09:14 AM EST, 11/03/2025 (MT Newswires) -- First Atlantic Nickel ( FANCF ) on Monday announced visual drilling results from Phase 2X holes AN-25-09 and AN-25-10 at the RPM Zone within its Pipestone XL Nickel Alloy Project in central Newfoundland.

According to a statement, Phase 2X drilling continues to expand the lateral width of awaruite mineralization within the newly defined 4-kilometer strike length target area announced October 21, 2025. It said Hole AN-25-10 returned 233 meters of strong, visually disseminated, large-grain awaruite mineralization on Section S1, extending the zone 200 meters east from the company's best magnetically recoverable nickel (DTR Ni %) results to date (hole AN-24-04, with 0.14% magnetically recoverable nickel over 366 meters), while Hole AN-25-09 intersected 480 meters of visible awaruite on Section S3, extending the zone's lateral width westward toward Pipestone Pond.

Monday's statement said the Phase 2X drilling program has successfully expanded the RPM Zone to significant lateral widths across multiple sections within the 4-kilometer target area. It noted Sections S1 and S2 now show continuous awaruite mineralization over approximately 750 meters in lateral width, while Section S3, located 800 meters north of the original discovery drilling, has been expanded to 500 meters with Hole AN-25-09. All sections show continuous mineralization that remains open for expansion. Monday's statement also noted Hole AN-25-10 was halted at 233 meters after encountering a clay-filled fault zone within intersections containing abundant magnetite, an encouraging indicator, as awaruite commonly forms alongside magnetite during serpentinization. This confirms that the eastern extension toward Chrome Pond remains a high-priority target for follow-up drilling, it said.

FAN said these results continue to demonstrate the systematic expansion of the RPM Zone through Phase 2X drilling. To date, approximately 3 kilometers of drill core have returned positive magnetically recoverable nickel (DTR Ni) results, averaging 1.30% nickel in magnetic concentrate with a 9.12% mass pull, yielding 0.12% DTR nickel.

The Phase 2X program will be expanded with additional drilling east of Hole AN-25-10 on Section S1 and north of Holes AN-25-08 and AN-25-09 on Line S3, it added.