Noront Announces Results of Metallurgical Test Work for Eagle's Nest and Reports Test Drilling Assays

Noront Resources Ltd. ("Noront" or the "Company") (TSX Venture: NOT) today updated the metallurgical information for its Eagle's Nest Mine Project and provided results from its 2020 drilling program.

Metallurgical testing conducted by Expert Process Solutions (XPS), a GLENCORE company, demonstrated very good overall metallurgical performance of the Eagle's Nest ore with strong indications of the production of high-quality marketable copper and nickel concentrates, low in magnesium oxide (MgO) at high metal recoveries. Locked cycle tests on a representative sample produced a bulk concentrate followed by separate nickel and copper concentrates with results shown in Table 1.

Table 1 : Summary r esults of bulk and separate Ni and Cu concentrates

Stream	Mass (g)	Mass (%)	Assay (%)							Assay (ppm)
Stream	Mass (g)	Mass (%)	Cu	Ni	Co	Fe	S	MgO	SiO2	Ag	Au	Pd	Pt
Bulk c on centrate	1,185	100.0	5.5	9.9	0.285	39.5	31.1	4.2	5.5	11.0	0.64	17.8	4.0
Cu c on centrate	201	16.9	28.7	1.5	0.045	30.5	32.0	2.6	3.3	36.8	3.03	24.8	5.6
Ni c on centrate	984	83.1	0.8	11.6	0.334	41.3	31.0	4.5	5.9	5.7	0.15	16.3	3.7

To see an image of Table 1: Summary results of bulk and separate Ni and Cu concentrates, please visit the following link: https://www.globenewswire.com/NewsRoom/AttachmentNg/2d63007a-7566-4e6c-8ac8-5fb19c1032bc

XPS modeling indicated further enhancement of the separate concentrates is possible, including reduction of nickel content in the copper concentrate. Noront plans to conduct continuous pilot plant testing work on recently drilled core samples to confirm this modeling.

"These are important results as they enable us to pursue multiple marketing options for our concentrates," said Noront President and CEO Alan Coutts. "Not only can Noront sell high quality products to traditional Canadian and international refining companies, but we can also provide dedicated nickel concentrates to the emerging battery metals sector."

2020 Metallurgical Drilling
In early 2020 Noront executed a metallurgical drilling campaign to collect additional sample material from the Eagle's Nest deposit for future variability testing. Four holes totalling 642m were drilled, including two holes into the upper domain and two wedge holes into the lower domain. The upper domain holes were continuously assayed to better inform the resource model. The lower domain holes were only sporadically assayed to preserve sufficient material for future metallurgical testing. Table 2 summarizes assay results of the upper domain holes and showcases the incredible metal tenor of the Eagle's Nest sulfide ores. A composite photo of the massive sulfide intersection in NOT-20-001 is shown in Figure 1.

Table 2: Assay highlights from the 2020 upper domain metallurgical drilling at Eagle's Nest

Hole	From (m)	To (m)	Width (m)	Ni (%)	Cu (%)	Co (%)	Pt (ppm)	Pd (ppm)	Au (ppm)	Ag (ppm)	Mineralization Style
NOT-20-001	44.00	143.35	99.35	4.06	1.91	0.09	0.99	5.67	0.22	5.22
Including	44.00	57.50	13.50	0.56	0.45	0.02	0.64	1.83	0.18	2.53	disseminated sulfide
Including	57.50	107.3	49.80	2.01	0.82	0.05	1.10	3.29	0.14	3.19	net-textured sulfide
I ncluding	107.30	143.35	36.05	8.20	3.97	0.17	0.98	10.39	0.34	9.04	massive sulfide
NOT-20-002	35.00	86.00	51.00	1.89	0.84	0.05	1.19	3.48	0.36	3.38
Including	35.00	60.50	25.50	0.60	0.48	0.02	0.69	1.89	0.18	2.19	disseminated sulfide
Including	60.5	86.00	25.50	3.18	1.21	0.08	1.70	5.07	0.54	4.57	net-textured sulfide

To see an image of Table 2: Assay highlights from the 2020 upper domain metallurgical drilling at Eagle's Nest, please visit the following link: https://www.globenewswire.com/NewsRoom/AttachmentNg/b4354eb5-a277-4655-8365-a3b9cc7f12ea

Ring of Fire Nickel Prospectivity
The grade of known nickel-copper-PGE sulfides in the Ring of Fire is comparable to some of the richest nickel deposits in the world. The high tenor nature of magmatic sulfides at Eagle's Nest coupled with the proven conditions for formation of a sizeable nickel deposit presents a compelling case for continued nickel exploration in the region.

