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Fathom Welcomes Former Noront Resources President and CEO, Alan Coutts to the Company's Board of Directors

Calgary, Alberta--(Newsfile Corp. - July 8, 2025) - Fathom Nickel Inc. (CSE: FNI) (FSE: 6Q5) (OTCQB: FNICF) (the "Company" or "Fathom") is very pleased to announce the addition of Mr. Alan (Al) Coutts to Fathom's Board of Directors. Mr. Coutts was the President and CEO of Toronto-based Ring of Fire developer, Noront Resources Limited ("Noront") who orchestrated the sale of Noront (including the Eagle's Nest Ni-Cu+PGE ^* property) to Wyloo Metals in 2022 at a valuation in excess of C$650 million. The Noront-Wyloo transaction was the largest nickel acquisition in the past decade.

Mr. Coutts is a professional geologist with more than 35 years of domestic and international mining experience across a range of commodities. In addition to his role at Noront, he has held various senior management positions in the exploration and mining industry, including: Executive General Manager for Australasia with Xstrata Nickel in Perth, Australia, General Manager at Noranda's Brunswick Mine in New Brunswick, Canada, General Superintendent of Falconbridge Limited's Raglan Ni-Cu-Co-Pd-Pt operations in Quebec, Canada, and Regional Exploration Manager at Falconbridge Limited overseeing base metal and gold exploration projects in Northern Ontario and Quebec Abitibi. Since retiring from full-time employment following the Noront-Wyloo transaction, Mr. Coutts has been involved in consulting assignments in the critical minerals sector.

Mr. Coutts holds a B. Sc. (First Class Honours in Geology) from the University of Alberta and holds a Professional Geoscientist (P.Geo.) designation in the Province of Ontario.

Ian Fraser, Fathom CEO and VP Exploration, stated, "We are ecstatic to welcome Al to our Board of Directors. Al's breadth of experience, both in the field as well as the boardroom will be a real boon to the Fathom team. Al's demonstrated ability to shepherd the Eagle's Nest project through complex permitting, financing and exploration challenges will be of great benefit as we move forward at Albert Lake and Gochager Lake. We see various parallels between our projects and Noront circa 2019-2020. Al's first-hand knowledge in the transaction process will be invaluable to Fathom."

"I'm joining the Fathom Nickel Board of Directors because I see a lot of the hallmarks of an emerging nickel district in the properties that Ian and his team have assembled in northeastern Saskatchewan," said Mr. Coutts. "Fathom holds an impressive package of ground in a favourable mining jurisdiction, complete with identified nickel showings, deposits and a past producing property in the same Proterozoic belt that hosts Raglan and Thompson nickel complexes."  

Qualified Person and Data Verification

Ian Fraser, P.Geo., CEO, VP Exploration and a Director of the Company and the "qualified person" as such term is defined by National Instrument 43-101, has verified the data disclosed in this news release, and has otherwise reviewed and approved the technical information in this news release on behalf of the Company.

About Fathom Nickel Inc.

Fathom is an exploration company that is targeting magmatic nickel sulphide discoveries to support the green energy transition and to secure the supply of North American Critical Minerals.

The Company now has a portfolio of three high-quality exploration projects located in the prolific Trans Hudson Corridor in Saskatchewan: 1) the Albert Lake Project, a 90,000+ hectare project that was host to the historic and past producing Rottenstone Mine¹ (produced 28,724 tons @3.3% Ni, 1.8% Cu, 9.63 g/t 3E (Pd-Pt+Au) 1965-1969), and 2) the 34,000+ hectare Gochager Lake Project that is host to a historic, NI43-101 non-compliant open pit resource consisting of 4.3M tons at 0.295% Ni and 0.081% Cu², and 3) the 10,000+ hectare Friesen Lake Project located 40km southwest of the historic Rottenstone Mine and 30km northwest of the historic Gochager Lake deposit.

* - (11.3MT 1.68% Ni, 0.87% Cu, 4.17 g/t 3E), Mineral Reserve and Resource Noront Resources Limited Technical Report (March 31, 2021).

1 - The Saskatchewan Mineral Deposit Index (SMDI #0958) reports the production grades noted above from a small open pit; the Rottenstone Mine. Fathom cannot confirm the production grade values, nor a historic resource estimate that may have been in place ahead of production. All historic records of pre-mine development and mine production are lost. The Company can confirm the historic Rottenstone open pit exists. Due to exploitation by mining (1965-1969), it is impossible to confirm production tonnage or pre-production tonnage. The Company trusts the production and grade values, as noted in SMDI #0958, to be accurate. The Company has performed test assaying of Rottenstone-type mineralization and results are consistent with reported production grades.

2 - The Saskatchewan Mineral Deposit Index (SMDI #0880) 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. Fathom cannot confirm the resource estimate, nor the parameters and methods used to prepare the reserve estimate. The estimate is not considered NI43-101 compliant and further work is required to verify this historical drill indicated reserve. Fathom drilling 2023-2024 has confirmed Ni-Cu-Co mineralization occurring at the Gochager Lake deposit.

ON BEHALF OF THE BOARD

Ian Fraser
CEO, VP Exploration, Director

Forward-Looking Statements:

This news release contains "forward-looking statements" that are based on expectations, estimates, projections and interpretations as at the date of this news release. Forward-looking statements are frequently characterized by words such as "plan", "expect", "project", "seek", "intend", "believe", "anticipate", "estimate", "suggest", "indicate" and other similar words or statements that certain events or conditions "may" or "will" occur. Forward-looking statements relate to information that is based on assumptions of management, forecasts of future results, and estimates of amounts not yet determinable. Any statements that express predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance are not statements of historical fact and may be "forward-looking statements." Forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements, including, without limitation: risks related to failure to obtain adequate financing on a timely basis and on acceptable terms; risks related to the outcome of legal proceedings; political and regulatory risks associated with mining and exploration; risks related to the maintenance of stock exchange listings; risks related to environmental regulation and liability; the potential for delays in exploration or development activities or the completion of feasibility studies; the uncertainty of profitability; risks and uncertainties relating to the interpretation of drill results, the geology, grade and continuity of mineral deposits; risks related to the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses; results of prefeasibility and feasibility studies, and the possibility that future exploration, development or mining results will not be consistent with the Company's expectations; risks related to commodity price fluctuations; and other risks and uncertainties related to the Company's prospects, properties and business detailed elsewhere in the Company's disclosure record. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances except in accordance with applicable securities laws. Actual events or results could differ materially from the Company's expectations or projections.

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