Fathom Announces Commencement Of Summer Drill Program At The Gochager Lake Project

June 03, 2026 7:59 AM EDT | Source: Fathom Nickel Inc.

Calgary, Alberta--(Newsfile Corp. - June 3, 2026) - Fathom Nickel Inc. (CSE: FNI) (FSE: 6Q5) (OTCQB: FNICF) ( 'Fathom", or the " Company ") is pleased to announce that the Phase-2 summer drill program at the Gochager Lake project is underway. The Company anticipates drilling 6 - 10 drillholes for a total of approximately 3,000 meters.

Ian Fraser, Fathom CEO and VP Exploration, stated, "The Phase-2 summer drill program is designed to follow up on results from the seven-hole, 2,143-meter Phase-1 winter program completed in late March. Phase-1 drilling identified a new metasediment-hosted zone of nickel-copper-cobalt mineralization approximately 500 metres east of the historic Gochager Lake deposit. Mineralization intersected in drillhole GL26025 is the first recorded nickel-copper-cobalt zone hosted in metasedimentary rocks at the project, indicating that metasedimentary rocks surrounding the gabbroic host of the Gochager Lake deposit can also host significant nickel-copper-cobalt mineralization. Phase-2 drilling will further test the mineralization intersected in GL26025 and follow up on multiple strong borehole electromagnetic (BHEM) off-hole anomalies identified in both metasedimentary and gabbroic rocks from the Phase-1 program."

The Company is fully funded to complete the proposed 3,000-meter program. The cost efficiencies realized from the utilization of the winter trail has allowed the Company to drill an additional 1,000 meters over the originally proposed 4,000-meter drill program (Phase 1 and 2 combined) [See Fathom Press Release April 7, 2026]. It is expected that assay results from the Phase-1 drill program will be released in the coming days.

Figure 1 illustrates location of drillholes from the Phase-1 program and areas of significant off-hole BHEM conductors. Figure 2 illustrates metasedimentary hosted nickel-copper-cobalt mineralization intersected in drillhole GL26025.

Figure-1: Phase-1 Drillhole Location Map illustrating areas of significant off-hole BHEM conductivity (green triangles)
To view an enhanced version of this graphic, please visit:

Figure 2: A) GL26025 Ni-Cu-Co¹ sulphide breccia mineralization in metasediment within 128.00-128.80-meters sample interval. B) GL26025 Ni-Cu-Co¹ mineralization in strongly altered (metasomatized) metasediments within 133.42-133.81-meter sample interval. C) GL26025 Ni-Cu-Co¹ breccia and stringer mineralization in metasediment within 160.10-160.97-meter sample interval, and D) GL26025 Ni-Cu-Co¹ foliation parallel, breccia mineralization in metasediment within 182.83-183.12-meter sample interval.
To view an enhanced version of this graphic, please visit:

Quality Assurance / Quality Control (QA/QC) Disclosure Statement

As part of its ongoing exploration activities, Fathom is utilizing a portable VantaTM XRF Analyzer ("pXRF") to provide real-time lithogeochemical, multi-element data on surface rock chip samples and rock grab samples collected in the field. The VantaTM XRF Analyzer is a hand-held device, held in position for a total 120 seconds - beam 1 (30 seconds), beam 2 (60 seconds) and beam 3 (30 seconds) to allow for an effective reading of elements occurring at that specific point, and at that specific surface of a rock or drill core sample. All elements detected at that specific point; nickel, copper, cobalt (Ni-Cu-Co) plus key pathfinder elements, chrome and magnesium (Cr-Mg), are recorded. The reader is cautioned that pXRF data should be treated only as an indication of elements, as the accuracy of the beam position on a particular element is variable.

1 - The determination of magmatic Ni-Cu-Co sulphide mineralization is based on multiple spot pXRF analyses in areas where drilling intersected significant zones of sulphide mineralization and the pXRF has detected the presence of Ni-Cu-Co mineralization. The reader is further cautioned pXRF values are very sensitive to spot location and are not a proxy for assay results. Furthermore, anomalous is defined by Ni values in the Fathom drilling pXRF data base ≥ 90^th percentile (1325 ppm Ni). As stated above assay results for Phase-1 drilling will be released in the coming days.

Qualified Person and Data Verification

Ian Fraser, P.Geo., CEO, VP Exploration and a Director of the Company and the "qualified person" as such term is defined by National Instrument 43-101, has verified the data disclosed in this news release, and has otherwise reviewed and approved the technical information in this news release on behalf of the Company.

About Fathom Nickel Inc.

Fathom is an exploration company that is targeting magmatic nickel sulphide discoveries to secure the supply of North American Critical Minerals and to support the global green energy transition. The Company now has a portfolio of three high-quality exploration projects located in the prolific Trans Hudson Corridor in Saskatchewan, Canada: 1) The Albert Lake Project, a 90,000+ hectare project that hosts the historic Rottenstone Mine; 2) The 33,000+ hectare Gochager Lake Project that hosts the historic Gochager Lake deposit, and 3) The 10,000+ hectare Friesen Lake Project located 40km southwest of the historic Rottenstone Mine and 30km northwest of the historic Gochager Lake deposit.

MENAFN03062026004218003983ID1111205447