In 2019, the Company completed a nickel targeting exercise which identified over 70 early stage nickel targets in the Ring of Fire. The Victory target, staked in early 2020 was a product of this work. A recently completed VTEM-plus survey over the Victory property identified several mid-time EM conductors associated with magnetic targets of possible ultramafic source. Noront is examining follow-up ground EM surveys to better resolve these targets ahead of drilling.

In addition, a thorough, independent review of the extensive geophysical database will be commissioned to identify previously overlooked or undertested priority EM anomalies with nickel potential. It is worth noting that the Company's geophysical database in the Ring of Fire consists of over 130 airborne EM surveys, over 250 ground EM surveys as well as numerous other surveys of different types (e.g., gravity, IP). Most of these surveys were completed by previous operators in the early days of Ring of Fire exploration prior to our current understanding of the geology in the region. A re-evaluation of this extensive dataset is timely and may yield a significant number of quality untested targets.

XPS Metallurgical Test Work Detail
Eagle's Nest is a high-grade nickel-copper-PGE deposit, located in the emerging mining region known as the Ring of Fire in Northwestern Ontario. Noront filed an NI 43-101 compliant technical report for this project in 2012, applying mineralogical and metallurgical test work by SGS Lakefield.

The 2020 mineralogical and metallurgical work was commissioned to verify that marketable, separate nickel and copper concentrates could be prepared with representative sulfide samples from the deposit. Open-circuit tests were used to define and tune the processes to produce a bulk concentrate, consistent with previous SGS work and to split it into two concentrates via a separation process. Locked-cycle tests were run to examine the final process performance, based on a sample prepared by XPS. Since bench tests do not fully yield the results that can be attained in a full-scale plant with columns and re-circulating loads, XPS developed simulation software to estimate the expected final products to be produced at the full-scale plant.

XPS used material and composite samples that had been stored in SGS Lakefield's freezer for the initial work. The condition of this material was verified by replicating the SGS process using the same historic blend ratios of net-textured to massive sulfide used by SGS to produce bulk concentrates with similar properties as the SGS work. XPS then used material from the composites to prepare a new representative composite blend of 83:17 (net-textured to massive sulfide) to test the revised process steps.

Test work with open circuits on the 83:17 blend was done to refine the flow sheet and produce an improved bulk concentrate process. XPS then moved on to locked-cycle tests with the new 83:17 composite to produce a bulk concentrate and then separate nickel and copper concentrates. The bulk concentrate circuit produced stable results and yielded recoveries of 91.8% Cu, 83.1% Ni, 81.8% Co, 72.6% Ag, 86.1% Au, 85.0% Pd and 76.8% Pt into a bulk concentrate with 5.1% Cu, 9.7% Ni and 31.1% S (Table 3). Importantly, the magnesium level of the bulk concentrate was 4.3% MgO.

Table 3 : Results of 83:17 composite blend bulk circuit test work

Stream	Mass (g)	Mass (%)	Assay (%)							Assay (ppm)
Stream	Mass (g)	Mass (%)	Cu	Ni	Co	Fe	S	MgO	SiO2	Ag	Au	Pd	Pt
Rougher Feed	5,905	100.0	1.3	2.8	0.08	23.3	13.2	21.6	25.1	3.5	0.2	4.8	1.3
Total Tails	4,475	75.8	0.1	0.6	0.02	18.1	7.4	27.1	31.3	1.3	0.0	0.9	0.4
Total Bulk Con c.	1,430	24.2	5.1	9.7	0.28	39.6	31.1	4.3	5.6	10.5	0.7	16.7	4.2
Stream	Mass (g)	Mass (%)	Distribution (%)							Distribution (%)
Stream	Mass (g)	Mass (%)	Cu	Ni	Co	Fe	S	MgO	SiO2	Ag	Au	Pd	Pt
Rougher Feed	5,905	100.0	100.0	100.0	100.0	100.0	100.0	100.0	100.0	100.0	100.0	100.0	100.0
Total Tails	4,475	75.8	8.2	16.9	18.2	58.9	42.8	95.2	94.6	27.4	13.9	15.0	23.2
Total Bulk C on c.	1,430	24.2	91.8	83.1	81.8	41.1	57.2	4.8	5.4	72.6	86.1	85.0	76.8

