Completion of Gochager Lake Summer 2025 Field Program
FATHOM ANNOUNCES COMPLETION OF THE GOCHAGER LAKE SUMMER FIELD
EXPLORATION PROGRAM AND FURTHER “FOOTPRINT” EXPANSION ALONG STRIKE
Calgary, Alberta – August 18, 2025; Fathom Nickel Inc. (CSE: FNI) (FSE: 6Q5) (OTCQB: FNICF) (the
"Company" or " Fathom") is pleased to announce the completion of the summer field exploration
program at the Gochager Lake Project.
The Gochager Lake Project Summer Field Program (the “Program”) Highlights:
• 2,926 B-horizon soil samples were collected from 3,183 designated sites.
• 337 rock samples, consisting of both chip samples and grab samples were collected from
various outcrop locations.
• All 337 samples were analysed on- site by pXRF for nickel -copper-cobalt-sulphur and key
mafic-ultramafic rock pathfinder elements (chrome and magnesium).
• Multiple well-mineralized samples have been submitted for multi-element assay along with
a select number of samples for whole rock geochemical analysis.
• Unfortunately, due to a lightning-induced wildfire in the Gochager Lake area, the field crew
was evacuated, and the Program was cut short by three days. Despite the truncated
program, the crew was able to complete approximately 90% of the intended soil
geochemistry sampling coverage.
The Program summary is presented in Figures 1 & 2.
• Figure 1 illustrates the extension of the soil geochemistry along strike to the northeas t and
southwest of the area where the 2024 soil geochemistry survey was performed.
o The 2025 program has added approximately 3.5km of coverage to the northeast and
approximately 2.5km of coverage to the southwest.
o Note: the areas to the southwest that are not highlighted in grey, are the areas where
crews were unable to complete their work due to the encroaching wildfire.
o The area now covered by B -horizon soil geochemistry (from 2024 and 2025) totals
approximately 9km in strike and 1 -3km in width . To date , the soil geochemistry
coverage has been focused within the interpreted structural corridor highlighted in
Figures 1 and 2.
• Figure 2 illustrates chip sample locations and 3 notable polygons where pXRF analysis
detected anomalous to very anomalous nickel in sulphide mineralization within
metasedimentary, gabbroic and ultramafic rock.
o Nickel (Ni ) in disseminated sulphide mineralization in an ultramafic host was
detected approximately 1,200m along strike of the historic Gochager Lake deposit.
o Multiple locations of Ni in disseminated sulphide mineralization, in gabbroic rock
was detected approximately 400-500m along strike of the historic Gochager Lake
deposit.
o Note variable texture gabbro with Ni occurring in disseminated sulphide
mineralization is the host rock at the historic Gochager Lake deposit. Furthermore,
Fathom recognizes Ni in disseminated sulphide mineralization in ultramafic rock
(pyroxenite) occurring immediately north of the historic Gochager Lake deposit.
o Elevated Ni in disseminated to semi -massive sulphide mineralization within a
metasediment host was detected approximately 800m west -southwest of the
historic Gochager Lake deposit. It is within this area that the highest Ni-in soil sample
was collected (Fathom Press Release July 21, 2025).
o The historic Gochager Lake deposit area geology map will be updated once all
analyses have been received and interpreted.
o We anticipate the receipt of all soil and rock geochemistry results by mid-September.
In acknowledging the efforts of the team in response to the wildfires, Ian Fraser, Fathom CEO and
VP Exploration stated, “ Firstly, I would like to thank the crew at TerraLogic Exploration Inc. for an
excellent job done under extremely challenging circumstances. I must also acknowledge the
leadership teams at both TerraLogic and Osprey Wings Ltd. for their swift action in ensuring a safe
and complete evacuation of the Gochager Lake camp. I must also thank the team at JP Enterprises
Inc. for their efforts in manning the pumps and sprinkler system at our camp. It has been a very
challenging exploration season due to wildfires burning in our project area and we are very grateful
that the crew was extracted safely and further commend the efforts of those individuals who
remained in camp and ultimately saved our newly constructed 20-25 person all season camp.”
