First Atlantic Nickel Corp. Announces Promising Drill Results at Atlantic Nickel Project

June 24, 2025 — First Atlantic Nickel Corp. (TSXV: FAN) (OTCQB: FANCF) (FSE: P21) has reported encouraging results from its recent drilling activities at the RPM Zone within the Atlantic Nickel Project. The company announced positive Davis Tube Recovery (DTR) metallurgical test results from drill hole AN-24-04, marking the third hole completed during Phase 1 drilling.

The drill hole AN-24-04 returned 366 meters of material averaging 1.46% nickel and 1.56% chromium in magnetic concentrate. The mass pull was recorded at 9.53%, resulting in a magnetically recoverable nickel grade (DTR grade) of 0.14%. This 200-meter step-out hole, drilled east of the initial RPM discovery hole AN-24-02, indicates that the disseminated visible awaruite mineralization extends significantly further east toward Chrome Pond.

To date, the first three holes drilled along an east-west line at the RPM Zone have delineated at least 500 meters of lateral width. These holes have demonstrated remarkably consistent metallurgical results, with nickel magnetic concentrate grades of 1.37%, 1.32%, and 1.46%, and corresponding mass pulls of 9.49%, 9.12%, and 9.53%, respectively.

The company is optimistic about the potential for eastern expansion at the RPM Zone and anticipates receiving DTR metallurgical results shortly for the fourth RPM drill hole (AN-24-05) in the Phase 1 program.

Company Overview

First Atlantic Nickel Corp. is listed on the TSX Venture Exchange and trades in Canadian dollars (CAD). As of June 24, 2025, the company’s close price was 0.205 CAD, with a 52-week high of 0.385 CAD on March 12, 2025, and a 52-week low of 0.075 CAD on September 9, 2024. The market capitalization stands at 20,860,000 CAD, and the price-to-earnings ratio is currently -7.03. The company is involved in mining exploration and specializes in developing, purchasing, and exploring mineral resources.