First Atlantic Nickel Intersects 0.23% Nickel and 0.31% Chromium Over 366 Meters in Third Drill Hole at RPM Zone, Confirming at Least 500-Meter Mineralized Width

VANCOUVER, British Columbia, April 23, 2025 (GLOBE NEWSWIRE) — First Atlantic Nickel Corp. (TSXV: FAN) (OTCQB: FANCF) (FSE: P21) (“First Atlantic” or the “Firm”) is happy to announce assay outcomes from drill gap AN-24-04, the third drill gap at the RPM Zone and the fourth in the Part 1 drilling program at its 100%-owned Atlantic Nickel Venture in central Newfoundland. The 366-meter gap intersected a mean of 0.23% nickel and 0.31% chromium over its whole size, from floor to the top of gap, confirming a big mineralized width of at least 500 meters large inside the RPM Zone (see Determine 1). These assay outcomes observe preliminary visible observations, which recognized large-grain, visibly disseminated awaruite (a sulfur-free naturally occurring nickel metallic) mineralization, in all drill holes accomplished inside the RPM Zone.

Drill gap AN-24-04, a 200-meter step-out to the east from drill gap AN-24-03 and drilled eastward towards Chrome Pond, has confirmed constant nickel mineralization throughout at least a 500-meter width of the RPM Zone (see Determine 1). The primary 4 holes have returned a mean grade of roughly 0.24% nickel. Drill gap AN-24-04 ended in mineralization, indicating that the zone stays open for enlargement alongside strike, in addition to in width and depth. These outcomes additional reinforce the RPM Zone discovery as a serious new nickel system inside the Firm’s district-scale, 30-kilometer-long ultramafic ophiolite development.

HIGHLIGHTS

• Constant & Disseminated Mineralization: Drill gap AN-24-04, the third gap drilled in the RPM Zone, intersected 0.23% nickel and 0.31% chromium over its whole 366-meter size. This end result demonstrates outstanding consistency together with earlier holes in the RPM Zone, the place all drill holes have averaged roughly 0.24% nickel.
• Confirmed 500-Meter Width: Assays outcomes verify the visually recognized, open-ended, 500-meter-wide mineralized zone, with drill gap AN-24-04 drilled eastward ending in mineralization.
• Massive-Grain Awaruite: Seen, coarse-grained awaruite, ceaselessly exceeding 500 microns and reaching as much as 1,000 microns, was noticed all through the outlet, making it nicely fitted to efficient magnetic separation processing.
• Metallurgical Testing Underway: Davis Tube Restoration (DTR) testing is at the moment underway for drill holes AN-24-04 and AN-24-05 to guage magnetically recoverable nickel content material and assess the fabric’s suitability for commercial-scale magnetic separation processing.
• Expanded RPM Zone Potential: Part 1 drilling at the RPM Zone has outlined an preliminary 400m x 500m mineralized zone. All 4 preliminary drill holes started and ended in mineralization, confirming that the system stays open for additional enlargement alongside strike, in addition to in width and depth.
• Part 2 Drilling: Increasing RPM Zone: Part 2 drilling will goal large-scale step-outs to develop the recognized dimensions of the RPM Zone and consider continuity with the close by Chrome Pond space, probably defining a bigger, contiguous mineralized system.

For additional info, questions, or investor inquiries, please contact Rob Guzman at First Atlantic Nickel by cellphone at +1-844-592-6337 or through e-mail at rob@fanickel.com.

RPM ZONE: DRILL HOLE AN-24-04 OVERVIEW

Drill gap AN-24-04, additionally known as RPM-DDH003 (See Determine 3 and 4), was a 200-meter step-out gap to the east and drilled eastward from the preliminary discovery gap, AN-24-02 (RPM-DDH001). The opening reached a depth of 366 meters and intersected serpentinized peridotite ultramafic rock internet hosting disseminated awaruite (a naturally occurring sulfur-free nickel metallic) mineralization from floor to finish of the outlet. Assay outcomes confirmed a mean of 0.23% nickel and 0.31% chromium over your entire 366-meter interval, with peak values reaching as much as 0.28% nickel and 0.86% chromium. The opening ended in mineralization, suggesting the system stays open for additional extension each eastward and at depth.

