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First Atlantic Nickel Experiences Highest Awaruite DTR Grades and Restoration to Date From Enlargement Drilling at Pipestone XL Nickel Alloy Venture

EditorialBy EditorialDecember 2, 2025No Comments22 Mins Read

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Gap AN-25-10 Delivers Highest DTR Nickel Grade and Magnetic Focus Efficiency at RPM Zone; Firm Plans to Announce Extra Drilling Round Gap 10 with Optimized Drilling Designed to Proceed Eastward Enlargement Towards Chrome Pond

First Atlantic Nickel Corp. (TSXV: FAN,OTC:FANCF) (OTCQB: FANCF) (FSE: P21) (“First Atlantic” or the “Firm”) is happy to announce Davis Tube Restoration (“DTR”) metallurgical outcomes from Part 2X drill holes AN-25-09 and AN-25-10 on the RPM Zone inside its Pipestone XL Nickel Alloy Venture in central Newfoundland. Gap AN-25-10 has returned the best magnetically recoverable nickel grades and restoration thus far on the RPM Zone, averaging 0.15% DTR Ni over 228 meters from 0.22% complete nickel, with 68.62% magnetic restoration. That is calculated from 1.44% nickel in magnetic focus with a ten.48% mass pull. The outlet, positioned 200 meters east of the Firm’s earlier finest consequence (AN-24-04: 0.14% DTR Ni over 366 meters), confirms that eastward growth drilling towards Chrome Pond continues to ship above common outcomes. The outlet led to mineralization at 233 meters after encountering a clay-filled fault zone, and the Firm plans to announce further drilling round Gap AN-25-10, with optimized drilling designed to penetrate deeper and proceed the eastward growth.

Gap AN-25-10 intersected the highest-grade intervals thus far on the RPM Zone, together with 0.17% DTR Ni from 8 meters to 59 meters (51 meters) and 0.16% DTR Ni from 215 meters to 236 meters (21 meters), with as much as 2.08% nickel in magnetic focus and 99.8% nickel restoration reported from complete rock assay grades which averaged 0.22% nickel over the complete gap. The Firm’s present metallurgical program is predicated on magnetic separation previous to flotation, leveraging awaruite’s distinctive magnetic properties. The common 10.48% mass pull additional demonstrates that magnetic separation can cut back the beginning rock quantity by roughly 90%, concentrating the recoverable nickel into simply 10% of the beginning mass previous to flotation. The excessive 68.62% magnetic nickel restoration achieved in Gap AN-25-10 highlights the beneficial efficiency that awaruite nickel can obtain relative to frequent bulk-tonnage nickel sulfide mineralization.

Not like standard nickel sulfide minerals corresponding to pentlandite (Fe,Ni)₉S₈, which comprise sulfur, a non-metallic chemical ingredient that should be eliminated by way of secondary processes corresponding to smelting or roasting previous to the refining phases required to supply nickel sulphate (NiSO4) for EV battery precursor cathode energetic supplies (pCAM), awaruite (Ni₃Fe) is a naturally occurring nickel-iron-cobalt alloy that already exists in a decreased metallic state containing roughly 77% nickel. Composed solely of steel components, awaruite requires no discount or chemical processing, providing a mine-direct-to-refinery pathway that bypasses the bottleneck of restricted North American smelting capability, with the potential to unlock large-scale home nickel manufacturing for the battery provide chain. The metallurgical program continues to advance, with mineralogy, restoration, and focus testing ongoing. Along with cobalt as a byproduct, disseminated chromium happens with awaruite in all RPM Zone drill holes, and the Firm has expanded its metallurgical program to incorporate chromium as an space of curiosity for potential byproduct restoration. The metallurgical program is designed to create a marketable direct-to-refinery awaruite focus containing nickel and cobalt, and the Firm is now additionally evaluating the potential for a high-grade chromium focus. Updates on restoration, separation, and preliminary focus merchandise for nickel, chromium, and cobalt are anticipated in early 2026.

Please name 844-592-6337 or e mail rob@fanickel.com to attach with Rob Guzman, First Atlantic Nickel’s Investor Relations, for questions or extra info.

