First Atlantic Nickel Corp. (TSX-V: FAN) (OTCQB: FANCF) is pleased to announce that it has closed the final tranche of its previously announced non-brokered, no warrant private placement of 21,666,667 common shares in the capital of the Company, as described in the Company’s press release dated February 12, 2026. Following notice from a strategic investor of its anticipated participation pursuant to its top-up rights under an investor rights agreement, the strategic investor participated in the second and final tranche of the LIFE Offering to maintain its ownership interest at up to 9.9% of the Company’s issued and outstanding Common Shares (on a post-closing basis).

The second and final tranche of the LIFE Offering consisted of the issuance of an aggregate of 4,630,058 Common Shares at a price of $0.18 per Common Share for gross proceeds of $833,410.44. No commissions or finder’s fees were paid in connection with the LIFE Offering.

The LIFE Offering resulted in the issuance of a total of 21,666,667 Common Shares for gross proceeds to the Company of $3,900,000.

In connection with the second tranche closing, the Company relied on the listed issuer financing exemption under Part 5A of National Instrument 45-106 – Prospectus Exemptions for the issuance of 4,630,058 Common Shares, which are freely tradeable securities under applicable Canadian securities laws. The Company intends to use the gross proceeds from the Offering to advance the Company’s projects (including Pipestone XL and Ophiolite-X), satisfy related option payment obligations, maintain and manage mineral claims and properties, and for investor relations, general and administrative expenses, and unallocated working capital for the next twelve months, as more fully described in the amended and restated offering document dated February 12, 2026.

The second tranche of the LIFE Offering is subject to the Company receiving all necessary regulatory approvals, including the approval of the TSXV.

The Company intends to use the gross proceeds from the LIFE Offering to advance the Company’s projects (including Pipestone XL and Ophiolite-X), satisfy related option payment obligations, maintain and manage mineral claims and properties, and for investor relations, general and administrative expenses, and unallocated working capital for the next twelve months, as is more fully described in the Offering Document.

This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful, including any of the securities in the United States of America. The securities referred to in this news release have not been, and will not be, registered under the U.S. Securities Act or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons, absent registration or any applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws.

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.

FOR MORE INFORMATION:

First Atlantic Investor Relations

Robert Guzman

Tel: +1 844 592 6337

rob@fanickel.com

About First Atlantic Nickel Corp.

First Atlantic Nickel Corp. is a mineral exploration company focused on the discovery and development of awaruite, a rare, naturally occurring nickel-iron-cobalt alloy, at its 100%-owned Pipestone XL Project in Newfoundland. The project spans the 30-kilometer Pipestone Ophiolite Complex, where multiple zones contain awaruite (nickel-cobalt) mineralization along with secondary chromium. Awaruite’s magnetic properties enable processing through magnetic separation, potentially eliminating the need for conventional smelting or high-pressure acid leaching while reducing dependence on foreign-controlled processing infrastructure.