First Atlantic Nickel & Cobalt Drills First Discovery Hole at Alloy Max South Zone with Drill Hole XL-26-18: Best Near-Surface Visible Awaruite to Date at Alloy Max, Ending in Open Mineralization; XL-26-17 Extends Alloy Max North; Drilling Now Spans 2.4 km of Strike and 1 km of Width at Alloy Max

GRAND FALLS-WINDSOR, Newfoundland and Labrador, Oct. 13, 2026 (GLOBE NEWSWIRE) — First Atlantic Nickel & Cobalt Corp. (TSXV: FAN) (OTCQB: FANCF) (FSE: P210) (“First Atlantic” or the “Company”) is pleased to announce the discovery of the Alloy Max South Zone at the Company’s wholly owned Pipestone XL Nickel-Cobalt (Ni-Fe-Co) Alloy Project in central Newfoundland. Discovery hole XL-26-18, the first hole drilled in the Alloy Max South Zone, was collared approximately 2.4 kilometres southwest along strike from drill hole XL-26-17 in the Alloy Max North Zone and intersected abundant, large-grain, visibly disseminated awaruite within approximately 35 metres of surface, with grains measuring up to 348 microns at 32 metres downhole. Company geologists consider XL-26-18 to contain the best near-surface visible awaruite observed in drill core to date at Alloy Max. Drilled to the east at a dip of -60 degrees, XL-26-18 ended in visible awaruite at approximately 40 metres, where the current drill lacked the power to advance through faulted ground, leaving the mineralization at Alloy Max South open at depth.

Drill hole XL-26-17, a significant step-out to the north and east and the furthest hole north along strike at Alloy Max North, expands the known area of visible awaruite at Alloy Max. Awaruite grain size in XL-26-17 increases downhole, with grains measuring up to 549 microns at 351 metres, the largest awaruite grain measured to date at Alloy Max. Drill holes at Alloy Max now span approximately 2.4 kilometres along strike, from XL-26-17 in the north to XL-26-18 in the south, and over 1 kilometre of width between the Alloy Max discovery hole, XL-26-15, and XL-26-17, exceeding the more than 800 metres of width drilled to date at the Company’s RPM Zone¹. The Alloy Max target area measures approximately 4 kilometres of strike and up to approximately 1.5 kilometres in width², and drilling to date already covers a larger footprint than the drilled area of the RPM Zone.

Follow-up hole XL-26-19 has been designed to test below and beyond the point where XL-26-18 ended, from a new collar location, with additional holes around XL-26-18. XL-26-18 is the second hole at Pipestone XL to end in mineralization in heavily broken, faulted rock that the current drill could not advance through, following AN-25-10 at the RPM Zone. With the exploration access road significantly upgraded over the summer and approximately $13.4 million raised in no-warrant financings since September 2026, the Company is assessing a larger, more powerful drill for Pipestone XL, capable of advancing through faulted ground and drilling deeper, together with expanded exploration across multiple zones.

First Atlantic welcomes direct calls from shareholders and prospective investors. Rob Guzman, Investor Relations, is available at +1-844-592-6337 to answer questions about this news release or the Company, or by email at rob@fanickel.com.

KEY HIGHLIGHTS

1. New Discovery at Alloy Max South: XL-26-18, the Alloy Max South discovery hole and the first hole drilled in the Alloy Max South Zone, was collared approximately 2.4 kilometres southwest along strike from XL-26-17 and intersected abundant, large-grain, visibly disseminated awaruite from near surface, with grains measuring up to 331 microns at 15 metres, up to 273 microns at 27 metres and up to 348 microns at 32 metres downhole.

2. Best Near-Surface Visible Awaruite to Date at Alloy Max: Company geologists consider XL-26-18 to contain the best visible awaruite observed above 100 metres downhole at Alloy Max. This assessment is based on the abundance of awaruite and the frequency of large grains within approximately 35 metres of surface, with grains measuring up to 348 microns at 32 metres downhole.

