First Atlantic Nickel Unveils Initial Phase 2 Drill Plan Map with Drilling Underway Following Phase 1 Discovery at RPM Zone Confirming First Large-Scale Awaruite in the Atlantic

GRAND FALLS-WINDSOR, Newfoundland and Labrador, July 23, 2025 (GLOBE NEWSWIRE) -- First Atlantic Nickel Corp. (TSXV: FAN) (OTCQB: FANCF) (FSE: P21) ("First Atlantic" or the "Company") is pleased to announce the release of its Initial Phase 2 Drill Plan Map detailing the locations of the first five holes at the RPM Zone, within its 100%-owned Atlantic Nickel Project in central Newfoundland. The recently completed Phase 1 drilling program successfully defined a near-surface mineralized zone measuring approximately 400m x 500m containing magnetically recoverable awaruite nickel mineralization. All Phase 1 RPM Zone drill holes intersected broad, continuous zones of mineralization, yielding consistent grades and recoveries. Metallurgical testing via the Davis Tube Recovery (DTR) method yielded an average magnetically recoverable nickel grade (DTR Ni%) of 0.13%, with an average magnetic nickel concentrate of 1.41% Ni and an average mass pull of 9.1%. These results indicate an average total nickel recovery of 54% based on an initial total nickel grade of 0.24%. The mineralized system at the RPM Zone remains open in all directions, presenting significant exploration upside. The fully funded Phase 2 drilling program is now underway and designed to further expand on this discovery—the first widely disseminated, drilled awaruite discovery in the Atlantic.

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