KEY HIGHLIGHTS:

  1. Greatest DTR Nickel Outcomes to Date: Gap AN-25-10 returned 0.15% DTR Ni over 228 meters, the best common magnetically recoverable nickel grade thus far on the RPM Zone, calculated from 1.44% Ni in magnetic focus with a ten.48% mass pull. This represents a 25% enhance over the RPM Zone common of 0.12% DTR Ni (calculated from 1.29% Ni focus and 9.25% mass pull).
  2. Highest-Grade Intervals – Open at Depth: Gap AN-25-10 returned 0.17% DTR Ni from 8 to 59 meters (51 m), and 0.16% DTR Ni from 215 to 236 meters (21 m), each one of the best interval grades thus far. The drill gap stopped in mineralization at 233 meters resulting from a clay-filled fault zone with plentiful magnetite. Comply with-up drilling from new collar areas will check deeper close to Gap AN-25-10.
  3. Eastward Drilling Delivers Greatest Outcomes: Gap AN-25-10, positioned 200 meters east of the earlier finest gap (AN-24-04: 0.14% DTR Ni over 366 meters), exceeded that benchmark. The eastward pattern towards Chrome Pond, the place historic sampling returned as much as 62.2% Cr₂O₃ – continues to yield the best DTR Ni grades on the property.
  4. Excessive Nickel Restoration from Awaruite: Gap AN-25-10 achieved 68.62% magnetic nickel restoration, one of the best common restoration thus far on the RPM Zone. Awaruite (Ni₃Fe) accommodates roughly 77% nickel, or 2-3x the grade of frequent nickel sulfide minerals, enabling easier magnetic focus with simpler flotation and supporting increased end-concentrate grades.
  5. Extra Drilling Deliberate: The Firm plans to announce further drilling round Gap AN-25-10. Optimized drilling is designed to check deeper and proceed growth eastward. The jap extension towards Chrome Pond stays open and is a excessive precedence goal.
  6. Chromium Co-Product Potential: Chromium happens with awaruite nickel in all RPM Zone drill holes, averaging 0.29% Cr and 0.15% DTR chromium. Mineralogy research are underway to determine chromium mineral content material and assess restoration and focus potential for a chromium by-product focus.
  7. Metallurgical Program Increasing: Mineralogy, restoration, and focus testing are ongoing. Chromite has been recognized because the chromium-bearing mineral, and the Firm is evaluating restoration strategies and processing choices. Updates on restoration, separation, and preliminary nickel, chromium, and cobalt focus merchandise are anticipated in early 2026.

HOLE AN-25-10 DELIVERS BEST RESULTS TO DATE ON EASTERN EXTENSION

Desk 01: Pipestone XL Nickel Alloy Venture – Abstract of Assay Outcomes and DTR Metallurgical Take a look at Outcomes for Drill Gap AN-25-10 (RPM Zone)

Gap ID From (m) To (m) Interval (m) Mass Pull (%) Nickel – Magnetic Focus Grade
Ni ( %)
Nickel – Complete Grade
Ni (%)
DTR Nickel Grade – Magnetically Recovered Ni (%) Complete
Nickel Restoration

(%)
Chromium – Magnetic Focus Grade
Cr (%)
Chromium Complete
Grade

Cr (%)
DTR Chromium Grade – Magnetically Recovered
Cr (%)
Cobalt – Magnetic Focus Grade
Co (%)
AN-25-10 8 236 228 10.48 1.44 0.22 0.15 68.62 1.54 0.29 0.16 0.05
together with 8 59 51 9.47 1.76 0.21 0.17 79.80 1.55 0.29 0.15 0.06
215 236 21 9.21 1.72 0.22 0.16 71.74 1.70 0.29 0.16 0.06
Together with “Up To” 15.20 2.08 0.26 0.19 99.80 2.85 0.46 0.33 0.07

Gap AN-25-10 was positioned 200 meters east of Gap AN-24-04, the Firm’s earlier finest drill gap (0.14% DTR Ni over 366 meters), to check the continuation of high-grade mineralization towards Chrome Pond. The outlet returned 0.15% DTR Ni over 228 meters from 0.22% complete nickel, with 68.62% magnetic restoration. This was calculated from 1.44% nickel in magnetic focus with a ten.48% mass pull, exceeding the RPM Zone averages of 1.29% Ni in focus and a 9.25% mass pull. This consequence represents a 25% enhance over the typical DTR Ni grade of 0.12% throughout all beforehand reported RPM Zone drill holes.

