Mr. Ian Fraser reports

FATHOM ANNOUNCES COMMENCEMENT OF WINTER DRILL PROGRAM AT THE GOCHAGER LAKE PROJECT

The winter drill program at Fathom Nickel Inc.'s Gochager Lake project commenced late in the day on March 6, 2026. Drilling is expected to continue into the first or second week of April, dependent upon prevailing winter conditions.

Ian Fraser, Fathom chief executive officer and vice-president, exploration, stated: "Our field crews worked very hard over the course of the past two months to ensure the trail and ice conditions were safe to transport the diamond drill and ancillary equipment to site for the start of this program. With the winter trail now in place, we will eliminate our reliance on helicopter support, resulting in an expected 30-per-cent to 35-per-cent reduction in total drilling cost per metre. This increased cost-efficiency will allow us to drill more metres and, ultimately, more holes in comparison to historical, heli-supported drill programs. This drill program is now well under way, and we look forward to testing along strike of the historic Gochager Lake deposit for more Gochager-like mineralization."

The company is fully financed to complete the proposed drill program of up to 4,000 metres. In the event that the full drill program is not completed before spring breakup in mid-April, the company intends to return to Gochager in late May/early June to complete the full 3,000- to 4,000-metre program.

Qualified person and data verification

Ian Fraser, PGeo, chief executive officer, vice-president, exploration, and director of the company, 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:

• The high-grade nickel-copper-cobalt-plus-3E Rottenstone deposit mineralization extends to the south a minimum 40 metres and remains open.
• The Rottenstone deposit is potentially offset and continues within the footwall of a prominent fault defined by drilling.
• A new Rottenstone-like discovery (similar host rock and similar mineralization) by drilling 500 to 550 metres west-northwest of the historic mine; the 300-plus-metre Bay Island trend remains open along strike;
• 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 33,000-plus-hectare Gochager Lake project that hosts the historic Gochager Lake deposit. Fathom exploration to date at the Gochager Lake project confirms:

• 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.
• Multiple high-grade vertically oriented Ni-Cu-Co sulphide breccia mineralization zones and chutes occur within the historic deposit, and the chutes remain open for further expansion and delineation in all directions.
• Surface mapping and rock geochemistry have confirmed the Gochager Lake deposit host/container rock extends 3.5-plus kilometres along strike east-northeast of the deposit.
• Soil geochemistry has defined a favourable geochemical footprint, inclusive of the historic deposit, that now extends 8.6-plus km.

(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.

The Friesen Lake property hosts the Olsen 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 demonstrate copper-nickel-platinum-palladium and gold mineralization within the ultramafic dike (Saskatchewan mineral deposit index No. 0928a). To date, Fathom has not performed any exploration at the Friesen Lake project.

We seek Safe Harbor.