Fathom Nickel Inc. announced that with the final cash payment of $75,000, it has now fulfilled all requirements under the agreement to acquire the Watts Lake Mineral Claims from SKRR Exploration Inc., dated March 21, 2023, 1. As a result, Fathom now holds 100% of Watts Lake, consisting of twenty-four (24) mineral claims totaling 13,708 hectares. Watts Lake, together with the lands covered by the original Gochager Lake Option Agreement and subsequent staking (ten mineral claims in all, totaling 5,851 hectares) now encompasses a contiguous land package of 19,559 hectares, collectively referred to as the "Gochager Lake Property". Summer Exploration Update.

The Company is currently finalizing its plans for the initial phases of exploration at both Gochager Lake and Albert Lake. Geophysical crews are expected to mobilize to Gochager Lake on June 6 and initiate a geophysical program expected to last two to three weeks. A separate geophysical crew is expected to mobilize to Albert Lake later in June.

Gochager Lake Program. The Gochager Lake geophysical program will consist of additional borehole electromagnetic ("BHEM") surveys on all drillholes probed in the First Quarter-2023 drilling program utilizing a multiple-loop configuration and Induction and Fluxgate ("FG") Probes. The same loop configuration will be used to run surface profiles in the area of the high-grade nickel mineralization encountered in the first quarter drilling.

The goal of these surveys will be to better define the orientation and geometry of what The company anticipates are steeply plunging, highly-conductive, semi-massive to massive sulphide, nickel bearing lenses. It is anticipated that certain historic drillholes drilled in 1989-1990 will be open for additional BHEM surveys. Once the BHEM and surface EM results are interpreted and modelled, the Company can then design proper drilling azimuths and dips to be utilized in a drill program expected To begin mid-summer.