Fathom Nickel Inc. announced that drilling has been completed at the Company's 100% owned Albert Lake Project and that drill, and crews have mobilized to the Gochager Lake Project. Drilling commenced at the Gochager Lake Project on March 12 and is expected to continue through mid-April 2024. Summary of the Albert Lake Project drill program is as follows: Six (6) holes were drilled amounting to 1,386 meters drilled. Drillhole AL24075, the first drillhole of the program was designed to test the very robust EM-coincident gravity anomaly. Several of these zones coincide with interpreted mafic/ultramafic intersections from the drilling and are worthy of more follow-up surface exploration and drilling. Assay results are expected by mid-late April 2024 and the Company will provide a complete summary of the Albert Lake program once assays are in hand. Gochager Lake Drill Program: Drilling commenced on March 12. The Company anticipates drilling 2000-2500 meters in 5-7 drillholes. Several new, high-priority drill targets have been identified outside the area of the historic Gochager Lake deposit. The current program is designed to drill multiple holes with a common azimuth across the host Gochager Lake intrusive and to specifically test zones of off-hole BHEM conductivity that resulted from the Fall 2023 drill program. 2023 drill programs illustrated zones of nickel mineralization grading >1% Ni and these higher-grade zones have a steep orientation and plunge. This current drill program will expand upon the 2023 results along strike and to depth and to depth and the company confident will add another dimension on the path to a new, modern maiden resource for the Gochager Lake deposit. The grade shells (>0.2% Ni, >0.5% Ni) are based on Fathom 2023 drilling and are at present best approximation /interpretation of steeply oriented mineralized envelope(s) defined to date. It is within these mineralized envelopes (>0.5% Ni) in which the Company intersected multiple zones of >1% nickel + significant cobalt mineralization. Complex off-hole BHEM responses were detected in GL23009 from ~335-370m. These zones of conductivity are interpreted to be typical of semi-massive to massive sulphides and it has been suggested this is possibly a discrete zone separate from the semi-massive sulphides intersected above the interpreted fault. The initial drillhole of the March 2024 Gochager Lake drill program is designed to test this area of complex BHEM conductivity and extend the mineralization intersected in GL23009 down plunge to depth and along strike. Also of note, increasing conductivity in GL23009 was observed building to depth beyond the end of drillhole. Furthermore, the massive sulphide vein intersected in GL23008 (3.25% Ni /0.64m) is
within 40m of the proposed drillhole, and as in GL23009, conductivity builds to depth and beyond drillhole GL23008. The initial drillhole will be drilled deep enough to test the source of building conductivity at depth.