3. Alloy Max Open at Depth: Drilled to the east at a dip of -60 degrees, XL-26-18 ended in visible awaruite at approximately 40 metres, where the current drill lacked the power to advance through faulted ground. The mineralization remains open at depth. Follow-up hole XL-26-19 has been designed to test below and beyond the point where XL-26-18 ended, from a new collar location.

4. XL-26-17 Extends Alloy Max North, Largest Grain at Alloy Max: XL-26-17, the furthest hole north along strike at Alloy Max North and a significant step-out to the north and east, intersected visibly disseminated awaruite with grain size increasing downhole to grains measuring up to 549 microns at 351 metres, the largest awaruite grain measured to date at the Alloy Max Zone.

5. Alloy Max Zone Drilled Over 2.4 Kilometres of Strike Length and Over 1 Kilometre of Width: Drill holes at Alloy Max now span approximately 2.4 kilometres of strike length, from XL-26-17 at Alloy Max North to XL-26-18 at Alloy Max South, and over 1 kilometre of width between XL-26-15 and XL-26-17, compared with the more than 1.2 kilometres of strike length and more than 800 metres of width drilled to date at the RPM Zone³.

6. $13.4 Million in Financings Supports Expanded Drilling and Road Work: The Company has raised approximately $13.4 million in no-warrant, non-brokered financings since September 2026⁴. The Company intends to use the proceeds to increase drilling at multiple zones across the property, drill deeper, including by assessing a larger, more powerful drill, and to continue extending the exploration access road farther north beyond Alloy Max.

DISCOVERY HOLE XL-26-18: NEW ALLOY MAX SOUTH ZONE WITH NEAR-SURFACE VISIBLE AWARUITE 2.4 KILOMETRES ALONG STRIKE FROM XL-26-17

XL-26-18 is the Alloy Max South discovery hole, the first hole drilled in the Alloy Max South Zone. It was collared approximately 2.4 kilometres southwest along strike from XL-26-17 in the Alloy Max North Zone and drilled to the east at a dip of -60 degrees, across the west-dipping mineralization. From near-surface, the hole intersected abundant, large-grain, visibly disseminated awaruite. Awaruite grain sizes were measured from photomicrographs of the core at three depths: grains up to 331 microns at 15 metres, up to 273 microns at 27 metres and up to 348 microns at 32 metres downhole.

Company geologists consider XL-26-18 to contain the best near-surface visible awaruite observed in drill core to date at Alloy Max, based on the abundance of awaruite and the frequency of large grains within approximately 35 metres of surface. At Alloy Max, awaruite of this abundance and grain size had previously been observed only below approximately 100 metres downhole.

XL-26-18 ended in visible awaruite at approximately 40 metres in heavily broken and faulted rock, in an area mapped as the convergence of multiple faults, where the current drill lacked the power to advance further. The mineralization at Alloy Max South remains open at depth.

AN-25-10 at the RPM Zone provides a precedent for a hole that ended in mineralization in heavily broken and faulted rock, where the drill could not advance further. The broken rock caused a complete loss of water circulation and excessive torque on the drill rods⁵. AN-25-10 went on to return the best DTR nickel grade at the RPM Zone: 0.15% DTR Ni over 228 metres (8 to 236 metres).

Follow-up hole XL-26-19 has been designed to test below and beyond the point where XL-26-18 ended from a new collar location. This mirrors the Company’s approach at the RPM Zone, where it added holes designed to test below and beyond the point where AN-25-10 stopped⁶. AN-25-11 was collared approximately 250 metres east of AN-25-10 and drilled toward AN-25-10 on Section S1, returning 0.13% DTR Ni over 402 metres and expanding the lateral width of the RPM Zone to over 800 metres⁷. The location of XL-26-19 is shown in Figure 1, and additional holes are planned around XL-26-18 to follow up the new Alloy Max South Zone.

Figure 1: Map of the Alloy Max North and Alloy Max South Zones, the 2026 drill holes XL-26-15, XL-26-16, XL-26-17 and XL-26-18, and the follow-up hole XL-26-19, the exploration access road, and the approximately 2.4-kilometre span along strike between XL-26-17 and XL-26-18, with the RPM Zone to the south and Super Gulp to the north.

