FIRST ATLANTIC NICKEL DOUBLES RPM ZONE STRIKE LENGTH TO 800 METERS AT PIPESTONE XL NICKEL ALLOY PROJECT WITH 491 METER AWARUITE (Ni3Fe) INTERCEPT IN PHASE 2X DRILLING Phase 2x Drilling Achieves 800 Meter Strike Length with First Hole on Line S3 Confirming Continuity of
FIRST ATLANTIC NICKEL DOUBLES RPM ZONE STRIKE LENGTH TO 800 METERS AT
PIPESTONE XL NICKEL ALLOY PROJECT WITH 491 METER AWARUITE (Ni3Fe) INTERCEPT IN
PHASE 2X DRILLING
Phase 2x Drilling Achieves 800 Meter Strike Length with First Hole on Line S3 Confirming Continuity of
Awaruite Mineralization
Grand Falls-Windsor, Newfoundland and Labrador -- (Globenewswire - September 25, 2025) -
First Atlantic Nickel Corp. (TSXV: FAN) (OTCQB: FANCF) (FSE: P21) ("First Atlantic" or the
"Company") is pleased to report that drill hole AN -25-08 intersected 491 meters of large grain, visibly
disseminated awaruite (Ni3Fe) mineralization at the RPM Zone within its Pipestone XL Nickel Alloy
Project (formerly named the Atlantic Nickel Project) in Newfoundland. This significant intersection on
Line S3, is the first reported drill hole from this section and extends the RPM Zone strike length to 800
meters north -south, doubling the strike length drilled during Phase 1. AN -25-08 confirmed visibly
disseminated awaruite throughout the length of the drill core, supporting the c ontinuity of nickel -iron-
cobalt alloy mineralization across the expanding RPM Zone footprint.
Phase 2X drilling is expanding the RPM Zone at Pipestone XL with long intersections of visibly
disseminated awaruite mineralization. Step -out drilling has now confirmed continuous awaruite
mineralization across three drill sections (S1, S2, and S3), each spaced approximately 400 meters apart.
RPM Zone awaruite nickel mineralization currently extends 800 meters along strike and remains open
in all directions (see Figure 1).
Samples from Phase 2X drill holes have been submitted for whole-rock assay analysis and Davis Tube
Recovery (DTR) metallurgical testing to evaluate magnetically recoverable nickel (DTR nickel grade).
To date, DTR testing from the RPM Zone has returned magn etic concentrate grades averaging 1.38%
nickel and 1.67% chromium. These results correspond to an average DTR nickel grade of 0.12% with
a mass pull of 9.08%. A summary of all drill results to date is presented in Table 1.
HIGHLIGHTS:
● RPM Zone First Drill Hole on Line S3 Doubles Strike Length to 800 Meters : Drill hole AN -
25-08 on Line S3 has successfully extended the RPM Zone up to 800 meters of continuous
north-south strike length - a 2X increase from the original Phase 1 discovery.
● 491-meter mineralized interval with coarse awaruite grains up to ~2,000 -micron: The
largest awaruite grains intersected to date at RPM Zone - 2x the previous record of ~1,000
microns in AN24-04 - with distinctive chain formation and grains migrating into magnetite veining,
indicating robust mineralization and enhanced magnetic recovery potential.
● Phase 2X Targeting 1 km (+) Strike Length: The Phase 2X program is designed to test beyond
1 kilometer.
● Consistent Metallurgical Results: DTR tests from all reported RPM Zone drill holes to date
confirm average magnetic concentrate grades of 1.38% nickel and 1.67% chromium, yielding a
weighted average DTR nickel grade of 0.12% calculated across the complete drill core length
from all holes, representing the full mineralization profile.
● Multiple Updates Expected: The Company anticipates providing additional updates on Phase
2X drilling and other project developments in the coming weeks.
For further information, questions, or investor inquiries, please call Rob Guzman at First Atlantic
Nickel by phone at +1 844 592 6337 or via email at [email protected].
AN-25-08 Drill Hole Details
Drill hole AN -25-08 was collared on Line S3, representing a 400 -meter step -out from Line S2 and
establishing 800 meters of drilled north-south strike length at the RPM Zone. The hole intersected 491
meters of serpentinized peridotite hosting visibly dissem inated awaruite (nickel -iron-cobalt alloy)
mineralization.
Notably, this intersection contains the largest disseminated awaruite grains identified to date in the
project, with individual grains reaching up to ~2,000 microns in length - representing 2X the prior record
of 1,000 microns. The mineralization also displays a distinctive awaruite chain formation, with awaruite
grains observed migrating into magnetite veining, which could result in improved magnetic recovery
characteristics.
Figure 1: Drill core from hole AN -25-08 (370 m) showing disseminated awaruite (nickel -iron alloy) in
serpentinized peridotite with magnetite veining (top); photomicrographs of awaruite grains up to ~2,000
microns (bottom).
Figure 2: Drill core from hole AN-25-08 (332 m) showing unique chain formation of awaruite (nickel-iron
alloy) mobilizing and concentrating along magnetite veins in serpentinized peridotite (top);
photomicrographs of awaruite grains up to ~490 microns (bottom).
Figure 3: Drill core from hole AN -25-08 (105 m) showing disseminated awaruite (nickel -iron alloy) in
serpentinized peridotite (top); photomicrographs of awaruite grains up to ~460 microns (bottom).
Figure 4: Drill core from hole AN -25-08 (280 m) showing disseminated awaruite (nickel -iron alloy) in
serpentinized peridotite (top); photomicrographs of awaruite grains up to ~700 microns (bottom).
Figure 5: Drill core from hole AN -25-08 (432 m) showing disseminated awaruite (nickel -iron alloy) in
serpentinized peridotite (top); photomicrographs of awaruite grains up to ~700 microns (bottom).
RPM Western Dipping Ultramafic System
Phase 2X drilling, combined with district -wide exploration mapping completed throughout 2025, has
resulted in a new geological model that incorporates an interpretation of west -dipping mineralization.
Based on this model, the optimal drill orientation is considered to be east-dipping at angles between 45-
65 degrees, to better test the true thickness of the mineralized zones.
The geological model suggests that the Pipestone Ophiolite Complex is a wide west -dipping structure
consisting of laterally extensive layers of peridotites or harzburgites that extend from the surface and
dip to the west. This updated geological developmen t indicates that east-dipping holes are best suited
to test the true thickness of target horizons within the broader ultramafic complex.
Initial east -dipping drill holes have intersected serpentinized peridotite layers containing higher
concentrations of awaruite nickel mineralization in harzburgites and lower mineralization in dunites,
providing a more complete profile of the deposit. DTR testing has returned higher nickel grades in the
main wider serpentinized harzburgite zone, compared to the less serpentinized dunite layers.