To see an image of Table 3: Results of 83:17 composite blend bulk circuit test work, please visit the following link: https://www.globenewswire.com/NewsRoom/AttachmentNg/ecae2c1c-d6d7-4db8-82bf-d8354df11d97

Test results of the copper-nickel separation are shown in Table 4. They indicate substantial copper-nickel separation is achievable. The observed level of nickel in the copper concentrate exceeds the assumed commercial target, however this is a common feature of most copper-nickel separation bench-scale testing. To overcome this, XPS developed a proprietary modelling program to predict metallurgical performance at the plant scale based on bench scale test work. Table 5 summarizes the modelled copper-nickel separation results for the Eagle's Nest 83:17 composite blend and indicates nickel values below 1% in the copper concentrate, a key objective for marketable copper concentrates worldwide.

Table 4 : Results of copper-nickel s eparation (Formal Balance)

Stream	Mass (g)	Mass (%)	Assay (%)							Assay (ppm)
Stream	Mass (g)	Mass (%)	Cu	Ni	Co	Fe	S	MgO	SiO2	Ag	Au	Pd	Pt
Bulk c on centrate	1,185	100.0	5.5	9.9	0.285	39.5	31.1	4.2	5.5	11.0	0.64	17.8	4.0
Cu c on centrate	201	16.9	28.7	1.5	0.045	30.5	32.0	2.6	3.3	36.8	3.03	24.8	5.6
Ni c on centrate	984	83.1	0.8	11.6	0.334	41.3	31.0	4.5	5.9	5.7	0.15	16.3	3.7
Stream	Mass (g)	Mass (%)	Distribution (%)							Distribution (%)
Stream	Mass (g)	Mass (%)	Cu	Ni	Co	Fe	S	MgO	SiO2	Ag	Au	Pd	Pt
Bulk c on centrate	1,185	100.0	100.0	100.0	100.0	100.0	100.0	100.0	100.0	100.0	100.0	100.0	100.0
Cu c on centrate	201	16.9	88.2	2.5	2.7	13.1	17.4	10.5	10.2	56.7	80.0	23.7	23.5
Ni c on centrate	984	83.1	11.8	97.5	97.3	86.9	82.6	89.5	89.8	43.3	20.0	76.3	76.5

To see an image of Table 4: Results of copper-nickel separation (Formal Balance), please visit the following link: https://www.globenewswire.com/NewsRoom/AttachmentNg/e0b5b3b2-5b4b-4f74-afa8-ab96e8106fec

Table 5 : Results of copper-nickel separation (XPS Modelled)

Stream	Mass (%)		Assay (%)							Assay (ppm)
Stream	Mass (%)		Cu	Ni	Co	Fe	S	MgO	SiO2	Ag	Au	Pd	Pt
Bulk concentrate	100.0	%	5.1	9.7	0.28	39.6	31.1	4.3	5.6	10.5	0.7	16.7	4.2
Cu concentrate	14.1	%	29.9	0.5	0.02	22.1	33.9	0.9	1.1	32.6	3.4	18.6	4.5
Ni concentrate	85.9	%	1.0	11.2	0.32	42.5	30.7	4.8	6.2	6.9	0.2	16.4	4.1
Stream	Mass (%)		Distribution (%)							Distribution (%)
Stream	Mass (%)		Cu	Ni	Co	Fe	S	MgO	SiO2	Ag	Au	Pd	Pt
Bulk concentrate	100.0	%	100.0	100.0	100.0	100.0	100.0	100.0	100.0	100.0	100.0	100.0	100.0
Cu concentrate	14.1	%	83.1	0.7	0.8	7.8	15.3	2.8	2.8	43.4	71.6	15.7	15.1
Ni concentrate	85.9	%	16.9	99.3	99.2	92.2	84.7	95.8	95.2	56.6	28.4	84.3	84.9

To see an image of Table 5: Results of copper-nickel separation (XPS Modelled), please visit the following link: https://www.globenewswire.com/NewsRoom/AttachmentNg/ad13c4d9-cf04-4bd2-a224-2934de86b817

Tables 4 and 5 clearly show that the majority of the recovered nickel reports to the nickel concentrate (99.3%) and the majority of the recovered copper reports to the copper concentrate (83.1%) indicating successful copper-nickel separation from the bulk concentrate. The test work also indicates the majority (84%) of platinum and palladium report to the nickel concentrate.

