First Atlantic Nickel Announces Strategic Engagement of Draganfly FOR Advanced Exploration at Atlantic Nickel Project
FIRST ATLANTIC NICKEL ANNOUNCES STRATEGIC ENGAGEMENT OF DRAGANFLY
FOR ADVANCED EXPLORATION AT ATLANTIC NICKEL PROJECT
Vancouver, British Columbia - June 12, 2024 - First Atlantic Nickel Corp. (TSXV: FAN, OTCQB:
FANCF, FSE: P21) ("First Atlantic" or the "Company") is pleased to announce the strategic
engagement of Draganfly Inc. (NASDAQ: DPRO) (CSE: DPRO) (FSE: 3U8) ("Draganfly"), an
award-winning, industry -leading drone solutions and systems developer, for advanced aerial
sensing exploration at the Company's district -scale Atlantic Nickel Project located in
Newfoundland, Canada.
Highlights:
● First Atlantic has engaged Draganfly, a leading drone technology company, to conduct
advanced surveys, including a magnetic geophysical survey, at the Atlantic Nickel Project,
aimed to identify high priority magnetic awaruite target areas while the company solidifies
its plans for its 2024 drilling program.
● Draganfly's drones offer impressive capabilities, including a 10kg payload capacity, a wide
operating temperature range, high wind tolerance, and the ability to carry an array of
advanced sensors.
● The engagement aims to accelerate exploration of the 30 -kilometer nickel bearing
ultramafic target area, which has proven elevated nickel values and shows potential for a
multi-deposit mining district.
● First-ever detailed geophysical survey to cover the northernmost tip of a 30-kilometer trend
known to contain nickel. Historic drill holes in this target area discovered awaruite nickel
mineralization, with nickel grades between 0.22% and 0.27% over the full 87 meter length
ending in mineralization (NFLD/3284).
“We are thrilled to collaborate with Draganfly and utilize their advanced drone technology to
expedite exploration at the Atlantic Nickel Project," said Adrian Smith, CEO of First Atlantic.
"Draganfly's expertise and cutting-edge drones will enable us to efficiently survey our vast land
package, accelerate potential discoveries, and acquire precise data. This partnership aligns with
our long-term strategy of leveraging AI -powered data to unlock the full potential of the Atlantic
Nickel Project and expand known areas of awaruite mineralization.”
Figure 1: Atlantic Nickel Project area with unique awaruite nickel-alloy host rocks to be surveyed by
Draganfly drone technology.
Figure 2: Atlantic Nickel Project Key Highlights
The Atlantic Nickel Project, situated in the world- class Newfoundland mining jurisdiction, covers
21,850 hectares of highly prospective ground with potential for bulk-tonnage, awaruite-style nickel
mineralization. Awaruite, a naturally occurring nickel all oy, offers a sustainable and efficient
pathway to producing critical minerals while reducing the need for energy-intensive smelting and
limiting dependence on nickel supply chains controlled by foreign entities of concern (FEOC)1 2.
Draganfly's drones are capable of carrying a 10kg payload, operating in temperatures ranging
from +38°C down to -25°C, withstanding winds up to 35 km/h, and flying at altitudes up to 2,438m
above sea level. The drones have a flight range exceeding 25 km per hour and a flight time of 50
minutes. Importantly, Draganfly's drones can be equipped with various advanced sensors,
including LiDAR, multispectral, hyperspectral, magnetometer, and ground-penetrating radar.
The Atlantic Nickel Project boasts a 30km nickel bearing ultramafic target area with proven
elevated nickel values and awaruite mineralization. First Atlantic believes the project area has the
potential to host multiple nickel deposits, indicating it could develop into a significant nickel mining
district.The engagement with Draganfly will enable the Company to efficiently collect high-quality
data over key areas, facilitating the identification of high-priority drill targets and accelerating the
exploration process.
First Atlantic is focused on exploring for awaruite, a naturally occurring nickel alloy that offers the
potential for sustainable, high-value nickel concentrate production without smelting, resulting in a
lower environmental footprint. The Atlantic Nickel Project's strategic location in Newfoundland,
Canada, provides access to excellent infrastructure, including direct shipping access to US,
European, and Canadian markets, existing roads, and a nearby clean hydropower dam to support
potential mining operations.
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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.
https://twitter.com/FirstAtlanticNi
https://www.facebook.com/firstatlanticnickel
https://www.linkedin.com/company/firstatlanticnickel/
For more information:
First Atlantic Nickel Relations
Robert Guzman
Tel: +1 844 592 6337
http://www.fanickel.com
1 https://www.federalregister.gov/documents/2023/12/04/2023-26479/interpretation-of-foreign-entity-of-concern
2 https://crsreports.congress.gov/product/pdf/IN/IN12322
Disclosure
The Company has not independently verified the historic samples reported in this release but has received data from
the previous property owners and from the Government of Newfoundland and Labrador’s online database.
Adrian Smith, P.Geo., 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 (PEGNL) 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 Canadian mineral
exploration company that owns 100% of the Atlantic Nickel Project, a large scale significant nickel
awaruite project in Newfoundland and Labrador, Canada. By eliminating the need for smelting,
nickel in the form of awaruite reduces dependence on foreign entities of concern (FEOC) for both
supply and processing, thereby strengthening supply chain security. In 2022 3, the US
Government designated nickel as a critical mineral, highlighting its importance to the nation's
economy and security.
The Atlantic Nickel Project is a special asset due to its unique combination of size, location,
proximity to infrastructure, and the presence of awaruite. By developing this domestic awaruite
nickel project, FAN aims to enhance supply chain security for the stainless steel and electric
vehicle industries in the USA, Canada, and Europe. The Company's strategic location and focus
on awaruite nickel position it to play a key role in meeting the growing demand for responsibly
sourced nickel in these sectors.
The Company is committed to responsible exploration, environmental stewardship, and working
closely with local communities to create sustainable economic opportunities. With its experienced
team and the project's significant potential, the Company is well -positioned to contribute to the
future of the nickel industry and the global transition to a cleaner, more secure energy future.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined
in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of
this release.
Forward-looking statements:
This news release may include "forward- looking information" under applicable Canadian securities legislation. Such
forward-looking information reflects management's current beliefs and are based on a number of estimates and/or
assumptions made by and infor mation currently available to the Company that, while considered reasonable, are
subject to known and unknown risks, uncertainties, and other factors that may cause the actual results and future
events to differ materially from those expressed or implied by such forward-looking information. Readers are cautioned
that such forward-looking information are neither promises nor guarantees and are subject to known and unknown risks
and uncertainties including, but not limited to, general business, economic, competitive, political and social
uncertainties, uncertain and volatile equity and capital markets, lack of available capital, actual results of exploration
3 https://www.usgs.gov/news/national-news-release/us-geological-survey-releases-2022-list-critical-minerals
activities, environmental risks, future prices of base and other metals, operating risks, accidents, labour issues, delays
in obtaining governmental approvals and permits, and other risks in the mining industry.
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 reserves on any of its properties. As a result, there can be no
assurance that such forward-looking statements will prove to be accurate, and actual results and future events could
differ materially from those anticipated in such statements. ‘