Fathom Announces Commencement of Gochager Lake Winter Drill Program
FATHOM ANNOUNCES COMMENCEMENT OF WINTER DRILL
PROGRAM AT THE GOCHAGER LAKE PROJECT
Calgary, Alberta – March 9, 2026 – Fathom Nickel Inc. (CSE: FNI) (FSE: 6Q5) (OTCQB: FNICF) (‘Fathom”, or the
"Company") is pleased to announce that the winter drill program at the Gochager Lake project commenced late in
the day of March 6, 2026. Drilling is expected to continue into the first or second week of April, dependent upon
prevailing winter conditions.
Ian Fraser, Fathom CEO and VP Exploration stated, “Our field crews worked very hard over the course of the past
two months to ensure the trail and ice conditions were safe to transport the diamond drill and ancillary equipment
to site for the start of this program. With the winter trail now in place, we will eliminate our reliance on helicopter
support, resulting in an expected 30% to 35% reduction in total drilling cost per meter. This increased cost efficiency
will allow us to drill more meters and, ultimately, more holes in comparison to historical, heli -supported drill
programs. T his drill program is now well underway, and we look forward to testing along strike of the historic
Gochager Lake deposit for more Gochager -like mineralization.”
The Company is fully funded to complete the proposed drill program of up to 4,000 meters. In the event that the full
drill program is not completed before spring break-up in mid-April, we intend to return to Gochager in late May/early
June to complete the full 3,000-to-4,000-meter program.
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 high-grade Ni-Cu-Co+3E1 Rottenstone deposit mineralization extends to the south a minimum 40m and
remains open.
• The Rottenstone deposit is potentially offset and continues within the footwall of a prominent fault defined
by drilling.
• A new Rottenstone-like discovery (similar host rock, and similar mineralization) by drilling 500 -550m W-NW
of the historic mine; the 300+m Bay Island Trend, remains open along strike.
• Similar Rottenstone -like host rock and mineralization intersected by drilling approximately 1.5km S -SW of
the historic mine (the Nic5 -Tremblay-Olson area).
2) The 33,000+ hectare Gochager Lake Project that hosts the historic Gochager Lake deposit 2. Fathom exploration
to date at the Gochager Lake project confirms:
• Vertical extension of Ni-Cu-Co mineralization a minimum of 150m below the historic Gochager Lake deposit
interpreted boundary, and very good potential for expansion of mineralization in all directions.
• Multiple high -grade vertically oriented Ni -Cu-Co sulphide breccia mineralization zones and chutes occur
within the historic deposit, and the zones, chutes remain open for further expansion and delineation in all
directions.
• Surface mapping and rock geochemistry has confirmed the Gochager Lake deposit host /container rock
extends 3.5+ km along strike east-northeast of the deposit.
• Soil geochemistry has defined a favourable geochemical footprint, inclusive of the historic deposit, that
now extends 8.6+ km.
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 was in production 1965 -1969. Mining in 1965 produced
5,500 short tons with a reported average production grade of 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, 3E = Pd -Pt+Au) and 0.20 oz/ton Ag. Initial milling of mine concentrate; September 5 – November 7, 1965,
produced 1,070 dry short tons of concentrate that averaged 10.83% Ni, 5.74% Cu, 0.33 oz/ton Pt, 0.53 oz/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 Bul leting 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 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 historic estimate as an
Exploration Target. Available records in the Saskatchewan Mineral Deposit Index (SMDI) and Saskatchewan Mineral Assessment
Database (SMAD) suggest an Exploration Target of 4 -5 million tons grading 0.3% Ni – 0.4% Ni and 0.08% Cu – 0.09% Cu . The
potential quantity and grade are conceptual in nature, there has been insufficient exploration to define a mineral resource, and
that it is uncertain if further exploration will result in the target being delineated as a mineral resource. At present, Fat hom 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 accumulation does exist at the historic
Gochager Lake deposit / property. The disclosed potential quantity and grade has been determined by historic records notably;
the Saskatchewan Mineral Deposit Index and Saskatchewan Mineral Assessment Database. (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. As stated above, the historic estimate is not well documented and there are no available Technical Reports t o
support the historic resource estimate(s).
For further information, please contact:
Ian Fraser, Chief Executive Officer & Vice -President Exploration
1-403-650-9760
Email: [email protected]
or
Doug Porter, President & CFO
1-403-870-4349
Email: [email protected]
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 as
"plan", "expect", "project", "seek", "intend", "believe", "anticipate", "estimate", "suggest", "indicate" and other similar words or
statements that certain events or conditions "may" or "will" occur. 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, beliefs, plans, projections, obj ectives, assumptions or future events or performance are not
statements of historical fact and may be "forward- looking statements." Forward- looking statements are subject to a variety of
risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-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 mining 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 uncertainty of profitability; risks and uncertainties
relating to the interpretation of drill results, the geology, grade and continuity of mineral deposits; risks related to the inherent
uncertainty of production and cost estimates and the potential for unexpected costs and expenses; results of prefeasibility and
feasibility studies, and the possibility that future exploration, development or mining results will not be consistent with t he
Company's expectations; risks related to commodity price fluctuations; and 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 cause 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.