Phenom Resources Corp.

Company Data | Introduction | Projects in Hand | Management
News Update | Chinese

Company Data

Introduction

Phenom Resources Corp. is a growing Nevada-focused Tier 1 gold and green energy explorer and technology company with dedicated accomplished team. Phenom has 100-per-cent interest in the Carlin gold-vanadium project, located in Elko County, Nevada. The Carlin gold-vanadium project hosts the Carlin vanadium deposit, North America's largest highest-grade primary vanadium resource.

The Project lies within the prolific Carlin Gold Trend. Approximately 9 million ounces comprised of multiple gold deposits, including past producing mines, are present near the Phenom property (5-15km).

The Company has options on three additional gold projects in Nevada: the King Solomon and Dobbin Properties which are Carlin Gold-type targets and the Crescent Valley Property, a Bonanza high grade gold vein-type target.

Investment Highlights

• Nevada focused and growing: 7 years dedicated to flagship project and growing portfolio – Tier 1 secure and reliable mining jurisdiction
• Phenom's Assets: Diversified 2 commodity portfolios (gold and green energy metal) with proprietary mineral processing technology; timely spin-out opportunity
• Phenom's People: Driven, highly experienced and successful Canadian and American professional discoverers and technology specialists; developed 3 patents for vanadium-nickel extraction
• Gold: Four high-quality regional scale gold projects in strategic gold trends – Carlin, King Solomon & Dobbin (Carlin-type) and Crescent Valley (Bonanza-type) hand-picked by renowned & proven mine finder Dave Mathewson
• Green Energy Metal: Owns North America's largest, highest grade primary vanadium resource at PEA stage, strategic for US Homeland security and growing large-scale battery deployment; 5% equity interest in MK Plus (Japanese solid-state vanadium battery corp.)
• Near-term Goal: make a Carlin-style high-grade gold deposit discovery
• Mid-term Goal: become leading USA supplier of vanadium to emerging USA large energy storage market

EXPLORATIONS

Flagship Carlin Gold-Vanadium Project, Nevada

The Carlin gold-vanadium project is located 6 miles south of the town of Carlin, Nevada, and within the Carlin Gold Trend, Nevada's most prolific gold mining trend, dominated by majors including Barrick and Newmont. The Project possesses strong infrastructure being only 6 miles by road to a major highway, rail hub, power and skilled mining work force.

Large-scale Carlin-style gold system below a PEA (Preliminary Economic Assessment)-stage vanadium resource in Carlin Gold Trend.

Best Site Conditions

• Vanadium Mineral Resource – Feb 2019 (80% Indicated)
• Indicated Resource: 303M lbs V2O5 (vanadium pentoxide) (24.64M tons grading 0.615% V2O5) and
• Inferred Resource: 75M lbs V2O5 (7.19M tons grading 0.520% V2O5)
• Large deposit – 35m (120ft) thick x 1,800m (6,000ft) long x 600m (2,000ft) wide
• High Vanadium grades – thick intercepts up to 1.5% V2O5
• Flat to shallow dipping
• Near surface (0-60m; 0-200ft) amenable to open pit mining
• Metallurgical flow sheet: 80% average vanadium recovery

The Company's May 2020 PEA (preliminary economic assessment) was done below the current price, at US$10.65 per pound. Vanadium prices are anticipated to rise with the short supply and increased demand in large capacity batteries for solar and wind farms.

• Multi $Billion Stationary battery market is predicted to grow between 10 and 30X by the end of this decade
• Will be double the size of EV market in 10 years, needing twice the current global production of vanadium
• The US wants to be a leader in this development – feedstock to battery
• US Federal government is investing billions to secure its own battery supply chains
• Vanadium is a STRATEGIC mineral for USA Homeland Security – Main producers are China, Russia and South Africa

Large Gold System Below Vanadium Resource – Analogous to Gold Quarry Deposit Setting

• Similar stratigraphy to Gold Quarry Pit 13 miles NW on Carlin Gold Trend
• Induced polarization (IP) chargeability shows system over 6.4km long, up to 1.3km wide
• PHNM controls 2 square miles of system
• 18 drill holes provides architecture of gold system
• Now vectoring within the large system for high-grade feeders

King Solomon Gold Project

Carlin-type Gold Target

• Near-surface target in Paleozoic carbonate package including highly altered Roberts Mountains Formation
• Surface samples up to 8.4 g/t Au from jasperoid within 3m x 3km area of gold-in-soil anomaly with pathfinder minerals (Au-Ag-As-Sb-Ba-Hg-Tl)
• Previous explorers focused with shallow drilling in overlying volcanics which do host shallow gold intercepts (ex. 67.1m at 0.5 g/t Au) – 113 shallow drill holes to date
• Gold in volcanics indicates a bigger gold system in underlying carbonate package (ex. carbonate intercept 80.8 m at 0.8 g/t Au – ended in mineralization)
• Drilling planned 2024