Figure 2: Visible awaruite grains measuring up to 331 microns in drill core from discovery hole XL-26-18 at 15 metres downhole, Alloy Max South, Pipestone XL Project.

Figure 3: Visible awaruite grains measuring up to 273 microns in drill core from discovery hole XL-26-18 at 27 metres downhole, Alloy Max South, Pipestone XL Project.

Figure 4: Visible awaruite grains measuring up to 348 microns in drill core from discovery hole XL-26-18 at 32 metres downhole, the largest grains measured in the near-surface interval, Alloy Max South, Pipestone XL Project.

XL-26-17: EASTERN EXTENSION OF ALLOY MAX NORTH

XL-26-17 was drilled along the drill trail northeast of the Alloy Max discovery hole, XL-26-15, to define the eastern side of the Alloy Max North Zone. The hole, drilled to the east at a dip of -60 degrees, intersected visibly disseminated awaruite with grain size increasing downhole, from grains measuring up to 129 microns at 186 metres to grains measuring up to 549 microns at 351 metres.

XL-26-17 is the furthest hole north along strike at Alloy Max North and a significant step-out to the north and east of XL-26-15 and XL-26-16, expanding the known area of visible awaruite at Alloy Max. The increase in grain size with depth follows the same trend reported in XL-26-16, where awaruite abundance and grain size improved downhole through the deepest core intervals⁸. The grain measuring 549 microns at 351 metres is the largest awaruite grain measured to date at the Alloy Max Zone, exceeding the grains of up to 544 microns reported from XL-26-16 at 214 metres⁹ and up to 382 microns from the Alloy Max discovery hole, XL-26-15, at 340 metres¹⁰.

With XL-26-17, drilling at Alloy Max North now spans over 1 kilometre of width, measured from XL-26-15 to XL-26-17, compared with the more than 800 metres of width drilled at the RPM Zone¹¹. Together with XL-26-18 at Alloy Max South, drill holes at Alloy Max now span approximately 2.4 kilometres along strike, compared with the more than 1.2 kilometres of strike drilled at the RPM Zone¹², within an Alloy Max target that measures approximately 4 kilometres of strike and up to approximately 1.5 kilometres in width¹³.

Figure 5: Visible awaruite grains measuring up to 129 microns in drill core from hole XL-26-17 at 186 metres downhole, Alloy Max North, Pipestone XL Project.

Figure 6: Visible awaruite grains measuring up to 549 microns in drill core from hole XL-26-17 at 351 metres downhole, the largest awaruite grain measured to date at the Alloy Max Zone, Alloy Max North, Pipestone XL Project.

EXPLORATION ACCESS ROAD ENHANCEMENT AND LARGER DRILL UNDER ASSESSMENT FOLLOWING $13.4 MILLION IN FINANCINGS SINCE SEPTEMBER 2026

The condition of the exploration access road has previously slowed and limited drilling at Pipestone XL. Initially built as a basic exploration trail, the road deteriorated in wet weather, slowing or limiting the movement of drill rigs, equipment and crews to and from the drill areas. Significant upgrades to the road were completed throughout the summer, improving access, allowing drilling to continue without further delays at the RPM and Alloy Max Zones, and making it possible to bring a larger, heavier drill to the project.

With approximately $13.4 million raised since September 2026¹⁴, the Company is now assessing that larger, more powerful drill. On several occasions the current drill has been unable to advance through heavily broken, faulted rock while still in mineralization. A larger drill is expected to advance through these fault structures, drill deeper to test the mineralization at depth, and support drilling related to the proposed Engineered Mineral Hydrogen (EMH) joint venture with VEMA Hydrogen at Pipestone XL¹⁵.

