Fathom Announces Completion of Final Requirements Under Gochager Lake Earn-in Agreement

Calgary, Alberta--(Newsfile Corp. - October 7, 2025) - Fathom Nickel Inc. (CSE: FNI) (FSE: 6Q5) (OTCQB: FNICF) (the "Company" or "Fathom") is pleased to announce the completion of the final cash payment and share issuance under the Gochager Lake Earn-In Agreement (the "Agreement"). Fathom has now completed all requirements under the Agreement and now holds a 100% interest in the Gochager Lake Property (the "Property"), subject to a 2% NSR royalty.

Ian Fraser, CEO & Vice-President, Exploration commented, "We are very pleased to have completed all requirements under the Agreement to earn a 100% interest in the Property. We have made tremendous advances at Gochager Lake since we entered into the Agreement in September 2022: we have expanded the Gochager Lake property footprint from the original 4,696 hectares (covered under the Agreement) to now more than 34,000 hectares; through a consistent, science-based methodology, we developed a geological model that continues to support comparisons to certain world-class magmatic nickel sulphide projects; we have expanded the original Gochager Lake deposit to a mineralized corridor that now extends over 1.4 km and is open along strike in both directions; and we have developed a plethora of high priority drill targets as we continue our goal of building a district- scale nickel camp in north-central Saskatchewan."

About the Agreement

Under the terms of the Agreement, in order to earn a 100% interest in the Property, over the course of a four-year period the Company was required to:

• Issue an aggregate of 920,000 common shares of the Company;
• Pay an aggregate of $92,000 in cash to the Property vendor;
• Incur an aggregate of $2,000,000 in exploration expenditures.

As a result of Fathom's exploration success at the Property, the vendor requested a change in the consideration to increase the number of shares and reduce the aggregate cash payments. As a result, the aggregate cash payments were decreased by $12,500 to $79,500, and the aggregate number of shares were increased by 290,000 to 1,210,000. Additionally, as a result of our ongoing exploration success, Fathom incurred the required exploration expenditures by the end of 2024, thus triggering the acceleration of the earn-in period from four years to three.