Fathom Nickel Inc.

Company Data | Introduction | Projects in Hand | Management
News Update | Chinese

Company Data

Introduction

Fathom Nickel is an exploration company that is targeting magmatic nickel sulphide discoveries to support the rapidly growing global electric vehicle market.

The Company now has a portfolio of two high-quality exploration projects located in the prolific Trans Hudson Corridor in Saskatchewan, Canada: 1) the flagship Albert Lake Project, a 90,000+ hectare project that was host to the historic and past producing Rottenstone deposit (produced high-grade Ni-Cu+PGE, 1965-1969), and 2) the Gochager Lake Project, a 19,342-hectare project that is host to a historic, NI 43-101 non-compliant open pit resource consisting of 4.3M tons at 0.295% Ni and 0.081% Cu.

• Fathom Nickel is an Exploration Company Focused on Discovering Battery Metals to Support the Green Economy
• Exploration Focused on Two Historic Nickel Sulphide Deposits in Saskatchewan; Top Tier Mining Jurisdiction
• Fathom’s Properties Located in the Trans Hudson Corridor in Saskatchewan – host to numerous world-class Nickel mining camps including Thompson Nickel Belt (operating), Lynn Lake (depleted), and Raglan Nickel Belt (operating)
• Saskatchewan is relatively underexplored jurisdiction for Nickel, and VMS-type Deposits
• New Discovery at Flagship Albert Lake Project a 300m Mineralized Corridor Similar to Past Producer of Ni-Cu-PGE
• Recently Optioned Gochager Lake Nickel Project and acquired the neighboring Watts Lake Property. Gochager Lake project host to historic Open Pit Resource (NI 43-101 non-compliant) Estimated 25M lbs of Nickel at 0.30% Ni with Cu+Co Credits. Watts Lake property host to a (NI 43-101 non-compliant) Borys Lake Zn-Pb+Ag deposit
• Both Projects Open For Resource Expansion and New Discoveries

Projects in Hand

Albert Lake Nickel Project, Saskatchewan

Project Highlights

• Well-situated land package of 91,860 hectares in Trans Hudson Corridor – host to numerous world-class mining camps
• Recently added to disposition by staking the “strategic” Tremblay-Olson mineral claims
• Included in the Albert Lake Project is the historic Rottenstone Mine, a high-grade, open pit Ni Sulphide past producer with an average grade of 3.28% Ni, 1.83% Cu, 9.63 g/t Pd-Pt+ Au (one of the highest-recorded nickel grade nickel mines in Canada)
• Tremendous opportunity to expand the historic deposit and discover other deposits like it.
• Albert Lake Geological Model supports variable size, high-grade Ni Sulphide deposits similar to other world-class Magmatic nickel sulphide deposits.
• Post-production drilling confirms the deposit remains open along strike; south-southwest of historic mine.
• Multiple high-quality, drill-ready targets with similar geochemical / geophysical signatures to the historic Rottenstone Deposit.
• Fathom funded exploration programs in 2016, 2018, 2021 and 2022
• Recently identified 300+ metre nickel mineralization corridor
• Validates thesis that Rottenstone does not exist in isolation
• Planning – 2023 Field Programs to focus on Tremblay-Olson & Nic-5 area with possible drilling to occur in the fall 2023.
• Q1-2024 drilling will focus on historic Rottenstone deposit area, the north extension of Bay-Island Trend and the North Rottenstone extension.
• The Tremblay-Olson Claims area (Nic-5 and Tremblay-Olson) had returned the highest concentration of metals-in-soil collected to date at the Albert Lake Property (See Press Release Jan. 17, 2023).

