First Atlantic Nickel & Cobalt Highlights G7 Leaders' Declaration on Critical Minerals: G7 Names Nickel One of Only Two Pilot Minerals for a New Allied Traceability Framework, Moves to Mobilize Equity Investment and Offtake, and Establishes a Critical Min

Executive Summary

• First Atlantic Nickel & Cobalt Corp. commented on the G7 Leaders' Declaration on Securing Supply Chains for Critical Minerals, highlighting nickel and cobalt as pilot critical minerals for a new G7-wide traceability framework.
• The company positions its Pipestone XL Nickel-Cobalt Alloy Project in Newfoundland as a strategic, allied source of awaruite, emphasizing its smelter-free processing advantages and direct alignment with G7 objectives to diversify supply chains away from dominant non-G7 suppliers.
• The release references recent technical milestones, including a May 2026 SGS analysis confirming high-grade awaruite at the RPM Zone and a June 2026 discovery of visible awaruite over a 414-metre interval at the Alloy Max Zone.

Key Details

• G7 declaration identifies lithium and nickel as the first two "pilot" critical minerals for a new G7-wide traceability framework, with plans to extend the pilot to five new minerals annually.
• G7 governments commit to mobilizing equity investment, guarantees, and offtake arrangements to close the critical minerals investment gap before 2030.
• Establishment of a new G7 Critical Minerals Resilience and Production Alliance to coordinate financing, diversification, and transparency across allied jurisdictions.
• First Atlantic's Pipestone XL Project is located in Newfoundland (a G7 jurisdiction) and is being advanced as an allied source of awaruite (Ni₃Fe), a naturally occurring nickel-iron-cobalt alloy.
• Awaruite is sulfur-free and naturally magnetic, allowing direct upgrade to a ~60% nickel concentrate via magnetic separation and flotation, bypassing conventional smelting, roasting, and high-pressure acid leaching.
• The smelter-free processing pathway eliminates associated electricity demand, emissions, and acid-mine-drainage risk, enabling direct downstream use in battery refining, stainless steel, specialty alloys, aerospace, and defence manufacturing.
• U.S. Geological Survey data cited indicates Indonesia accounted for approximately two-thirds of global nickel mine production in 2025 (2.6M of 3.9M tonnes), with Chinese firms controlling roughly 75% of Indonesia's refining capacity.
• May 21, 2026: SGS Canada Inc. electron microprobe analysis confirmed awaruite at the RPM Zone averages 77.62% nickel and 1.69% cobalt.
• June 15, 2026: Second large-scale awaruite discovery at the Alloy Max Zone; discovery hole XL-26-15 intersected visible awaruite over its entire 414-metre length and ended in open mineralization.
• Nickel and cobalt are among Canada's six priority critical minerals and hold critical mineral designations in the U.S., with nickel carrying a dual energy-and-defence designation.
• The G7 declaration explicitly targets building processing and industrial capacity to reduce dependence on a single dominant supplier outside the G7, directly aligning with awaruite's midstream processing bypass strategy.
• The new Alliance builds on the Critical Minerals Production Alliance launched under Canada's 2025 G7 presidency, with Australia also expressing support for the declaration.
• Company strategy is explicitly aligned with G7 policy priorities: trusted-source supply, midstream processing capacity, and allied coordination on financing and offtake for North American downstream industries.