Mr. Ian Fraser reports

FATHOM ANNOUNCES COMPLETION OF THE PHASE 2 DRILL PROGRAM AT THE GOCHAGER LAKE PROJECT

Fathom Nickel Inc. has successfully completed the phase 2 2026 drill program at the company's 100-per-cent-owned Gochager Lake project located in Northern Saskatchewan.

The phase 2 program consisted of nine drill holes totaling 3,174.5 metres. The program was a follow-up to the phase 1 drill program completed in March, 2026 (seven drill holes, 2,144 metres), and was designed to further test both the Gochager Lake deposit mineralization along strike to the southwest and to depth, as well as newly defined targets stemming from phase 1 of the program.

Phase 2 drilling highlights include:

• Nine drill holes amounting to 3,174.5 metres;
• 800 metres of strike length across the Gochager Lake deposit mineralization footprint;
• Successful follow-up of multiple off-hole geophysical anomalies;
• Two new zones of mineralization intersected southwest and northeast of the historic Gochager Lake deposit.

Drill core processing and final delivery of samples to laboratory on July 10, 2026.

Ian Fraser, Fathom chief executive officer and vice-president, exploration, stated: "We are very pleased to announce the completion of phase 2 of our 2026 drill program. The drill program was successful in identifying new zones of nickel-copper-cobalt mineralization across the 800 metres of strike length tested. We are also very pleased that, due to recently implemented cost-saving initiatives, we were able to drill approximately 1,000 additional metres as compared to the initial budget. We look forward to reporting assays results once received and interpreted -- expected by mid-August."

About Fathom Nickel Inc.

Fathom is an exploration company that is targeting magmatic nickel sulphide discoveries to secure the supply of North American critical minerals and to support the global green energy transition. The company now has a portfolio of three high-quality exploration projects located in the prolific Trans Hudson corridor in Saskatchewan, Canada:

1. The Albert Lake project, a 90,000-plus-hectare project that hosts the historic Rottenstone mine;
2. The 33,000-plus-hectare Gochager Lake project that hosts the historic Gochager Lake deposit;
3. The 10,000-plus-hectare Friesen Lake project located 40 kilometres southwest of the historic Rottenstone mine and 30 km northwest of the historic Gochager Lake deposit.

We seek Safe Harbor.