Gochager Lake Nickel Project, Saskatchewan

• Nickel-Copper-Cobalt project consisting of 19,342 hectare in north-central Saskatchewan.
• Approx. 75 km north of the town of La Ronge
• Estimated 149+ historic drillholes totaling ~27,000 meters, drilled 1966-1970 and defined the historic Gochager Lake deposit
• Historic Nickel-Copper-Cobalt open pit resource with significant exploration potential
• No drilling activity since 1989-1990
• Zero follow-up of conductors defined by 2008 VTEM survey
• Historically, inconsistent assaying for Co and very little PGE analysis
• No use of Borehole EM – the “Nickel Finder”
• BHEM led to discovery of 300+ meter corridor at Albert Lake Property in 2021-2022
• Q1-2023 drill program at Gochager Lake Project completed
• 2 Drill holes completed at Gochager; both intersected broad zones of disseminated, semi-massive to massive sulphide mineralization.
• Fathom Nickel has signed an agreement with SKRR Exploration Inc. dated March 21, 2023, to acquire the Watts Lake mineral claims. Watts Lake consists of 24 mineral claims totalling 13,708 hectares that are entirely contiguous with Fathom's Gochager Lake property. The addition of Watts Lake brings Fathom's total land package at the Gochager Lake nickel project to 19,342 hectares.

Ian Fraser, chief executive officer and Vice-President of exploration, stated: "We have created a solid, contiguous land package that connects the historic Gochager Lake nickel deposit with the Mal Lake nickel occurrence. Based on the results thus far at Gochager, we feel Mal Lake is an analogous nickel occurrence. The new land package encompasses a much greater area of the 2008 VTEM survey. The Company's geophysical consultants have now recognized a plethora of Gochager-Lake-like geophysical signatures within both the Gochager claim area and the newly acquired Watts Lake claims. While Fathom's focus is nickel, Watts Lake also includes Borys Lake, a VMS (volcanogenic massive sulphide) style zinc-lead+silver deposit. VMS mineralization within this overall contiguous mineral package speaks to the potential of a significant metal endowment in the land package and the tremendous exploration potential of this combined land package."

Management

Management and Directors

Ian Fraser, P.Geo., CEO, Vice President of Exploration, Director

Co-founder of Fathom Nickel, 35+ years of mineral exploration, managing/implementing exploration programs in Canada and internationally

Successes include: resource interpretation/development Casa Berardi Gold Mine, Komis Gold Mine, Byers Gold Belt, Canada, Cisneros Gold Mine, Colombia

Doug Porter, CPA, CA, President, CFO, Director

Senior Financial/ Accounting executive with specific emphasis in resource company management

Successes include: Elan Coal Ltd., Altitude Resources Ltd., StimWrx Oilfield Services Ltd.

John Morgan, B.Sc. (Geo.), Director

Senior mining executive with over 35 years of experience with increasing responsibility in managing both domestic and international mining operations

Director with Grande Cache Coal

Co-founder and executive of Atlantic Gold

Mark Cummings, CPA, CA, Director

Senior executive with considerable hands on experience in operations, human resources, corporate governance and general management roles

Expertise includes financial and operational restructuring and turnarounds

Currently the Chief Executive Officer of Zavida Coffee Co., a portfolio company of BDG Capital

Eugene Chen, Director

Partner at McLeod Law LLP with over 25 years experience as a securities, corporate finance, and mergers & acquisitions lawyer

News Update

On April 02, 2024, Fathom Nickel Inc. has provided an update to the continuing Gochager Lake drill program. Through March 30, 2024, the Company has completed four (4) drillholes totalling 1,779 meters drilled. Drilling is anticipated to be completed by the second week of April and complete assays results are expected by the last week of May.

The current drill program at Gochager Lake was designed to test continuity of mineralization outside the known boundaries of the historic deposit - both at depth and along strike. The first four drillholes of the campaign have all intersected significant mineralization and semi-massive mineralization has been confirmed to depths of 423 meters (drillhole depth), the deepest known mineralization to date at Gochager Lake. Drillhole GL24014, the furthest west hole drilled to date, also intersected significant zones of mineralization, providing further proof the deposit remains open to the west. We can also confirm, based on geology and on the identification of off-hole conductors recognized through borehole electromagnetic probes ("BHEM"), that the deposit remains very much open to depth.