In summary, the XPS test work demonstrates that Eagle's Nest ore is amenable to separate copper-nickel concentrates which show early indications of being a high-quality product with good overall recoveries and concentrate specifications. To confirm these results for a plant scale, Noront is planning to perform continuous pilot plant testing work with XPS using core samples collected from the 2020 metallurgical drilling program.

Figure 1: Massive sulfide intersection in NOT-20-001 from 107.30-143.35m depth (HQ core) is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/6ba11843-4d7b-4bab-93e3-a8d6cd992647

Quality Assurance and Quality Control (QA/QC) Program
Noront maintains a strict QA/QC protocol for all its drilling programs. Core logging and sampling is performed onsite under the supervision of geologists licensed by the Association of Professional Geoscientists of Ontario (APGO). Reference standards, field blanks, and duplicates are inserted into the sample stream at regular intervals. Once cut, drill core samples are labelled and sealed in individual bags then grouped into batches for shipping to Thunder Bay via Nakina under chain of custody documentation.

Samples are submitted to Activation Laboratories (Actlabs), an ISO-17025 certified laboratory in Thunder Bay, for sample preparation and multi-element analysis. This includes fire-assay for precious metals and total-digestion ICP-OES for base metals (exclusive of chromium which is analysed by XRF). Samples exceeding analytical upper limits are automatically run for over-limit analysis. Analytical results are sent electronically by Actlabs to a database manager at Noront whereupon the company's internal standards, duplicates and blanks are reviewed for accuracy, precision and the presence of possible contamination. QA/QC results for each batch are reviewed by a Noront Qualified Professional prior to accepting and importing new assays into the database. All assays reported in this press release passed the Noront QA/QC program.

About Noront Resources
Noront Resources Ltd. is focused on the development of its high-grade Eagle's Nest nickel, copper, platinum and palladium deposit and the world class chromite deposits including Blackbird, Black Thor, and Big Daddy, all of which are located in the James Bay Lowlands of Ontario in an emerging metals camp known as the Ring of Fire. www.norontresources.com

Ryan Weston, M.Sc., MBA, P.Geo, Vice-President, Exploration, Qualified Person as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects ("NI-43-101"), has reviewed and approved the technical information as it relates to the drilling results contained in this press release.

Mark Baker, B.Sc.Eng., M.Sc.Eng., P.Eng., Vice-President, Projects, Qualified Person as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects ("NI-43-101"), has reviewed and approved the technical information as it relates to the metallurgical testing results contained in this press release.

Neither 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.

For more information:
Technical Contact
Ryan Weston
ryan.weston@norontresources.com
(807) 285 4808 x 1

Media Contact
Janice Mandel
janice.mandel@stringcom.com
(647) 300-3853

CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION
This press release includes certain "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information is based on reasonable assumptions that have been made by Noront as at the date of such information and is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Noront to be materially different from those expressed or implied by such forward-looking information, including but not limited to: the impact of general business and economic conditions; that all conditions precedent to the transactions will be met; risks related to government and environmental regulation, actual results of current exploration activities, conclusions of economic evaluations (including those contained in the Feasibility Study) and changes in project parameters as plans continue to be refined; problems inherent to the marketability of base and precious metals; industry conditions, including fluctuations in the price of base and precious metals, fluctuations in interest rates; government entities interpreting existing tax legislation or enacting new tax legislation in a way which adversely affects Noront; stock market volatility; competition; risk factors disclosed in Noront's most recent Management's Discussion and Analysis and Annual Information Form, available electronically on SEDAR; and such other factors described or referred to elsewhere herein, including unanticipated and/or unusual events. Many such factors are beyond Noront's ability to control or predict.

