Mr. Ian Fraser reports

FATHOM ANNOUNCES ADDITIONAL PROSPECTING PROGRAM WITHIN EXPANDED FOOTPRINT AT THE GOCHAGER LAKE PROJECT

Geology crews have mobilized back to Fathom Nickel Inc.'s Gochager Lake project to perform additional prospecting and pXRF (portable X-ray florescence) rock geochemistry on outcrop that was newly exposed after the recent regional wildfire (Fathom press release dated Aug. 18, 2025).

The expanded footprint refers to favourable mineralized gabbroic-pyroxenite (ultramafic) rock types confirmed by prospecting, and anomalous pXRF rock geochemistry occurring up to 1.4 kilometres along strike to the east-northeast of the historic Gochager Lake deposit. Geology crews have returned to the property to continue the exercise of collecting chip samples at newly exposed outcrop and the scanning of individual chip samples on site with a pXRF device. Samples of non-mineralized and mineralized gabbro-pyroxenite will also be collected and submitted for multielement assay, as well as for whole rock geochemistry analysis. The program is anticipated to last approximately one week. Refer to the map insert and specifically area in grey for the location of the prospecting and rock geochemistry program.

Ian Fraser, Fathom chief executive officer and vice-president of exploration, stated: "I was recently at the Gochager Lake project and witnessed the extent of the wildfire firsthand. It was very evident that outcrop exposure has increased immensely as a result of the wildfire. The wildfire has exposed more of the favourable gabbro unit in areas previously prospected and, importantly, in areas where thick forest and overburden cover made prospecting very difficult. Our chip sampling pXRF methodology has been very successful in identifying more of the favourable gabbro-pyroxenite units (host to the historic Gochager Lake deposit) along strike to the east-northeast. We are confident this program will add more definition to the expanded footprint and expand the favourable gabbro-pyroxenite units further along strike in what is developing into a gabbro-pyroxenite corridor that is now a minimum of 1.4 km in strike."

The company has begun to receive initial soil geochemistry results and anticipates having all soil and rock geochemistry assay results by mid-October. Results will be released upon complete evaluation and analysis of all soil and rock geochemistry samples.

Quality assurance/quality control (QA/QC) disclosure statement

As part of its continuing exploration activities, Fathom is utilizing a portable Vanta XRF Analyzer (pXRF) to provide real-time lithogeochemical, multielement data on surface rock chip samples and rock grab samples collected in the field. The Vanta XRF Analyzer is a handheld device, held in position for a total 120 seconds -- beam 1 (30 seconds), beam 2 (60 seconds) and beam 3 (30 seconds) to allow for an effective reading of elements occurring at that specific point, and at that specific surface of a rock sample. All elements detected at that specific point; nickel, copper, cobalt plus key pathfinder elements, chrome and magnesium, are recorded. The reader is cautioned that pXRF data should be treated only as an indication of elements, as the accuracy of the beam position on a particular element is variable.

Qualified person and data verification

Ian Fraser, PGeo, chief executive officer, vice-president of 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 secure the supply of North American critical minerals and to support the global green energy transition. 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 hosts the historic Rottenstone mine. Fathom exploration to date at the Albert Lake project confirms:
   1. The high-grade Ni-Cu-Co+3E (nickel-copper-cobalt) Rottenstone deposit mineralization extends to the south a minimum 40 metres and remains open.
   2. The Rottenstone deposit is potentially offset and continues within the footwall of a prominent fault defined by drilling.
   3. A new Rottenstone-like discovery (similar host rock and similar mineralization) by drilling 500 to 550 m west-northwest of the historic mine; the 300-plus m Bay Island trend, remains open along strike.
   4. Similar Rottenstone-like host rock and mineralization intersected by drilling approximately 1.5 km south-southwest of the historic mine (the Nic5-Tremblay-Olson area).
2. The 34,000-plus-hectare Gochager Lake project that hosts the historic Gochager Lake deposit. Fathom exploration to date at the Gochager Lake project confirms:
   1. Vertical extension of Ni-Cu-Co mineralization a minimum of 150 m below the historic Gochager Lake deposit interpreted boundary, and very good potential for expansion of mineralization in all directions.
   2. Multiple high-grade vertically oriented Ni-Cu-Co sulphide breccia mineralization zones and chutes occur within the historic deposit, and the zones, chutes remain open for further expansion and delineation in all directions.
   3. Surface mapping and soil/rock geochemistry has confirmed the Gochager Lake deposit host rock and mineralization style; the footprint extends a minimum 1.4 km to the east-northeast and remains open for expansion along strike.
3. The 10,000-plus-hectare Friesen Lake project located 40 km southwest of the historic Rottenstone mine and 30 km northwest of the historic Gochager Lake deposit.

The Friesen Lake property hosts the Olsen Cu-Ni-Pt (copper-nickel-platinum) showing also referred to as the Friesen Lake Cu-Ni-Pt showing and is described as an ultramafic dike that historic trenching and drilling demonstrates Cu-Ni-Pt-Pd and Au mineralization within the ultramafic dike (Saskatchewan Mineral Deposit Index (SMID) No. 0928a). To date Fathom has not performed any exploration at the Friesen Lake project.

We seek Safe Harbor.