On March 13, 2024, Drilling has been completed at Fathom Nickel Inc.'s 100-per-cent-owned Albert Lake project and drill and crews have mobilized to the Gochager Lake project. Drilling commenced at the Gochager Lake project on March 12 and is expected to continue through mid-April, 2024. Summary of the Albert Lake project drill program is as follows:

• Six holes were drilled amounting to 1,386 metres drilled.
• Drill hole AL24075, the first drill hole of the program, was designed to test the very robust electromagnetic-coincident gravity anomaly. The drill hole intersected multiple zones of elevated sulphide mineralization from 295 to 348.5 m. The host rock was not mafic/ultramafic in composition and portable X-ray fluorescence scans of the mineralization suggest the mineralization is not that of a magmatic sulphide source.
• The semi-massive to locally massive sulphide mineralization hosted within sediment-hosted sulphidic iron formation does explain the strong EM conductivity and the gravity feature targeted.
• The other five drill holes focused on weaker EM features coincident with local strong multielement soil geochemistry results. Multiple zones of varying conductivity were identified by BHEM (borehole EM) surveys and within the detailed EM grids surveyed during the program. Several of these zones coincide with interpreted mafic/ultramafic intersections from the drilling and are worthy of more follow-up surface exploration and drilling.
• Assay results are expected by mid- to late April, 2024, and the company will provide a complete summary of the Albert Lake program once assays are in hand.

Ian Fraser, chief executive officer and vice-president, exploration, stated: "Although we are disappointed the significant sulphide mineralization encountered in the first drill hole appears to be not magmatic in origin, we are encouraged that the remainder of the drill program did identify several, shallow weak to moderate zones of conductivity by BHEM and by our detailed surface EM grids. Some of these zones are coincident with zones of mafic-ultramafic rock intersected in our drill program. However, the robust soil geochemical anomaly that was our focus remains unexplained and eminently worthy of future exploration. Given the shallow nature of several of these new targets (less than 100 m below surface) it is suggestive that this anomaly is perhaps a culmination of several shallow sources. In this new scenario we felt further detailed surface work is required to target them appropriately. Furthermore, drilling these new, shallow targets with a helicopter-supported drill would be a very inefficient use of exploration dollars and investor capital. Based on this, the company made the decision to cut the Albert Lake project drill program short of the intended metreage and use these extra metres at the Gochager Lake project drill program. Future drilling of these new, shallow Albert Lake targets will utilize a smaller track- or skid-mounted drill providing a greater degree of flexibility and in the process a much more cost-effective approach versus the helicopter-supported methodology deployed in the most recent drill program."

On February 20, 2024, Fathom Nickel Inc. has closed the second and final tranche of its non-brokered offering of flow-through (FT) units and non-flow-though units, previously announced on Dec. 4, 2023. Pursuant to the offering, upon closing of the second tranche, the company issued 10,808,974 non-flow-through units (NFT units) at a price per NFT unit of 11 cents, for gross proceeds of $1,188,987. Combined with the first tranche of the financing that closed on Dec. 22, 2023, the total gross proceeds raised under the offering was $4,571,063.

The net proceeds of the offering from the NFT units will be used for exploration and development of the company's mineral projects, and for working capital and general corporate purposes.

On February 08, 2024, Fathom Nickel Inc. has begun drilling at the company's 100-per-cent-owned Albert Lake project. Mobilization of drilling equipment was scheduled to commence February 2nd but due to harsh weather conditions mobilization did not commence until February 4th. The Company is pleased to report weather conditions have normalized and the drilling of the first hole has commenced.

The Company is planning approximately 2,000 meters of drilling (5-7 drillholes) to further test, and potentially, determine the source of the very robust, multi-element soil geochemical anomaly occurring at the Tremblay-Olson claim area. Additional drill targets will be derived from the 2024 TDEM surveys.

A similar-sized campaign is planned for the Gochager Lake project immediately following the completion of the Albert Lake program.

Ian Fraser, CEO and VP Exploration stated, "To experience fog and +8degree C weather conditions at Rottenstone Lake during the last week of January is very unusual. Now that things have normalized, our crews have worked very hard to make up for lost time and have now initiated the first drillhole. We eagerly anticipate results of the first two EM grids. We are very encouraged that the AirTEM survey flown in 2022 recognizes elevated magnetic intensity directly associated with the Bay-Island Trend discovery (300+ meters of continuous ultramafic hosted Ni-Cu-Co + 3PE mineralization) occurring ~500 meters northwest of the historic Rottenstone Mine. We now recognize a similar MAG signature trending immediately southwest of the Rottenstone Mine. Once the EM data has been collected and interpreted over this area and at the Middle grid, we anticipate additional drill targets developing. We are pleased that drilling has commenced and we very much look forward to the results from this very interesting drill campaign."

