000  |                      |   | $ | 24,000 |   |   | $ | (80,041 | ) |

----

|                                                                                  |   |                                                       |    |   |                                                       |   |    |                                                                          |   |
|---------------------------------------------------------------------------------------|--------|------------------------------------------------------------|---------|--------|------------------------------------------------------------|--------|---------|-------------------------------------------------------------------------------|--------|
|                                                                                  |   |        Six MonthsEndedJanuary 31, 2010 |    |   |        Six MonthsEndedJanuary 31, 2009 |   |    | CumulativeAmountsFromInceptionon July 8,2003ToJanuary 31, 2010 |   |
|                                                                                  |   |                                                       |    |   |                                                       |   |    |                                                                          |   |
| OPERATING      ACTIVITIES                                                             |   |                                                       |    |   |                                                       |   |    |                                                                          |   |
| Net      loss                                                                         |   | $                                                          | (24,588 | )      |                                                       | $      | (12,833 | )                                                                             |   | $ | (110,041 | ) |
| Adjustments      to reconcile net loss to net cash used in operating      activities: |   |                                                       |    |   |                                                       |   |    |                                                                          |   |   |   |   |
| Impairment      on mineral property                                                   |   |                                                       | -       |   |                                                       |   | -       |                                                                          |   |   | 875 |   |
| Loss      on disposal of interest in oil and gas property                             |   |                                                       | -       |   |                                                       |   | -       |                                                                          |   |   | 330 |   |
|                                                                                  |   |                                                       |    |   |                                                       |   |    |                                                                          |   |   |   |   |
| Change      in non-cash working capital items:                                        |   |                                                       |    |   |                                                       |   |    |                                                                          |   |   |   |   |
| Decrease      in prepaids                                                             |   |                                                       | -       |   |                                                       |   | -       |                                                                          |   |   | - |   |
| Increase      in accounts payable and accrued liabilities                             |   |                                                       | 24,505  |   |                                                       |   | 12,799  |                                                                          |   |   | 80,048 |   |
|                                                                                  |   |                                                       |    |   |                                                       |   |    |                                                                          |   |   |   |   |
| Net      cash used in operating activities                                            |   |                                                       | (83     | )      |                                                       |   | (34     | )                                                                             |   |   | (28,788 | ) |
|                                                                                  |   |                                                       |    |   |                                                       |   |    |                                                                          |   |   |   |   |
| INVESTING      ACTIVITIES                                                             |   |                                                       |    |   |                                                       |   |    |                                                                          |   |   |   |   |
| Purchase      of interest in oil and gas property                                     |   |                                                       | -       |   |                                                       |   | -       |                                                                          |   |   | (3,830 | ) |
| Disposal      of interest in oil and gas property                                     |   |                                                       | -       |   |                                                       |   | -       |                                                                          |   |   | 3,500 |   |
| Purchase      of undeveloped mineral property                                         |   |                                                       | -       |   |                                                       |   | -       |                                                                          |   |   | (876 | ) |
|                                                                                  |   |                                                       |    |   |                                                       |   |    |                                                                          |   |   |   |   |
| Net      cash used in investing activities                                            |   |                                                       | -       |   |                                                       |   | -       |                                                                          |   |   | (1,206 | ) |
|                                                                                  |   |                                                       |    |   |                                                       |   |    |                                                                          |   |   |   |   |
| FINANCING      ACTIVITIES                                                             |   |                                                       |    |   |                                                       |   |    |                                                                          |   |   |   |   |
| Sale      of common stock                                                             |   |                                                       | -       |   |                                                       |   | -       |                                                                          |   |   | 30,000 |   |
|                                                                                  |   |                                                       |    |   |                                                       |   |    |                                                                          |   |   |   |   |
| Net      cash provided by financing activities                                        |   |                                                       | -       |   |                                                       |   | -       |                                                                          |   |   | 30,000 |   |
|                                                                                  |   |                                                       |    |   |                                                       |   |    |                                                                          |   |   |   |   |
| Net      increase (decrease) in cash                                                  |   |                                                       | (83     | )      |                                                       |   | (34     | )                                                                             |   |   | 6 |   |
|                                                                                  |   |                                                       |    |   |                                                       |   |    |                                                                          |   |   |   |   |
| Cash,      beginning of periods                                                       |   |                                                       | 89      |   |                                                       |   | 53      |                                                                          |   |   | - |   |
|                                                                                  |   |                                                       |    |   |                                                       |   |    |                                                                          |   |   |   |   |
| Cash,      end of periods                                                             |   | $                                                          | 6       |   |                                                       | $      | 19      |                                                                          |   | $ | 6 |   |

----

| HOMELAND      RESOURCES LTD.        |
|-------------------------------------|
| (An      Exploration Stage Company) |
| NOTES      TO FINANCIAL STATEMENTS  |
| JANUARY      31, 2010               |
| (Unaudited)                         |