PIPESTONE XL: A DISTRICT-SCALE NICKEL-COBALT ALLOY PROJECT

Pipestone XL is First Atlantic’s wholly owned, district-scale project spanning the entire 30-kilometre Pipestone Ophiolite Complex in central Newfoundland, a belt of ultramafic rock enriched in nickel, cobalt, and chromium. The Project hosts multiple zones of awaruite (Ni₃Fe) mineralization, including RPM, Alloy Max, Super Gulp, Atlantic Lake, and Chrome Pond. The RPM Zone is the most advanced, with drilling having outlined magnetically recoverable awaruite over more than 1.2 kilometres of strike and more than 800 metres of width. Drilling is ongoing at Alloy Max, a second large-scale zone spanning approximately 4 kilometres of strike and up to 1.5 kilometres in width, making it larger than the RPM Zone.

Awaruite at Pipestone XL is the product of serpentinization, which drove sulphur out of the system and left a sulphur-free alloy which carries no acid mine drainage risk and can be concentrated by the Company’s ONSHORE MAX™ process without smelting, roasting, or high-pressure acid leaching. This smelter-free pathway addresses the midstream bottleneck in North America, where the United States has no operating nickel smelters and only two remain in Canada, and supports a vertically integrated supply chain moving directly from mine to downstream battery refining, stainless steel and specialty alloy production. The Company is also evaluating secondary chromium mineralization as a potential co-product, along with low-carbon Engineered Mineral Hydrogen (EMH) in partnership with VEMA Hydrogen¹⁶. Investors can learn more about VEMA’s Engineered Mineral Hydrogen at https://www.vema.earth.

Figure 7: Map showing multiple target zones across the 30-kilometer nickel trend over total magnetic intensity (TMI) at the Pipestone XL Project highlighting the showing, the 30-kilometre Pipestone Ophiolite Complex and the RPM, Alloy Max, Super Gulp, Atlantic Lake and Chrome Pond Zones.

Pipestone XL is located in an established infrastructure corridor with year-round road access, nearby high-voltage transmission and clean hydroelectric power from the Bay d’Espoir generating station. It is also located approximately 200 kilometres from Gander International Airport and Vale’s Long Harbour nickel processing plant. This positioning aligns with growing U.S. and allied policy focus on critical mineral supply chains, including nickel’s addition to the U.S. critical minerals list in 2022, the January 2026 White House proclamation on processed critical minerals¹⁷, the Company’s acceptance into the U.S. Defense Industrial Base Consortium¹⁸, and the June 2026 G7 Leaders’ Declaration naming nickel one of two pilot critical minerals for allied investment and offtake¹⁹.

Newfoundland and Labrador is consistently recognized as one of the world’s leading mining jurisdictions in the Fraser Institute’s Annual Survey of Mining Companies, ranking 7th globally on the Policy Perception Index in the most recent survey, published in February 2026, and placing in the global top 10 for overall investment attractiveness in each of the three prior surveys. Pipestone XL is positioned to become a secure and reliable North American source of nickel and cobalt for the stainless steel, electric vehicle, aerospace, and defense industries.

AWARUITE AT PIPESTONE XL: A SMELTER-FREE NICKEL-COBALT ALLOY (Ni₃Fe)

Awaruite is a naturally occurring, magnetic, sulphur-free nickel-iron-cobalt alloy (Ni₃Fe) containing approximately 77% nickel. Because it already exists in a metallic state, awaruite can be concentrated without smelting, roasting, or high-pressure acid leaching. Mineralogical and electron microprobe analysis at the Company’s RPM Zone has confirmed the awaruite averages 77.62% nickel and 1.69% cobalt, with grades as high as 86.68% nickel and 6.05% cobalt²⁰.

Figure 8: USGS quote on awaruite nickel-iron-cobalt alloy.²¹

Initial metallurgical test work using the Company’s ONSHORE MAX™ (Magnetic Alloy eXtraction) process upgraded rock samples from the project’s RPM Zone into a high-grade alloy concentrate averaging 67.4% nickel and grading up to 71.9% nickel and 1.76% cobalt²². Low-intensity magnetic separation first produced a magnetic concentrate grading approximately 1.6% nickel, which flotation then upgraded to the final concentrate. By comparison, a typical nickel concentrate grades 10% to 15% nickel, according to the Nickel Institute. This concentrate can move directly to downstream battery chemical refining or the manufacture of specialty alloys and stainless steel.

