Fathom Announces New Discovery at the Gochager Lake Project During Completion of Winter Drill Program

About this update from Fathom Nickel, Inc.

Calgary, Alberta--(Newsfile Corp. - April 7, 2026) - Fathom Nickel Inc. (CSE: FNI) (FSE: 6Q5) (OTCQB: FNICF) ('Fathom", or the "Company") is pleased to announce a new discovery located approximately 500 meters east-northeast of the historic Gochager Lake deposit during the completion of the winter drilling phase at the Gochager Lake Project. Exploration Highlights: Ian Fraser, Fathom CEO and VP Exploration stated, "The goal of the initial phase of the drilling program was to demonstrate the continuation of magmatic Ni-Cu-Co mineralization in favourable host rock along strike to the east-northeast of the historic Gochager Lake deposit. Mission accomplished! We are excited to announce a new discovery of Gochager-like magmatic Ni-Cu-Co1 zones of mineralization approximately 500 meters east-northeast of the historic Gochager Lake deposit. The new discovery area will be the subject of additional drilling once we commence the summer phase of the drilling program in early June. We were also pleased to identify the strongest borehole electromagnetic (BHEM) off-hole response encountered to date at the Gochager Lake project. This area, within the Camp geochemistry anomaly, and approximately 1.6 kilometers east-northeast of the historic deposit, will also see additional drilling during the summer phase. We will spend the next two months refining our interpretations of results from the winter program and planning new drillholes for the upcoming summer phase of the drill program." In all, seven drillholes totaling 2,143 meters of drilling was completed during the winter phase of the program (Table-1, Figure-1). The Company is fully funded to complete the combined winter and summer drill program of up to 4,000 meters. The summer phase of the drill program is expected to commence in early to mid-June. The Company experienced a logistical set-back with respect to core cutting. Core from the last two drill holes was not cut in camp and has been transported to La Ronge for cutting and sampling. Assuming a 6-8-week turnaround time for assays, the Company does not anticipate the release of all assays and the interpretation of assay results until mid June. Representative core photos of Ni-Cu-Co1 mineralization from the new discovery area is presented in Figure 2. Table-1 Drillhole Locations (NAD83 Zone 13)   Figure-1 Drillhole Location Map To...

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