First Atlantic Nickel Renames Atlantic Nickel Project to Pipestone XL to Reflect 100% Ownership of 30 km Pipestone Ophiolite Complex and Provides Updates on RPM Phase 2x Program

GRAND FALLS-WINDSOR, Newfoundland and Labrador, Sept. 24, 2025 (GLOBE NEWSWIRE) -- First Atlantic Nickel Corp. (TSXV: FAN) (OTCQB: FANCF) (FSE: P21) ("First Atlantic" or the "Company") is pleased to announce that it has renamed its flagship Atlantic Nickel Project to Pipestone XL, reflecting the Company's 100% ownership of the entire 30-kilometer Pipestone Ophiolite Ultramafic Complex. The new name emphasizes the district-scale potential of the project, which hosts multiple zones of awaruite (Ni3Fe) nickel alloy mineralization, including the high-priority RPM Zone, the Super Gulp Zone, the historical Atlantic Lake Zone, and additional discoveries of visible awaruite mineralization discovered during the Company’s 2025 regional exploration program throughout the complex. The RPM Phase 2 drilling program will now be referred to as Phase 2X, underscoring the Company's objective to double (“2X”) both the strike length and expand the width of awaruite mineralization established during the Phase 1 drill program at the RPM Zone. The Pipestone XL name also highlights the project's clean energy potential, including ongoing geologic hydrogen research in partnership with Colorado School of Mines announced March 19, 2025.

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