Fathom completes summer exploration program at Gochager

Executive Summary

• Fathom Nickel Inc. completed its summer field exploration program at the Gochager Lake project, collecting 2,926 B-horizon soil samples and 337 rock samples.
• The program successfully expanded the geochemical footprint along strike by approximately 3.5 km to the northeast and 2.5 km to the southwest, despite being cut short by three days due to a lightning-induced wildfire.
• Preliminary pXRF analysis identified significant nickel mineralization in ultramafic, gabbroic, and metasedimentary hosts, with anomalies detected up to 1,200 meters along strike of the historic deposit.

Key Details

• Sampling Statistics:
  • 2,926 B-horizon soil samples collected from 3,183 designated sites.
  • 337 rock samples (chip and grab) collected from various outcrop locations.
  • All 337 rock samples analyzed on-site via pXRF for nickel, copper, cobalt, sulphur, chrome, and magnesium.
  • Multiple samples submitted for multielement assay and whole rock geochemical analysis.
• Program Impact & Disruption:
  • Field crew evacuated due to a lightning-induced wildfire, truncating the program by three days.
  • Approximately 90% of intended soil geochemistry sampling coverage was completed.
  • Areas to the southwest not highlighted in grey figures represent zones where work was halted due to the wildfire.
• Geochemical Footprint Expansion:
  • Soil geochemistry coverage now totals approximately 9 km in strike and 1 to 3 km in width.
  • 2025 program added ~3.5 km of coverage to the northeast and ~2.5 km to the southwest of the 2024 survey area.
  • Coverage focused within an interpreted structural corridor.
• Notable Mineralization Findings (via pXRF):
  • Ultramafic Host: Nickel (Ni) in disseminated sulphide mineralization detected ~1,200 meters along strike of the historic Gochager Lake deposit.
  • Gabbroic Host: Multiple locations of Ni in disseminated sulphide mineralization detected ~400 to 500 meters along strike of the historic deposit. Variable texture gabbro with Ni is the same host rock as the historic deposit.
  • Metasedimentary Host: Elevated Ni in disseminated to semi-massive sulphide mineralization detected ~800 meters west-southwest of the historic deposit. This area contained the highest Ni-in soil sample collected (referenced in July 21, 2025 press release).
• Future Plans:
  • Company anticipates receipt of all soil and rock geochemistry results by mid-September.
  • Plans to conduct a geophysical survey to determine conductivity associated with newly discovered mineralized gabbro and ultramafic rock, specifically to check for conductors below a small lake.
  • Next steps include interpreting robust multielement in-soil anomalies flanking the structural corridor.

Notable Quotes

• Ian Fraser, CEO and VP, Exploration: "Firstly, I would like to thank the crew at TerraLogic Exploration Inc. for an excellent job done under extremely challenging circumstances... We look forward to interpreting the results of the soil and rock geochemistry program once assays are in hand in September. It is obvious from preliminary rock geochemistry that mineralized gabbro continues for a minimum of 500 m along strike of the historic Gochager Lake deposit."
• Ian Fraser, CEO and VP, Exploration: "We were delighted and very encouraged with the discovery of a mineralized ultramafic outcrop further along strike and on the other side of the lake from the known mineralized gabbro occurrences... to determine the next exploration steps as we further define this burgeoning nickel camp in north-central Saskatchewan."