First Atlantic Closes No-Warrant Non-Brokered Private Placement Financing to Advance Pipestone Xl Atlantic Canada Nickel-Cobalt Alloy (Awaruite) Project Grand Falls-Windsor, Newfoundland and Labrador
FIRST ATLANTIC CLOSES NO-WARRANT NON-BROKERED PRIVATE PLACEMENT
FINANCING TO ADVANCE PIPESTONE XL ATLANTIC CANADA NICKEL-COBALT ALLOY
(AWARUITE) PROJECT
GRAND FALLS-WINDSOR, Newfoundland and Labrador, March 11, 2026 - First Atlantic Nickel Corp.
(TSXV: FAN) (OTCQB: FANCF) (FSE: P21) (“FAN” or the “Company”) is pleased to announce that it
has closed a non -brokered private placement (the “Offering”) of flow -through common shares only,
without warrants, for aggregate gr oss proceeds of $1,300,000.32 from the sale of 4,814,816 flow -
through common shares of the Company (each, a “FT Share”) issued at a price of $0.27 per FT Share
on a “flow-through” basis pursuant to the Income Tax Act (Canada).
All securities issued in connection with the Offering will be subject to a hold period of four months and
one day following the closing of the Offering under applicable Canadian securities laws. The Offering
remains subject to receipt of final approval from the TSX Venture Exchange.
The proceeds of the Offering will be used to advance exploration and development on the Company’s
Pipestone XL Nickel -Cobalt Alloy Project and Ophiolite X Project located in Newfoundland, 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”), on or before
December 31, 2027. All Qualifying Expenditures will be renounced in favour of the subscribers effective
December 31, 2026.
The Company intends to use the proceeds to conduct large-scale district drilling within the 30km strike
length of the Pipestone XL Nickel-Cobalt Alloy Project, expand the RPM zone, test newly identified drill
targets, and advance the scope and scale of its metallurgical recovery and processing program.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any securities in
the United States. The securities have not been and will not be registered under the United States
Securities Act of 1933, as amended (the “U.S. Securities Act”), or any applicable state securities laws,
and may not be offered or sold within the United States or to U.S. persons unless registered under the
U.S. Securities Act and applicable state securities laws, or an exemption from such registratio n is
available.
Please call 844-592-6337 or email [email protected] to connect with Rob Guzman, First Atlantic
Nickel's Investor Relations, for questions or more information.
Investor Information
The Company's common shares trade on the TSX Venture Exchange under the symbol " FAN", the
American OTCQB Exchange under the symbol "FANCF" and on several German exchanges, including
Frankfurt and Tradegate, under the symbol "P21".
Investors can get updates about First Atlantic by signing up to receive news via email and SMS text at
www.fanickel.com.
Investors are invited to sign up for the official FAN (First Atlantic Nickel) List found at www.fanickel.com
and can follow First Atlantic Nickel on the following social media.
FOR MORE INFORMATION:
First Atlantic Investor Relations
Robert Guzman
Tel: +1 844 592 6337
Disclosure
Adrian Smith, P.Geo., a director and the Chief Executive Officer of the Company is a qualified person
as defined by NI 43 -101. The qualified person is a member in good standing of the Professional
Engineers and Geoscientists Newfoundland and Labrador (PEGN L) and is a registered professional
geoscientist (P.Geo.). Mr. Smith has reviewed and approved the technical information disclosed herein.
ABOUT FIRST ATLANTIC NICKEL CORP.
First Atlantic Nickel Corp. (TSXV: FAN) (OTCQB: FANCF) (FSE: P21) is a critical mineral exploration
company in Newfoundland & Labrador developing the Pipestone XL Nickel -Cobalt Alloy Project. The
project spans the entire 30- kilometer Pipestone Ophiolite Complex, where multiple zones, including
RPM, Super Gulp, Atlantic Lake, and Chrome Pond, contain awaruite (Ni ₃Fe), a naturally occurring
magnetic nickel-iron-cobalt alloy of approximately ~75% nickel with no-sulfur and no-sulfides, along with
secondary chromium mineralization. Awaruite's sulfur -free composition removes acid mine drainage
(AMD) risks, while its unique magnetic properties enable processing through magnetic separation,
eliminating the electricity requirements, emissions, and environmental impacts of conventional smelting,
roasting, or high- pressure acid leaching while reducing dependence on overseas nickel processing
infrastructure.
The U.S. Geological Survey recognized awaruite's strategic importance in its 2012 Annual Report on
Nickel, noting that these deposits may help alleviate prolonged nickel concentrate shortages since the
natural alloy is much easier to concentrate than typical nickel sulfides1. The Pipestone XL Nickel-Cobalt
Alloy Project is located near existing infrastructure with year -round road access and proximity to
hydroelectric power. These features provide favorable logistics for exploration and future development,
strengthening First Atlantic’s role to establish a secure and reliable source of No rth American nickel
production for the stainless steel, electric vehicle, aerospace, and defense industries. This mission
gained importance when the US added nickel to its critical minerals list in 20222, recognizing it as a non-
fuel mineral essential to economic and national security with a supply chain vulnerable to disruption.
1 https://d9-wret.s3.us-west-2.amazonaws.com/assets/palladium/production/mineral-pubs/nickel/mcs-2012-nicke.pdf
2 https://www.usgs.gov/news/national-news-release/us-geological-survey-releases-2022-list-critical-minerals
Forward-looking statements:
Forward-looking information in this news release includes, but is not limited to, statements regarding: the anticipated use of
proceeds from the Offering; the Company’s plans to conduct district-scale drilling, expand the RPM Zone, test newly identified
drill targets and advance metallurgical recovery and processing programs at the Pipestone XL Nickel -Cobalt Alloy Project,
including at the RPM Zone and newly identified drill targets; the Company’s ability to incur eligible “Canadian exploration
expenses” that qualify as “flow-through mining expenditures”; the timing of incurring Qualifying Expenditures; the Company’s
ability to renounce such expenditures to subscribers; and the receipt of final approval of the Offering from the TSX Venture
Exchange.
Forward-looking information is based on a number of assumptions, including, among others: that the Company will incur
Qualifying Expenditures within the timelines required under the Income Tax Act (Canada); that exploration activities at the
Pipestone XL Project will proceed as currently planned; that the Company will receive the necessary approvals from the TSX
Venture Exchange; that required services, equipment and personnel will be available as expected; and that market and
economic conditions will remain supportive of the Company’s exploration activities.
Readers are cautioned that such forward-looking information is neither promises nor guarantees and is subject to known and
unknown risks and uncertainties including, but not limited to: changes in exploration plans; delays or failures in incurring
Qualifying Expenditures; regulatory risks; environmental and permitting risks; operational risks; changes in commodity prices;
market volatility; and other risks inherent in the mineral exploration industry. Additional factors and risks are discussed i n the
Company’s disclosure documents available under the Company’s profile on SEDAR+ at www.sedarplus.ca.
The Company is presently an exploration stage company. Exploration is highly speculative in nature, involves many risks,
requires substantial expenditures, and may not result in the discovery of mineral deposits that can be mined profitably.
Furthermore, the Company currently has no mineral reserves on any of its properties.
The Company undertakes no obligation to update forward-looking information except as required by applicable securities laws.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.