FPX Nickel Begins Inaugural Drill Program at the Advocate Nickel Property in Newfoundland

FPX Nickel Corp. has launched its first 4,000-metre diamond drill program at the Advocate Nickel Property in Newfoundland. The initiative targets two large-scale awaruite nickel deposits: Birchy North and Wolverine. This drilling follows a completed large-scale unmanned airborne magnetic survey that delineated host geology and structures, allowing the company to extrapolate known mineralization into areas with limited rock sampling due to overburden.

Drilling at Birchy North will test 1.2 km of a 2.6 km by 700 m target defined by magnetic signatures, with previous bedrock samples returning high-grade awaruite values up to 0.13% Davis Tube Recoverable (DTR) nickel. At Wolverine, drilling will test the core area of a strong magnetic high feature measuring 7 km long by up to 1 km wide, where previous surface samples returned up to 0.14% DTR nickel.

The project operates under a generative alliance with JOGMEC, where JOGMEC holds the ability to obtain a 60% interest and has funded 60% of expenditures to date, while FPX holds the remaining 40%. This announcement directly follows the June 2026 updates where FPX delineated four large-scale targets and announced plans for an inaugural drill program for summer 2026.

FPX Nickel Corp. has begun drilling at its Advocate project, marking a routine step in the exploration plan announced in June 2026. The market was already aware of the target delineation, the completion of magnetic surveys, and the planned summer 2026 drilling timeline. This update confirms operational progress but does not introduce new grades, resource estimates, or financial milestones. The activity aligns with the company's generative exploration strategy under the JOGMEC alliance and does not introduce a material change to the company's valuation or near-term catalysts.

FPX Nickel Corp. is a pre-revenue junior mining company focused on developing the Baptiste Nickel Project in the Decar Nickel District of central British Columbia. The flagship project features a large-scale greenfield discovery of sulphur-free, nickel-iron awaruite (Ni3Fe) mineralization. Awaruite mineralization allows for direct magnetic separation processing, eliminating the need for intermediate smelting or complex refining, which positions Baptiste as a potential low-carbon-intensity nickel producer. The project covers 453 square kilometres and has received approximately US$55 million in exploration and development investment since 2010. FPX is also advancing secondary properties, including the Klow property in BC and the newly acquired Advocate property in Newfoundland, primarily through its generative alliance with JOGMEC.