Dobbin Gold Project

Carlin-type Gold Target

• Near-surface target in Roberts Mountains Formation exposed and highly altered
• Roberts Mountain Formation is Nevada's best rock hosts for Carlin-type gold deposits
• Large area of 1-3 g/t Au in soils within host
• Previously explored by Newmont in late 1980's but abruptly stopped when a Wilderness Study Area was declared – since then Study Area reduced in size and open for staking – optioned in September 2023
• Drilling planned 2024

Crescent Valley Gold Project

Bonanza-type epithermal Gold Target

• Along the southwest fringe of the Carlin Gold Trend
• Largest exposed quartz vein system in Nevada – 4km long
• Low-sulphidation bonanza vein epithermal gold opportunity
• Setting remarkably similar to that of the Sleeper gold deposit in Nevada – was considered the lowest cost producer in the world in 1988 at $103/oz averaged 0.48 opt Au
• Induced Polarization (IP) in progress – Drilling planned for 2024

Management

Management, Directors and Advisors

Paul Cowley, P.Geo., President & CEO

Over 40 years experience in technical and managerial positions exploring for gold, base metals, diamonds, industrial minerals and coal

Extensive experience in a major company setting based in Canada and South America (18 years with BHP Minerals). Projects include the Escondida world-class copper mine in Chile, Country Manager for Bolivia, and the Ekati diamond mine and the Slave gold project in the Canadian arctic

As manager of the Slave Gold Project, his team discovered and advanced 4 significant gold deposits (over 6 million ounces of gold)

Rebecca Moriarty, B.Sc., CA, Chief Financial Officer

Since 2011, she has worked as a Senior Consultant with Malaspina Consultants Inc.

Michael Mracek, P.Eng., Director and Mining Advisor

Since 2011, he has provided consulting to firms such as SRK and SNC-Lavalin, advising on various studies, including feasibilities

Dave Mathewson, M.Sc., Director and Geological Advisor

An authority on Carlin Gold Trend, vigorously exploring for over 15 years with Newmont and Gold Standard Ventures (GSV)

• Found over 5M oz Au within 10 km of Phenom's property
• Neighboring GSV (5 km away) reached a market cap of $1 Billion from gold deposits he found and acquired for GSV

John Anderson, BA, Director

Co-founder of Aquastone Capital Advisors LP

Over 15 years' experience in the capital markets

Dr. David Dreisinger, PhD, Metallurgical Advisor

Jacques McMullen, P.Eng., Metallurgical Advisor

Doug Dreisinger, P.Eng., Business Development Advisor

News Update

On March 04, 2025, Phenom Resources Corp. has closed on a second tranche of its non-brokered private placement previously announced on Jan. 31, 2025, as updated Feb. 4, 2025. In this second tranche, the company issued 500,000 units at a price of 25 cents per unit for gross proceeds of $125,000. In connection with the second tranche, the company paid a total of $875 as finders' fees.

Each unit comprises one common share in the capital of the company and one transferable share purchase warrant of the company, whereby each warrant entitles the holder thereof to purchase one additional share at an exercise price of 35 cents at any time before 5 p.m. PT on March 3, 2028, being the third anniversary of the date of issuance.

On February 13, 2025, Phenom Resources Corp. has closed on a first tranche of its non-brokered private placement, previously announced on Jan. 31, as updated Feb. 4, 2025. In this first tranche, the company has issued 6,478,000 units at a price of 25 cents per unit for gross proceeds of $1,619,500. In connection with the first tranche, the company paid a total of $7,450 as finders' fees.

On February 04, 2025, Further to Phenom Resources Corp.'s news release of Jan. 31, 2025, it has received overwhelming interest above the previously announced non-brokered private placement offering of up to $1.5-million (including the overallotments option). Accordingly, the company is increasing this offering such that it now proposes to sell up to 7.4 million units at a price of 25 cents/unit to raise total gross proceeds of up to $1.85-million. The company also retains an approximately 10-per-cent overallotment option which will permit it to issue up to an additional 740,000 units for up to an additional $185,000 if circumstances warrant at the time of closing.

On January 31, 2025, Phenom Resources Corp. announced that it proposes to undertake a non-brokered private placement of up to 5,400,000 units (the "Units") at a price of $0.25/Unit to raise total gross proceeds of up to $1,350,000 (the "Offering"). Each Unit will be comprised of one common share and one warrant. Each whole warrant will entitle the holder thereof to purchase one common share for a period of 3 years at a price of $0.35. The Company also retains an approximately 11% over-allotment option which will permit it to issue up to an additional 600,000 Units for up to an additional $150,000 if circumstances warrant at the time of closing.