Gap AN-25-10 intersected the highest-grade intervals thus far on the RPM Zone, together with 0.17% DTR Ni from 8 to 59 meters (51 meters) and 0.16% DTR Ni from 215 to 236 meters (21 meters). These outcomes verify that the jap extension of Line Part S1 hosts one of the best magnetically recoverable nickel grades reported thus far, supported by visible observations of disseminated, large-grain awaruite mineralization all through the complete drilled interval.

Drilling was halted at 233 meters after the opening encountered a clay-filled fault zone that triggered full lack of water circulation and extreme torque on the drill rods. Drill cuttings contained plentiful magnetite that would not be washed from the borehole, stopping additional development with out risking gear harm or the drill turning into irretrievably caught downhole. Though the fault zone required suspension of drilling, the abundance of magnetite within the drill cuttings is encouraging, as awaruite generally varieties alongside magnetite throughout serpentinization. The outlet led to mineralization grading 0.16% DTR Ni over the ultimate 21 meters, confirming continuation of the system at depth. Given the importance of those outcomes, the Firm plans to announce further drilling round Gap AN-25-10, with optimized drilling designed to penetrate deeper and proceed eastward growth towards Chrome Pond.

Figure 01

Determine 01: Cross-sectional view of the RPM Zone Gap AN-24-02 to AN-24-04 and AN-25-10, exhibiting the distribution of magnetic focus and DTR nickel values. Gap AN-25-10 averages 1.44% nickel and 1.54% chromium in steady metallurgical DTR magnetic focus, with a mean 10.48% Mass Pull and 0.15% DTR nickel over 228 meters.

Desk 02: Drill Gap Collar Location Data

Gap ID Easting (UTM) Northing (UTM) Elevation (m) Azimuth (°) Dip (°) Depth (m)
AN-25-09 567517 5358377 219 270 -60 480
AN-25-10 567520 5357575 241 90 -60 233

Figure 02

Determine 02: Drill core from Gap AN-25-10 at 9 meters, exhibiting disseminated awaruite (nickel-iron alloy) in serpentinized peridotite (high); photomicrographs present awaruite grains as much as ~500 microns in dimension (backside).

Figure 03

Determine 03: Drill core from Gap AN-25-10 at 146 meters, exhibiting disseminated awaruite (nickel-iron alloy) in serpentinized peridotite (high); photomicrographs present awaruite grains as much as ~450 microns in dimension (backside).

Figure 04

Determine 04: Drill core from Gap AN-25-10 at 233 meters, exhibiting disseminated awaruite (nickel-iron alloy) in serpentinized peridotite (high); photomicrographs present awaruite grains as much as ~350 microns in dimension (backside).

Gap AN-25-09, positioned 800 meters north of the invention drilling on Part S1, was drilled from the identical collar location as Gap AN-25-08 however oriented in the wrong way. This gap examined westward towards Pipestone Pond on Part S3 and intersected steady mineralization over its whole 480-meter size, returning 0.09% DTR Ni from 0.95% nickel in magnetic focus from 42 to 417 meters, is larger than the 0.06% DTR Ni cutoff grade calculated on the Baptiste awaruite nickel deposit in British Columbia 1 .

The westward orientation of AN-25-09, drilled prior to sophisticated structural interpretation, was not optimally oriented to check the true width of the awaruite-bearing physique. Regardless of this, the opening offered beneficial geological info confirming the westward-dipping system, in keeping with outcomes from Gap AN-25-07, which was additionally drilled westward on Part S2. The profitable DTR outcomes from eastward-oriented holes, in contrast with the sub-optimal westward orientation of AN-25-07 and AN-25-09, verify that eastward-oriented drilling is important to check the true width of the mineralized physique and continues to ship one of the best grades on the property.

Desk 03: Pipestone XL Nickel Alloy Venture – Abstract of Assay Outcomes and DTR Metallurgical Take a look at Outcomes for Drill Gap AN-25-09 (RPM Zone)

Gap ID From (m) To (m) Interval (m) Mass Pull (%) Nickel – Magnetic Focus Grade
Ni ( %)
Nickel – Complete Grade
Ni (%)
DTR Nickel Grade – Magnetically Recovered Ni (%) Complete Nickel Restoration
(%)
Chromium – Magnetic Focus Grade
Cr (%)
Chromium Complete Grade
Cr (%)
DTR Chromium Grade – Magnetically Recovered
Cr (%)
Cobalt – Magnetic Focus Grade
Co (%)
AN-25-09 9 483 474 9.00 0.93 0.23 0.08 36.07 1.61 0.28 0.14 0.06
together with 42 417 375 9.03 0.95 0.23 0.09 37.16 1.57 0.26 0.14 0.06
together with “Up To” 12.00 1.20 0.26 0.11 45.79 3.94 1.23 0.34 0.08

