First Atlantic Nickel to Attend Benchmark Mineral Intelligence'S GIGA USA 2025 Conference, Highlighting Atlantic Nickel Project’S Smelter-Free Processing FOR North America’S Critical Minerals Supply Chain
FIRST ATLANTIC NICKEL TO ATTEND BENCHMARK MINERAL INTELLIGENCE'S GIGA USA
2025 CONFERENCE, HIGHLIGHTING ATLANTIC NICKEL PROJECT’S SMELTER-FREE
PROCESSING FOR NORTH AMERICA’S CRITICAL MINERALS SUPPLY CHAIN
VANCOUVER, BC – (GlobeNewswire - June 2, 2025) – First Atlantic Nickel Corp. (TSXV: FAN)
(OTCQB: FANCF) (FSE: P21) (“First Atlantic” or the “Company”) is pleased to announce its participation
at the Benchmark Mineral Intelligence GIGA USA 2025 conference, taking place June 3-4, 2025, in
Washington, DC. The Company will participate in strategic meetings during this critical mineral
conference to demonstrate how its Atlantic Nickel Project addresses the growing need for nickel mining
that can be completely processed in North America. The Atlantic Nickel Project contains nickel in the
form of awaruite, a naturally occurring, sulfur -free, highly magnetic mineral with approximately 75%
nickel content. These unique properties enable direct processing through magnetic separation and
flotation, eliminating reliance on foreign overseas smelting or roasting operations. This simplified mineral
processing method significantly lowers energy requirements and reduces environmental impacts,
strengthening the development of a resilient, domestic critical minerals supply chain.
The GIGA USA conference brings together key players from across the critical minerals sector for two
days of networking, dealmaking, and policy discussions. Attendees include major automakers such as
Tesla, Ford, General Motors, Rivian, Mercedes -Benz, and Volkswagen; battery manufacturers like LG
Energy Solutions, Samsung SDI, and Panasonic Energy; and global mining companies including Rio
Tinto, Vale, Glencore, South32, and Anglo American. Government representatives from the U.S.
Department of Energy, U.S. Department of Commerce, U.S. Department of Defense, U.S. Department
of State, the Government of Quebec, the Embassy of Canada, and the Delegation of the European
Union will also attend. Conference topics will address the expansion of the United States’ li thium-ion
battery gigafactory industry and the need to establish secure, sustainable supply chains for critical raw
materials, including lithium, nickel, graphite, cobalt, manganese and rare earth elements.
The conference addresses key areas of focus including strengthening the U.S. critical minerals supply
chain through domestic production and expanded gigafactory capacity, examining policy and trade
impacts, such as the Inflation Reduction Act (IRA), and enhancing national security through critical
mineral independence. The conference will also focus on investment and financing opportunities for
next-generation mining projects, innovations in battery technology and sustainability, and the
importance of global collaboration and strategic partnerships.
The Company's Atlantic Nickel Project offers a secure and reliable solution for domestic nickel
production. By leveraging awaruite's sulfur -free composition, high nickel content and magnetic
properties, the project enables simple processing through magnetic separation and flotation without the
need for secondary processing such as smelting or roasting. Unlike traditional nickel sulfide and laterite
projects that undergo energy -intensive processes creating harmful waste and emissions, awaruite’s
metallurgical properties enable complete domestic nickel production while eliminating reliance on
overseas processing. The lower energy requirements and sulfur -free nature of awaruite result in a
reduced carbon and environmental footprint. The Company remains committed to strengthening North
American critical minerals supply chains, with the Atlantic Nickel Project positioned to provide a secure,
reliable nickel source for North American industries including electric vehicles, batteries, defense, and
stainless steel manufacturing.
Conference Meeting Requests
First Atlantic welcomes the opportunity to meet with strategic partners, shareholders and investors
during the GIGA USA 2025 conference. Interested parties are encouraged to contact Rob Guzman at
[email protected] or by phone at 844-592-6337 to arrange meetings. The conference takes place June
3-4, 2025 in Washington, DC.
Phase 2 Drilling Update
The Phase 2 drilling program is currently underway and successfully expanding the awaruite
mineralization identified in multiple drill holes during the Phase 1 campaign. Technical improvements,
including optimized HQ/NQ drill configurations and enhanced drill bit selection, have enabled the current
program to reach greater depths than previously achieved. The Company anticipated providing updates
on the Phase 2 drill holes in the coming weeks.
For further information, questions, or investor inquiries, please contact Rob Guzman at First
Atlantic Nickel by phone at +1-844-592-6337 or via email at [email protected]
Corporate Update
The Company also announces that on May 21, 2025 it closed the definitive agreement dated May 6,
2025 (the “Purchase Agreement”) to acquire a 100% interest in eight mineral licenses totaling
approximately 3,350 hectares. These licenses are strategically loc ated around the Company’s Atlantic
Nickel Project in central Newfoundland, in the Cold Spring Pod and Coy Pond areas. Under the terms
of the Purchase Agreement, the Company has issued 1,000,000 Shares at a deemed price of $0.205
per Share. These Shares are subject to a statutory hold period of four months and one day, in
accordance with applicable Canadian securities laws. And further to its May 6, 2025 news release, it
closed the previously announced settlement agreement (the “Settlement Agreement”) on May 22, 2025,
to settle outstanding obligations totaling $202,950 owed to an arm’s length creditor (the “Creditor”)
related to accounting services provided under a consulting agreement dating back to 2017. Pursuant to
the Settlement Agreement, the Company has issued an aggregate of 312,500 common shares (each,
a “Share”) at a deemed price of $0.32 per Share. These Shares will be released in three equal tranches
over a 12- month period and are subject to a statutory hold period of four months and one day, in
accordance with applicable Canadian securities laws.