The absence of sulphur reduces acid mine drainage risk and related permitting challenges, positioning Pipestone XL to supply North American industries including stainless steel, electric vehicles, aerospace, and defence.

INVESTOR INFORMATION

The Company’s common shares trade on the TSX Venture Exchange under the symbol “FAN”, on the OTCQB under the symbol “FANCF”, and on several German exchanges, including Frankfurt and Tradegate, under the symbol “P210”. Investors can get updates about First Atlantic by signing up to receive news via email and SMS text at www.fanickel.com.

FOR MORE INFORMATION

First Atlantic Investor Relations, Robert Guzman. Tel: +1-844-592-6337 | Email: rob@fanickel.com

QUALIFIED PERSON

Adrian Smith, P.Geo., a director and the Chief Executive Officer of the Company, is a qualified person as defined by NI 43-101. The qualified person is a member in good standing of the Professional Engineers and Geoscientists Newfoundland and Labrador (PEGNL) and is a registered professional geoscientist (P.Geo.). Mr. Smith has reviewed and approved the technical information disclosed herein.

ABOUT FIRST ATLANTIC NICKEL & COBALT CORP.

First Atlantic Nickel & Cobalt Corp. (TSXV: FAN | OTCQB: FANCF | FSE: P210) is a critical mineral exploration company in Newfoundland and Labrador developing the Pipestone XL Nickel-Cobalt (Ni-Fe-Co) Alloy Project. The project spans the entire 30-kilometre Pipestone Ophiolite Complex, where multiple zones, including RPM, Alloy Max, Super Gulp, Atlantic Lake and Chrome Pond, contain awaruite (Ni₃Fe), a naturally occurring magnetic nickel-iron-cobalt alloy of approximately 77% nickel with no sulphur and no sulphides, along with secondary chromium mineralization. Awaruite’s sulphur-free composition removes acid mine drainage risk, while its magnetic properties enable processing through magnetic separation and flotation, eliminating the electricity requirements, emissions and environmental impacts of conventional smelting, roasting or high-pressure acid leaching, while reducing dependence on overseas nickel processing infrastructure.

The U.S. Geological Survey recognized awaruite’s strategic importance in its 2012 Annual Report on Nickel²³, noting that these deposits may help alleviate prolonged nickel concentrate shortages since the natural alloy is much easier to concentrate than typical nickel sulphide. In 2026, initial metallurgical test work using the Company’s ONSHORE MAX™ (Magnetic Alloy eXtraction) process upgraded RPM Zone material into a high-grade alloy concentrate averaging 67.4% nickel and grading up to 71.9% nickel and 1.76% cobalt, demonstrating a smelter-free, mine-to-refinery pathway. First Atlantic is a member of the U.S. Defense Industrial Base Consortium. The Company is also advancing a parallel geologic hydrogen initiative at Pipestone XL, where the same serpentinization process that formed awaruite also generates natural hydrogen, and has signed a letter of intent with VEMA Hydrogen to jointly develop low-carbon Engineered Mineral Hydrogen (EMH) through a proposed 50/50 joint venture. The Pipestone XL project is located near existing infrastructure with year-round road access and proximity to hydroelectric power, providing favorable logistics for exploration and future development and strengthening First Atlantic’s role to establish a secure and reliable source of North American nickel and cobalt production for the stainless steel, electric vehicle, aerospace, and defense industries. This mission gained importance when the U.S. added nickel to its critical minerals list in 2022, recognizing it as a non-fuel mineral essential to economic and national security with a supply chain vulnerable to disruption.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Statements

This news release contains certain forward-looking information and forward-looking statements within the meaning of applicable securities laws. Forward-looking statements are frequently identified by words such as “expects”, “intends”, “plans”, “anticipates”, “believes”, “may”, “will”, “would”, “could”, “potential”, “proposed”, “target”, “prospective”, “indicates”, “designed to”, “expected to” and similar expressions, as well as statements that events, conditions or results “will”, “may”, “could”, “would” or “should” occur or be achieved.