Massive-grain awaruite, starting from 100 to 600 microns (see Determine 3 and 4) was visually noticed disseminated all through the drill core. Notably, elongated awaruite grains measuring as much as 1,000 microns had been recorded at a depth of 180 meters, additional reinforcing the zone’s potential for cost-effective processing by way of magnetic separation. The demonstrated consistency of mineralization throughout the RPM zone has already outlined an preliminary open-ended mineralized space measuring roughly 500 m large x 400m lengthy, primarily based on simply 4 drill holes.

Desk 1: AN-24-04 Drilling Assay outcomes over whole drill gap size.

Desk 2: AN-24-04 Drill Hole Collar Location Data.

PHASE 2 DRILLING OBJECTIVES: RPM ZONE EXPANSION

The totally funded Part 2 drilling program is ready to start out quickly, with Part 2 gear now arriving following the profitable completion of street entry. This part will make use of a higher-powered drill rig outfitted with NQ/HQ core capabilities and will give attention to the next key aims:

1. Broaden the open 500-meter by 400-meter mineralized footprint by way of large-scale step-out drilling.
2. Take a look at deeper mineralization to higher outline the vertical extent of the RPM Zone.
3. Examine continuity between the RPM Zone and the close by Chrome Pond space to find out whether or not they kind a single, bigger mineralized system.
4. Discover further targets alongside the 30-kilometer ultramafic ophiolite development.

Constructing on the success of the Part 1 program, which delineated an open-ended mineralized space measuring roughly 500 meters in lateral width and 400 meters in size, Part 2 is designed to considerably advance the geological understanding and useful resource potential of the RPM Zone. Awaruite (a pure nickel metallic) mineralization has been confirmed in all 4 Part 1 drill holes, with assays returning a mean of roughly 0.24% nickel. Importantly, all holes started and ended in mineralization, underscoring the open nature of the system alongside strike, at depth, and laterally, providing sturdy potential for additional enlargement in Part 2.

Determine 1: Cross-sectional view of RPM drill holes AN-24-02, AN-24-03, and AN-24-04, displaying downhole assay values for nickel and chromium. All reported holes terminate in mineralized rock, displaying a mineralized width averaging 0.24% Nickel over 500m indicating potential for additional enlargement.

Determine 2: Map of the 30-kilometer-long nickel development, displaying the places of Part 1 drill holes and related nickel and chromium assay outcomes for AN-24-01, AN-24-02, AN-24-03, and AN-24-04.

Determine 3: Core pattern from drill gap RPM-DDH003 (AN-24-04) at a depth of 100 meters, displaying seen awaruite mineralization. The decrease photos element magnified views of awaruite grains, which exhibit each easy and grooved floor textures, with grain sizes starting from 422 to 651 microns.

Determine 4: Core pattern from drill gap RPM-DDH003 (AN-24-04) at a depth of 180 meters, that includes seen awaruite mineralization. The decrease photos showcase magnified views of the awaruite grains, displaying easy and grooved floor textures. An elongated awaruite nickel-alloy grain, measuring as much as 1,000 microns in dimension, is noticed forming as a fracture filling, whereas common seen grain sizes vary from 100 – 600 microns.

METALLURGICAL PROGRAM

Davis Tube Restoration (DTR) testing is underway for drill holes AN-24-04 and AN-24-05 to quantify the magnetically recoverable nickel content material and assess the undertaking’s suitability for commercial-scale magnetic separation. These outcomes will kind the muse of a broader metallurgical program aimed at growing a course of flowsheet. The deliberate program will incorporate pilot-scale magnetic separation as the first beneficiation methodology, adopted by gravity separation or flotation to supply a saleable nickel focus. The presence of large-grain awaruite, ceaselessly exceeding 500 microns, helps the potential for cost-effective, smelter-free processing. This strategy aligns with the Firm’s technique to advance environmentally accountable growth whereas contributing to the strengthening of North America’s important minerals provide chain.

Awaruite (Nickel-iron alloy Ni₂Fe, Ni₃Fe)

Awaruite, a naturally occurring sulfur-free nickel-iron alloy composed of Ni₃Fe or Ni₂Fe with roughly ~75% nickel content material, gives a confirmed and environmentally secure answer to boost the resilience and safety of North America’s home important minerals provide chain. Not like standard nickel sources, awaruite will be processed into high-grade concentrates exceeding 60% nickel content material by way of magnetic processing and easy floatation with out the necessity for smelting, roasting, or high-pressure acid leaching¹. Starting in 2025, the US Inflation Discount Act’s (IRA) $7,500 electrical car (EV) tax credit score mandates that eligible clear autos should not comprise any important minerals processed by international entities of concern (FEOC)². These entities embody Russia and China, which at the moment dominate the worldwide nickel smelting trade. Awaruite’s smelter-free processing strategy may probably assist North American electrical car producers meet the IRA’s stringent important mineral necessities and scale back dependence on FEOCs for nickel processing.

