Completion Drill Program At Gochager Lake Property

CALGARY - Ian Fraser, CEO and VP Exploration of Fathom Nickel Inc. reported the completion of the Fall 2023 drill program at the historic Gochager Lake deposit within the Company's 22,620 Ha Gochager Lake Project. "The recently completed drill program has accomplished exactly what we set out to do. We now have a much better understanding of geological controls on the impressive nickel-cobalt values intersected in GL23003 and we have been able to extend this mineralization both up and down plunge. We are dealing with a very dynamic intrusive at Gochager Lake and we are very encouraged to be intersecting a wide range of sulphide textures typical of magmatic nickel sulphide deposits. We confirmed that the deep off-hole conductor detected in historic drillhole GL18002 is associated with a build up of semi-massive to massive sulphide mineralization at depth. Furthermore, BHEM continues to indicate conductivity build-up beyond the bottom of several drillholes, suggesting the possible continuation of mineralization at depth. We look forward to continuing to demonstrate that there are chutes of high-grade nickel-copper-cobalt mineralization within the historic Gochager Lake deposit. We also look forward to defining the source, or the "feeder", of the magmatic sulphide textures we continue to consistently encounter at the Gochager Lake deposit.

In respect of the step-out drillhole 400 meters northeast of the Gochager Lake deposit. We are also very encouraged and intrigued with the presence of massive sulphide veinlets occurring in GL23011 - some 400 meters from the known Gochager Lake deposit. Additionally, BHEM identified two prominent off-hole anomalies occurring within favourable host rock proximate to the off-hole anomalies. GL23011 was a follow-up to a VTEM anomaly first detected in 2008 but never drilled until now."