Fathom Announces Commencement of Winter Drill Program at the Gochager Lake Project

Executive Summary

• Fathom Nickel announced the start of its winter drill program at the Gochager Lake project on March 6, 2026, with drilling expected to continue into early April.
• The company expects a 30‑35% reduction in drilling cost per meter by using over‑land trails instead of helicopter support, enabling more meters and holes to be drilled within the same budget.
• Fathom is fully funded to complete up to 4,000 m of drilling; if not finished before mid‑April break‑up, a second field season is planned for late May/early June.

Key Details

• Program Start: Late day March 6, 2026.
• Target Depth & Length: Up to 4,000 meters of diamond drilling (3,000–4,000 m anticipated).
• Cost Efficiency: Trail‑based access expected to cut total drilling cost per meter by 30%‑35% versus prior heli‑supported programs.
• Funding: Fully funded; no additional financing required for the planned drill program.
• Contingency Plan: If the full program is not completed before spring break‑up (mid‑April), drilling will resume in late May/early June to finish the remaining meters.
• Qualified Person: Ian Fraser, P.Geo., CEO & VP Exploration, has verified all technical data per NI 43‑101.

Notable Quotes

“With the winter trail now in place, we will eliminate our reliance on helicopter support, resulting in an expected 30% to 35% reduction in total drilling cost per meter… This drill program is now well underway, and we look forward to testing along strike of the historic Gochager Lake deposit for more Gochager‑like mineralization.” – Ian Fraser, CEO & VP Exploration

Materiality Assessment: Non-Material – Positive (operational update with cost‑saving implications but no immediate financial impact).