The U.S. Geological Survey (USGS) highlighted awaruite’s potential, stating, “The event of awaruite deposits in different elements of Canada might assist alleviate any extended scarcity of nickel focus. Awaruite, a pure iron-nickel alloy, is way simpler to pay attention than pentlandite, the principal sulfide of nickel”³. Awaruite’s distinctive properties allow cleaner and safer processing in comparison with standard sulfide and laterite nickel sources, which frequently contain smelting, roasting, or high-pressure acid leaching that may launch poisonous sulfur dioxide, generate hazardous waste, and result in acid mine drainage. Awaruite’s easier processing, facilitated by its amenability to magnetic processing and lack of sulfur, eliminates these dangerous strategies, decreasing greenhouse fuel emissions and dangers related to poisonous chemical launch, addressing issues concerning the giant carbon footprint and poisonous emissions linked to nickel refining.

Determine 5: Quote from USGS on Awaruite Deposits in Canada.

The event of awaruite sources is essential, given China’s management in the worldwide nickel market. Chinese language firms refine and smelt 68% to 80% of the world’s nickel⁴ and management an estimated 84% of Indonesia’s nickel output, the biggest worldwide provide⁵. Awaruite is a cleaner supply of nickel that reduces dependence on international processing managed by China, resulting in a safer and dependable provide for North America’s stainless-steel and electrical car industries.

Investor Data                

The Firm’s frequent shares commerce on the TSX Enterprise Change beneath the image “FAN“, the American OTCQB Change beneath the image “FANCF” and on a number of German exchanges, together with Frankfurt and Tradegate, beneath the image “P21“.

Traders can get updates about First Atlantic by signing as much as obtain information through e-mail and SMS textual content at www.fanickel.com. Keep related and be taught extra by following us on these social media platforms:

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FOR MORE INFORMATION:
First Atlantic Investor Relations
Robert Guzman
Tel: +1 844 592 6337
rob@fanickel.com

Disclosure

Adrian Smith, P.Geo., is a professional particular person as outlined by NI 43-101. The certified particular person is a member in good standing of the Skilled Engineers and Geoscientists Newfoundland and Labrador (PEGNL) and is a registered skilled geoscientist (P.Geo.). Mr. Smith has reviewed and authorised the technical info disclosed herein.

Analytical Methodology & QAQC

Samples had been break up in half on website with one half remaining in the core field for future reference and one half packaged in safe baggage. QAQC methodology included using blanks, duplicates and licensed reference materials (requirements) with one being inserted as soon as in each 20 samples in order to check the precision and accuracy of the lab. All outcomes handed the QA/QC screening at the lab, and all firm inserted requirements and blanks returned outcomes that had been inside acceptable limits.

Samples had been despatched to Activation Laboratories LTD (“Actlabs”) in Fredericton, NB. Actlabs is an ISO 17025 licensed lab, accredited and performing independently from First Atlantic Nickel. Every pattern was crushed, with a 250 g sub-sample pulverized to 95% – 200 mesh. A portion of the pattern is fused with a lithium metaborate/tetraborate flux and analyzed by ICP-OES for main oxides and components together with cobalt, chromium and nickel.

True widths are at the moment unknown. Nonetheless, the nickel bearing ultramafic ophiolite and peridotite rocks being focused and sampled in the Part 1 drilling program at the Atlantic Nickel Venture are mapped as a number of hundred meters to over 1 kilometer large and roughly 30 kilometers lengthy.

About First Atlantic Nickel Corp.

First Atlantic Nickel Corp. (TSXV: FAN) (OTCQB: FANCF) (FSE: P21) is a Canadian mineral exploration firm growing the 100%-owned Atlantic Nickel Venture, a large-scale nickel undertaking strategically positioned close to present infrastructure in Newfoundland, Canada. The Venture’s nickel happens as awaruite, a pure nickel-iron alloy containing roughly 75% nickel with no-sulfur and no-sulfides. Awaruite’s properties permit for smelter-free magnetic separation and focus, which may strengthen North America’s important minerals provide chain by decreasing international dependence on nickel smelting. This aligns with new US Electrical Automobile US IRA necessities, which stipulate that starting in 2025, an eligible clear car might not comprise any important minerals processed by a FEOC (International Entities Of Concern)⁶.