On January 16, 2024, The winter exploration program at Fathom Nickel Inc.'s 100-per-cent-owned Albert Lake project will commence during the last week of January.

The geophysics team and drill contractor are expected to arrive at the Albert Lake property on or about January 29th. Drilling is expected to commence during the first week of February. Drilling will focus on the Tremblay-Olson Claims area, approximately two km southwest of the historic Rottenstone Mine, where the Company has identified a very robust time domain electromagnetic (TDEM) conductor (see Press Release August 14, 2023) occurring on the eastern flank of a very robust multi-element-in-soil anomaly (see Press Release January 17, 2023). The 4-week drill program is anticipated to include between five and seven drillholes for a total of 2,000-2,500 meters.

On December 22, 2023, Fathom Nickel Inc. has closed the first tranche of its non-brokered offering of flow-through units and non flow-though units (the "Offering"), previously announced on December 4, 2023. Pursuant to the Offering the Company issued 23,213,431 flow-through common units (the "FT Units") at a price per FT Unit of $0.13 (the "FT Price") for gross proceeds of $3,017,746, and 3,312,095 non-flow through Units (the "NFT Units") at a price per NFT Unit of $0.11 (the "NFT Price") for gross proceeds of $364,330. Combined gross proceeds of the Offering was $3,382,076. The second tranche of the Offering, expected to be a combination of approximately $1,200,000 charity flow-through units and NFT Units, is expected to close during the second week of January 2024.

The gross proceeds of the flow-through portion of the Offering will be used by the Company to incur eligible "Canadian exploration expenses" that will qualify as "flow-through mining expenditures" as such terms are defined in the Income Tax Act (Canada) (the "Qualifying Expenditures") related to the Company's Albert Lake Project and the Gochager Lake Project which are located in Saskatchewan, Canada on or before December 31, 2024. All Qualifying Expenditures will be renounced in favour of the subscribers effective December 31, 2023. The net proceeds of the Offering from the NFT Units will be used for exploration and development of the Company's mineral projects and for working capital and general corporate purposes.

On December 04, 2023, Fathom Nickel Inc. has arranged a non-brokered private placement financing for aggregate gross proceeds of up to $4.5-million. The offering will consist of a combination of: (i) charity flow-through (FT) units at 17 cents per charity FT unit; (ii) flow-through units at 13 cents per FT unit; and (iii) hard dollar units at 11 cents per HD unit of the company.

"The proceeds from this financing will allow Fathom to recommence field exploration programs at both the Gochager Lake project and the Albert Lake project in Q1 2024. The focus of the Gochager Lake project exploration program will be following up on the positive results from our recent drill program -- most notably the growing inventory of conductive targets at depth as well as the off-hole conductor associated with the zone of massive sulphides encountered in drill hole GL23008," stated Doug Porter, president and chief financial officer. "We are also very eager to drill test the 450-metre by 150 m conductor identified during our summer 2023 geophysical program at the Albert Lake property. This conductor occurs coincident with both a pronounced gravity anomaly as well as highly anomalous metals-in-soil samples in the area of the Tremblay-Olson/Nic5 area at the project. Q1 2024 will be an exciting time for FNI shareholders as we continue to advance our two highly prospective projects," he added.

On November 21, 2023, Fathom Nickel Inc. has released assay results from the seven-hole September drill program completed at the historic Gochager Lake deposit within the company's 22,620-hectare Gochager Lake project. Highlights:

• Continuous nickel-copper-cobalt mineralization occurs in broad halos, which host steeply oriented chutes of very conductive, semi-massive sulphide mineralization grading approximately 1 per cent to 3 per cent nickel.
• Drilling continues to confirm that zones of greater than 1 per cent nickel are associated with zones of high conductivity, as defined by borehole electromagnetic (BHEM) surveys.
• A massive sulphide vein intersected in GL23008 returned 3.25 per cent nickel over 0.64 metre; very strong and complex off-hole conductivity (BHEM) responses from this drill hole suggest additional mineralization of this type and grade occurs proximal to this intercept.
• Semi-massive sulphide mineralization intersected at approximately 335 metres below surface remains open to depth.
• Nickel tenor calculations suggest Gochager Lake mineralization tenor of approximately 3.5 per cent (Ni100), which is comparable with nickel tenors within the Sudbury nickel camp.