Although Noront has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking information will prove to be accurate as actual results and future events could differ materially from those reliant on forward-looking information.

All of the forward-looking information given in this press release is qualified by these cautionary statements and readers are cautioned not to put undue reliance on forward-looking information due to its inherent uncertainty. Noront disclaims any intent or obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise, except as required by law. This forward-looking information should not be relied upon as representing the Company's views as of any date subsequent to the date of this press release.

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not:ca nickel investing

FPX Nickel Completes Production Run of Battery-Grade Nickel Sulphate to Support Discussions with Prospective EV Battery Supply Chain Partners

FPX Nickel Corp. (TSXV: FPX) (OTCQB: FPOCF) ("FPX" or the "Company") is pleased to announce successful production of additional battery-grade nickel sulphate from its Baptiste Nickel Project ("Baptiste" or the "Project"). Building on the success of previous testing campaigns, a production run was completed to produce larger quantities of nickel sulphate crystals. The nickel sulphate samples, which meet the strict target specifications for battery applications, will be provided to selected prospective downstream partners including pCAM producers, battery companies, and automakers pursuing supply security, traceable sourcing, and low carbon intensity production.

"The production of high-purity nickel sulphate further positions us to engage in strategic discussions with prospective downstream partners across the global EV supply chain," commented Martin Turenne, FPX Nickel's President and Director. "This milestone further demonstrates the strategic flexibility of the Baptiste awaruite concentrate and the technical maturity of the awaruite refining process."

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First Atlantic Nickel to Attend Benchmark Mineral Intelligence's GIGA USA 2025 Conference, Highlighting Atlantic Nickel Project's Smelter-Free Processing for North America's Critical Minerals Supply Chain

First Atlantic Nickel Corp. (TSXV: FAN) (OTCQB: FANCF) (FSE: P21) ("First Atlantic" or the "Company") is pleased to announce its participation at the Benchmark Mineral Intelligence GIGA USA 2025 conference, taking place June 3-4, 2025, in Washington, DC. The Company will participate in strategic meetings during this critical mineral conference to demonstrate how its Atlantic Nickel Project addresses the growing need for nickel mining that can be completely processed in North America. The Atlantic Nickel Project contains nickel in the form of awaruite, a naturally occurring, sulfur-free, highly magnetic mineral with approximately 75% nickel content. These unique properties enable direct processing through magnetic separation and flotation, eliminating reliance on foreign overseas smelting or roasting operations. This simplified mineral processing method significantly lowers energy requirements and reduces environmental impacts, strengthening the development of a resilient, domestic critical minerals supply chain.

The GIGA USA conference brings together key players from across the critical minerals sector for two days of networking, dealmaking, and policy discussions. Attendees include major automakers such as Tesla, Ford, General Motors, Rivian, Mercedes-Benz, and Volkswagen; battery manufacturers like LG Energy Solutions, Samsung SDI, and Panasonic Energy; and global mining companies including Rio Tinto, Vale, Glencore, South32, and Anglo American. Government representatives from the U.S. Department of Energy, U.S. Department of Commerce, U.S. Department of Defense, U.S. Department of State, the Government of Quebec, the Embassy of Canada, and the Delegation of the European Union will also attend. Conference topics will address the expansion of the United States' lithium-ion battery gigafactory industry and the need to establish secure, sustainable supply chains for critical raw materials, including lithium, nickel, graphite, cobalt, manganese and rare earth elements.

The conference addresses key areas of focus including strengthening the U.S. critical minerals supply chain through domestic production and expanded gigafactory capacity, examining policy and trade impacts, such as the Inflation Reduction Act (IRA), and enhancing national security through critical mineral independence. The conference will also focus on investment and financing opportunities for next-generation mining projects, innovations in battery technology and sustainability, and the importance of global collaboration and strategic partnerships.

The Company's Atlantic Nickel Project offers a secure and reliable solution for domestic nickel production. By leveraging awaruite's sulfur-free composition, high nickel content and magnetic properties, the project enables simple processing through magnetic separation and flotation without the need for secondary processing such as smelting or roasting. Unlike traditional nickel sulfide and laterite projects that undergo energy-intensive processes creating harmful waste and emissions, awaruite's metallurgical properties enable complete domestic nickel production while eliminating reliance on overseas processing. The lower energy requirements and sulfur-free nature of awaruite result in a reduced carbon and environmental footprint. The Company remains committed to strengthening North American critical minerals supply chains, with the Atlantic Nickel Project positioned to provide a secure, reliable nickel source for North American industries including electric vehicles, batteries, defense, and stainless steel manufacturing.

