Mr. Richard Penn reports

FIRST ATLAS ANNOUNCES CLOSING OF $2.1 MILLION BOUGHT DEAL LIFE OFFERING OF UNITS

First Atlas Resources Corp. has completed its previously announced bought deal private placement offering pursuant to which the company issued 30,250,428 units of the company at a price of seven cents per unit for aggregate gross proceeds of $2,117,529.96, including the partial exercise of the overallotment option. The offering was led by Research Capital Corp. as the sole underwriter and sole bookrunner.

Each unit will consist of one common share of the company and one common share purchase warrant. Each warrant shall entitle the holder to purchase one common share of the company at an exercise price of nine cents until June 8, 2029.

The company intends to use the net proceeds from the offering for general working capital purposes.

The units were issued pursuant to the listed issuer financing exemption under Part 5A of National Instrument 45-106, Prospectus Exemptions, as amended by Coordinated Blanket Order 45-935, Exemptions from Certain Conditions of the Listed Issuer Financing Exemption, in all provinces of Canada. The units issued to purchasers under the listed issuer financing exemption are not subject to a hold period in Canada in accordance with applicable Canadian securities laws. The broker warrants and advisory warrants (as both terms are defined herein) are subject to a statutory hold period in accordance with applicable Canadian securities laws, expiring on Oct. 9, 2026. The offering remains subject to the final approval of the Canadian Securities Exchange.

In connection with the offering, the company paid the underwriter a cash commission of $117,446 and issued to the underwriter 1,677,800 broker warrants. Each broker warrant is exercisable to acquire one unit at a price of seven cents per unit until June 8, 2029. In addition, the company paid an advisory fee of $25,000 plus tax and issued 350,000 advisory warrants of the company on the same terms as the broker warrants. The company also paid a finder's fee of $22,779.20 to EMD Financial Inc.

About First Atlas Resources Corp.

First Atlas Resources is a Canadian exploration company focused on the discovery of natural hydrogen resources in Nova Scotia. The company is advancing a systematic exploration program across the Cobequid Chedabucto structural corridor using modern geological and geophysical targeting methodologies.

We seek Safe Harbor.