On November 14, 2023, Fathom Nickel Inc. has provided an exploration update for the recently completed drilling at the company's Gochager Lake project. The Company was recently informed that final assay results should be completed within the next 10 days.

Awaiting the assays, the Company has been actively evaluating and interpreting the preliminary results, including pXRF data and borehole electromagnetic data (BHEM). The drillholes completed to date at the Gochager Lake project have intersected multiple zones of semi-massive sulphide mineralization that is both very nickeliferous and very conductive. The zones of semi-massive sulphides occur within a steeply plunging, "chute-like" orientation, within a broad halo of nickel-bearing, disseminated sulphide mineralization. This validates Fathom's exploration thesis that within the historic Gochager Lake deposit1, previously unrecognized steeply oriented, high-grade nickel-copper-cobalt bearing chute(s) exist within a very broad halo of nickel-bearing disseminated sulphide mineralization. Furthermore, and perhaps more importantly, there is building evidence, based on both BHEM data and the occurrence of multiple examples of massive sulphide veins isolated from the disseminated halo mineralization, that there is a potential "feeder" system/zone of significant massive sulphides proximal to drillholes completed to date.

On September 28, 2023, Fathom Nickel Inc. has completed the fall 2023 drill program at the historic Gochager Lake deposit within the company's 22,620-hectare Gochager Lake project. Highlights:

• Seven drill holes completed, totalling 2,168 metres.
• Semi-massive and massive sulphides intersected in GL23005 and GL23010, extending the nickel-copper-cobalt (Ni-Cu-Co) mineralization intersected in GL23003 (see press release dated April 12, 2023) both up and down plunge.
• Disseminated, interstitial, net-textured, semi-massive sulphide mineralization occurring at 304 metres to 384.5 metres in GL23009, significantly extends the historic Gochager Lake deposit at depth.
• Massive sulphide veins observed cross-cutting the gabbro host rock throughout the drilled area.
• Multiple off-hole borehole electromagnetic (BHEM) responses detected in all drill holes and BHEM surveys suggest significant conductivity build up at depth.
• Two strong off-hole BHEM anomalies associated with favourable host rocks encountered in drill hole GL23011, located approximately 400 metres northeast of the Gochager Lake deposit.

On August 14, 2023, Fathom Nickel Inc. has provided an exploration update for the company's 100-per-cent-owned Albert Lake project.

Geophysical crews recently completed a time domain electromagnetic (TDEM) survey within the Tremblay-Olson Claims Area where a very robust multi-element-in-soil anomaly has been identified (see Press Release January 17, 2023). Interpretation of this TDEM data is ongoing and being incorporated with other TDEM data sets along with other geophysical, geochemical, and geological data sets. Preliminary TDEM results are as follows.

TDEM highlights include:A very strong TDEM conductor occurs approximately 1,000 meters south-southwest of the historic Rottenstone Mine/deposit. Modelling of this conductor suggests a very conductive, flat lying body with an area that is approximately 450m x 150m and is situated approximately 300 meters below surface.

On July 25, 2023, Fathom Nickel Inc. has provided an update on recently completed surface time-domain electromagnetic (TDEM) and borehole electromagnetic (BHEM) geophysical programs at its Gochager Lake Project.