Conference Meeting Requests

First Atlantic welcomes the opportunity to meet with strategic partners, shareholders and investors during the GIGA USA 2025 conference. Interested parties are encouraged to contact Rob Guzman at rob@fanickel.com or by phone at 844-592-6337 to arrange meetings. The conference takes place June 3-4, 2025 in Washington, DC.

Phase 2 Drilling Update

The Phase 2 drilling program is currently underway and successfully expanding the awaruite mineralization identified in multiple drill holes during the Phase 1 campaign. Technical improvements, including optimized HQ/NQ drill configurations and enhanced drill bit selection, have enabled the current program to reach greater depths than previously achieved. The Company anticipated providing updates on the Phase 2 drill holes in the coming weeks.

For further information, questions, or investor inquiries, please contact Rob Guzman at First Atlantic Nickel by phone at +1-844-592-6337 or via email at rob@fanickel.com

Corporate Update

The Company also announces that on May 21, 2025 it closed the definitive agreement dated May 6, 2025 (the "Purchase Agreement") to acquire a 100% interest in eight mineral licenses totaling approximately 3,350 hectares. These licenses are strategically located around the Company's Atlantic Nickel Project in central Newfoundland, in the Cold Spring Pod and Coy Pond areas. Under the terms of the Purchase Agreement, the Company has issued 1,000,000 Shares at a deemed price of $0.205 per Share. These Shares are subject to a statutory hold period of four months and one day, in accordance with applicable Canadian securities laws. And further to its May 6, 2025 news release, it closed the previously announced settlement agreement (the "Settlement Agreement") on May 22, 2025, to settle outstanding obligations totaling $202,950 owed to an arm's length creditor (the "Creditor") related to accounting services provided under a consulting agreement dating back to 2017. Pursuant to the Settlement Agreement, the Company has issued an aggregate of 312,500 common shares (each, a "Share") at a deemed price of $0.32 per Share. These Shares will be released in three equal tranches over a 12-month period and are subject to a statutory hold period of four months and one day, in accordance with applicable Canadian securities laws.

Awaruite (Nickel-iron alloy Ni₂Fe, Ni₃Fe)

Awaruite, a naturally occurring sulfur-free nickel-iron alloy composed of Ni₃Fe or Ni₂Fe with approximately ~75% nickel content, offers a proven and environmentally safe solution to enhance the resilience and security of North America's domestic critical minerals supply chain. Unlike conventional nickel sources, awaruite can be processed into high-grade concentrates exceeding 60% nickel content through magnetic processing and simple floatation without the need for smelting, roasting, or high-pressure acid leaching ¹ . Beginning in 2025, the US Inflation Reduction Act's (IRA) $7,500 electric vehicle (EV) tax credit mandates that eligible clean vehicles must not contain any critical minerals processed by foreign entities of concern (FEOC) ² . These entities include Russia and China, which currently dominate the global nickel smelting industry. Awaruite's smelter-free processing approach could potentially help North American electric vehicle manufacturers meet the IRA's stringent critical mineral requirements and reduce dependence on FEOCs for nickel processing.

The U.S. Geological Survey (USGS) highlighted awaruite's potential, stating, "The development of awaruite deposits in other parts of Canada may help alleviate any prolonged shortage of nickel concentrate. Awaruite, a natural iron-nickel alloy, is much easier to concentrate than pentlandite, the principal sulfide of nickel." ³ Awaruite's unique properties enable cleaner and safer processing compared to conventional sulfide and laterite nickel sources, which often involve smelting, roasting, or high-pressure acid leaching that can release toxic sulfur dioxide, generate hazardous waste, and lead to acid mine drainage. Awaruite's simpler processing, facilitated by its amenability to magnetic processing and lack of sulfur, eliminates these harmful methods, reducing greenhouse gas emissions and risks associated with toxic chemical release, addressing concerns about the large carbon footprint and toxic emissions linked to nickel refining.

