Fathom Nickel Inc. announced results of the first drill program at the Company's 100% owned Albert Lake Project. Additionally, effective April 8, 2024, drilling has been completed at the Gochager Lake Project. Assays for the Gochager Lake project are expected to be released by the end of May.

Highlights of First Quarter Albert Lake Project drill program: Six drillholes (AL24075 - AL24080), totaling 1,386 meters drilled at the project. Drillhole AL24077 intersected 0.42% Ni over an intersection of 2.01 meters. Importantly, this nickel mineralization is hosted in orthopyroxenite.

The source of this anomaly has not yet been tested by drilling, nor has the continuation along strike of the mineralized ultramafic interval occurring at 25.44-27.45m. AL24078. Designed to drill below a surface gossan within an area of highly anomalous soil geochemistry.

A mafic unit interpreted to be gabbro was intersected at 72.7-78.8m. A Couloir press release issued on April 3, 2024, announcing this arrangement, contained certain misleading information that company feel is in need of clarification: Fathom's 2-tranche financing that closed in Dec. 2023 and Feb.

2024, totaling approximately $4.5 million raised, was sufficient to complete the Company's H1 exploration programs at the Albert Lake and Gochager Lake projects and add approximately $1 million working capital to the Company's treasury. The new exploration permit application for the Gochager Lake projects, submitted to the Saskatchewan Ministry of Environment on January 19, 2024, is under review. The application indicates and requests that the Company will drill up to 15,000 meters at the Gochager Lake project.

To facilitate this anticipated and future drilling additional exploration, the Company will establish a 20-25-person camp on the Gochager Lake property. Quality Assurance /QC Disclosure Statement. Fathom implements an industry-standard QA/QC for all field and diamond drill programs. Fathom, through the services of TerraLogic Exploration Inc., inserts QA/QC samples in its diamond drill programs at a rate of one sample per approximately every 12-13 samples collected.

Standards sourced from CDN Resource Laboratories and CCRMP were inserted into the sample stream at a rate of 1 in 30 samples. The Saskatchewan Mineral Deposit Index (SMID#0950) Tremblay-Olson Ni-Cu Deposit or Showing. The Saskatchewan Mineral Deposit Index reports drill indicated reserves at the historic Gochager Lake Deposit of 4,262,400 tons grading 0.295% Ni and 0.081% Cu mineable by open pit.