Figure 05

Determine 05: Cross-sectional view of the RPM Zone drill gap AN-25-08 and AN-25-09, positioned 800 meters north of discovery gap AN-24-02, exhibiting the distribution of magnetic focus and DTR nickel values. Gap AN-25-08 averages 1.35% nickel and 1.57% chromium in steady metallurgical DTR magnetic focus, with a mean 8.79% Mass Pull and 0.12% DTR nickel over 480 meters.

Figure 06

Determine 06: Drill core from Gap AN-25-09 at 124 meters, exhibiting disseminated awaruite (nickel-iron alloy) in serpentinized peridotite (high); photomicrographs present awaruite grains as much as ~300 microns in dimension (backside).

Figure 07

Determine 07: Drill core from Gap AN-25-09 at 479 meters, exhibiting disseminated awaruite (nickel-iron alloy) in serpentinized peridotite (high); photomicrographs present awaruite grains as much as ~450 microns in dimension (backside).

AWARUITE NICKEL: HIGH RECOVERY FROM HIGH-GRADE MINERAL

Awaruite (Ni₃Fe) is a naturally occurring nickel-iron-cobalt alloy containing roughly 77% nickel 2 , or 2 to three instances the nickel content material of typical nickel sulfide minerals corresponding to pentlandite (~25% Ni) 3 . Awaruite’s excessive nickel content material and magnetic properties permits easier magnetic focus, with much less complicated flotation necessities than standard sulfide processing, and helps increased end-concentrate grades.

DTR metallurgical testing on the RPM Zone has achieved a mean nickel restoration of 68.62% throughout reported drill holes, demonstrating the effectiveness of magnetic separation for awaruite focus. The ten.48% mass pull in Gap AN-25-10 exhibits that magnetic separation can cut back the beginning rock quantity by roughly 90%, concentrating the recoverable nickel into about 10% of the unique rock mass previous to flotation. The Firm’s present metallurgical program is predicated on magnetic separation forward of flotation, leveraging awaruite’s distinctive magnetic properties to realize superior recoveries relative to bulk tonnage nickel sulfide mineralization.

Not like standard nickel sulfide minerals corresponding to pentlandite (Fe,Ni)₉S₈, which comprise sulfur, a non-metal chemical ingredient that takes-up weight and area throughout the mineral and must be eliminated by way of secondary processing corresponding to excessive temperature smelting or roasting, awaruite’s sulfur-free composition eliminates the necessity for smelting, roasting, or acid leaching. This positions the Pipestone XL Venture as a possible home supply of magnetically concentrated nickel that reduces reliance on abroad processing infrastructure.

PHASE 2X DRILLING PROGRAM UPDATE

The Part 2X drilling program continues to broaden the RPM Zone throughout the 4-kilometer strike size goal space introduced October 21, 2025 . So far, roughly 3,500 meters of drill core from the RPM Zone have returned constructive magnetically recoverable nickel outcomes. Reported holes averaging 1.29% nickel in magnetic focus with a 9.25% mass pull, end in a calculated grade of 0.12% DTR nickel. The distinctive outcomes from AN-25-10 (0.15% DTR Ni with 68.62% restoration) show rising grades with eastward growth towards Chrome Pond.

The Firm plans to announce further drilling concentrating on a number of instructions:

  • Jap Extension (Excessive Precedence): Following the distinctive outcomes from Gap AN-25-10, further drilling from optimized collars designed to penetrate deeper will goal the zone past the place the opening was halted, persevering with the eastward growth towards the historic Chrome Pond chromite prospect. The eastward pattern has persistently delivered one of the best magnetically recoverable nickel grades on the property.
  • Northern Extension: Systematic step-outs north of Part S3 will proceed to check the 4-kilometer strike size potential outlined by DTR floor sampling.
  • Southern Extension: Roughly 1 kilometer of southern extension potential has been recognized in areas now reinterpreted as ultramafic peridotites internet hosting awaruite.