First Atlantic goals to be a key enter of a safe and dependable North American important minerals provide chain for the stainless-steel and electrical car industries in the USA and Canada. The corporate is positioned to satisfy the rising demand for responsibly sourced nickel that complies with the important mineral necessities for eligible clear autos beneath the US IRA. With its dedication to accountable practices and skilled workforce, First Atlantic is poised to contribute considerably to the nickel trade’s future, supporting the transition to a cleaner power panorama. This mission gained significance when the US added nickel to its important minerals checklist in 2022, recognizing it as a non-fuel mineral important to financial and nationwide safety with a provide chain weak to disruption.

Neither the TSX Enterprise Change nor its Regulation Companies Supplier (as that time period is outlined in insurance policies of the TSX Enterprise Change) accepts accountability for the adequacy or accuracy of this launch.

Ahead-looking statements:

This information launch might embody “forward-looking info” beneath relevant Canadian securities laws. Such forward-looking info displays administration’s present beliefs and are primarily based on a variety of estimates and/or assumptions made by and info at the moment obtainable to the Firm that, whereas thought of affordable, are topic to recognized and unknown dangers, uncertainties, and different components which will trigger the precise outcomes and future occasions to vary materially from these expressed or implied by such forward-looking info. Ahead trying info in this information launch consists of, however just isn’t restricted to, expectations relating to the timing, scope, and outcomes from the Part 1 work and drilling program; outcomes from the Part 2 work and drilling program, future undertaking developments, the Firm’s aims, objectives or future plans, statements, and estimates of market circumstances. Readers are cautioned that such forward-looking info are neither guarantees nor ensures and are topic to recognized and unknown dangers and uncertainties together with, however not restricted to, common enterprise, financial, aggressive, political and social uncertainties, unsure and risky fairness and capital markets, lack of accessible capital, precise outcomes of exploration actions, environmental dangers, future costs of base and different metals, working dangers, accidents, labour points, delays in acquiring governmental approvals and permits, and different dangers in the mining trade. Further components and dangers together with varied threat components mentioned in the Firm’s disclosure paperwork which will be discovered beneath the Firm’s profile on http://www.sedarplus.ca. Ought to a number of of those dangers or uncertainties materialize, or ought to assumptions underlying the forward-looking statements show incorrect, precise outcomes might fluctuate materially from these described herein as meant, deliberate, anticipated, believed, estimated or anticipated.

The Firm is presently an exploration stage firm. Exploration is extremely speculative in nature, entails many dangers, requires substantial expenditures, and might not end result in the invention of mineral deposits that may be mined profitably. Moreover, the Firm at the moment has no reserves on any of its properties. Because of this, there will be no assurance that such forward-looking statements will show to be correct, and precise outcomes and future occasions may differ materially from these anticipated in such statements. 

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¹ https://fpxnickel.com/projects-overview/what-is-awaruite/
² https://house.treasury.gov/information/press-releases/jy1939
³ https://d9-wret.s3.us-west-2.amazonaws.com/property/palladium/manufacturing/mineral-pubs/nickel/mcs-2012-nicke.pdf
⁴ https://www.brookings.edu/wp-content/uploads/2022/08/LTRC_ChinaSupplyChain.pdf
⁵ https://www.airuniversity.af.edu/JIPA/Show/Article/3703867/the-rise-of-great-mineral-powers/
⁶ https://house.treasury.gov/information/press-releases/jy1939

Photographs accompanying this announcement can be found at

https://www.globenewswire.com/NewsRoom/AttachmentNg/3d2a2d4d-c1ac-46ff-a016-137a425603b8

https://www.globenewswire.com/NewsRoom/AttachmentNg/a2a3561b-b4d3-4c2a-a031-b7ee1345679a

https://www.globenewswire.com/NewsRoom/AttachmentNg/b800b18e-f618-499f-bbfc-9280a70d2b3a

https://www.globenewswire.com/NewsRoom/AttachmentNg/252752e6-f99a-4fe3-aa1b-7ef2362a489b

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