First Atlantic Nickel Proclaims $1M Premium No Warrant Charity Movement By Non-public Placement

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VANCOUVER, British Columbia, March 31, 2025 (GLOBE NEWSWIRE) — First Atlantic Nickel Corp. (TSXV: FAN) (OTCQB: FANCF) (FSE: P21) (“First Atlantic” or the “Firm”) proclaims that it intends to finish a non-brokered non-public placement financing of as much as 2,190,200 shares of the Firm issued on a charity flow-through foundation (the “Charity FT Shares”) at a worth of C$0.49 per Charity FT Share for proceeds of as much as C$1,073,198 (the “Providing”). The Firm plans to make use of the proceeds of the Providing on its Section 2 drilling and exploration program on the Atlantic Nickel Challenge in Central Newfoundland.

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Every Charity FT Share shall be issued as a “flow-through share” below the Revenue Tax Act (Canada) (the “Tax Act”). An quantity equal to the gross proceeds from the issuance of the Charity FT Shares shall be used to incur, on the Firm’s Canadian mineral exploration properties, eligible useful resource exploration bills that can qualify as (i) “Canadian exploration bills” (as outlined within the Tax Act), and (ii) “flow-through crucial mineral mining expenditures” (as outlined in subsection 127(9) of the Tax Act) (collectively, the “Qualifying Expenditures”). The Qualifying Expenditures in an combination quantity not lower than the gross proceeds raised from the problem of the Charity FT Shares shall be incurred on or earlier than December 31, 2026, and shall be renounced by the Firm to the purchasers of the preliminary purchasers of the Charity FT Shares with an efficient date no later than December 31, 2025. Within the occasion that the Firm is unable to surrender the problem worth for the Charity FT Shares on or previous to December 31, 2026, for every Charity FT Share bought and/or if the Qualifying Expenditures are lowered by the Canada Income Company, the Firm will as sole recourse for such failure to surrender, indemnify every Charity FT Share subscriber for the extra taxes payable by such subscriber to the extent permitted by the Tax Act on account of the Firm’s failure to surrender the Qualifying Expenditures as agreed.

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No warrants shall be issued in reference to this Providing, and no commissions or finder’s charges shall be paid.

For additional data, questions, or investor inquiries, please contact Rob Guzman at First Atlantic Nickel by cellphone at +1-844-592-6337 or by way of e mail at rob@fanickel.com.

The Providing is topic to the receipt of all obligatory regulatory and different approvals, together with, however not restricted to, acceptance of the TSX Enterprise Trade. All securities issued pursuant to the Providing shall be topic to a maintain interval of 4 months and someday from the cut-off date in accordance with relevant securities legal guidelines.

This information launch doesn’t represent a proposal to promote or a solicitation of a proposal to promote any of the securities in the US. The securities haven’t been and won’t be registered below the US Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities legal guidelines and might not be provided or bought inside the US or to U.S. Individuals until registered below the U.S. Securities Act and relevant state securities legal guidelines or an exemption from such registration is on the market.

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Awaruite (Nickel-iron alloy Ni₂Fe, Ni₃Fe)

Awaruite, a naturally occurring sulfur-free nickel-iron alloy composed of Ni₃Fe or Ni₂Fe with roughly ~75% nickel content material, affords a confirmed and environmentally protected resolution to reinforce the resilience and safety of North America’s home crucial minerals provide chain. In contrast to typical nickel sources, awaruite might be processed into high-grade concentrates exceeding 60% nickel content material by magnetic processing and easy floatation with out the necessity for smelting, roasting, or high-pressure acid leaching¹. Starting in 2025, the US Inflation Discount Act’s (IRA) $7,500 electrical car (EV) tax credit score mandates that eligible clear autos should not comprise any crucial minerals processed by international entities of concern (FEOC)². These entities embrace Russia and China, which at present dominate the worldwide nickel smelting trade. Awaruite’s smelter-free processing method might doubtlessly assist North American electrical car producers meet the IRA’s stringent crucial mineral necessities and cut back dependence on FEOCs for nickel processing.

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The U.S. Geological Survey (USGS) highlighted awaruite’s potential, stating, “The event of awaruite deposits in different elements of Canada might assist alleviate any extended scarcity of nickel focus. Awaruite, a pure iron-nickel alloy, is far simpler to pay attention than pentlandite, the principal sulfide of nickel”³. Awaruite’s distinctive properties allow cleaner and safer processing in comparison with typical sulfide and laterite nickel sources, which frequently contain smelting, roasting, or high-pressure acid leaching that may launch poisonous sulfur dioxide, generate hazardous waste, and result in acid mine drainage. Awaruite’s easier processing, facilitated by its amenability to magnetic processing and lack of sulfur, eliminates these dangerous strategies, decreasing greenhouse fuel emissions and dangers related to poisonous chemical launch, addressing issues in regards to the massive carbon footprint and poisonous emissions linked to nickel refining.

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Determine 1: Quote from USGS on Awaruite Deposits in Canada

The event of awaruite assets is essential, given China’s management within the world nickel market. Chinese language corporations refine and smelt 68% to 80% of the world’s nickel⁴ and management an estimated 84% of Indonesia’s nickel output, the most important worldwide provide⁵. Awaruite is a cleaner supply of nickel that reduces dependence on international processing managed by China, resulting in a safer and dependable provide for North America’s stainless-steel and electrical car industries.

