Atlantic Nickel & Cobalt Raises Total of $9.9 Million With Second September Financing; Strategic Investor Exercises Participation Right to Maintain 9.9% Ownership in $3.77 Million No-Warrant, Non-Brokered Private Placement

Atlantic Nickel & & Cobalt Corp. (TSXV: FAN|OTCQB: FANCF|FSE: P21 )( “First Atlantic “or the” Company”)is happy to reveal that it has actually closed a no-warrant, non-brokered personal positioning (the “Offering”) for aggregate gross earnings of $3,767,700.25. Following this closing, the Company has actually raised aggregate gross earnings of roughly $9.925 million from fundings finished in September 2026. The Offering included 2,333,667 flow-through typical shares of the Company (each, an “Feet Share”) at a cost of $0.75 per feet Share, and 2,570,000 charity flow-through typical shares of the Company (each, a “CFT Share”) at a rate of $0.785 per CFT Share. Each Feet Share and CFT Share certifies as a “flow-through share” within the significance of subsection 66( 15) of the Earnings Tax Act (Canada). No warrants were released in connection with the Offering.

In connection with the Offering, a tactical financier exercised its involvement right under an existing Investor Rights Agreement. The financier’s involvement was restricted so that, following conclusion of the Offering, its advantageous ownership of the Company’s released and impressive typical shares will not go beyond 9.99%, staying listed below the 10% early caution reporting limit.

Atlantic invites calls straight from investors and potential financiers. For concerns about the Company or the Pipestone XL job, or merely to get more information, financiers are welcomed to call Rob Guzman, Investor Relationsat +1 -844 -592 -6337 or email [email protected]

Profits will money follow-up and growth drilling at the Alloy Max North and Alloy Max South Zones, the Company’s brand-new massive awaruite discovery extending approximately around 7.7 kilometres north of the RPM Zone. Alloy Max covers roughly 4 kilometres of strike and as much as 1.5 kilometres in width, bigger than the RPM Zone, and both the Alloy Max discovery hole, XL-26-15, and XL-26-16, the inmost hole to date at Pipestone XL, ended in noticeable awaruite mineralization. Profits will likewise money meaning drilling and metallurgical test work at the RPM, Alloy Max South and Alloy Max North Zones.

Upgrades to predict gain access to roadways and tracks are anticipated to allow quicker, year-round drilling and a scale-up of expedition activities along the roughly 30-kilometre mineralized pattern, consisting of targets north of Alloy Max towards the historical Atlantic Lake Zone that were formerly obtainable just by helicopter or have actually never ever been completely checked out. In each case, these expenses will be moneyed just to the level they certify as Qualifying Expenditures (as specified listed below).

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

Pipestone XL is First Atlantic’s completely owned, district-scale job covering the whole 30-kilometre Pipestone Ophiolite Complex in main Newfoundland, a belt of ultramafic rock enhanced in nickel, cobalt, and chromium. The Project hosts several zones of awaruite (Ni ₃ Fe) mineralization, consisting of RPM, Alloy Max, Super Gulp, Atlantic Lake, and Chrome Pond. The RPM Zone is the most sophisticated, with drilling having actually detailed magnetically recoverable awaruite over more than 1.2 kilometres of strike and more than 800 metres of width. Drilling is continuous at Alloy Max, a 2nd massive zone covering roughly 4 kilometres of strike and as much as 1.5 kilometres in width, making it bigger than the RPM Zone.

Awaruite at Pipestone XL is the item of serpentinization, which drives sulphur out of the system and leaves a sulphur-free alloy which brings no acid mine drain threat and can be focused by the Company’s ONSHORE MAX ™ procedure without smelting, roasting, or high-pressure acid leaching. This smelter-free path addresses the midstream traffic jam in North America, where the United States has no operating nickel smelters and just 2 stay in Canada, and supports a vertically incorporated supply chain moving straight from my own to downstream battery refining, stainless-steel and specialized alloy production. The Company is likewise examining secondary chromium mineralization as a possible co-product, together with low-carbon Engineered Mineral Hydrogen (EMH) in collaboration with VEMA Hydrogen¹

Figure 1: Map revealing several target zones throughout the 30-kilometer nickel pattern over overall magnetic strength(TMI)at the Pipestone XL Project highlighting the proving, the 30-kilometre Pipestone Ophiolite Complex and the RPM, Alloy Max, Super Gulp, Atlantic Lake and Chrome Pond Zones.

