First Atlantic Nickel
Securing North America’s Nickel Future

First Atlantic Nickel Corp. is unlocking North America’s significant sources of high-grade nickel with the potential to reshape the global supply chain. The North American exploration company is developing the Pipestone XL Nickel Alloy Project in Newfoundland along a 30-kilometer belt of ultramafic rocks rich in metallic awaruite, a naturally occurring nickel-iron-cobalt alloy with up to 77 percent nickel content.

Unlike conventional nickel sulfide or laterite ores that require energy-intensive smelting or toxic acid leaching for extraction, awaruite can be concentrated through simple magnetic separation. Magnetic processing uses only a fraction of the electricity as smelting without the toxic emissions. Its sulfur-free composition also eliminates the risks of acid mine drainage and the associated permitting challenges. The simplified production delivers a cleaner and more reliable source of nickel, marking a step forward in fortifying domestic supply chains.

“Our goal is to provide a clean, secure and reliable supply of nickel right here in North America,” says Adrian Smith, CEO.

Demand for nickel continues to rise as the U.S. and Europe ramp up and reshore manufacturing, particularly for stainless steel and electric vehicle batteries. The U.S. lacks nickel smelters, and Canadian facilities operate near full capacity. Building new plants requires substantial resources and presents complex environmental permitting challenges.

The global nickel supply, dominated by China, relies on energy-intensive operations that contaminate water and soil quality. Acidic waste pollutes water, harming agriculture, drinking water quality and aquatic life. The operations are primarily powered by coal-fired electricity, resulting in substantial emissions. Overseas producers also influence pricing and destabilize markets. These factors underscore the strategic importance of maintaining independent nickel sources outside countries like China that dominate the market.

First Atlantic Nickel addresses these challenges by providing a secure North American source of high-grade nickel product, with deep sea port access to supply to the U.S., Canada, and Europe.

The ultramafic rocks at the Pipestone XL Nickel Alloy Project are part of an ophiolite, representing ancient ocean floor that was pushed onto land during the Appalachian mountain-building process. These formations contain substantial concentrations of nickel, chromium and iron, forming a continuous magnetic high approximately 30 kilometers in length. Unlike deep-sea mining, these nickel deposits are accessible directly at the surface, allowing drilling and exploration work to uncover and develop the resource.

Extraction from the ultramafic host rock can yield a high-grade concentrate of up to 65% nickel with cobalt as a byproduct. Metallurgical testing (DTR - Davis Tube Recovery) confirms that simple magnetic separation and flotation are effective processes for creating a high-grade nickel concentrate from the awaruite at First Atlantic Nickel’s Pipestone XL Project.

First Atlantic Nickel’s project success is driven by Newfoundland’s ranking among the top ten mining jurisdictions globally. A supportive government and faster permitting timelines have been instrumental in advancing exploration and development. The region has a proven capacity for nickel mining and processing, with an abundance of clean, carbon-free hydro power. Local communities also support mining due to the economic benefits and job creation it provides.

The scale of First Atlantic Nickel’s project makes it one of the largest of its kind in North America. The ultramafic rocks, primarily nickel-bearing serpentinized peridotites, are also among the most prospective rocks in the world for geologic hydrogen. Researchers from the Colorado School of Mines, with funding from the U.S. government, are conducting intensive studies. These rocks are similar to other major hydrogen discoveries in ophiolites, including the Samail ophiolite in Oman and the Bulqizë ophiolite in Albania, making the project well-suited for further investigation.

With one of the largest and rarest nickel alloy discoveries of awaruite in North America in decades, First Atlantic Nickel trades under the ticker symbols FANCF in the U.S. and FAN in Canada.

Aiming to deliver high-grade nickel efficiently and sustainably, First Atlantic Nickel is establishing a self-reliant nickel industry supporting North America’s industrial and clean energy growth.