Fathom Nickel Inc. announced results of the recently completed core review of the historic Mal Lake Nickel occurrence. Historic Mal Lake drill core is available through the Saskatchewan Ministry of Energy and Resources' Precambrian Geological Laboratory in La Ronge, SK. The Mal Lake nickel occurrence falls within the Company's 22,000+ ha Gochager Lake Property.

Highlights of the exercise and interpretation of the results are as follow: pXRF detected cobalt values up to 2,984 ppm (0.29% Co) associated within nickel-copper mineralization in historic drill hole JC-Mal-6 drilled in 1967; Note that cobalt was not assayed for at the time of the 1967 drilling; There has been no drilling and no exploration at the Mal Lake Nickel occurrence Saskatchewan Mineral Deposit Index ("SMD") I#0836] since 1967; pXRF detected several significant zones of nickel (>10,000ppm)-copper-cobalt (>1,000ppm) mineralization in historic Mal Lake drill core that was not previously split for assay; Ni/S, Ni/Cu and Ni/Co ratio plots using the Mal Lake pXRF data fall on and within the same array(s) as Gochager Lake assay data, suggesting: Mal Lake has similar nickel tenor; Mal Lake has similar nickel to copper ratio; and Very similar Ni/Co ratio of Mal Lake and similar host rock to Gochager Lake is suggestive of two very similar mineralized, mafic intrusions (gabbro) sharing a similar magma type and could very well be part of one original magma conduit system; and Mal Lake is located ~10km southeast of the Gochager Lake deposit. These drill results were obtained from the Saskatchewan Mineral Assessment Database ("SMAD"). For comparative purposes, and to illustrate the Mal Lake and Gochager Lake similar Ni/Cu ratio, four assay intervals from Fathom 2023 and 2024 drilling are included in Table 1. Refer to the QA/QC statement that suggests caution needs to be taken with the pXRF Co values and all pXRF values obtained from the 1967 drill core.

The Mal Lake occurrence (SMID#0836) is described as a quartz diorite to gabbro plug intruding the surrounding metasedimentary rocks. Surface electromagnetic surveys detected conductivity in the area which led to 1967 diamond drilling that encountered quartz diorite to gabbro hosted sulphide bands consisting of pyrrhotite and chalcopyrite mineralization.