CHROMIUM CO-PRODUCT AND METALLURGICAL PROGRAM

Chromium happens disseminated with the awaruite nickel alloy in all RPM Zone drill gap intervals, averaging 0.15% DTR chromium throughout reported intersections with a 9.25% common mass pull. Primarily based on constant chromium assays in each RPM Zone drill gap thus far, the Firm has expanded its metallurgical program to incorporate chromium as an space of curiosity for potential by-product restoration. Chromite has been recognized because the supply mineral for chromium, and its beneficiation potential is at the moment beneath investigation. Mineralogy evaluation supplies the muse for figuring out future restoration strategies, processing routes, and separation strategies, and can present perception into potential focus grades. The Firm anticipates updates on restoration, separation, and preliminary focus merchandise for nickel, chromium, and cobalt in early 2026.

Desk 04: RPM Zone – Full Intervals for all Drill Holes Reported to Date

Drill Gap Zone Part From meters To meters Interval meters Magnetically Recovered (DTR)
Nickel %
Magnetic Focus Nickel
Grade (Ni %)
Mass Pull (%) Remark
AN 24 – 02 RPM S1 11.0 394.1 383.1 0.13 1.37 9.50 NR – March 12, 2025
AN 24 – 03 RPM S1 18.0 234.0 216.0 0.11 1.32 9.12 NR – April 15, 2025
AN 24 – 04 RPM S1 12.0 378.0 366.0 0.14 1.46 9.53 NR- June 24, 2025
AN 24 – 05 RPM S2 6.0 357.0 351.0 0.12 1.47 8.21 NR – July 9, 2025
AN 25 – 06 RPM S2 5.65 453 447.35 0.11 1.27 9.02 NR – August 12, 2025
AN 25 – 07 RPM S2 9 495 486.0 0.09 0.97 9.60 NR – October 23, 2025
AN 25 – 08 RPM S3 11 491 480.0 0.12 1.35 8.79 NR – October 23, 2025
AN 25 – 09 RPM S3 9 483 474.0 0.08 0.93 9.0 NR – Dec 2, 2025
AN 25 – 10 RPM S1 8 236 228 0.15 1.44 10.48 NR – Dec 2, 2025
TBA

Figure 08
Determine 08: Part 2X drill plan map exhibiting expanded goal areas – RPM, RPM South, and RPM North, throughout the 30 km Pipestone XL Nickel Alloy Venture.

Figure 09

Determine 09: Part 2X drill plan map on the RPM Zone exhibiting the 800-meter drill-confirmed strike size and the open 10-kilometer strike extension to Tremendous Gulp throughout the 30-kilometer Pipestone XL nickel pattern.

AWARUITE – RARE & PURE NATURAL NICKEL-IRON-COBALT ALLOY MINERAL

The sulfur-free nature of awaruite (Ni₃Fe), a naturally occurring nickel-iron-cobalt alloy already in metallic type, eliminates the necessity for secondary processes corresponding to smelting, roasting or acid leaching which might be typical of sulfide or laterite nickel ores. Not like sulfides, which aren’t pure alloys, awaruite avoids the problem of sourcing smelter capability—a bottleneck in North America’s nickel provide chain. With a mean nickel grade of roughly 77%, awaruite considerably exceeds the ~25% nickel grade attribute of pentlandite. Awaruite’s sturdy magnetic properties allow focus by way of magnetic separation, as demonstrated by Davis Tube Restoration (DTR) testing at First Atlantic’s RPM Zone drill core.

Awaruite eliminates the electrical energy necessities, emissions, and environmental impacts related to standard smelting, roasting or acid leaching processes of frequent nickel minerals. Furthermore, awaruite’s sulfur-free composition removes the dangers of acid mine drainage (AMD) and associated allowing challenges generally posed by sulfide minerals. As famous by the US Geological Survey (USGS) in 2012: “The event of awaruite deposits in different components of Canada might assist alleviate any extended scarcity of nickel focus. Awaruite, a pure iron-nickel alloy, is way simpler to pay attention than pentlandite, the principal sulfide of nickel.”

Figure 10

Determine 10: Quote from USGS on Awaruite Deposits in Canada

DAVIS TUBE RECOVERY (DTR) METALLURGICAL TEST

Davis Tube Restoration (DTR) is a laboratory methodology that makes use of magnets to separate magnetic and non-magnetic materials from a pattern, much like business magnetic separators utilized in mining operations. The share of magnetic mass recovered (mass pull) is used along with the assayed grade of the magnetic fraction to calculate the magnetically recoverable nickel.

