First Atlantic Nickel & Cobalt Corp. · TSXV:FAN
First Atlantic Nickel & Cobalt — First Atlantic Nickel — Investor Presentation (January 2025)
26 slides from First Atlantic Nickel & Cobalt's investor presentation, January 2025
Slide 1: Leading the Charge: Smelter-Free Nickel
LEADING THE CHARGE Smelter-Free Nickel for a Resilient Critical Minerals Supply Chain TSXV:FAN OTC:FANCF FSE:P21 INVEST OR RELATIONS: 1.84 4 .592.6337 / ir@fanickel.com
Slide 2: Nickel: Essential to the Modern World
NICKEL: ESSENTIAL TO THE MODERN WORLD STAINLESS STEEL & NICKEL ALLOYS Nickel strengthens stainless steel, boosting its corrosion resistance, heat resistance, and Infrastructure & Military & durability for challenging applications. Construction Defense PERFORMANCE BATTERIES Nickel powers high-perform
Slide 3: First Mover Advantage, Critical Mineral Security, Future Demand
FIRST MOVER CRITICAL MEETING ADVANTAGE MINERAL SECURITY FUTURE DEMAND • Positioned to be the first major bulk • Addresses the urgent need for reliable • Caters to the rising demand for nickel in tonnage nickel producer in Atlantic and secure nickel supply chains for various sectors, including EV bat
Slide 4: First Atlantic Nickel Project Highlights
FIRST ATLANTIC NICKEL PROJECT HIGHLIGHTS KEY MINING INFRASTRUCTURE Existing road access and grid power infrastructure enable operations HIGHEST-GRADE NICKEL MINERAL year-round. Awaruite, is the highest-grade nickel mineral and a natural nickel-iron alloy (~75% nickel), can produce ~65% nickel concen
Slide 5: Nickel: Critical Mineral
NICKEL: CRITICAL MINERAL “Nickel is a critical mineral input to produce high-temperature The Energy Act of 2020 defines a “critical mineral” as aerospace alloys, stainless steel, and chemicals for lithium-ion a non-fuel mineral or mineral material essential to batteries”2 the economic or national se
Slide 6: Nickel: In Demand
NICKEL: IN DEMAND “Overall mineral demand from electric vehicles in the SDS grows by nearly 30 times between 2020 and 2040, with Nickel is essential for construction demand for lithium and nickel growing because of the strength, durability, 1 World Trade Center by around 40 times” Outokumpu Stainles
Slide 7: Nickel: Tesla's Achilles Heel
NICKEL: TESLA’S ACHILLES HEEL Tesla Runs on Nickel: Tesla's 80%+ nickel cathodes Our cells should be called Nickel-Graphite, because primarily the cathode is nickel and the anode side is deliver best-in-class range, charging, and acceleration: graphite with silicon oxide… [there’s] a little bit of l
Slide 8: Nickel: Clean Energy Technology to Supercharge Demand
NICKEL: CLEAN ENERGY TECHNOLOGY TO SUPERCHARGE DEMAND SUSTAINABLE DEVELOPMENT SCENARIO (SDS) MINERAL DEMAND GROWTH FROM BATTERY STORAGE ADDITIONS1 CLEAN ENERGY NEEDS NICKEL1 150 Nickel Clean Energy Multiple of 2020 Demand Technology Importance EVs and Battery Storage 100 Geothermal Hydrogen 50 Conce
Slide 9: Nickel: Vulnerable Supply Chain
NICKEL: VULNERABLE SUPPLY CHAIN NATO countries are currently dependent on Indonesia for supply and China for processing: Indonesia controls 50% of China controls 80% of global China controls 84% of the Indonesian global nickel mining 1 processing for nickel sulphide 3 nickel market through investmen
Slide 10: Awaruite: Clean Nickel of the Future
AWARUITE: CLEAN NICKEL OF THE FUTURE Awaruite is a naturally occurring nickel-iron alloy (Ni3Fe), formed during serpentinization of ultramafic rocks without sulfur, unlike nickel sulfides and laterites. NO SMELTING HIGH PAYABILITY Nickel Key Attribute Nickel Sulfides Awaruite Laterites Direct supply
Slide 11: Awaruite: Magnetic Mineral Processing Technology
AWARUITE: MAGNETIC MINERAL PROCESSING TECHNOLOGY Magnetic mineral processing is a superior, established, economic, safe, and efficient technology for extracting nickel and other economic minerals from rocks, proven in iron ore processing for over a century. 1 2 3 4 CRUSHING & GRINDING MAGNETIC SEPAR
Slide 12: Nickel Rush: Corporate Giants & US Government Fuel Investment Surge
NICKEL RUSH: CORPORATE GIANTS & US GOVERNMENT FUEL INVESTMENT SURGE SEPT 2024 JAN 10, 2022 JUNE 2022 OCT 19, 2022 FEB 8, 2023 JULY 3, 2023 SEPT 21, 2023 JAN 22 2024 $500M $1+ BILLION $410M MAR 22, 2024 Talon Metals $4.94M $114M $24M JV PARTNER $14.4M $500M Export Polymet Development Offtake: 75,000
Slide 13: Nickel: Vital to EV Supply Chain