Forward-looking information in this news release includes, but is not limited to, statements regarding the Company’s exploration plans, anticipated results, expectations and objectives at the Pipestone XL Nickel-Cobalt Alloy Project; the interpretation of visual mineralization and the potential implications of the awaruite abundance and grain size observed in drill core, including comparisons between drill holes, between near-surface and deeper intervals, and between zones; the characterization of XL-26-18 as a discovery hole, of Alloy Max South as a newly discovered zone and of the near-surface mineralization in XL-26-18 as the best observed to date at Alloy Max; the expectation that mineralization continues at depth below XL-26-18 and beyond the drilled extent of XL-26-17; the potential scale, continuity, geometry, width, strike length, depth extent and expansion potential of the Alloy Max Zone, including the Alloy Max North and Alloy Max South Zones, and comparisons between the drilled extent of the Alloy Max Zone and the RPM Zone; the interpretation that mineralization at the RPM Zone, Alloy Max North and Alloy Max South dips to the west and the orientation of future drill holes; the design, location, timing and results of follow-up hole XL-26-19 and other holes planned around XL-26-18; the Company’s assessment of options to bring a larger, more powerful drill to the project; expanded exploration across multiple zones under assessment and the expansion of the Company’s camp; the intended use of the proceeds of the Company’s recent financings; the planned extension of the exploration access road north toward Super Gulp and the Atlantic Lake Zone, its eventual connection to Grand Falls-Windsor and the Trans-Canada Highway, and the efficiencies expected from it; the results of bedrock stripping and sampling along the route of the exploration access road; the potential of the Super Gulp Zone if drilled to the east; the potential for the Pipestone XL Project to host multiple deposits or support a future nickel-cobalt mining district; the potential capabilities and benefits of the ONSHORE MAX™ process and of onshore processing; the geological interpretation of the Pipestone Ophiolite Complex, including the role of serpentinization, regional structures, faulting, fluids, hydrogen generation and awaruite formation; the Company’s plans to evaluate geologic hydrogen potential; and the proposed joint venture with VEMA Hydrogen and the potential development of low-carbon EMH.

Forward-looking information is based on a number of assumptions that management considers reasonable as of the date of this news release, including assumptions regarding the accuracy of visual observations, photomicrograph grain-size measurements, geological logging and mapping, geophysical interpretations, DTR sampling and other exploration data; the continuity and geometry of mineralization, including its westward dip; the Company’s ability to complete planned drilling, sampling, assaying, metallurgical, hydrogen and other technical work; the ability of a larger drill, or other methods, to advance drill holes through faulted ground; the availability of a suitable drill, equipment, personnel and contractors on acceptable terms; the ability to extend and maintain the exploration access road along the planned route within anticipated budgets and schedules; the availability of financing, permits and access; the continued validity of the Company’s geological model; that metallurgical results from the RPM Zone are indicative of mineralization elsewhere at Pipestone XL; the Company’s ability to expand its camp; the use of the proceeds of the Company’s recent financings as intended; and general business, market, commodity price and regulatory conditions.

Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to differ materially from those expressed or implied by such forward-looking information. These risks and uncertainties include, but are not limited to, risks associated with early-stage mineral exploration; the risk that visual observations of mineralization, including awaruite abundance and grain size, may not correlate with assay results, DTR results, recoverability, grade, tonnage or economic viability; the risk that a hole that ended at approximately 40 metres does not establish the continuity, width or depth extent of mineralization at Alloy Max South, and that follow-up drilling, including XL-26-19, may not confirm the extension of mineralization at depth or along strike; the risk that the ground between drill holes may not be mineralized and that true widths may differ from drilled widths; the risk that faulted or broken ground may continue to prevent holes from reaching their planned depths or increase the cost and time required to drill them; the risk that a larger drill may not be available on acceptable terms or within anticipated timelines; the risk that the geological and structural interpretations, including the westward dip of mineralization, may not be confirmed by further drilling; the risk that comparisons between the Alloy Max Zone and the RPM Zone may not be meaningful, as they are based on visual observations at Alloy Max, assay and DTR results at the RPM Zone and differing drill densities; the risk that AN-25-10 may not be a reliable precedent for results at XL-26-18 or XL-26-19; the risk that metallurgical results from the RPM Zone may not be representative of mineralization at Alloy Max or elsewhere on the project; the risk that the exploration access road may not deliver the expected logistical efficiencies; permitting, access, cost, weather or construction delays affecting the exploration access road, camp expansion and any expanded exploration; uncertainty regarding metallurgical recoverability and processing characteristics; uncertainty regarding the potential generation, recovery, storage, commerciality or development of geologic hydrogen; risks relating to the negotiation and completion of definitive agreements with VEMA Hydrogen; environmental, title, regulatory and community-related risks; the availability of capital and financing on acceptable terms; changes in commodity prices, market conditions and investor sentiment; operational, equipment, contractor and laboratory risks; seasonal access limitations; and the other risks described in the Company’s continuous disclosure filings available on SEDAR+ at www.sedarplus.ca.

