Fathom holds 100% of Gochager Lake

Executive Summary

• Fathom Nickel Inc. has satisfied all cash, share issuance, and exploration expenditure requirements under the Gochager Lake earn‑in agreement, now holding a 100 % interest in the property (subject to a 2 % NSR royalty).
• The original consideration was modified: cash payment reduced to $79,500 and shares issued increased to 1.21 million; exploration spend of $2 M was completed by end‑2024, accelerating the earn‑in period from four to three years.
• The company granted incentive stock options for up to 6.4 million common shares at a $0.05 exercise price, vesting over 60 months.

Key Details

• Earn‑In Completion: 100 % ownership of Gochager Lake property secured; 2 % net smelter return (NSR) royalty granted to vendor.
• Consideration Adjustments:
• Cash payment decreased by $12,500 → final cash paid $79,500.
• Shares issued increased by 290,000 → total shares issued 1.21 million.
• Exploration Expenditure Requirement: $2 M of qualifying exploration spend met by end‑2024, triggering acceleration of the earn‑in timeline from four to three years.
• NSR Purchase Right: Fathom may purchase an additional 1 % of the NSR for $1 million at any time.
• Stock Option Grant: Incentive stock options granted to directors/officers/consultants for up to 6.4 million common shares, exercisable at $0.05 per share, with vesting one‑third on grant date and thereafter each anniversary (60‑month term).
• CEO Quote (Ian Fraser): Emphasized expansion of the Gochager Lake footprint from 4,696 ha to >34,000 ha, development of a geological model comparable to world‑class magmatic Ni‑Cu‑Co projects, extension of mineralized corridor over 1.4 km, and creation of high‑priority drill targets for building a district‑scale nickel camp in north‑central Saskatchewan.
• Qualified Person: Ian Fraser, P.Geo., CEO, verified all technical data per NI 43‑101.

Notable Quotes

“We are very pleased to have completed all requirements under the agreement to earn a 100 % interest in the property… we have expanded the Gochager Lake property footprint … and developed a plethora of high‑priority drill targets as we continue our goal of building a district‑scale nickel camp in north‑central Saskatchewan.” – Ian Fraser, CEO & VP Exploration.