Fathom Nickel Announces Assays from Metasedimentary Hosted Nickel-Copper-Cobalt Mineralization at the Gochager Lake Project

About this update from Fathom Nickel, Inc.

Calgary, Alberta--(Newsfile Corp. - June 10, 2026) - Fathom Nickel Inc. (CSE: FNI) (FSE: 6Q5) (OTCQB: FNICF) ('Fathom", or the "Company") is pleased to announce that nickel-copper-cobalt assays from metasedimentary-hosted mineralization suggest a new geologic model for the historic Gochager Lake deposit and a greatly expanded geological footprint. Phase-2 drilling currently underway is further testing this new discovery and new geologic model. Ian Fraser, Fathom CEO and VP Exploration, stated, "Intersecting nickel-copper-cobalt in metasediments in drillhole GL26025 was a complete surprise. We have spent the last couple of weeks digesting this new information and have come to the realization that the metasedimentary rocks engulfing the "Gochager" intrusive rocks are now very prospective for nickel-copper-cobalt mineralization. The metasediment-hosted mineralization is the result of nickel-copper-cobalt being transposed from the original mafic intrusive rocks into the adjacent metasedimentary rocks. This makes the contact of mineralized metasediments with Gochager Lake intrusive rocks a new, very prospective exploration target. This development has introduced a new geological model for the historic Gochager Lake deposit and has expanded the project footprint tremendously. Specifically, this recent development is akin to a Thompson Nickel Belt geological model, where nickel-copper-cobalt mineralization occurs in both intrusive rocks and, in some instances, predominantly in metasedimentary rocks. We look forward to testing this new hypothesis during the current drill program." Table-1 GL26025 Metasedimentary-hosted Mineralization Drillhole From (m) To (m) Interval (m)* Ni wt%** Cu wt% Co wt% GL26025 132.04 132.45 0.41 1.10 0.23 0.12 within 132.04 133.81 1.77 0.49 0.20 0.05 within 126.59 133.81 7.22 0.34 0.15 0.04 GL26025 160.10 168.30 8.20 0.24 0.12 0.03 *Interval (m) are downhole intervals and not true thickness. Insufficient data currently to determine true thickness.**A ≥ 2000 ppm Ni cut off was used to calculate mineralized interval. The mineralized metasediments in GL26025 are in sharp contact with barren (<1000 ppm Ni) intrusive rock (gabbro) and form a metasedimentary package within gabbro measuring 79.10 meters (drillhole thickness). A strong borehole electromagnetic (BHEM) anomaly occurring at ~ 180 meters down the drillhole and positioned below a...

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