Investor Data                

The Firm’s widespread shares commerce on the TSX Enterprise Trade below the image “FAN”, the American OTCQB Trade below the image “FANCF” and on a number of German exchanges, together with Frankfurt and Tradegate, below the image “P21”.

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Traders can get updates about First Atlantic by signing as much as obtain information by way of e mail and SMS textual content at www.fanickel.com. Keep linked and be taught extra by following us on these social media platforms:

https://x.com/FirstAtlanticNi
https://www.fb.com/firstatlanticnickel
https://www.linkedin.com/firm/firstatlanticnickel/

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

Disclosure

Adrian Smith, P.Geo., is a certified particular person as outlined by NI 43-101. The certified particular person is a member in good standing of the Skilled Engineers and Geoscientists Newfoundland and Labrador (PEGNL) and is a registered skilled geoscientist (P.Geo.). Mr. Smith has reviewed and permitted the technical data disclosed herein.

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About First Atlantic Nickel Corp.

First Atlantic Nickel Corp. (TSXV: FAN) (OTCQB: FANCF) (FSE: P21) is a Canadian mineral exploration firm growing the 100%-owned Atlantic Nickel Challenge, a large-scale nickel undertaking strategically positioned close to current infrastructure in Newfoundland, Canada. The Challenge’s nickel happens as awaruite, a pure nickel-iron alloy containing roughly 75% nickel with no-sulfur and no-sulfides. Awaruite’s properties permit for smelter-free magnetic separation and focus, which might strengthen North America’s crucial minerals provide chain by decreasing international dependence on nickel smelting. This aligns with new US Electrical Automobile US IRA necessities, which stipulate that starting in 2025, an eligible clear car might not comprise any crucial minerals processed by a FEOC (International Entities Of Concern)⁶.

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First Atlantic goals to be a key enter of a safe and dependable North American crucial minerals provide chain for the stainless-steel and electrical car industries within the USA and Canada. The corporate is positioned to satisfy the rising demand for responsibly sourced nickel that complies with the crucial mineral necessities for eligible clear autos below the US IRA. With its dedication to accountable practices and skilled staff, First Atlantic is poised to contribute considerably to the nickel trade’s future, supporting the transition to a cleaner power panorama. This mission gained significance when the US added nickel to its crucial minerals record in 2022, recognizing it as a non-fuel mineral important to financial and nationwide safety with a provide chain weak to disruption.

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Neither the TSX Enterprise Trade nor its Regulation Companies Supplier (as that time period is outlined in insurance policies of the TSX Enterprise Trade) accepts accountability for the adequacy or accuracy of this launch.

Ahead-looking statements:

This information launch might embrace “forward-looking data” below relevant Canadian securities laws. Such forward-looking data displays administration’s present beliefs and are primarily based on plenty of estimates and/or assumptions made by and data at present out there to the Firm that, whereas thought of cheap, are topic to identified and unknown dangers, uncertainties, and different components which will trigger the precise outcomes and future occasions to vary materially from these expressed or implied by such forward-looking data.
Ahead trying data on this information launch contains, however just isn’t restricted to, the completion of the proposed Providing, using proceeds from the Providing, expectations relating to the timing, scope, and outcomes from the Section 1 work and drilling program; outcomes from the Section 2 work and drilling program, future undertaking developments, the Firm’s targets, targets or future plans, statements, and estimates of market situations. Readers are cautioned that such forward-looking data are neither guarantees nor ensures and are topic to identified and unknown dangers and uncertainties together with, however not restricted to, basic enterprise, financial, aggressive, political and social uncertainties, unsure and unstable fairness and capital markets, lack of obtainable capital, precise outcomes of exploration actions, environmental dangers, future costs of base and different metals, working dangers, accidents, labour points, delays in acquiring governmental approvals and permits, and different dangers within the mining trade. Extra components and dangers together with varied danger components mentioned within the Firm’s disclosure paperwork which might be discovered below the Firm’s profile on http://www.sedarplus.ca. Ought to a number of of those dangers or uncertainties materialize, or ought to assumptions underlying the forward-looking statements show incorrect, precise outcomes might fluctuate materially from these described herein as supposed, deliberate, anticipated, believed, estimated or anticipated.

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The Firm is presently an exploration stage firm. Exploration is extremely speculative in nature, entails many dangers, requires substantial expenditures, and will not end result within the discovery of mineral deposits that may be mined profitably. Moreover, the Firm at present has no reserves on any of its properties. Consequently, there might be no assurance that such forward-looking statements will show to be correct, and precise outcomes and future occasions might differ materially from these anticipated in such statements. 

¹
https://fpxnickel.com/projects-overview/what-is-awaruite/
²
https://residence.treasury.gov/information/press-releases/jy1939
³
https://d9-wret.s3.us-west-2.amazonaws.com/property/palladium/manufacturing/mineral-pubs/nickel/mcs-2012-nicke.pdf
⁴
https://www.brookings.edu/wp-content/uploads/2022/08/LTRC_ChinaSupplyChain.pdf
⁵
https://www.airuniversity.af.edu/JIPA/Show/Article/3703867/the-rise-of-great-mineral-powers/
⁶
https://residence.treasury.gov/information/press-releases/jy1939

A photograph accompanying this announcement is on the market at https://www.globenewswire.com/NewsRoom/AttachmentNg/f57b8c1b-0798-4006-8cde-8f7aa5c0b25c

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