Fathom Nickel begins winter drilling at Gochager Lake

Executive Summary

• Fathom Nickel Inc. has commenced its winter drill program at the Gochager Lake project on March 6, 2026, with operations expected to continue into early April depending on weather conditions.
• The company is utilizing a winter trail to transport equipment, which is projected to reduce drilling costs per meter by 30% to 35% compared to historical helicopter-supported programs, allowing for increased drilling efficiency.
• The company is fully financed for a proposed program of up to 4,000 meters; if spring breakup occurs before completion, the company intends to return in late May/early June to finish the program.

Key Details

• Drill Program Start Date: March 6, 2026.
• Projected End Date: First or second week of April 2026, subject to winter conditions.
• Cost Efficiency: 30% to 35% reduction in total drilling cost per meter due to the elimination of helicopter support in favor of winter trail transport.
• Program Scope: Up to 4,000 meters of drilling.
• Contingency Plan: If the program is not completed before spring breakup (mid-April), Fathom intends to return to Gochager in late May/early June to complete the full 3,000- to 4,000-meter program.
• Technical Objective: Testing along strike of the historic Gochager Lake deposit for additional Gochager-like mineralization.
• Qualified Person: Ian Fraser, PGeo, CEO and VP of Exploration, has verified the data disclosed in the release.

Notable Quotes

• "Our field crews worked very hard over the course of the past two months to ensure the trail and ice conditions were safe to transport the diamond drill and ancillary equipment to site for the start of this program. With the winter trail now in place, we will eliminate our reliance on helicopter support, resulting in an expected 30-per-cent to 35-per-cent reduction in total drilling cost per metre. This increased cost-efficiency will allow us to drill more metres and, ultimately, more holes in comparison to historical, heli-supported drill programs." — Ian Fraser, CEO and VP of Exploration