Fathom Commences 2021 Summer / Fall Exploration Program at the Albert Lake Property

  • Commences 2021 Summer / Fall Exploration and Drilling Program at Albert Lake Nickel, Copper, Cobalt, PGE Sulphide Project in Saskatchewan.
  • Field exploration crews arrived on site during the week of June 14 to commence five-month field program.
  • Contracted Initial Exploration Services and TerraLogic Exploration to conduct borehole EM (BHEM), gravity surveys, soil geochemistry, geological mapping, prospecting and core drilling.
  • Commencing mid-July, BECI Exploration Consulting will conduct a Heliborne AirTEM survey (1,500 l-km) detailing the Island Showing discovery area and specific targets within the 2021 exploration area.
  • Initial focus of program is to define and refine drilling targets for 2021 and 2022.
  • Drilling program consisting of 5,000m for identified targets scheduled to begin late August.

Calgary, Alberta--(Newsfile Corp. - June 22, 2021) -  Fathom Nickel Inc. (CSE:FNI) (FSE: 6Q5) (the "Company" or "Fathom") , announces the summer / fall exploration program has commenced at its Saskatchewan Albert Lake Nickel, Copper, PGE project and provides an overview of the planned activities including a 5,000m drill program scheduled to begin late August (the "2021 Summer / Fall Exploration and Drilling Program").

Field exploration crews arrived at the Albert Lake camp during the week of June 14, 2021 to kick off a five-month field program. Fathom has contracted the services of Initial Exploration Services and TerraLogic Exploration who will conduct borehole EM ("BHEM"), gravity surveys, soil geochemistry, geological mapping, prospecting and core drilling. In addition, the Company has retained BECI Exploration Consulting to conduct a1,500 l-km heliborne AirTEM ("AirTEM") survey detailing the Island Showing discovery area and specific targets within the 2021 exploration area scheduled to commence in mid-July. The exploration program is focussed on the definition and refinement of drill targets to be drilled during the second half of the 2021 program and the Q1 2022 winter drill program.

"We are eager to begin our 2021 Summer / Fall Exploration and Drilling Program which builds on the key learnings from the Q1-2021 Program results. Our increased understanding of the historic Rottenstone deposit and the now recognized similarities at our Island Showing discovery area has the Company poised to make additional Rottenstone-type discoveries," commented Brad Van Den Bussche, President and CEO. "With dozens of potential high-quality targets under consideration and in refinement, our overarching goal is to identify multiple new discoveries on the Albert Lake Project and ultimately begin the process of building out a compliant resource," he added.

2021 Summer / Fall Exploration and Drilling Program Initiatives:

  • Complete borehole EM of historic drillholes and detailing areas where the Company recognizes Rottenstone-type host rock, and further detailing areas where off-hole conductivity has been recognized which the Company interprets to be representative of sulphide mineralization.
  • Follow-up and continuation of soil geochemistry initiated in 2018, along trend of the historic Rottenstone deposit to detail a historic B-horizon soil sample that returned 155ppm Ni, 70ppm Cu and 411ppb Pt 5km northeast of the Rottenstone deposit and to blanket new target areas with soil geochemistry.
  • Geological mapping focused on structure and targeting, identifying prospective rock types (ultramafic) and structural settings that have potential to host Rottenstone-type deposits.
  • Perform gravity survey on land to continue the survey initiated on lake ice in Q1-2021.
  • Complete AirTEM to better define the conductivity recognized off-hole in drillhole AL21021 (see press release June 7, 2021) and to test for conductivity associated with MAG anomalies defined in Q1-2021 property-wide, 9000 l-km, high resolution, Gradient MAG survey.
  • Drill high-priority, drill-ready targets identified through extensive compilation of historical BHEM data, coincident with geochemical and geophysical anomalies (as identified in Figure 2).

In addition to the drill-ready targets the Company looks forward to interpreting the results of the summer AirTEM survey, in conjunction with the Gradient MAG, Gravity surveys and surface geochemistry and geology programs that are all designed to define additional drill-ready targets the company intends to drill test in late-summer to fall 2021 and into Q1-2022.

Management expects to provide regular updates on the exploration program as milestones are achieved and material developments and results are available. Drilling is scheduled to begin in late August.

Figure - 1: Fathom 2021 Summer / Fall Exploration and Drilling Program Milestones

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Figure - 2: 2021 Summer / Fall Exploration and Drilling Program Targets

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Qualified Person and Data Verification

Ian Fraser, PGeo., VP 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 Nickel is a resource development and exploration company that is targeting high-grade nickel sulfide discoveries for use in the rapidly growing global electric vehicle market.

The Company is accelerating exploration on its flagship Albert Lake Project, host to the historic Rottenstone mine, which is recognized as one of the highest‐grade (Nickel, Copper, Platinum group metals) deposits of its type ever mined in Canada. The Albert Lake Project consists of over 90,000 ha of mineral claims located in the Trans-Hudson Corridor of Saskatchewan, which is home to numerous world-class mining camps.

ON BEHALF OF THE BOARD

"Brad Van Den Bussche"
President and CEO, Director

For Further Information Please Contact:

Brad Van Den Bussche

or

Manish Grigo, Director of Corporate Development
+1-416-569-3292
Email: ir@fathomnickel.com

Forward Looking Statements:

This news release contains "forward-looking statements" that are based on expectations, estimates, projections and interpretations as at the date of this news release. Forward-looking statements are frequently characterized by words such as "plan", "expect", "project", "seek", "intend", "believe", "anticipate", "estimate", "suggest", "indicate" and other similar words or statements that certain events or conditions "may" or "will" occur, and include, without limitation, statements regarding the enhancement of the Company's geologic model and extending the areas of known mineralization and the Company's work towards defining a resource base. Such forward looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such risks and other factors may include, but are not limited to, the results of exploration activities; the ability of the Company to complete further exploration activities; timing and availability of external financing on acceptable terms. The Company does not undertake to update any forward-looking information except in accordance with applicable securities laws.

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