DTR nickel proportion is calculated by: Mass Pull (%) × Magnetic Nickel Focus Grade (%). This represents the portion of nickel that may be recovered by way of magnetic separation and isn’t equal to a regular assay consequence. DTR outcomes can range primarily based on gear settings and technological developments.

The Firm has launched a brand new academic video that breaks down the Davis Tube Restoration (DTR) check into 5 easy steps. This video is a beneficial useful resource for anybody excited about understanding mineral exploration. Please go to https://www.youtube.com/watch?v=q3zsgDtLWns to view the video.

Determine 11: Davis Tube Restoration (DTR) Metallurgical Take a look at 5 Step Course of
https://www.globenewswire.com/NewsRoom/AttachmentNg/bcae86c9-5e0e-4262-8557-bd576dede2a0

Investor Data

The Firm’s frequent shares commerce on the TSX Enterprise Trade beneath the image ” FAN “, the American OTCQB Trade beneath the image ” FANCF ” and on a number of German exchanges, together with Frankfurt and Tradegate, beneath the image ” P21 “.

Buyers can get updates about First Atlantic by signing as much as obtain information by way of e mail and SMS textual content at www.fanickel.com.

FOR MORE INFORMATION:

First Atlantic Investor Relations

Robert Guzman

Tel: +1 844 592 6337

rob@fanickel.com

Neither the TSX Enterprise Trade nor its Regulation Providers Supplier (as that time period is outlined in insurance policies of the TSX Enterprise Trade) accepts accountability for the adequacy or accuracy of this launch.

Disclosure

Adrian Smith, P.Geo., a director and the Chief Govt Officer of the Firm is a professional particular person as outlined by NI 43-101. The certified particular person is a member in good standing of the Skilled Engineers and Geoscientists Newfoundland and Labrador (PEGNL) and is a registered skilled geoscientist (P.Geo.). Mr. Smith has reviewed and authorized the technical info disclosed herein.

Analytical Technique & QA/QC

Samples have been cut up in half on web site, with one half remaining within the core field for future reference and the opposite half securely packaged for laboratory evaluation. The QA/QC protocol included the insertion of blanks, duplicates, and licensed reference materials (requirements), with one QA/QC pattern being inserted each 20 samples to observe the precision and accuracy of the laboratory outcomes. All analytical outcomes efficiently handed QA/QC screening on the laboratory, and all Firm inserted requirements and blanks returned outcomes inside acceptable limits.

Samples have been submitted to Activation Laboratories Ltd. (“Actlabs”) in Ancaster, Ontario, an ISO 17025 licensed and accredited laboratory working independently of First Atlantic. Every pattern was crushed, with a 250 g sub-sample pulverized to 95% – 200 mesh. A magnetic separate was then generated by operating the pulverized sub-sample by way of a magnetic separator which splits the sub-sample into magnetic and non-magnetic fractions. This entails operating a 30 g cut up of the pulp by way of a Davis Tube magnetic separator as a slurry utilizing a continuing circulation price, a magnetic subject power of three,500 Gauss, and a tube angle of 45 levels to supply magnetic and non-magnetic fractions.

The magnetic fractions are collected, dried, weighed and the magnetic fraction is fused with a lithium metaborate/tetraborate flux and lithium bromide releasing agent after which analyzed on a wavelength dispersive XRF for a number of components together with nickel, cobalt, iron and chromium. The magnetically recovered nickel grade was then calculated by multiplying the XRF fusion nickel worth by the burden of the magnetic fraction and dividing by the full recorded feed weight or magnetic mass pulled from the pattern.

True widths are at the moment unknown. Nevertheless the nickel bearing ultramafic ophiolite and peridotite rocks being focused and sampled within the Part 1 drilling program on the Atlantic Nickel Venture are mapped on floor and in drilling as a number of hundred meters to over 1 kilometer vast and roughly 30 kilometers lengthy.

Ahead-looking statements:

This information launch might embody “forward-looking info” beneath relevant Canadian securities laws. Such forward-looking info displays administration’s present beliefs and are primarily based on a lot of estimates and/or assumptions made by and knowledge at the moment out there to the Firm that, whereas thought-about cheap, are topic to identified and unknown dangers, uncertainties, and different elements that will trigger the precise outcomes and future occasions to vary materially from these expressed or implied by such forward-looking info.

