First Atlantic Nickel changes name to include cobalt

First Atlantic Nickel Corp. (TSXV: FAN) announced it will change its name to First Atlantic Nickel & Cobalt Corp., effective April 29, 2026, pending final acceptance by the TSX Venture Exchange.

The company stated the name change reflects the natural cobalt content of awaruite, a nickel-iron-cobalt alloy mineral found at its Pipestone XL project in Newfoundland. According to the company, awaruite contains approximately 77% nickel, 21% iron, and 1-2% cobalt.

First Atlantic will participate in the SAFE Summit 2026 in Washington, DC, taking place April 27-28, 2026. SAFE is an organization focused on transportation, energy, and supply chain policies for U.S. economic and national security.

The company reported that awaruite is naturally magnetic and occurs in a reduced metallic state, which may allow for magnetic separation to recover both nickel and cobalt in a single concentrate. This could potentially avoid conventional smelting, roasting, and high-pressure acid leach processes typically required for nickel and cobalt processing.

The Pipestone XL project spans a 30-kilometer complex where the company has identified multiple zones containing awaruite mineralization, including the RPM Zone and the Alloy Max Zone. The company stated that drilling at RPM has maintained a 100% success rate, with every drill hole intersecting visible awaruite mineralization.

First Atlantic announced in March 2026 its acceptance into the U.S. Defense Industrial Base Consortium. The company noted that nickel and cobalt are listed on the U.S. Geological Survey's Final 2025 List of Critical Minerals and are designated as critical materials under various U.S. and Canadian programs.

The name change will not affect shareholder rights or require certificate exchanges. The company will receive new CUSIP and ISIN numbers but will maintain its current trading symbols.

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