Fathom Announces New Zones of Ni-Cu-Co at Gochager Lake Project
FATHOM ANNOUNCES NEW ZONES OF NICKEL-COPPER-COBALT
MINERALIZATION AT THE GOCHAGER LAKE PROJECT
Calgary, Alberta – June 24, 2026 – Fathom Nickel Inc. (CSE: FNI) (FSE: 6Q5) (OTCQB: FNICF) (‘Fathom”, or
the "Company") is pleased to announce that the Phase-2 drill program at Gochager Lake continues to
demonstrate the effectiveness of BHEM (borehole electromagnetic surveying) targeting. Follow -up
drilling of off-hole conductors identified through BHEM probes has identif ied two new zones of gabbro -
hosted nickel -copper-cobalt1 mineralization northeast and southwest of the historic deposit. With
approximately two -thirds of the planned 3,000 -meter program now complete, the Company expects
drilling to conclude by June 30, with core logging and processing to be completed during the first week of
July. Phase-2 assay results are expected to be released in early August.
Ian Fraser, Fathom CEO and VP Exploration, stated, “An off -hole BHEM anomaly below drillhole
GL26024, tested by drillhole GL26028, has led to the discovery of a new zone of gabbro -hosted nickel -
copper-cobalt mineralization approximately 100 meters northeast of the historic Gochager Lake deposit.
Drillhole GL26029, drilled as a follow -up to GL24014 to test an off -hole BHEM anomaly, also intersected
gabbro-hosted nickel-copper-cobalt mineralization approximately 150 meters southwest of the deposit.
This represents another new zone and the furthest southwest m ineralized intercept drilled on the
property to date. BHEM probes continue to identify off -hole conductivity, and follow -up drilling of these
conductors has consistently intersected nickel -copper-cobalt-bearing sulphides in gabbroic to ultramafic
rocks and metasedimentary rocks. The Company continues to benefit from the elimination of helicopter
dependency, and this has resulted in approximately an additional 1,000 meters of drilling over and above
what was originally planned and budgeted for .”
Figure-1: Drillhole Plan Map
Figure 1 depicts drillholes GL26024, GL26028, GL26030 and GL24014 and GL26029 in relation to the
historic Gochager Lake Deposit. Zones of off-hole BHEM conductivity are highlighted.
Figure-2: Drill core photos GL26028 & GL26029
Figure 2, Panel A: Drillhole GL26028 intersected nickel- copper-cobalt mineralization in ultramafic and
gabbroic rocks from 278.0 to 311.0m. The highlighted 294.2 to 301.0m interval includes semi-massive
sulphide veins with pyrrhotite hosting visible pentlandite and trace chalcopyrite, within a broader zone of
disseminated-interstitial, locally net-textured and stringer-style pyrrhotite with visible pentlandite.
Figure 2, Panel B: Drillhole GL26029 intersected nickel-copper-cobalt mineralization in gabbro from 193.8
to 214.4m. The highlighted 204.6 to 212.5m interval comprises coarse to fine-grained gabbro containing
chalcopyrite stringers, disseminated -interstitial pyrrhotite hosting pentlandite, and semi-massive
sulphide breccia veins of pyrrhotite-chalcopyrite with visible pentlandite.
The nickel -copper-cobalt mineralization and host lithologies intersected in GL26028 and GL26029 are
consistent with mineralization styles observed in the historic deposit. Both drillholes contain higher
densities of semi -massive to massive sulphide veins within broad zones of disseminated, blebby and
stringer-style sulphide mineralization. These two zones are currently interpreted as separate from, but
similar in style to , the Gochager Lake deposit. The increased vein density provides further evidence of
remobilized nickel-copper-cobalt sulphides from a distinct source and supports continued exploration for
high-grade massive sulphide deposits at the Gochager Lake Project.
Quality Assurance / Quality Control (QA/QC) Disclosure Statement
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 roc k or drill core
sample. All elements detected at that specific point; nickel, copper, cobalt (Ni-Cu-Co) plus key pathfinder
elements, chrome and magnesium (Cr-Mg), 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 i n 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 explor ation projects located in the prolific Trans
Hudson Corridor in Saskatchewan , Canada: 1) The Albert Lake Project, a 90,000+ hectare project that
hosts the historic Rottenstone Mine; 2) The 3 3,000+ hectare Gochager Lake Project that hosts the
historic Gochager Lake deposit, and 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.
For further information, please contact:
Ian Fraser, Chief Executive Officer & Vice -President Exploration
1-403-650-9760
Email: [email protected]
or
Doug Porter, President & Chie f Financial Officer
1-403-870-4349
Email: [email protected]
Forward-Looking Statements:
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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
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