First Atlantic Nickel Corp.

Figure 1: Quote from USGS on Awaruite Deposits in Canada

The development of awaruite resources is crucial, given China's control in the global nickel market. Chinese companies refine and smelt 68% to 80% of the world's nickel ⁴ and control an estimated 84% of Indonesia's nickel output, the largest worldwide supply ⁵ . Awaruite is a cleaner source of nickel that reduces dependence on foreign processing controlled by China, leading to a more secure and reliable supply for North America's stainless steel and electric vehicle industries.

Investor Information

The Company's common shares trade on the TSX Venture Exchange under the symbol " FAN ", the American OTCQB Exchange under the symbol " FANCF " and on several German exchanges, including Frankfurt and Tradegate, under the symbol " P21 ".

Investors can get updates about First Atlantic by signing up to receive news via email and SMS text at www.fanickel.com . Stay connected and learn more by following us on these social media platforms:

https://x.com/FirstAtlanticNi

https://www.facebook.com/fanickelcorp

https://www.linkedin.com/company/firstatlanticnickel/

FOR MORE INFORMATION:
First Atlantic Investor Relations
Robert Guzman
Tel: +1 844 592 6337
rob@fanickel.com

Disclosure

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 Corp.

First Atlantic Nickel Corp. (TSXV: FAN) (OTCQB: FANCF) (FSE: P21) is a Canadian mineral exploration company developing the 100%-owned Atlantic Nickel Project, a large-scale nickel project strategically located near existing infrastructure in Newfoundland, Canada. The Project's nickel occurs as awaruite, a natural nickel-iron alloy containing approximately 75% nickel with no-sulfur and no-sulfides. Awaruite's properties allow for smelter-free magnetic separation and concentration, which could strengthen North America's critical minerals supply chain by reducing foreign dependence on nickel smelting. This aligns with new US Electric Vehicle US IRA requirements, which stipulate that beginning in 2025, an eligible clean vehicle may not contain any critical minerals processed by a FEOC (Foreign Entities Of Concern) ⁶ .

First Atlantic aims to be a key input of a secure and reliable North American critical minerals supply chain for the stainless steel and electric vehicle industries in the USA and Canada. The company is positioned to meet the growing demand for responsibly sourced nickel that complies with the critical mineral requirements for eligible clean vehicles under the US IRA. With its commitment to responsible practices and experienced team, First Atlantic is poised to contribute significantly to the nickel industry's future, supporting the transition to a cleaner energy landscape. This mission gained importance when the US 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 may include "forward-looking information" under applicable Canadian securities legislation. Such forward-looking information reflects management's current beliefs and are based on a number of estimates and/or assumptions made by and information currently available to the Company that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors that may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information.

Forward-looking information in this news release includes, but is not limited to: statements regarding: the timing, scope and results of the Company's Phase 1 and Phase 2 work and drilling programs; future project developments; the Company's objectives, goals, and future plans; statements and estimates of market conditions; the viability of magnetic separation as a low-impact processing method for awaruite; the strategic and economic implications of the Company's projects ; and expectations regarding future developments and strategic plans; Readers are cautioned that such forward-looking information are neither promises nor guarantees and are subject to known and unknown risks and uncertainties including, but not limited to, general business, economic, competitive, political and social uncertainties, uncertain and volatile equity and capital markets, lack of available capital, actual results of exploration activities, environmental risks, future prices of base and other metals, operating risks, accidents, labour issues, delays in obtaining governmental approvals and permits, and other risks in the mining and clean energy industries. Additional factors and risks including various risk factors discussed in the Company's disclosure documents which can be found under the Company's profile on http://www.sedarplus.ca. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected.

The Company is presently an exploration stage company. 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. Furthermore, the Company currently has no mineral reserves on any of its properties. As a result, there can be no assurance that such forward-looking statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. The Company undertakes no obligation to update forward-looking information, except as required by applicable securities laws.

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Indicator	Updated Result
Samples > 0.5 % NiEq	134 (≈ 32%)
Samples > 1.0 % NiEq	70 (≈ 17%)
Maximum grade	3.89 % NiEq
Average grade (all samples)	0.48 % NiEq

Noront Announces Results of Metallurgical Test Work for Eagle's Nest and Reports Test Drilling Assays

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