Pipestone XL lies in a recognized facilities passage with year-round roadway gain access to, neighboring high-voltage transmission and tidy hydroelectric power from the Bay d’Espoir producing station. It is likewise situated around 200 kilometres from Gander International Airport and Vale’s Long Harbour nickel processing plant. This positioning lines up with growing U.S. and allied policy concentrate on important mineral supply chains, consisting of nickel’s addition to the U.S. crucial minerals list in 2022, the January 2026 White House pronouncement on processed important minerals²the Company’s approval into the U.S. Defense Industrial Base Consortium³and the June 2026 G7 Leaders’ Declaration calling nickel one of 2 pilot crucial minerals for allied financial investment and offtake⁴

Newfoundland and Labrador is regularly acknowledged as one of the world’s leading mining jurisdictions in the Fraser Institute’s Yearly Survey of Mining Companiesranking 7th worldwide on the Policy Perception Index in the most current study, released in February 2026, and positioning in the international leading 10 for general financial investment beauty in each of the 3 previous studies. Pipestone XL is placed to end up being a safe and secure and dependable North American source of nickel and cobalt for the stainless-steel, electrical lorry, aerospace, and defense markets.

AWARUITE AT PIPESTONE XL: A SMELTER-FREE NICKEL-COBALT ALLOY (Ni ₃ Fe)

Awaruite is a naturally happening, magnetic, sulphur-free nickel-iron-cobalt alloy (Ni ₃ Fe) consisting of roughly 77% nickel. Due to the fact that it currently exists in a metal state, awaruite can be focused without smelting, roasting, or high-pressure acid leaching. Mineralogical and electron microprobe analysis at the Company’s RPM Zone has actually validated the awaruite averages 77.62% nickel and 1.69% cobalt, with grades as high as 86.68% nickel and 6.05% cobalt⁵

Preliminary metallurgical test work utilizing the Company’s ONSHORE MAX ™ (Magnetic Alloy eXtraction) procedure updated rock samples from the job’s RPM Zone into a top-quality alloy concentrate balancing 67.4% nickel and grading as much as 71.9% nickel and 1.76% cobalt⁶Low-intensity magnetic separation initially produced a magnetic concentrate grading roughly 1.6% nickel, which flotation then updated to the last concentrate. By contrast, a common nickel concentrate grades 10% to 15% nickel, according to the Nickel Institute. This concentrate can move straight to downstream battery chemical refining or the manufacture of specialized alloys and stainless-steel.

The lack of sulphur decreases acid mine drain danger and associated allowing obstacles, placing Pipestone XL to provide North American markets consisting of stainless-steel, electrical lorries, aerospace, and defence.

Figure 2: USGS quote on awaruite nickel-iron-cobalt alloy.

The gross profits of the Offering will be utilized to sustain qualified”Canadian expedition expenditures “that certify as “flow-through mining expenses,” as those terms are specified in the Income Tax Act(Canada)( the “Qualifying Expenditures”), in connection with the expedition programs explained above at the Company’s Pipestone XL Nickel-Cobalt Alloy Project and expedition activities at its Ophiolite X Project in Newfoundland. The Company will sustain the Qualifying Expenditures on or before December 31, 2027 and renounce them in favour of customers efficient December 31, 2026.

All securities provided in connection with the Offering go through a statutory hold duration of 4 months and one day, ending on January 26, 2027 and January 29, 2027, under relevant Canadian securities laws. The Offering stays based on last approval by the TSX Venture Exchange.

No finder’s costs were paid in connection with the Offering.

This press release does not make up a deal to offer or a solicitation of a deal to purchase any securities in the United States. The securities have actually not been and will not be signed up under the United States Securities Act of 1933, as modified (the “U.S. Securities Act”), or any suitable state securities laws, and might not be provided or offered within the United States or to U.S. individuals unless signed up under the U.S. Securities Act and appropriate state securities laws, or an exemption from such registration is offered.

FINANCIER INFORMATION

The Company’s typical shares trade on the TSX Venture Exchange under the sign “FAN”on the OTCQB under the sign “FANCF”and on a number of German exchanges, consisting of Frankfurt and Tradegate, under the sign “P210”Financiers can get updates about First Atlantic by registering to get news by means of e-mail and SMS text at www.fanickel.com.

CERTIFIED PERSON

Adrian Smith, P.Geo., a director and the Chief Executive Officer of the Company, is a certified individual as specified by NI 43-101. The certified individual is a member in great standing of the Professional Engineers and Geoscientists Newfoundland and Labrador (PEGNL) and is a signed up expert geoscientist (P.Geo.). Mr. Smith has actually evaluated and authorized the technical info divulged herein.

ABOUT FIRST ATLANTIC NICKEL & & COBALT CORP.

Atlantic Nickel & Cobalt Corp. (TSXV: FAN OTCQB: FANCF|FSE: P210) is a vital mineral expedition business in Newfoundland and Labrador establishing the Pipestone XL Nickel-Cobalt (Ni-Fe-Co) Alloy Project. The job covers the whole 30-kilometre Pipestone Ophiolite Complex, where numerous zones, consisting of RPM, Alloy Max, Super Gulp, Atlantic Lake and Chrome Pond, include awaruite (Ni ₃ Fe), a naturally happening magnetic nickel-iron-cobalt alloy of around 77% nickel without any sulphur and no sulphides, in addition to secondary chromium mineralization. Awaruite’s sulphur-free structure gets rid of acid mine drain threat, while its magnetic homes make it possible for processing through magnetic separation and flotation, getting rid of the electrical energy requirements, emissions and ecological effects of traditional smelting, roasting or high-pressure acid leaching, while decreasing reliance on abroad nickel processing facilities.