The gross proceeds received from the sale of the Units will be used for work programs on the Company's exploration properties and for general working capital.

On January 15, 2025, New soil sampling results received by Phenom Resources Corp., with previously reported soil results, and geologic mapping together have further defined a mineral system characteristic of a Carlin-type gold deposit. The system anomaly is now at least 2.1 kilometres long (1.3 miles) and 200 metres (660 feet) or more wide.

Dave Mathewson, company director and geological adviser, states, "This is a sizable significant Carlin-style gold system that has potential of multiple associated gold deposits and in my view represents one of the best undrilled gold prospects in Nevada, if not the best."

The recently completed soil sampling program focused on a 600-metre-by-200-metre (1,980-foot-by- 660-foot) area with the objective of extending the length of gold system to the southwest from previous sampling. The new soil and mapping results successfully demonstrated continuity of the gold system for an impressive plus 2.1 kilometres long and the strength and quality of system by virtue of the strength of values and persistent distribution of gold and associated pathfinder elements.

On December 19, 2024, Internal company research, development initiatives and organic market interest have driven Phenom Resources Corp. to create milestone progress on a potential high-grade vanadium-nickel processing project in 2024.

The company's technical team of metallurgists has been working on metallurgical breakthroughs focused specifically on high vanadium recoveries of various feed material. The company has filed three U.S. patent applications regarding unique and potentially substantial vanadium processing opportunities. This update is focused on developments mainly pertaining to the company's May 17, 2024, announcement that it had filed a patent application in the United States on a process to uniquely extract vanadium and nickel from petroleum coke fly ash material.

Paul Cowley, president and chief executive officer of Phenom, stated, "The company is very excited regarding the potential in what it sees as a high reward opportunity, and is weighing its various options to proceed and unlock value for Phenom shareholders."

Paramount to proceeding down this path will be to minimize Phenom's capital risk by bringing in strategic partners, obtaining Department of Energy grant applications, negotiating off-take agreement cash components, and receiving U.S. tax credits through the Inflation Reduction Law or similar-type legislation that may be in effect at the time of production, to name a few sources. To date, the company's efforts have been progressing at minimal costs so as not to distract from the company's focus on its gold portfolio endeavours in Nevada.

On December 06, 2024, Phenom Resources Corp. has released details of its coming annual general meeting and the availability of proxy-related materials. The company has met all the conditions outlined in, and complied with Coordinated Blanket Order 51-931 -- Temporary Exemption from requirements in National Instrument 51-102 -- Continuous Disclosure Requirements and National Instrument 54-101 -- Communication with Beneficial Owners of Securities of a Reporting Issuer to send certain proxy-related materials during a postal strike. As permitted under the order, the company is relying on the exemption from the requirement to send certain proxy-related materials during a postal strike.

On November 13, 2024, Phenom Resources Corp. has provided an update on the developments of the Dobbin gold soil anomaly last reported Oct. 9, 2024. Prospecting and mapping had identified a 600-metre-long-by-200-metre-wide (2,000-foot-long-by-650-foot-wide) trend of similar alteration (significant veining and jasperoid), which was interpreted to be a faulted-off southwestern extension of the gold anomaly. Soil results from this new segment have been received with some positive results in gold and pathfinder elements that only partially defines the southwestern extension of the gold trend. Crews were dispatched yesterday to expand the soil grid to cover a 550-metre-by-200-metre (1,800-foot-by-650-foot) gap over the suspected remainder of the anomaly. Collective results will be reported once received.

The gold soil anomaly is at least 1.3 kilometres (4,300 feet) in length, with the potential to extend its length with new soil sampling under way. The anomalous gold zone is interpreted to be controlled by northeast-trending structures presumed to be subvertical, cutting through gently dipping Roberts Mountains formation carbonates, an important host for many Carlin-type gold deposits in central and northern Nevada.

On October 31, 2024, Private Japanese battery company MK Plus Co. Ltd. has achieved a milestone by securing $50-million (U.S.) of funding which will position it to build its first pilot plant in Japan for its vanadium solid-state batteries and advance its revolutionary fast charging low-cost vanadium battery business world-wide.

Phenom Resources Corp. owns a 5-per-cent equity interest in MK Plus.

Paul Cowley, president and chief executive officer of Phenom, states: "We congratulate MP Plus in securing this funding which will propel its business. Phenom shareholders will benefit from our equity interest in MK Plus as MK Plus grows and succeeds. It is exciting to have a broader position of the growing battery chain future."