Awaruite (Nickel-iron alloy Ni₂Fe, Ni₃Fe)
Awaruite, a naturally occurring sulfur -free nickel -iron alloy composed of Ni ₃Fe or Ni ₂Fe with
approximately ~75% nickel content, offers a proven and environmentally safe solution to enhance the
resilience and security of North America's domestic critical minerals supply chain. Unlike conventional
nickel sources, awaruite can be processed into high-grade concentrates exceeding 60% nickel content
through magnetic processing and simple floatation without the need for smelting, roasting, or high-
pressure acid l eaching1. Beginning in 2025, the US Inflation Reduction Act's (IRA) $7,500 electric
vehicle (EV) tax credit mandates that eligible clean vehicles must not contain any critical minerals
processed by foreign entities of concern (FEOC) 2. These entities include Russia and China, which
currently dominate the global nickel smelting industry. Awaruite's smelter -free processing approach
could potentially help North American electric vehicle manufacturers meet the IRA's stringent critical
mineral requirements and reduce dependence on FEOCs for nickel processing.
The U.S. Geological Survey (USGS) highlighted awaruite's potential, stating, "The development of
awaruite deposits in other parts of Canada may help alleviate any prolonged shortage of nickel
concentrate. Awaruite, a natural iron-nickel alloy, is much easi er to concentrate than pentlandite, the
principal sulfide of nickel"3. Awaruite's unique properties enable cleaner and safer processing compared
to conventional sulfide and laterite nickel sources, which often involve smelting, roasting, or high-
pressure acid leaching that can release toxic sulfur dioxide, generate hazardous waste, and lead to acid
mine drainage. Awaruite's simpler processing, facilitated by its amenability to magnetic processing and
lack of sulfur, eliminates these harmful methods, reducing greenhouse gas emissions and risks
associated with toxic chemical release, addressing concerns about the large carbon footprint and toxic
emissions linked to nickel refining.
1 https://fpxnickel.com/projects-overview/what-is-awaruite/
2 https://home.treasury.gov/news/press-releases/jy1939
3 https://d9-wret.s3.us-west-2.amazonaws.com/assets/palladium/production/mineral-pubs/nickel/mcs-2012-nicke.pdf
Figure 1: Quote from USGS on Awaruite Deposits in Canada
The development of awaruite resources is crucial, given China's control in the global nickel market.
Chinese companies refine and smelt 68% to 80% of the world's nickel 4 and control an estimated 84%
of Indonesia's nickel output, the largest worldwide supply 5. Awaruite is a cleaner source of nickel that
reduces dependence on foreign processing controlled by China, leading to a more secure and reliable
supply for North America's stainless steel and electric vehicle industries.
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. Stay connected and learn more by following us on these social media platforms:
4 https://www.brookings.edu/wp-content/uploads/2022/08/LTRC_ChinaSupplyChain.pdf
5 https://web.archive.org/web/20250417033842/https://www.airuniversity.af.edu/JIPA/Display/Article/3703867/the-rise-of-great-mineral-powers/
https://x.com/FirstAtlanticNi
https://www.facebook.com/fanickelcorp
https://www.linkedin.com/company/firstatlanticnickel/
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 (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 developing the 100% -owned Atlantic Nickel Project, a large- scale nickel project strategically
located near existing infrastructure in Newfoundland, Canada. The Project's nickel occurs as awaruite,
a natural nickel-iron alloy containing approximately 75% nickel with no-sulfur and no-sulfides. Awaruite's
properties allow for smelter-free magnetic separation and concentration, which could strengthen North
America's critical minerals supply chain by reducing foreign dependence on nickel smelting. This aligns
with new US Electric Vehicle US IRA requirements, which stipulate that beginning in 2025, an eligible
clean vehicle may not contain any critical minerals processed by a FEOC (Foreign Entities Of Concern)6.
First Atlantic aims to be a key input of a secure and reliable North American critical minerals supply
chain for the stainless steel and electric vehicle industries in the USA and Canada. The company is
positioned to meet the growing demand for responsibly sourced nickel that complies with the critical
mineral requirements for eligible clean vehicles under the US IRA. With its commitment to responsible
practices and experienced team, First Atlantic is poised to contribute significantly to the nickel industry's
future, supporting the transition to a cleaner energy landscape. This mission gained importance when
the US added nickel to its critical minerals list in 2022, recognizing it as a non-fuel mineral essential to
economic and national security with a supply chain vulnerable to disruption.
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
6 https://home.treasury.gov/news/press-releases/jy1939
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: statements regarding: the timing,
scope and results of the Company’s Phase 1 and Phase 2 work and drilling programs; future project developments;
the Company’s objectives, goals, and future plans; statements and estimates of market conditions; the viability of
magnetic separation as a low-impact processing method for awaruite; the strategic and economic implications of
the Company’s projects; and expectations regarding future developments and strategic plans; 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 gov ernmental approvals and permits, and other risks in the mining and clean energy
industries. 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 materially 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, the Company currently has no mineral 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 anticipate d in such statements. The Company undertakes no
obligation to update forward-looking information, except as required by applicable securities laws.