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Fathom Nickel Inc.(CSE:FNI)(FSE: 6Q5)(OTCQB: FNICF) – Q1-2022 Drilling Update

By February 2, 2022No Comments



• The second drillhole of the Company’s Q1-2022 drill program intersected 10.2 meters of
nickel mineralization starting at 117.7m.
• Portable X-ray Fluorescence (“pXRF”) indicates the presence of nickel exceeding 30,000 ppm
and copper exceeding 40,000 ppm (10,000 ppm = 1%).
• The Company continues to define a very favourable corridor in which multiple conductors
occur over a strike length that now exceeds 130 meters.
• Chemical assays for Ni-Cu-Co + PGE’s are expected in 4 – 6 weeks.

Calgary, Alberta – February 2, 2022 – Fathom Nickel Inc. (the “Company” or “Fathom”) (CSE:FNI) (FSE:
6Q5), (OTCQB: FNICF) is pleased to announce significant nickel mineralization has been intersected in the
second drillhole of the Q1-2022 (drillhole AL22040) at the Island Showing Area, situated 500 meters north
of the very high-grade Ni-Cu-Co + PGE historic Rottenstone deposit. A detailed characterization of
mineralization and sulphide textures using pXRF data does indicate the presence of nickel and copper
mineralization through 10.2 m drillhole interval (from 117.7m to 127.9m downhole). The reader is
cautioned the pXRF values reported above are qualitative and do not reflect the actual bulk content of
nickel and copper contained within this interval.

Drill Hole AL22040 targeted a set of modelled conductors occurring above and along strike and to the
north towards drillhole AL210211. Drilling and follow-up Borehole Electromagnetic (“BHEM”) surveys to
date in Q1-2022, in conjunction with drilling performed in 2021 in the Island Showing Area, is defining a
very favourable corridor in which multiple conductors occur over a strike length that now exceeds 130
meters. Within this developing corridor the Company is recognizing the occurrence of mineralized
ultramafic and pegmatite rocks within the host metapelites. This stratigraphy is what the Company refers
to as Rottenstone-like stratigraphy. We are encountering sulphide textures in ultramafic rocks that are
analogous to magmatic nickel models and we are also encountering nickel mineralization outside of the
ultramafic rocks – a situation we believe is a first at Albert Lake and a breakthrough that we find very

Ian Fraser, VP Exploration stated, “This is exactly what we have been looking for. Drillhole AL22040
confirms a proof of concept that Rottenstone-like mineralization does occur at the Albert Lake Property
outside of the confines of the historic Rottenstone mine. Although early in the Q1-2022 program and
recognizing that we have a tremendous amount of work to do, we couldn’t be off to a better start. We
are also extremely pleased that the BHEM conductor that drillhole AL22040 targeted has resulted in
ultramafic rock containing significant sulphide mineralization. The immediate follow-up of current
drillholes and the probing of historic drillholes with BHEM is proving to be an extremely important and
valuable tool in our exploration tool- box. We are excited about the continuation of drilling at the Island

Q1-2022 Drill Program
The Q1-2022 winter drill program consisting of 5,000-meters planned, commenced January 14, 2022. This
program was recently expanded from the originally planned 3,000 meters. Diamond drilling will continue
to focus on the Island Showing Area before moving to the next priority targets at the Dime area.
Additional drill targets are expected to be refined as the geological team completes and further processes
all available geochemical, and geophysical data.
Brad Van Den Bussche, President and CEO, commented: “We are very pleased with the intersection of
semi-massive sulphides containing significant mineralization and demonstrating Rottenstone-like
stratigraphy in the second hole of the Q1-2022 drill program. With the pXRF results confirming the
presence of nickel and copper at the Island Showing Area, we eagerly look forward to assay results which
will also test for the presence of PGE group elements (a significant component of the historic Rottenstone
deposit), which are not detectable via the pXRF. We look forward to continuing the ongoing 5,000 -meter
Q1-2022 drill campaign to explore for additional mineralized zones on the 90,000+ hectare Albert Lake

Quality Assurance / Quality Control (QA/QC) Disclosure Statement
Fathom, as part of its ongoing exploration activities, is utilizing a portable Vanta™ XRF Analyzer (“pXRF”)
to provide real-time lithogeochemical multi-element data on drill cores from current drillholes and on all
historical drill cores drilled by previous operators of the Albert Lake Property. The Vanta™ XRF Analyzer is
a hand-held device that, during normal operation and Company protocol, is positioned on drill core every
0.5 meter through the length of a drillhole. The tool is held in position for a total 120 seconds – beam 1
(30 seconds), beam 2 (60 seconds) and beam 3 (30 seconds) to allow for an effective reading of key
pathfinder elements, including chrome and magnesium, occurring at that specific point and that specific
surface of the drill core. All elements detected at that specific point are recorded. The reader is cautioned
that pXRF data should be treated only as an indication of elements, including nickel and copper, that are
present at the particular location in which the pXRF is placed on a drill core. All pXRF data is point data
and the data collected at that point may not be representative of all the pXRF detectable elements
occurring over an extended interval. pXRF nickel and copper values from drillhole AL22040 were derived
from a specific exercise in which the Project Manager/Geologist performed a visual interpretation of
sulphide mineralization, noting sulphide textures and amount of sulphide present. Twenty pXRF data
points where sulphide mineralization was present were scanned, recorded and photographed within a
mineralized ultramafic section spanning 118.4 – 126.36m (7.96m). The reader is again cautioned that the
nickel and copper values reported are an indication of nickel and copper mineralization occurring
associated with the sulphide mineralization. The Company has no intention of using pXRF data for the
purpose of weighted average calculations but does compare and evaluate pXRF point data with results of
chemical analyses once received. The Company relies on chemical assays from an independent certified
laboratory (ALS Canada Ltd; North Vancouver) to determine the “true” values of nickel and copper
occurring in sampled drill core, as well as all other elements the Company is interested in at the Albert
Lake Property. The Company expects these assays to be available in 4 – 6 weeks, and available to the
public once results are received and evaluated. If there is significant discrepancy between values reported
with “true” chemical analyses, the Company will report these discrepancies.

As with drill core sampling a rigid QA/QC process is in place for the collection and analysing of pXRF data.
Internal QA/QC protocols were also implemented to ensure that real-time pXRF geochemical data
collected on site was of high quality and reliable. Spot scans of SiO2 blank and certified reference material
were conducted every 25 scans, alternating the blank and standards every 50th scan. Certified reference
4 material (CRM) was consistent with CRMs submitted to the analytical lab for assay, and included the
following: DIABASE-ROCK-TDB-1, CDN-ME-1207, CDN-ME-1309, CDN-ME-1310, CDN-ME-9, OREAS-24C,
and OREAS-73B. pXRF data collected on QA/QC material was periodically plotted in graphical form to
check for data entry errors and instrument drift.

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

About Fathom Nickel Inc.
Fathom is a resource exploration and development company that is targeting high-grade nickel sulphide
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.

“Brad Van Den Bussche”
President and CEO, Director
For Further Information Please Contact:
Brad Van Den Bussche, President and CEO
Manish Grigo, Director of Corporate Development

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