The U.S. Geological Survey acknowledged awaruite’s tactical value in its 2012 Annual Report on Nickel, keeping in mind that these deposits might assist reduce extended nickel concentrate scarcities considering that the natural alloy is a lot easier to focus than common nickel sulphide. In 2026, preliminary metallurgical test work utilizing the Company’s ONSHORE MAX ™ (Magnetic Alloy eXtraction) procedure updated RPM Zone product into a top-quality alloy concentrate balancing 67.4% nickel and grading approximately 71.9% nickel and 1.76% cobalt, showing a smelter-free, mine-to-refinery path. Atlantic is a member of the U.S. Defense Industrial Base Consortium. The Company is likewise advancing a parallel geologic hydrogen effort at Pipestone XL, where the exact same serpentinization procedure that formed awaruite likewise creates natural hydrogen, and has actually signed a letter of intent with VEMA Hydrogen to collectively establish low-carbon Engineered Mineral Hydrogen (EMH) through a proposed 50/50 joint endeavor. The Pipestone XL task lies near existing facilities with year-round roadway gain access to and distance to hydroelectric power, supplying beneficial logistics for expedition and future advancement and reinforcing First Atlantic’s function to develop a safe and trusted source of North American nickel and cobalt production for the stainless-steel, electrical automobile, aerospace, and defense markets. This objective acquired value when the U.S. included nickel to its crucial minerals list in 2022, acknowledging it as a non-fuel mineral important to financial and nationwide security with a supply chain susceptible to interruption.

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

Forward looking declarations

Specific details included in this press release makes up “positive info” or “positive declarations” within the significance of appropriate Canadian securities legislation (jointly, “positive details”). Positive details is typically determined by words such as “expects,” “thinks,” “anticipates,” “means,” “strategies,” “may,” “will,” “possible,” and comparable expressions.

Positive details in this press release consists of declarations relating to: last approval of the Offering by the Exchange; the planned usage of earnings; the certification of expenses as Canadian expedition expenditures and flow-through mining expenses, the incurrence of those expenses by December 31, 2027 and their renunciation in favour of customers reliable December 31, 2026; the scope, timing and expected outcomes of expedition and metallurgical programs at the Pipestone XL Nickel-Cobalt Alloy Project and Ophiolite X Project, consisting of district-scale drilling, growth of the RPM Zone and screening of freshly determined targets; the prospective abilities, scalability and advantages of the ONSHORE MAX ™ procedure; the prospective to focus awaruite without smelting, roasting or high-pressure acid seeping; the viability of focuses for downstream refining and the manufacture of battery chemicals, specialized alloys and stainless-steel; possible ecological and allowing advantages; and the capacity for Pipestone XL to provide North American commercial markets.

This positive info is based upon management’s existing expectations and presumptions, consisting of that needed regulative approvals will be gotten; prepared expenses will please suitable tax requirements and be sustained and renounced within the defined timelines; needed licenses, workers, specialists, devices and lab capability will be offered; expedition and metallurgical programs can be finished within expected budget plans and schedules; even more screening will support the applicability of preliminary metallurgical outcomes to representative task product and larger-scale operations; any resulting focuses will satisfy pertinent downstream processing and client requirements; which more ecological research studies will support the expected ecological advantages.

Positive details undergoes threats and unpredictabilities that might trigger real outcomes to vary materially from those revealed or indicated. These consist of failure to acquire regulative approvals or total extra funding; modifications in market conditions, product costs, expenses or the accessibility of funding; failure to sustain adequate certifying expenses within the necessary duration, negative tax decisions or modifications in tax laws or their analysis; expedition results that do not support awaited mineralization or growth targets; geological and metallurgical irregularity; the initial nature of test outcomes and the threat that such outcomes can not be reproduced at bigger scale or accomplished financially; concentrate pollutants, healing constraints or failure to fulfill downstream specs; allowing hold-ups, ecological liabilities and findings that vary from awaited ecological advantages; functional, weather condition, devices, professional and lab hold-ups; and other threats explained in the Company’s constant disclosure filings offered on SEDAR+ at www.sedarplus.ca

Preliminary metallurgical outcomes do not develop business practicality or warranty future healings, focus quality or processing efficiency. There can be no guarantee that the expected expedition, processing, ecological or industrial results will be accomplished.

Management considers its expectations and presumptions sensible as of the date of this news release, positive info is not a warranty of future efficiency. Readers are warned not to put unnecessary dependence on it. Other than as needed by suitable securities laws, the Company carries out no commitment to upgrade positive info to show subsequent occasions, scenarios or modifications in expectations.

¹ 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
² 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
³ 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
⁴ 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-
⁵ 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
⁶ 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

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