First Atlantic Nickel Intersects 0.25% Nickel and 0.29% Chromium in Second Discovery Drill Hole at RPM Zone, Confirming Mineralized Width of 300 Meters, with Nickel Grade Increasing to 0.27% in Final 21 Meters Into Fault Zone

VANCOUVER, British Columbia, March 27, 2025 (GLOBE NEWSWIRE) -- First Atlantic Nickel Corp. (TSXV: FAN) (OTCQB: FANCF) (FSE: P21) ("First Atlantic" or the "Company") is pleased to announce the assay results from drill hole AN-24-03, the third drill hole of the Phase 1 program and the second drill hole at the RPM Zone, located within its 100%-owned Atlantic Nickel Project in central Newfoundland. The 234-meter hole intersected an average of 0.25% nickel and 0.29% chromium over a continuous 216 meter interval, starting at a depth of 18 meters (post-overburden) and continuing to the end of the hole. Notably, grades increased to 0.27% nickel over the final 21 meters. Drilled westward from the same collar as the initial RPM discovery hole (AN-24-02) which was drilled to the east (see Figure 1), AN-24-03 terminated in a heavily sheared and faulted zone of serpentinized peridotite. The Phase 1 drill rig did not have sufficient power to penetrate this fault zone. Given the increasing nickel grades observed towards the bottom of the hole, Phase 2 drilling will utilize a more powerful drill rig to test further westward into the fault zone and potentially expand the mineralized boundary.

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