Geophysical surveys completed include a second phase of borehole electromagnetic (BHEM) surveys (see Press Release June 28, 2023) and a surface time domain electromagnetic (TDEM) survey over the area of, and along strike of the historic Gochager Lake deposit. TDEM and BHEM highlights include:

• The TDEM survey covered approximately 1km2 and defined a moderate-strength zone of conductivity directly over top of the historic Gochager Lake deposit.1 This conductive trend extends both to the SW and to the NE of the deposit area.
• In addition, newly identified zones of conductivity occur to the north, north-northeast, and east-southeast of the Gochager Lake deposit area.
• Internal lithostructural interpretation of the 2008 VTEM survey recognizes the Gochager Lake deposit occurs on the axis of a major fold. The hinge zone of the fold occurs immediately to the southwest of the Gochager Lake deposit.
• Directly along strike of the Gochager Lake deposit and on the interpreted fold axis, a moderate strength, untested VTEM anomaly occurs, and the TDEM survey confirms the untested VTEM anomaly is very "Gochager-like" . The second phase of BHEM surveys utilized multiple loop configurations to change coupling angles for each hole surveyed and to ultimately better image the conductivity zones recognized in the first phase of BHEM. Both BHEM programs have identified at least 4 separate conductive zones in the area of Fathom's Q1-2023 drilling, with several lying outside the historical Gochager Lake deposit.

On July 10, 2023,Fathom Nickel Inc. has made a further increase in the company's land position at the Gochager Lake project. The company recently acquired, through direct staking, the 3,060-hectare disposition MC00017403. This brings the company's total contiguous land package at Gochager Lake to 22,620 hectares.

The new disposition is located approximately three kilometres due south of the site of Fathom's recent Gochager Lake exploration program. The new disposition falls within the area of interest clause of the Gochager Lake option agreement, and, thus, the land position covered under the option agreement has now increased by 3,060 hectares.

"The addition of the new disposition at Gochager Lake adds to our growing interest in this regional play," commented Ian Fraser, chief executive officer and vice-president, exploration. "The acquisition of the new disposition is important for a couple of reasons. First, it ensures that Fathom's land package now fully encompasses 13 of the 15 high-priority targets recently identified by our structural interpretation of the historic 2008 VTEM [versatile time-domain electromagnetic] survey. Secondly, it provides an additional buffer in the area of the Mal Lake nickel occurrence, where a 1967 drill hole intersected 1.12 per cent nickel [and] 0.24 per cent copper over 7.9 metres. The Mal Lake nickel occurrence exhibits similar characteristics to the Gochager Lake deposit, located 10 kilometres to the northwest."

On June 28, 2023, Fathom's inaugural exploration campaign, completed in February, 2023, consisted of two drill holes (GL23-003 and GL23-004 -- see press release April 12, 2023) designed to confirm the continuity of mineralization outlined from historical drilling on the property. This campaign also marked the very first time that time domain borehole (BHEM) electromagnetics had been trialed on the property and the results were very successful in defining the high conductance nature of the nickel-bearing sulphides associated with this deposit.

The historic Gochager Lake deposit geometry, which is largely based on vertical drill holes, appears to be steeply dipping and the original BHEM surveys were designed with this geometry in mind. However, the complexity of response patterns observed suggested other possible geometries were evident and efforts to further resolve these is now the focus of this summer's exploration campaign. To date, BHEM data have been collected utilizing one of three designed loops; fieldwork on the other two loops continues. Geophysical analysis and interpretation will be continuing throughout the program. An exciting example of preliminary results/interpretation is evidenced by observations from drill hole GL18001. Highlights:

• Preliminary BHEM highlights include:
• Off-hole responses building at the end of drill holes GL-89-03, GL18001 and GL23004.
• Strong off-hole conductors in GL18001 occur directly below and above known mineralization (1.96 per cent Ni/2.7 metres; 126.7 to 129.4 m) occurring in the drill hole.
• High conductance off-hole response at about 160 m and about 190 m in GL18001.
• Off-hole conductors in GL18001 occur in areas not previously tested by drilling.

On June 12, 2023, Fathom Nickel Inc. has closed the second and final tranche of its upsized non-brokered offering of flow-through units and non-flow-though units, previously announced on May 8, 2023. Pursuant to the upsized offering the company issued 7,894,737 charity flow-through common units at a price per charity FT unit of 19 cents for gross proceeds of $1.5-million. Together with the previously closed first tranche (see release dated May 31, 2023), the total gross proceeds of the upsized offering are $2,956,400.

