First Atlantic Nickel Receives Drilling Permits over Multiple Awaruite Nickel Zones Along 30 Km District Trend
FIRST ATLANTIC NICKEL RECEIVES DRILLING PERMITS OVER MULTIPLE
AWARUITE NICKEL ZONES ALONG 30 KM DISTRICT TREND
Vancouver, British Columbia – (Cision - July 17, 2024) - First Atlantic Nickel Corp. (TSXV: FAN)
(OTCQB: FANCF) (FSE: P21) ("First Atlantic" or the "Company") is pleased to announce that it
has received drilling permits, which complement our existing exploration permits, for its fully
funded 2024 work and drilling program at the 100% owned Atlantic Nickel Project in central
Newfoundland, Canada (the "Project" or the “Atlantic Nickel Project”). The Company has initiated
the mobilization of heavy equipment to upgrade existing road infrastructure, which will enable a
larger portion of the budget to be directed towards drilling high-priority zones and maximizing the
overall drilling footage. The 2024 exploration program currently underway is set to identify and
test the most promising awaruite nickel zones along the established 30 km nickel trend.
Highlights:
● Drill permits granted for 26 sites covering multiple awaruite nickel zones within a 30 km
trend.
● 5,000 meter multi-zone drill program planned to begin this summer.
● Road upgrades will improve access, reduce project costs and maximize drilling on key
target areas.
● World nickel expert and awaruite specialist, Dr. Ron Britten, to aid exploration and
development.
● 21,850 hectare land position covers the entire 30 km trend of the Pipestone Ophiolite
Complex with unique awaruite nickel.
● Awaruites’ (nickel -iron alloy) unique properties enable simpler, environmentally safe
processing without smelting, requiring less energy and chemicals while producing high-
grade nickel concentrates within North America.
"With drilling permits in place and the exploration capital secured, we can focus on our objective
to prove the potential for a district scale awaruite nickel project", said Adrian Smith, CEO of First
Atlantic. "Awaruite is a unique, naturally occurring ni ckel-iron alloy that offers significant
advantages over traditional nickel sources. Its sulfur -free composition allows for processing
without smelting, reducing our reliance on foreign countries that control smelting operations. By
utilizing simple magneti c separation and flotation technologies, we can produce a high- grade
nickel concentrate right here in North America, using fewer chemicals and less energy than
conventional methods. This approach not only makes awaruite processing more environmentally
friendly but also positions us to supply critical minerals to North American EV and stainless steel
sectors, strengthening our domestic supply chains. At First Atlantic, we're excited about the
potential of awaruite to revolutionize nickel production, offering a cleaner, more sustainable path
forward for the industry."
The 2024 exploration program will prioritize multiple zones within the 30 km nickel-bearing trend
that exhibit the strongest awaruite nickel occurrences. The primary target areas encompass
Atlantic Lake, Gulp Pond (including Big Gulp), Pipestone, and Chrom e Pond (see Figure 1).
Strategically located in central Newfoundland, the Atlantic Nickel Project benefits from road
access and nearby hydroelectric power, presenting the potential for a significant large-scale nickel
discovery within this district -scale p roject. Throughout the project area, awaruite, a highly
magnetic nickel-iron alloy, has been consistently identified in rocks, tills and drill core samples.
Dr. Ron Britten, a world-renowned nickel expert, is advising the Company on exploration and drill
targeting for the 2024 exploration program of the Atlantic Nickel Project. Dr. Britten discovered
and advanced the Decar Project in British Columbia, which is North America's first large -scale
awaruite nickel project on the west coast, containing over 10 billion pounds of nickel1. The Decar
Project attracted strategic partners such as Toyota, Outokumpu, Sumitomo Mining, and
JOGMEC. Dr. Britten's expertise will be invaluable in advancing the Atlantic Nickel Project.
First Atlantic Nickel Completed Significant Milestones to date in 2024
● Secured 30 km ultramafic nickel trend within Pipestone Ophiolite Belt through multiple
property agreements.
● Compiled extensive historic data including 4,581 samples, 23 drill holes, 115,859 assay
results, confirming 30 km nickel belt centered on Project.
● Commenced field work, mapping and sampling to expand and validate historic data.
● Raised $2,084,999.91 at $0.21 issuance price per share, with strategic investor acquiring
9.98% stake, fully funding planned work.
● Appointed world- renowned nickel expert and awaruite specialist Dr. Ron Britten, to
advisory board for exploration and development guidance.
The Company is now set to fast track intensive exploration and development with permits in hand.
The Company looks forward to providing additional updates as work progresses.
1 /https://fpxnickel.com/wp-content/uploads/2023/11/Baptiste-Project-NI-43-101-Technical-Report_FINAL.pdf
Figure 1: Atlantic Nickel Project map displaying priority target areas (zones) with nickel sample
results overlaid on magnetic survey data. These zones remain open along trend.
Investors are invited to sign up for the official FAN (First Atlantic Nickel) list found at
www.fanickel.com and to 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
Disclosure
The Company has not independently verified the historic samples reported in this news 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 for both supply and processing, thereby strengthening
supply chain security. In 20222, 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, First
Atlantic 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
2 https://www.usgs.gov/news/national-news-release/us-geological-survey-releases-2022-list-critical-minerals
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 information 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. Forward looking information in this news release includes, but is not limited to,
expectations regarding the timing, scope, and results from the 2024 work and drilling program; future project
developments; the Company’s objectives, goals or future plans, statements, and estimates of market
conditions. 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 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. Additional factors and risks
including various risk factors discussed in the Company’s disclosure documents which can be found under
the Company’s profile on http://www.sedarplus.ca. Should one or more of these risks or uncertainties
materialize, or should assumptions underlying the forward- looking statements prove incorrect, actual
results may vary mat erially from those described herein as intended, planned, anticipated, believed,
estimated or expected.
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, t he 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 suc h
statements.