Mr. Doug Porter reports

FATHOM NICKEL ANNOUNCES NON-BROKERED UNIT OFFERING

Fathom Nickel Inc. has arranged a private placement of units. Each unit comprises one common share and one-half of a transferable common share purchase warrant, with one whole warrant entitling the holder to acquire one common share for a period of 36 months from issuance at an exercise price of seven cents. The offering is expected to be completed on a non-brokered basis under the listed issuer financing exemption set forth under Section 5A.2 of National Instrument 45-106, Prospectus Exemptions.

Pursuant to limitations imposed under the listed issuer exemption and based on an expected offering price of three cents per unit, the maximum gross proceeds of the offering are expected to be $750,000. There can be no assurance as to completion of the offering.

There is an offering document related to this offering that can be accessed under the company's profile on SEDAR+ and the company's website. Prospective investors should read this offering document before making an investment decision.

The offering will be completed by way of an exemption from the short form prospectus requirement available under Section 5A.2 of National Instrument 45-106, Prospectus Exemptions. The offering document under the listed issuer financing exemption will be filed in the provinces of British Columbia, Alberta, Manitoba, Ontario and Nova Scotia.

The gross proceeds of the offering will be used by the company to incur exploration expenses at its Gochager Lake project, located in Saskatchewan, Canada, as well as for general corporate purposes.

It is expected that the company will pay agents and/or finders an as yet to be determined cash commission based on the gross proceeds of the offering. In addition, it is expected that broker warrants to purchase an as yet to be determined number of common shares sold pursuant to the offering will be issued to agents and/or finders.

The offering is expected to close on or about Nov. 14, 2024, or such other date as the company may determine.

The offering is subject to customary closing conditions, including the approval of the securities regulatory authorities and the Canadian Securities Exchange.

About Fathom Nickel Inc.

Fathom is an exploration company that is targeting magmatic nickel sulphide discoveries to support the rapidly growing global electric vehicle market 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-plus-hectare project that was host to the historic and past-producing Rottenstone mine (produced 28,724 tons at 3.3 per cent nickel (Ni), 1.8 per cent copper (Cu), 9.63 grams per tonne (g/t) 3E (three elements) (Pd-Pt+Au (palladium, platinum plus gold)) 1965-1969); and (2) the 23,000-plus-hectare Gochager Lake project, host to a historic, National Instrument 43-101 non-compliant open-pit resource consisting of 4.3 million tons at 0.295 per cent Ni and 0.081 per cent Cu); and (3) the 10,000-plus-hectare Friesen Lake project, located 40 kilometres southwest of the historic Rottenstone mine and 30 kilometres northwest of the historic Gochager Lake deposit.

We seek Safe Harbor.