Fathom Announces the Start of Winter Trail Access to the Gochager Lake Project

Executive Summary

• Fathom Nickel has secured winter trail access to its Gochager Lake project via the Roy‑Lloyd mine road and plans to complete a trail to Benjamin Lake by Christmas 2025.
• The company will begin a low‑frequency EM geophysical survey in early January 2026, followed by a drill program slated for mid‑February 2026 using historic trails and ice roads to transport equipment.
• Access improvements are expected to substantially lower winter exploration logistics costs and enable higher drilling meters at the project.

Key Details

• Permission obtained to use the access road serving the Roy‑Lloyd mine (currently under care and maintenance).
• Trail construction schedule: flagging and preparation from the mine site north to Benjamin Lake, target completion by Christmas 2025; historic trail work resumes after holiday break.
• Ice‑road feasibility will be evaluated on Benjamin Lake and Bellows Lake once lake ice is suitable.
• Existing historic trails and planned ice roads are intended to support drilling equipment mobilization by mid‑February 2026.
• A drill contractor is being engaged for the anticipated drilling program.
• Early‑January 2026: low‑frequency electromagnetic (EM) geophysical survey along strike of the historic Gochager Lake deposit, extending previous EM work that identified an expanded Ni‑Cu‑Co geochemical footprint east‑northeast of the deposit.
• CEO Ian Fraser’s statement emphasizes cost reduction from eliminating helicopter and fixed‑wing air support, enabling more drilling meters and better target definition.

Notable Quotes

“The winter trail into the Gochager Lake project is an important milestone for the Company, providing synergies that will significantly reduce our all‑in cost of exploration… This all leads to the ability to drill more meters at the project.” – Ian Fraser, CEO & VP Exploration

Materiality Assessment: Non‑Material – Positive (operational progress with no immediate financial impact).