He went on to comment on the exploration program and the future plans at Gochager Lake, “We
look forward to interpreting the results of the soil and rock geochemistry program once assays are
in hand in September . It is obvious from preliminary rock geochemistry that mineralized gabbro
continues for a minimum of 500m along strike of the historic Gochager Lake deposit . We were
delighted and very encouraged with the discovery of a mineralized ultramafic outcrop further along
strike and on the other side of the lake from the known mineralized gabbro occurrences. We look
forward to completing a geophysical survey to determine the conductivity associated with the
newly discovered mineralized gabbro and ultramafic rock and to specifically determine if there is
a conductor(s) below the small lake. Once we have all results in hand we will be in a better position
to discuss the robust multi -element in-soil anomalies that flank the boundar ies of the interpreted
structural corridor and to determine the next exploration steps as we further define this burgeoning
nickel camp in north central Saskatchewan. ”
Quality Assurance / Quality Control (QA/QC) Disclosure Statement
The Company contracted the services of TerraLogic Exploration Inc. (“TerraLogic”) to conduct its soil
and rock geochemistry program within the historic Gochager Lake deposit area. Soil samples were
collected using either a hand auger or a geotool at pre-determined sites utilizing a 50m x 50m sample
spacing configuration. B-horizon soil samples were collected at each site, placed in kraft soil sample
bags and all metadata associated with each sample location was recorded. Once sorted and
logged, samples were shipped to ALS Canada Ltd. (“ALS”) in North Vancouver, British Columbia for
multi-element analyses. All rock samples collected for analyses, once logged and sorted, were also
sent to ALS for multi-element analyses.
As part of its ongoing exploration activities, Fathom is utilizing a portable Vanta ™ XRF Analyzer
(“pXRF”) to provide real -time lithogeochemical, multi-element data on surface rock chip samples
and rock grab samples collected in the field. The Vanta™ XRF Analyzer is a hand-held device, held in
position for a total 120 seconds - beam 1 (30 seconds), beam 2 (60 seconds) and beam 3 (30
seconds) to allow for an effective reading of elements occurring at that specific point, and at that
specific surface of a rock sample. All elements detected at that specific point; nickel, copper, cobalt
plus key pathfinder elements, chrome and magnesium, are recorded. The reader is cautioned that
pXRF data should be treated only as an indication of elements, as the accuracy of the beam position
on a particular element is variable.
Qualified Person and Data Verification
Ian Fraser, P.Geo., CEO, VP Exploration and a Director of the Company and the "qualified person" as
such term is defined by National Instrument 43 -101, has verified the data disclosed in this news
release, and has otherwise reviewed and approved the technical information in this news release on
behalf of the Company.
About Fathom Nickel Inc.
Fathom is an exploration company that is targeting magmatic nickel sulphide discoveries to
secure the supply of North American Critical Minerals and to support the global green energy
transition.
The Company now has a portfolio of three high -quality exploration projects located in the prolific
Trans Hudson Corridor in Saskatchewan: 1) The Albert Lake Project, a 90,000+ hectare project that
hosts the historic Rottenstone Mine 1. Fathom exploration to date at the Albert Lake project
confirms: the Rottenstone deposit mineralization (Ni -Cu+Pd-Pt+Au ) extends to the south a
minimum 40m and remains open, and the potential for a footwall offset of the Rottenstone
deposit; a new Rottenstone -like (similar host rock and similar mineralization) discovery by drilling
500-550m W -NW of the historic mine; and similar Rottenstone -like host rock and mineralization
intersected by drilling approximately 1.5km S -SW of the historic mine. 2) The 34,000+ hectare
Gochager Lake Project that hosts the historic Gochager Lake deposit 2. Fathom exploration to date
at the Gochager Lake project confirms: the vertical extension of Ni -Cu-Co mineralization a
minimum of 150m below the interpreted historic deposit boundary, and very good potential
remains open for expansion in all directions; and multiple high -grade zones / chutes of vertically
oriented Ni -Cu-Co sulphide breccia mineralization occur within the historic deposit and remain
open for further expansion and delineation; and surface mapping and soil / rock geochemistry has
confirmed the Gochager Lake deposit host rock and mineralization style; the footprint, extends a
minimum 1,200m to the northeast and remains open for expansion along strike. 3) The 10,000+
hectare Friesen Lake Project located 40km southwest of the historic Rottenstone Mine and 30km
northwest of the historic Gochager Lake deposit. The Friesen Lake property hosts the Olsen Cu -
Ni-Pt Showing also referred to as the Friesen Lake Cu -Ni-Pt showing and is described as an
ultramafic dyke that historic trenching and drilling demonstrates Cu -Ni-Pt-Pd and Au
mineralization within the ultramafic dyke (Saskatchewan Mineral Deposit Index (SMID) #0928a).
To date Fathom has not performed any exploration at the Friesen Lake Project.
1 – The Rottenstone Mine; a small open- pit mining / milling operation in production 1965 -1969. Milling commenced
September 5, 1965, operated through November 7, 1965, and 5,500 short tons were mined and milled, the average
production grade being 3.23% Ni, 1.83% Cu, 0.14 oz/ton Pt, 0.10 oz/ton Pd, 0.03 oz/ton Au (9.26 g/t* 3E ) and 0.20 oz/ton
Ag for this period . Initial milling operations in 1965 produced 1,070 dry short tons of concentrates, the average grade
being: 10.835% Ni, 5.74% Cu, 0.33 oz/ton Pt, 0.53oz/ton Pd, 0.10 oz/ ton Au (32.91 g/t * 3E) and 1.25 oz/ton Ag. (Richards,
B.R. and Robinson, B.G.W. 1966), Mining and milling a small ore deposit …. Rottenstone Mining Limited: The Canadian
Mining and Metallurgical Bulleting for December 1966 . The Saskatchewan Mineral Deposit Index (SMDI) #0958 reports
final mine production in 1969 of 28,724 tons with an average grade of 3.28% Ni, 1.83% Cu and 9.63 g/t 3E (Pd-Pt+Au)
and that approximately 9,000 tons of concentrate were sold to the International Nickel Company of Canada Limited . * A
factor of 34.286 g/tonne was used to convert 1 oz/ton to g/tonne (g/t).