On June 01, 2023, With the final cash payment of $75,000, Fathom Nickel Inc. has now fulfilled all requirements under the agreement to acquire the Watts Lake mineral claims from SKRR Exploration Inc., dated March 21, 2023. As a result, Fathom now holds 100% of Watts Lake, consisting of twenty-four (24) mineral claims totalling 13,708 hectares. Watts Lake, together with the lands covered by the original Gochager Lake Option Agreement and subsequent staking (ten [10] mineral claims in all, totalling 5,851 hectares) now encompasses a contiguous land package of 19,559 hectares, collectively referred to as the "Gochager Lake Property".

Ian Fraser, CEO and VP Exploration, stated, "With the acquisition of Watts Lake now complete, we have begun the process of incorporating the historic exploration data obtained as part of the Acquisition Agreement with our modeling and data information system covering the original Gochager Lake dispositions. We are particularly excited to assess the Watts Lake ground that is covered by the historic 2008 VTEM survey. Based on initial analysis of the VTEM survey area, our geophysical consultants have now identified 11 prospective nickel targets away from the historic Gochager Lake deposit. These have become high-priority areas (areas not previously explored), for additional geophysics/geological mapping, prospecting, soil geochemistry and, ultimately, drilling as we continue our exploration work at Gochager Lake. We will also begin analysing the Borys Lake VMS-style Pb-Zn deposit occurring within the Watts Lake ground. The VMS mineralization, coincident with the known magmatic Ni sulphide mineralization at the Gochager Lake deposit and Mal Lake occurrence within this contiguous property, speaks to the potential of a significant metal endowment and the tremendous exploration potential of this combined land package".

On May 31, 2023, Fathom Nickel Inc. has closed the first tranche of its upsized non-brokered offering of flow-through units and non-flow-though units, previously announced on May 8, 2023. Pursuant to the upsized offering the company issued 5,266,000 flow-through common units at a price per FT unit of 15.5 cents for gross proceeds of $816,230, and 4,742,000 non-flow-through units at a price per NFT unit of 13.5 cents for gross proceeds of $640,170. Combined gross proceeds of the upsized offering were $1,456,400. The second tranche of the upsized offering, comprising $1.5-million charity flow-through units, is expected to close on or about June 7.

May 8, 2023, Fathom Nickel Announces Upsizing of Previously Announced Private Placement to $3 Million

https://fathomnickel.com/fathom-nickel-announces-upsizing-of-previously-announced-private-placement-to-3-million/

May 5, 2023, Fathom Announces Receipt of Assays from the Limited Two-Hole Drilling Program Completed at the Albert Lake Project. Assay and pXRF results recorded from drillholes AL23073 and AL23074 demonstrate anomalous Ni with associated mafic-ultramafic pathfinder elements Cr and Mg.

https://fathomnickel.com/fathom-announces-receipt-of-albert-lake-assays/

April 28, 2023, Fathom Nickel Announces $2 Million Private Placement Including Strategic Participation by Crescat Capital LLC

https://fathomnickel.com/fathom-nickel-announces-2-million-private-placement-including-strategic-participation-by-crescat-capital-llc/

April 12, 2023, Fathom Intersects 2.43 % Nickel and 0.18% Cobalt Over 18.10 Meters at the Gochager Lake Property

https://fathomnickel.com/fathom-intersects-2-43-nickel-and-0-18-cobalt-over-18-10-meters-at-the-gochager-lake-property/

March 28, 2023, Fathom has released the preliminary modelling of several robust off-hole, borehole electromagnetic (BHEM) conductors associated with five drill holes (two recent and three historic) at the Company's Gochager Lake project, and provides further project updates.

https://fathomnickel.com/fathom-models-robust-bhem-off-hole-conductors-at-gochager-lake-property-and-provides-further-project-updates/

March 22, 2023, Fathom Announces Strategic Acquisition of Watts Lake Mineral Claims, More Than Tripling the Contiguous Land Package at the Company's Gochager Lake Nickel Project

https://fathomnickel.com/fathom-announces-strategic-acquisition-of-watts-lake-mineral-claims-more-than-tripling-the-contiguous-land-package-at-the-companys-gochager-lake-nickel-project/

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