Fathom Announces Additional Prospecting Program Within Expanded Footprint at the Gochager Lake Project

Executive Summary

• Fathom Nickel mobilized geology crews back to the Gochager Lake Project to conduct additional prospecting and portable X‑ray fluorescence (pXRF) rock geochemistry on newly exposed outcrop following a recent regional wildfire.
• The program targets an expanded mineralized “footprint” of gabbroic‑pyroxenite host rocks extending up to 1.4 km east‑northeast of the historic deposit, with chip sampling and on‑site pXRF analysis planned for roughly one week.
• Initial soil geochemistry results are being received; full soil and rock assay data are expected by mid‑October, after which a comprehensive results release will follow.

Key Details

• Program Scope: Prospecting and pXRF scanning of outcrop along a 1.4 km strike corridor east‑northeast of the historic Gochager Lake deposit; collection of chip samples for multi‑element assay and whole‑rock geochemistry.
• Duration: Approximately one week of field work.
• Methodology: Use of handheld Vanta™ XRF Analyzer (pXRF) with 120 s total acquisition per point (30 s beam 1, 60 s beam 2, 30 s beam 3); elements recorded include Ni, Cu, Co, Cr, Mg and key pathfinder elements.
• Data Status: Initial soil geochemistry results have been received; full suite of soil and rock assay results anticipated by mid‑October 2025.
• CEO Comment: Ian Fraser highlighted that the wildfire dramatically increased outcrop exposure, improving access to favourable gabbro‑pyroxenite units and enabling more extensive definition of the mineralized corridor.
• Qualified Person: Ian Fraser, P.Geo., CEO & VP Exploration (qualified person under NI 43‑101) has verified all disclosed data.

Notable Quotes

“The wildfire has exposed more of the favourable gabbro unit in areas previously prospected… Our chip sampling pXRF methodology has been very successful in identifying more of the favourable gabbro‑pyroxenite units… we are confident this program will add more definition to the expanded footprint.” – Ian Fraser, CEO & VP Exploration

Materiality Assessment: Non-Material – Positive (operational update that provides incremental exploration information but does not constitute a material change in the company’s financial position or resource estimate).