The Company is an exploration-stage issuer and has not established mineral resources or mineral reserves at the Pipestone XL Nickel-Cobalt Alloy Project. There can be no assurance that further exploration or technical work will result in the delineation of mineral resources or mineral reserves, or that the project will be advanced to production. Readers should not place undue reliance on forward-looking information. The forward-looking information contained in this news release is made as of the date of this news release, and the Company undertakes no obligation to update or revise such information except as required by applicable securities laws.

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¹ https://fanickel.com/20260127-first-atlantic-nickel-increases-rpm-zone-strike-length-50-to-over-1-2-km-and-width-to-over-800-m-from-phase-2x-drilling-at-pipestone-xl-magnetic-nickel-cobalt-alloy-project
² https://fanickel.com/20260716-first-atlantic-nickel-cobalt-expands-alloy-max-zone-445-meters-south-of-the-discovery-hole-xl-26-16-the-deepest-hole-to-date-at-pipestone-xl-intersects-large-grain-visible-awaruite-ni-fe-co-alloy-over-its-entire-525-meter-length-ending-in-open-mi
³ https://fanickel.com/20260127-first-atlantic-nickel-increases-rpm-zone-strike-length-50-to-over-1-2-km-and-width-to-over-800-m-from-phase-2x-drilling-at-pipestone-xl-magnetic-nickel-cobalt-alloy-project
⁴ https://fanickel.com/20261006-first-atlantic-nickel-cobalt-raises-total-of-13-4-million-with-additional-3-49-million-no-warrant-non-brokered-private-placement-at-0-83-per-share-a-premium-to-market-to-accelerate-exploration-at-pipestone-xl-nickel-cobalt-alloy-project
⁵ https://fanickel.com/20251202-first-atlantic-nickel-reports-highest-awaruite-nickel-iron-cobalt-alloy-dtr-grades-and-recovery-to-date-from-expansion-drilling-at-pipestone-xl-nickel-alloy-project
⁶ https://fanickel.com/20251204-first-atlantic-nickel-expands-phase-2x-drilling-at-pipestone-xl-nickel-alloy-project-four-additional-holes-targeting-1-4-kilometer-strike-length-and-850-meter-width-at-rpm-zone
⁷ https://fanickel.com/20260127-first-atlantic-nickel-increases-rpm-zone-strike-length-50-to-over-1-2-km-and-width-to-over-800-m-from-phase-2x-drilling-at-pipestone-xl-magnetic-nickel-cobalt-alloy-project
⁸ https://fanickel.com/20260716-first-atlantic-nickel-cobalt-expands-alloy-max-zone-445-meters-south-of-the-discovery-hole-xl-26-16-the-deepest-hole-to-date-at-pipestone-xl-intersects-large-grain-visible-awaruite-ni-fe-co-alloy-over-its-entire-525-meter-length-ending-in-open-mi
⁹ https://fanickel.com/20260716-first-atlantic-nickel-cobalt-expands-alloy-max-zone-445-meters-south-of-the-discovery-hole-xl-26-16-the-deepest-hole-to-date-at-pipestone-xl-intersects-large-grain-visible-awaruite-ni-fe-co-alloy-over-its-entire-525-meter-length-ending-in-open-mi
¹⁰ https://fanickel.com/20260615-first-atlantic-nickel-drills-second-large-scale-awaruite-ni-fe-co-alloy-discovery-at-alloy-max-north-pipestone-xl-project-5-2-km-north-of-rpm-zone-visible-awaruite-over-414-meter-drill-hole-ending-in-open-mineralization