----

| HOMELAND      RESOURCES LTD.        |
|-------------------------------------|
| (An      Exploration Stage Company) |
| NOTES      TO FINANCIAL STATEMENTS  |
| JANUARY      31, 2010               |
| (Unaudited)                         |

|    | i) |  Amended      and replaced Article I, Section 10 of its      bylaws. |
|--------------|----|---------------------------------------------------------------------------|

|  | ii)  | Decreased      the number of authorized common stock to 500,000,000 shares with a par      value of $0.0001 per share. |
|--|-----------|------------------------------------------------------------------------------------------------------------------------|

|  | iii) | Increased      the number of authorized preferred stock to 250,000,000 shares with a par      value of $0.0001 per share. Of this amount, 10,000,000 shares of preferred      stock will be designated as Series A Preferred Stock, with a par value of      $0.0001 per share. |
|--|------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| Item      2. | Management’s      Discussion and Analysis of Financial Condition and Results of      Operations |
|--------------|-------------------------------------------------------------------------------------------------------|

----

| Item      3. | Quantitative      and Qualitative Disclosures About MarketRisk |
|--------------|----------------------------------------------------------------|

| Item      4. | Controls      and Procedures |
|--------------|------------------------------|

|   | · | We      rely on external consultants for the preparation of our financial      statements and reports.  As a result, our sole officer may not      be able to identify errors and irregularities in the financial statements      and reports. |
|--------|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | We      have a sole officer who is also the sole director.  Therefore,      there is an inherent lack of segregation of duties and a limited      independent governing board. |
|--------|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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|   | · | We      rely on an external consultant for administration functions, some of which      do not have standard procedures in place for formal review by our sole      officer |
|--------|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Item      1. | Legal      Proceedings |
|--------------|------------------------|

| Item 1A. | Risk      Factors |
|---------------|-------------------|

| Item      2. | Unregistered      Sales of Equity Securities and Use ofProceeds |
|--------------|-----------------------------------------------------------------|

| Item      3. | Defaults      Upon Senior Securities |
|--------------|--------------------------------------|

| Item      4. | Removed      and Reserved |
|--------------|---------------------------|

| Item      5. | Other      Information |
|--------------|------------------------|

| Item      6. | Exhibits |
|--------------|----------|

| RegulationS-KNumber |   | Exhibit                                                                                                                                           |
|---------------------|--------|---------------------------------------------------------------------------------------------------------------------------------------------------|
| 3.1                 |   | Articles      of Incorporation (1)                                                                                                                |
| 3.2                 |   | Amendment      to Articles of Incorporation (1)                                                                                                   |
| 3.3                 |   | Bylaws      (1)                                                                                                                                   |
| 3.4                 |   | Certificate      of Amendment to Articles of Incorporation (2)                                                                                    |
| 3.5                 |   | Amended      and Restated Bylaws (2)                                                                                                              |
| 4.1                 |   | Certificate      of Designation of Rights, Preferences, and Privileges For Series A      Preferred Stock (2)                                      |
| 10.1                |   | Notice      of Mining Claims HR #1-6, recorded by Luna County, New Mexico, on March      24, 2004 (1)                                             |
| 10.2                |   | Confirmation      of Agreement with Leroy Halterman dated August 1, 2007  (1)                                                                     |
| 10.3                |   | Loan      Commitment Letter from Wellington Financial Corporation dated August 1,      2007 (1)                                                   |
| 10.4                |   | Notice      of Intent to Hold the HR #1-6 Lode Mining Claims, filed with the Bureau of      Land Management on August 15, 2007 (1)                |
| 10.5                |   | Notice      of Intent to Hold the HR #1-6 Lode Mining Claims recorded by Luna County,      New Mexico, on August 17, 2007 (1)                     |
| 31.1                |   | Rule      15d-14(a) Certification of Armando Garcia                                                                                               |
| 32.1                |   | Certification      of Armando Garcia Pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant      to Section 906 of the Sarbanes-Oxley Act of2002 |

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|   | (1) | Incorporated      by reference to the exhibits to the registrant’s registration statement on      Form SB-1 filed November 19, 2007, file number  333-147501. |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|    | (2) | Incorporated      by reference to the exhibits to the registrant’s current report on Form      8-K filed February 8, 2010, file number  333-147501. |
|--------------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------|

|   |                | HOMELAND      RESOURCES LTD. |
|--------|---------------------|------------------------------|
|   |                | (Registrant)                 |
|   |                |                         |   |
| Date:  | March      16, 2010 | By:                          | /s/      Armando Garcia |
|   |                |                         | Armando      Garcia, |
|   |                |                         | President,      Secretary, Treasurer |
|   |                |                         |  (principal      executive and financialofficer) |

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