Fathom Nickel Inc. announced the second round of drilling at the Gochager Lake project will commence on or about September 2, 2023. The drill program is expected to consist of 5 to 6 drillholes totaling approximately 1,800 - 2,000 meters. The primary purpose of the program is to test the vertical plunge extensions along strike of the very favourable drill results intersected in drillhole GL23003.

Multiple borehole electromagnetic surveys within this area of high-grade nickel mineralization have defined a complex set of steeply plunging geophysical targets. The very robust off-hole BHEM anomaly detected below drillholes GL23003, GL23004 and historic drillhole GL18002 is also a high-priority target that will be tested. The Company also anticipates drillholes designed to test continuity of conductivity as defined by surface TDEM surveys along strike of the Gochager Lake deposit and a Gochager-like area of conductivity 300 meters to the northeast.

The deep, strong conductivity detected below the two holes drilled in February 2023 and detected off-hole of a drillhole drilled in 2018, suggests the continuation of the Gochager Lake deposits at depth. The company interpret the semi-massive to massive high-grade Ni mineralization intersected in GL23003 to be occurring within a broad shell of disseminated, low-grade Ni mineralization. Furthermore, the low-grade mineralization intersected in GL 23003 below the fault, is the possible outer shell, low-grade mineralization which detects the very robust BHEM anomaly that The company anticipates to be semi-massive to massive sulphides.

The goal of the upcoming drill program is to test along strike and up and down plunge the high-grade Ni mineralisation intersected in GL23003. The Tilt Derivative is a mathematical function routinely applied to Magnetic Field Data to preferentially enhance weaker magnetic signals to map textures, structures, and edge contacts of magnetic sources. The two red polygons define target areas of TDEM conductivity the Company anticipates drilling in the upcoming drill program.

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