¹¹ https://fanickel.com/20260127-first-atlantic-nickel-increases-rpm-zone-strike-length-50-to-over-1-2-km-and-width-to-over-800-m-from-phase-2x-drilling-at-pipestone-xl-magnetic-nickel-cobalt-alloy-project
¹² https://fanickel.com/20260127-first-atlantic-nickel-increases-rpm-zone-strike-length-50-to-over-1-2-km-and-width-to-over-800-m-from-phase-2x-drilling-at-pipestone-xl-magnetic-nickel-cobalt-alloy-project
¹³ https://fanickel.com/20260615-first-atlantic-nickel-drills-second-large-scale-awaruite-ni-fe-co-alloy-discovery-at-alloy-max-north-pipestone-xl-project-5-2-km-north-of-rpm-zone-visible-awaruite-over-414-meter-drill-hole-ending-in-open-mineralization
¹⁴ https://fanickel.com/20261006-first-atlantic-nickel-cobalt-raises-total-of-13-4-million-with-additional-3-49-million-no-warrant-non-brokered-private-placement-at-0-83-per-share-a-premium-to-market-to-accelerate-exploration-at-pipestone-xl-nickel-cobalt-alloy-project
¹⁵ https://fanickel.com/20260608-vema-hydrogen-and-first-atlantic-nickel-cobalt-sign-loi-to-develop-engineered-mineral-hydrogen-at-pipestone-xl-awaruite-project-in-newfoundland
¹⁶ https://fanickel.com/20260608-vema-hydrogen-and-first-atlantic-nickel-cobalt-sign-loi-to-develop-engineered-mineral-hydrogen-at-pipestone-xl-awaruite-project-in-newfoundland
¹⁷ https://fanickel.com/20260115-first-atlantic-nickel-highlights-relevance-of-pipestone-xl-awaruite-nickel-cobalt-alloy-discovery-to-address-u-s–critical-mineral-supply-chain-vulnerabilities-identified-in-january-14-2026-white-house-proclamation
¹⁸ https://fanickel.com/20260331-first-atlantic-nickel-announces-acceptance-into-defense-industrial-base-consortium-dibc—pipestone-xl-smelter-free-nickel-cobalt-alloy-project-addresses-midstream-smelting-bottleneck-in-u-s–defense-supply-chain
¹⁹ https://fanickel.com/20260619-first-atlantic-nickel-cobalt-highlights-g7-leaders-declaration-on-critical-minerals-g7-names-nickel-one-of-only-two-pilot-minerals-for-a-new-allied-traceability-framework-moves-to-mobilize-equity-investment-and-offtake-and-establishes-a-critical-
²⁰ https://fanickel.com/20260521-first-atlantic-nickel-cobalt-reports-electron-microprobe-analysis-returning-77-62-nickel-and-1-69-cobalt-in-awaruite-at-the-rpm-zone-pipestone-xl-project-a-rare-naturally-magnetic-ni-fe-co-high-grade-alloy-mineralogically-capable-of-bypassing-mid
²¹ https://d9-wret.s3.us-west-2.amazonaws.com/assets/palladium/production/mineral-pubs/nickel/mcs-2012-nicke.pdf
²² https://fanickel.com/20260624-first-atlantic-nickel-cobalt-produces-high-grade-alloy-concentrate-up-to-71-9-nickel-and-1-76-cobalt-from-its-pipestone-xl-nickel-cobalt-alloy-project-using-its-first-ever-onshore-max-magnetic-alloy-extraction-recovery-concentration-process-unvei
²³ https://d9-wret.s3.us-west-2.amazonaws.com/assets/palladium/production/mineral-pubs/nickel/mcs-2012-nicke.pdf

Photos accompanying this announcement are available at