NICKEL: VITAL TO EV SUPPLY CHAIN North American planned and developed battery capacity US NICKEL CRISIS The only US Nickel mine produces 9,000 tons/year (Eagle Mine, Michigan) but plans to close in 2027, leaving US fully import dependent.1 2025 IRA CLEAN VEHICLE TAX CREDIT RULES • EVs lose $7,500 cr
Slide 14: Newfoundland: Critical for Minerals
NEWFOUNDLAND: CRITICAL FOR MINERALS Newfoundland Plays a Strategic Role in a Tesla Signs Major Nickel Deal in Newfoundland & Labrador: Tesla signed a deal in May 2022 for a Secure, Reliable Supply Chain for Critical large long-term nickel supply from Voisey's Bay, Minerals & Energy in North America
Slide 15: Atlantic Nickel Project Overview
ATLANTIC NICKEL PROJECT HISTORICAL DRILLING SUCCESS PROJECT OVERVIEW Drill Hole 78-AL-1 (left) re-assayed up to 0.27% Ni and 0.22% Ni over 87.15 meters, ending in nickel mineralization open in all directions. GEOLOGY • Pipestone Ophiolite Complex is a 30 km highly magnetic ultramafic ophiolite belt
Slide 16: 2024 Pre-Drilling Program
ATLANTIC NICKEL PROJECT 2024 PRE-DRILLING PROGRAM WORLD-CLASS EXPERTISE: First Atlantic engaged Dr. Ron Britten, a world-renowned nickel expert specializing in awaruite, to guide exploration. INFRASTRUCTURE UPGRADES: Built new roads, bridges, and established an all-weather camp. LIDAR SURVEY: Comple
Slide 17: Phase 1: Maiden Drill Program
ATLANTIC NICKEL PROJECT PHASE 1: MAIDEN DRILL PROGRAM Fall 2024 drilling began at Super Gulp and RPM Zones following Dr. Ron Britten's summer exploration program that revealed surface large-grain awaruite: • Super Gulp discovery lies 4 km south of Gulp Pond SUPER GULP and 16 km south of Atlantic Lak
Slide 18: 2024 Drilling: RPM Expansion
ATLANTIC NICKEL PROJECT 2024 DRILLING: RPM EXPANSION RPM-DDH -02 • RPM-DDH -02 extended the awaruite mineralization approximately 300 meters laterally from the initial discovery hole (RPM–DDH -01). • Visible disseminated awaruite with grain sizes up to 500 microns were observed throughout the 234- m
Slide 19: Expanding the RPM Zone's Potential
ATLANTIC NICKEL PROJECT: PHASE 2 DRILLING EXPANDING THE RPM ZONE'S POTENTIAL Phase 2 drilling aims to expand the RPM Zone's awaruite nickel mineralization area by targeting deeper depths and extending strike length & width: • Phase 1 drilling at RPM Zone has proven visible awaruite mineralization ac
Slide 20: 2025 Project Operations Plan
2025 PROJECT OPERATIONS PLAN ATLANTIC NICKEL PROJECT Q1 2025 Q2 2025 RPM ZONE, CHROME Phase 1 Drilling: Initial Drill Program POND, SUPER GULP RPM ZONE, CHROME Phase 1 Metallurgical: Metallurgical Testing POND, SUPER GULP RPM ZONE, Phase 2 Drilling: RPM Zone Footprint Expansion CHROME POND RPM ZONE,
Slide 21: Comparison to Other Bulk Tonnage Nickel Deposits
Images show the total magnetic intensity (TMI) signature over three project areas and are shown at same scale. Data is sourced from Government of ATLANTIC NICKEL PROJECT Canada Geoscience Data Repository for Geophysical Data. A comparison of COMPARISON TO OTHER the magnetic anomaly size, rock type,
Slide 22: Voisey's West Project Overview
The Voisey's West project is near the PROJECT OVERVIEW world-class Voisey Bay Nickel Mine VOISEY'S WEST with 32.4 million tonnes at 2.13% nickel and 10.3 million tonnes at 0.87% nickel, acquired by Vale for $4.5 billion in 1996. HISTORY EXPLORATION POTENTIAL Voisey's Bay: Historic $4.5B discovery (1
Slide 23: Voisey's West 2023-24 Exploration
VOISEY'S WEST PROJECT 2023-24 EXPLORATION The Company completed a detailed 2023 FIRST ATLANTIC NICKEL DRILLING PROGRAM HIGHLIGHTS compilation program, including re- sampling of historic drill cores and Hole From (m) To (m) Int (m) Ni (%) Cu (%) Co (%) Au (g/t) Pt (g/t) Pd (g/t) PEG + Au (g/t) NiEq (
Slide 24: Comparables
COMPARABLES First Atlantic FPX Nickel Corp Canada Nickel EVNI Polymet Project Atlantic Nickel Baptiste Crawford Carlang NorthMet Historical High Value Grand Falls- Fort St James, Timmins, Timmins, Hoyt Lakes, Nickel Acquisitions Location Windsor, British Columbia Ontario Ontario Minnesota Newfoundla
Slide 25: Management
MANAGEMENT Adrian Smith P.Geo Kosta Tsoutsis James Turner P.Geo Dr. Ron Britten CEO & Director Director Technical Advisor Technical Advisor 15+ years mining and 20+ years finance and capital 45+ years industry experience, World-renowned nickel expert exploration experience. markets experience. Forme
Slide 26: Contact
TSXV:FAN OTC:FANCF FSE:P21 1890 - 1075 West Georgia Street, Vancouver, BC V6E 3C9 T. 844.592.6337 ir@fanickel.com F. 604.687.3141 www.fanickel.com
First Atlantic Nickel — Investor Presentation (January 2025) on 6ix