Vancouver, British Columbia--(Newsfile Corp. - December 17, 2025) - First Atlantic Nickel Corp. (TSXV: FAN) (OTCQB: FANCF) (FSE: P21) ("FAN" or the "Company") announces a fully allocated non-brokered private placement (the "Offering") of flow-through common shares only, with no warrants, for aggregate gross proceeds of up to $2,944,780 from the sale of a combination of the following:Up to 4,971,219 charity flow-through common shares (each, a "CFT Share") issued at a price of $0.2432 per CFT Share on a "flo ...

Core Insights - First Atlantic Nickel Corp. has entered into agreements to acquire a 100% interest in 18 mineral licenses covering 500 mineral claims (12,500 hectares) in the Bay of Islands Ophiolite Complex, branding it as the "Ophiolite-X" project, which has multi-commodity potential including hydrogen, carbon capture, and various metals [1][8][42] - The Bay of Islands Ophiolite Complex (BOIC) is recognized for its geological significance, with studies indicating its potential for natural hydrogen generation and carbon dioxide storage, making it a strategic area for exploration [2][3][5] Geological and Mineral Potential - The BOIC consists of four major ophiolite massifs, with the Blow Me Down Mountain and Lewis Hills being significant for their mineralization potential, including nickel, chromium, and platinum group elements [2][28] - Research indicates that the BOIC has a theoretical CO₂ storage capacity of 5.1 × 10^11 tonnes, equivalent to over 13 years of global CO₂ emissions based on 2022 data [5][23] - The presence of brucite, formed during serpentinization, is highlighted as the most efficient mineral for CO₂ capture, requiring only ~2.5 tonnes of mineral to sequester 1 tonne of CO₂ [5][9][18] Hydrogen Generation and Carbon Capture - Active serpentinization within the BOIC generates dissolved hydrogen in ultrabasic springs, with pH values up to 12.3, indicating ongoing natural hydrogen production [3][12][13] - The BOIC is identified as an optimal geological setting for both natural and stimulated geological hydrogen production, with studies suggesting that ultramafic rocks can produce 2-4 kg of hydrogen per cubic meter [17][26] - Historical chromite occurrences in the BOIC are associated with significant hydrogen discoveries, suggesting a correlation between chromite mineralization and hydrogen generation potential [35][36] Strategic Agreements and Future Plans - The company has entered into three agreements to acquire additional mineral licenses, with consideration involving the issuance of common shares and subject to net smelter returns royalties [37][38] - The exploration programs will include systematic sampling to evaluate the occurrence of awaruite, a nickel-iron alloy, which serves as both a potential resource and an indicator of hydrogen generation potential [27][42] - The strategic location of the Pipestone XL Nickel Alloy Project near existing infrastructure enhances the company's position in the North American nickel market, particularly in light of the U.S. critical minerals list [42][44]

GRAND FALLS-WINDSOR, Newfoundland and Labrador, Dec. 11, 2025 (GLOBE NEWSWIRE) -- First Atlantic Nickel Corp. (TSXV: FAN) (OTCQB: FANCF) (FSE: P21) ("First Atlantic" or the "Company") is pleased to announce it has entered into agreements to acquire a 100% interest in 18 mineral licenses comprising 500 mineral claims (covering 12,500 hectares or 125 km2) within the Blow Me Down and Lewis Hills massifs in the Bay of Islands Ophiolite Complex (“BOIC”) in western Newfoundland. The Company has branded this strat ...

Core Insights - First Atlantic Nickel Corp. has successfully confirmed magnetically recoverable awaruite nickel alloy in all ten discovery holes at the RPM Zone, maintaining a 100% success rate in drilling [1][4][9] - The company is expanding its drilling program with four additional holes to explore the eastern, northern, and southern extensions of the RPM Zone, aiming to increase the drill-confirmed strike length to approximately 1.4 kilometers and width to 850 meters [2][9][10] Summary by Sections Discovery Success - All ten discovery holes at the RPM Zone intersected large-grain visible awaruite and returned positive magnetically recoverable nickel results, covering an area of approximately 800 meters in strike length by 750 meters in width [4][9] - Every hole has ended in mineralization, confirming that the system remains open in all directions [4] Expansion Drilling - Four additional drill holes (AN-25-11 to AN-25-14) have been added to the Phase 2X drilling program to test expansion potential in multiple directions [2][4] - The eastern expansion will focus on areas that have consistently returned the best magnetically recoverable nickel grades, particularly near Chrome Pond [3][9] - Hole AN-25-13 will test a 400-meter northern extension, while Hole AN-25-14 will explore a 200-meter southern step-out [2][10] Metallurgical and Processing Advantages - Awaruite, containing approximately 77% nickel, can be concentrated through magnetic separation and flotation, positioning the Pipestone XL Project as a potential secure input to a North American nickel supply chain [3][15] - The project supports a mine-direct-to-battery-refinery pathway, bypassing energy-intensive processes like smelting, which enhances environmental sustainability [3][16] - Magnetic separation achieves a 90% mass reduction, allowing for the recovery of nickel, chromium, and cobalt while minimizing waste [9][10] Future Prospects - The ongoing metallurgical program aims to create a marketable direct-to-refinery awaruite concentrate containing nickel and cobalt, with potential for high-grade chromium recovery as a byproduct [17] - Updates on recovery, separation, and preliminary concentrate products for nickel, chromium, and cobalt are anticipated in early 2026 [17]

Core Insights - First Atlantic Nickel Corp. has renamed its flagship Atlantic Nickel Project to Pipestone XL, reflecting its 100% ownership of the 30-kilometer Pipestone Ophiolite Complex, which has significant nickel mineralization potential [1][7][34] - The company aims to double the strike length and expand the width of the awaruite mineralization at the RPM Zone through the newly initiated Phase 2X drilling program [3][11][18] - The project is strategically located in Newfoundland, a top mining jurisdiction, which offers supportive government policies and established infrastructure for efficient project development [19][21][34] Company Overview - First Atlantic Nickel Corp. is focused on developing the Pipestone XL project, which contains awaruite, a nickel-iron-cobalt alloy that allows for smelter-free magnetic separation, enhancing its potential in the North American critical minerals supply chain [34][35] - The company has advanced its geological understanding of the Pipestone Ophiolite Complex through systematic exploration, leading to the discovery of multiple mineralized zones [2][7][34] Project Details - The Pipestone XL project features a continuous 30 km belt of serpentinized ultramafic rocks enriched in nickel and chromium, characterized by a strong magnetic anomaly [3][7] - The Phase 1 drilling program at the RPM Zone delineated a 400m x 500m area of disseminated awaruite mineralization, with the highest grades drilled to date [3][10][11] - Davis Tube Recovery (DTR) testing confirmed average nickel grades of 0.12% DTR across all drilled intervals, with magnetic concentrate grades averaging 1.38% nickel and 1.67% chromium [3][10][11] Exploration and Drilling Programs - The Phase 2X program aims to systematically expand the known mineralized area using step-out holes, targeting large volumes of disseminated awaruite suitable for bulk mining [12][13] - The company has identified that nickel grades vary by rock type, with broader peridotite units containing higher grades of 0.10-0.17% DTR nickel [13][18] Market Position and Strategic Importance - Newfoundland and Labrador ranks among the world's top 10 mining jurisdictions, providing a favorable environment for mining investment and exploration [19][21] - The growing demand for nickel, particularly for batteries and stainless steel, positions Pipestone XL as a crucial North American source of this essential metal [18][35]