07:57 AM EDT, 09/24/2025 (MT Newswires) -- First Atlantic Nickel ( FANCF ) , which rose near 10% Tuesday, said it renamed its flagship Atlantic Nickel Project to "Pipestone XL", to reflect its 100% ownership of the entire 30-kilometer Pipestone Ophiolite Ultramafic Complex.

The company, Wednesday said the new name "emphasizes the district-scale potential of the project," which hosts multiple zones of awaruite (Ni3Fe) nickel alloy mineralization. It added that the RPM Phase 2 drilling program will now be referred to as "Phase 2X", as the company aims to double (2X) both the strike length and expand the width of awaruite mineralization established during the Phase 1 drill program at the RPM Zone.

According to First Atlantic Nickel ( FANCF ), the Pipestone XL name also highlights the project's clean energy potential, including ongoing geologic hydrogen research in partnership with Colorado School of Mines announced March 19.

"As nickel demand grows to support batteries, stainless steel and future technologies, Pipestone XL is well positioned to become a crucial North American source of this essential metal," said First Atlantic chief executive Adrian Smith. "Our awaruite's unique magnetic properties enable direct concentration without traditional smelting, offering a cleaner, more sustainable pathway to supply the industries and infrastructure that power our modern economy."

Shares of the company closed up $0.015 to $0.175 on the TSX Venture Exchange Tuesday.