FATHOM ANNOUNCES COMMENCEMENT OF SUMMER DRILL PROGRAM AT THE GOCHAGER LAKE PROJECT

Fathom Nickel Inc. has initiated its Phase-2 summer drilling campaign at the Gochager Lake project in Saskatchewan's Trans Hudson Corridor, marking a significant step forward in the company's exploration strategy. The program consists of 6-10 drillholes totaling approximately 3,000 meters and is designed to follow up on encouraging results from the recently completed Phase-1 winter program of seven holes spanning 2,143 meters.

The Phase-1 program achieved a notable discovery, identifying a new metasediment-hosted zone of nickel-copper-cobalt mineralization approximately 500 meters east of the historic Gochager Lake deposit. This represents the first recorded nickel-copper-cobalt zone hosted in metasedimentary rocks at the project, expanding the understanding of mineralization potential beyond the traditional gabbroic host rocks. Multiple strong borehole electromagnetic off-hole anomalies were also identified in both rock types during Phase-1, providing additional high-priority targets for the current program.

The company's operational efficiency has enabled expansion of the originally planned combined Phase-1 and Phase-2 program from 4,000 meters to 5,143 meters total, with cost savings realized through winter trail utilization. Fathom reports full funding for the 3,000-meter Phase-2 program, with assay results from Phase-1 drilling expected imminently. The discovery of metasediment-hosted mineralization significantly expands the exploration potential at Gochager Lake, as it demonstrates that rocks surrounding the known gabbroic-hosted deposit can also host significant nickel-copper-cobalt mineralization.

This development positions Fathom well in the critical minerals sector, particularly as the company targets magmatic nickel sulphide discoveries to support North American supply chains and the global energy transition. With three high-quality projects totaling over 133,000 hectares in the prolific Trans Hudson Corridor, including properties hosting historic mines and deposits, Fathom is building a substantial exploration portfolio in one of Canada's premier nickel districts.