Fathom Announces New Zones of Nickel-Copper-Cobalt Mineralization at the Gochager Lake Project

About this update from Fathom Nickel, Inc.

Calgary, Alberta--(Newsfile Corp. - June 24, 2026) - Fathom Nickel Inc. (CSE: FNI) (FSE: 6Q5) (OTCQB: FNICF) ("Fathom", or the "Company") is pleased to announce that the Phase-2 drill program at Gochager Lake continues to demonstrate the effectiveness of BHEM (borehole electromagnetic surveying) targeting. Follow-up drilling of off-hole conductors identified through BHEM probes has identified two new zones of gabbro-hosted nickel-copper-cobalt1 mineralization northeast and southwest of the historic deposit. With approximately two-thirds of the planned 3,000-meter program now complete, the Company expects drilling to conclude by June 30, with core logging and processing to be completed during the first week of July. Phase-2 assay results are expected to be released in early August. Ian Fraser, Fathom CEO and VP Exploration, stated, "An off-hole BHEM anomaly below drillhole GL26024, tested by drillhole GL26028, has led to the discovery of a new zone of gabbro-hosted nickel-copper-cobalt mineralization approximately 100 meters northeast of the historic Gochager Lake deposit. Drillhole GL26029, drilled as a follow-up to GL24014 to test an off-hole BHEM anomaly, also intersected gabbro-hosted nickel-copper-cobalt mineralization approximately 150 meters southwest of the deposit. This represents another new zone and the furthest southwest mineralized intercept drilled on the property to date. BHEM probes continue to identify off-hole conductivity, and follow-up drilling of these conductors has consistently intersected nickel-copper-cobalt-bearing sulphides in gabbroic to ultramafic rocks and metasedimentary rocks. The Company continues to benefit from the elimination of helicopter dependency, and this has resulted in approximately an additional 1,000 meters of drilling over and above what was originally planned and budgeted for." Figure-1: Drillhole Plan Map To view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/7843/302654_f8a91cede43b29e5_001full.jpg Figure 1 depicts drillholes GL26024, GL26028, GL26030 and GL24014 and GL26029 in relation to the historic Gochager Lake Deposit. Zones of off-hole BHEM conductivity are highlighted. Figure-2: Drill core photos GL26028 & GL26029 To view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/7843/302654_f8a91c...

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