First Atlantic Nickel Corp. announced it has completed a large-scale data compilation for its 21,850-hectare Atlantic Nickel Project in Central Newfoundland, Canada. This first-time extensive review, covering the entire Pipestone Ophiolite Ultramafic Complex, identified over 700 regional exploration reports.

Of these, 134 contained relevant project information, including data on prospecting, geological mapping, airborne geophysics, geochemistry, and drilling. The data compilation program outlined a 30-km core trend with consistent, highly anomalous nickel concentrations, strongly correlating with the Pipestone Complex's high-magnetic ultramafic rocks. This district-scale project encompasses ultramafic rocks with significant nickel potential.

Over 700 historical reports were examined, 134 digitized, resulting in the addition of 4,581 samples, 23 drill holes, and 115,859 assay results from project area to the database. Awaruite (nickel-iron alloy) identified in rocks, tills, and drill core samples over a 30 km trend. The company has identified awaruite nickel mineralization over a 30-kilometer trend with consistently elevated nickel grades, demonstrating potential for a new multi-zone nickel district in an ideal development location.

The company new geologic and exploration model, coupled with fully funded exploration and development programs, will accelerate the 2024 drilling program to define potential resources. The Atlantic Nickel Project spans 21,850 hectares, encompassing the Pipestone Complex (the "Complex"). The process is observed across a vast area, potentially extending over 30 kilometers in strike length.

Priority target areas (Zones) labeled in Table 1 are shown on the map, with these zones remaining open along trend. (C and D) Samples from Piller (2012) thesis showing awaruite (Awr) grains under Scanning Electron Microscope (SEM) from outcrop samples at the Atlantic Lake area, Atlantic Nickel Project. Entire drill hole (AL-6-78) shown; (left) plain image and; (right) hyperspectral scan completed as part of the Mining the Future 2030 operated by the Newfoundland Government.

Orange represents serpentinization (Serp), the alteration responsible for awaruite formation in ultramafic rocks with low sulfur content. The Atlantic Nickel Connection Mike Piller, FAN Project Geologist, completed his 2012 honors thesis titled, "An examination of Awaruite (Ni3Fe) Formation During serpentinization of the Pipestone Pond Ophiolitic Complex in the Atlantic Lake Area, Central Newfoundland". This study, funded by Altius and Cliffs Natural Resources, provided him with an in-depth understanding of the area's geology and the potential of awaruite as an economic resource.

Piller's expertise gives First Atlantic a competitive edge in evaluating the project's viability and targeting drill sites in the 2024 field programs to fully explore its potential. By developing this domestic awaruite nickel project, FAN aims to enhance supply chain security for the stainless steel and electric vehicle industries in the USA, Canada, and Europe. Exploration is highly speculative in nature, involves many risks, requires substantial expenditures, and may not result in the discovery of mineral deposits that can be mined profitably.

Geological compilation of the Atlantic Nickel Project. Drill core photo from AL-78-1 including visible awaruite within 87m @ 0.22% total nickel over entire hole; Samples from Piller, FAN aims to enhance Supply chain security for the stainless steel, electric vehicle industries in the USA and Europe. Exploration is highly spec in nature, involves many risks and many risks, requires substantial expenditures and may not result in the discover of mineral deposits that can be mine profitably.

Geological compilation of The Atlantic Nickel Project. Drill core image from AL-78-1 includes visible awaruite within 87 m @ 0.22% total Nickel over entire hole; Samples of Piller, Piller, FAN aims of Piller, FAN aims To ensure the most promising drill targets to enhance supply chain security for The Atlantic Nickel Project's potential. Exploration is highly speculative in Nature, involves many risks, requires significant expenditures, and exploration and development programs to enhance supply chain security for its potential.

Exploration is highly speculative, and exploration and development programs.