Fathom Nickel to begin drilling at Gochager Lake

Executive Summary

• Fathom Nickel Inc. has completed the winter trail and mobilized drilling equipment to its Gochager Lake project, marking the readiness for the start of a new winter drill program.
• The company expects to begin drilling 3,000 to 4,000 meters of core holes during the first week of March 2026, targeting the Camp multielement soil/rock geochemical anomaly and the strike extension of the historic deposit.
• The company is fully financed to complete the program, with a contingency plan to execute the full drill program in late May/early June 2026 if spring breakup prevents completion by mid-April.

Key Details

• Project Status: Completion of winter trail and mobilization of drilling/ancillary equipment to the Gochager Lake project.
• Drill Program Scope: 3,000 to 4,000 meters of drilling.
• Start Date: Expected to begin during the first week of March 2026.
• Contingency Plan: If the program is not completed by spring breakup (mid-April 2026), the full 3,000- to 4,000-metre program will be completed in late May/early June 2026.
• Primary Drill Targets:
  • The robust Camp multielement soil/rock geochemical anomaly, located 1.5 km along strike of the historic deposit.
  • Strike extension of the historic deposit to the immediate east-northeast, covering an area of favorable geology and geochemistry extending greater than 500 metres towards Scurry Lake.
  • Mapped Gochager-like geology/mineralization recognized 3.5 km along strike east-northeast of the deposit.
• Financing: The company is fully financed to complete the proposed drill program.
• Technical Methodology: Utilization of a portable Vanta XRF analyzer for real-time lithogeochemical, multielement data on surface rock chip and grab samples (Nickel, Copper, Cobalt, Chrome, Magnesium).
• Qualified Person: Ian Fraser, PGeo, CEO and VP of Exploration, has verified the data and approved the technical information in accordance with National Instrument 43-101.

Notable Quotes

• "Our field crews have worked very hard getting the winter trail in place in spite of abnormally warm weather and challenges created by recent wildfires in the area. With overland access and lake trails now in place, it is go time. We plan to be drilling by the first week of March." — Ian Fraser, CEO
• "The initial drill holes will test the very robust Camp multielement soil/rock geochemical anomaly... The expanded footprint and potential scale at the project is supported by the mapped Gochager-like geology/mineralization now recognized 3.5 km along strike east-northeast of the deposit." — Ian Fraser, CEO