2 – The Gochager Lake property is host to the historic Gochager Lake Ni -Cu deposit. There is no source or available
Technical Reports to verify the historic resource estimate for the Gochager Lake deposit; hence, Fathom will treat the
Gochager Lake deposit historic estimate as an Exploration Target. Available records in the SMDI and Saskatchewan
Mineral Assessment Database (SMAD) suggest an E xploration Target of 4 -5 million tons grading 0.3% Ni – 0.4% Ni and
0.08% Cu – 0.09% Cu, containing a higher -grade core of 1.5 -2 million tons grading 0.6% NiEq – 0.7% NiEq (note NiEq is
based on Ni -Cu only). The ranges of tons and grade are conceptual as there is insufficient historic data to verify the
historical resource estimate (s) for the Gochager Lake deposit, and the higher -grade core. At present, Fathom has drilled
16 drillholes (5,549m) into the historic Gochager Lake deposit and has confirmed Ni-Cu grades comparable to and higher
than the historical grades reported, thus confirming that a deposit of Ni -Cu+Co metal a ccumulation does exist at the
historic Gochager Lake deposit / property. Furthermore, insufficient drilling has been done by the Company to define a
current mineral resource, and again at this time, it is uncertain if further drilling will result in the Exploration Target b eing
delineated as a mineral resource. The disclosed potential quantity and grade has been determined by historic recor ds
notably; t he Saskatchewan Mineral Deposit Index (SMDI #0880) reports delineation drilling outlined a deposit at the
historic Gochager Lake Deposit ; Steel, J.S. (1990) (SMAD 73P15- 0091) : Report on a Diamond Drilling Program on the
Gallagher (Gochager) Lake Property of McNickel Inc., reported that Scurry -Rainbow Oil Ltd. constructed vertical sections
and a longitudinal section from drill data collected 1966 -1968, and an orebody with reasonably well -defined limits was
interpreted. Ore reserves were then calculated for the Zone A. As stated above the historic estimate is not well documented
and there are no available Technical Reports to support the historic resource estimate(s).
ON BEHALF OF THE BOARD
“Ian Fraser”
CEO, VP Exploration , Director
For further information, please contact:
Ian Fraser, CEO, VP Exploration
1-403-650-9760
Or
Doug Porter, President and CFO
1-403-870-4349
Forward Looking Statements:
This news release contains "forward -looking statements" that are based on expectations, estimates, projections and
interpretations as at the date of this news release. Forward-looking statements are frequently characterized by words such
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words or statements that certain events or conditions "may" or "will" occur, and include, without limitation, statements
regarding payment of terms under the Option Agreement, permitting for the Property, receipt of an exploration permit,
timing of the exploration program on the Property and the Company achieving the earn -in thresholds under the Option
Agreement. Forward-looking statements relate to information that is based on assumptions of management, forecasts of
future results, and estimates of amounts not yet determinable. Any statements that express predictions, expectations,
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which could cause actual events or results to differ from those reflected in the f orward-looking statements, including,
without limitation: risks related to failure to obtain adequate financing on a timely basis and on acceptable terms; risks
related to the outcome of legal proceedings; political and regulatory risks associated with min ing and exploration; risks
related to the maintenance of stock exchange listings; risks related to environmental regulation and liability; the potential
for delays in exploration or development activities or the completion of feasibility studies; the uncer tainty of profitability;
risks and uncertainties relating to the interpretation of drill results, the geology, grade and continuity of mineral deposit s;
risks related to the inherent uncertainty of production and cost estimates and the potential for unexpe cted costs and
expenses; results of prefeasibility and feasibility studies, and the possibility that future exploration, development or mining
results will not be consistent with the Company's expectations; risks related to commodity price fluctuations; an d other
risks and uncertainties related to the Company's prospects, properties and business detailed elsewhere in the Company's
disclosure record. Such forward looking statements involve known and unknown risks, uncertainties and other factors
which may ca use the actual results, performance or achievements of the Company to be materially different from any
future results, performance or achievements expressed or implied by such forward -looking statements. These forward -
looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise
them to reflect new events or circumstances except in accordance with applicable securities laws. Actual events or results
could differ materially from the Company's expectations or projections.