Ahead-looking info on this information launch contains, however shouldn’t be restricted to: statements concerning: the timing, scope and outcomes of the Firm’s Part 1 and Part 2 work and drilling packages (together with follow-up drilling round Gap AN-25-10 and continued growth towards Chrome Pond); future venture developments; the Firm’s goals, objectives, and future plans; statements and estimates of market situations; the viability of magnetic separation as a low-impact processing methodology for awaruite; the strategic and financial implications of the Firm’s initiatives ; and expectations concerning future developments and strategic plans. Ahead-looking info is predicated on, amongst different issues, assumptions concerning: the continuity of mineralization and geology recommended by drilling and sampling thus far; metallurgical recoveries and magnetic separation efficiency persevering with to be in keeping with check outcomes; the supply of drill rigs, companies, personnel and provides; allowing and regulatory timelines; prevailing and future nickel, cobalt and chromium costs and demand; and the Firm’s capacity to acquire financing on cheap phrases to hold out deliberate exploration and metallurgical packages.

Readers are cautioned that such forward-looking info are neither guarantees nor ensures and are topic to identified and unknown dangers and uncertainties together with, however not restricted to, common enterprise, financial, aggressive, political and social uncertainties, unsure and risky fairness and capital markets, lack of obtainable capital, precise outcomes of exploration actions, environmental dangers, future costs of base and different metals, working dangers, accidents, labour points, delays in acquiring governmental approvals and permits, and different dangers within the mining and clear power industries. Extra elements and dangers together with varied danger elements mentioned within the Firm’s disclosure paperwork which will be discovered beneath the Firm’s profile on http://www.sedarplus.ca. Ought to a number of of those dangers or uncertainties materialize, or ought to assumptions underlying the forward-looking statements show incorrect, precise outcomes might range materially from these described herein as supposed, deliberate, anticipated, believed, estimated or anticipated.

The Firm is presently an exploration stage firm. Exploration is very speculative in nature, entails many dangers, requires substantial expenditures, and should not consequence within the discovery of mineral deposits that may be mined profitably. Moreover, the Firm at the moment has no mineral reserves on any of its properties. Because of this, there will be no assurance that such forward-looking statements will show to be correct, and precise outcomes and future occasions may differ materially from these anticipated in such statements. The Firm undertakes no obligation to replace forward-looking info, besides as required by relevant securities legal guidelines.

Neither the TSX Enterprise Trade nor its Regulation Providers Supplier (as that time period is outlined within the insurance policies of the TSX Enterprise Trade) accepts accountability for the adequacy or accuracy of this launch.

___________________

1 https://fpxnickel.com/information/fpx-nickel-delivers-pfs-for-baptiste-nickel-project-with-after-tax-npv-of-us2-01-billion-and-18-6-irr/
2 https://www.sciencedirect.com/science/article/abs/pii/S0892687522003648
3 https://fpxnickel.com/projects-overview/what-is-awaruite/

Photograph accompanying this announcement can be found at:

https://www.globenewswire.com/NewsRoom/AttachmentNg/8ed66821-c421-4180-be0b-4be846d81a0e

https://www.globenewswire.com/NewsRoom/AttachmentNg/92003ac4-70ce-4a6c-bce8-9b4c960de93a

https://www.globenewswire.com/NewsRoom/AttachmentNg/4f973b7a-c089-41ba-9ec9-b6d5354c74ea

https://www.globenewswire.com/NewsRoom/AttachmentNg/f3853087-d51c-4bde-9f08-356d1ef431af

https://www.globenewswire.com/NewsRoom/AttachmentNg/0b8c4361-bd91-4926-ae01-18bc04242ad8

https://www.globenewswire.com/NewsRoom/AttachmentNg/34836d05-57a3-42a0-93a2-960a50ac9e74

https://www.globenewswire.com/NewsRoom/AttachmentNg/c50bc760-073e-4242-be68-51a6366a1d1f

https://www.globenewswire.com/NewsRoom/AttachmentNg/eed03870-4a98-4b7c-af4d-30d7e7963c43

https://www.globenewswire.com/NewsRoom/AttachmentNg/08ff0385-ddc8-4022-9a31-6aa12f988e7c

https://www.globenewswire.com/NewsRoom/AttachmentNg/0d4db0e9-e9ea-4b90-b52d-fd2ac015ff78

https://www.globenewswire.com/NewsRoom/AttachmentNg/bcae86c9-5e0e-4262-8557-bd576dede2a0

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