On October 23, 2024, Drilling has commenced on Phenom Resources Corp.'s Crescent Valley gold project, 22 kilometres (13 miles) southwest of Carlin, Nev. The Crescent Valley gold project represents a high-grade, bonanza-vein gold prospect strategically located within the Northern Nevada rift flanking the southwest fringe of the Carlin gold trend in Northern Nevada.

Dave Mathewson, director and geological adviser to the company, states: "The Crescent Valley project represents the core portion of the largest quartz vein system in Nevada that I am aware of. The project has a setting remarkably similar to that of the Sleeper deposit located in Humboldt county, Nevada. The Sleeper mine was a high-grade gold mine operated by AMAX Gold from 1986 to 1996 and was considered the lowest-cost gold producer in the world in 1988 at $103/oz because of its open pit mined Bonanza vein and wall-rock gold grades which, combined, averaged 0.48 opt Au."

On October 09, 2024, Phenom Resources Corp. has provided an update on this recent round of soil results from sampling, the objective of which has been to expand the length of the strong, northeast-trending Dobbin soil anomaly initially reported Sept. 4, 2024. The Dobbin gold project lies 80 kilometres (49 miles) southwest of Eureka in central Nevada. New soil sampling results extend the gold anomaly from 900 metres (3,000 feet) to 1.3 kilometres (4,300 feet) in length. A large number of gold values in the anomaly assay between greater than 0.1 gram per tonne gold up to 2.73 grams per tonne gold (approximately 0.09 ounces per ton). The system footprint may be larger still.

Prospecting and mapping have identified a 600-metre-long-by-200-metre-wide (2,000-foot-long-by-650-foot-wide) trend of similar alteration (significant veining and jasperoid), which is interpreted to be a faulted-off southwestern extension of the gold anomaly. Soil sampling has been completed over this new segment. Assays are anticipated in two weeks.

The anomalous gold zone and southwestern extension are interpreted to be controlled by northeast-trending structures presumed to be subvertical, cutting through gently dipping Roberts Mountains formation carbonates, an important host for many Carlin-type gold deposits in central and northern Nevada.

On September 25, 2024, Phenom Resources Corp. to drill Crescent Valley Gold project in October. Permits and drill contractors are in place for a mid October start to the initial drilling campaign on Phenom Resources Corp.'s Crescent Valley gold project. The drill program follows positive results from an IP geophysical survey completed in August. The Crescent Valley gold project represents a high-grade, bonanza-vein gold prospect strategically located within the Northern Nevada rift flanking the southwest fringe of the Carlin gold trend in Northern Nevada.

Dave Mathewson, director and geological adviser to the company, states: "The Crescent Valley project represents the core portion of the largest quartz vein system in Nevada that I am aware of. The project is a low-sulphidation bonanza-vein epithermal gold opportunity with a setting remarkably similar to that of the Sleeper deposit located in Humboldt county, Nevada. The Sleeper mine was a high-grade gold mine operated by AMAX Gold from 1986 to 1996 and was considered the lowest-cost gold producer in the world in 1988 at $103/oz because of its open pit mined Bonanza vein and wall-rock gold grades which, combined, averaged 0.48 opt Au."

On September 11, 2024, Phenom Resources Corp. has released historic drill hole results from its recently optioned King Solomon gold project in central Nevada, 120 kilometres (75 miles) southwest of Eureka, Nev., and 38 km (24 miles) southwest for the company's Dobbin gold project. Over that last year, Dave Mathewson, company director and geological adviser, has deliberately and purposefully guided Phenom to build up a gold portfolio rivalled by few in Nevada with the acquisitions of the Crescent Valley, Dobbin and King Solomon gold projects.

Like Dobbin, with its recent news of its significant open-ended 900-metre-times-220-metre gold-in-soil anomaly, the King Solomon project covers a regional-scale Carlin-type gold system. To demonstrate the calibre of the King Solomon gold project, the company wishes to provide the attached table, highlighting 11 historic drill holes on King Solomon within an area 425 metres (m) by 250 m (1,400 feet (ft) times 820 ft). Of note are the shallow attractive and consistent thicknesses and grades to the intercepts. Nine of the 11 holes have intercepts starting less than 46 metres (150 ft) from surface and nine of the 11 holes ended in mineralization within the better host rock unit, the Paleozoic carbonates, demonstrating the open opportunity at depth.

Mr. Mathewson, accomplished gold finder, states: "There is excellent potential for discovery of significant Carlin-type gold deposits at King Solomon. Previous explorers appear to not have understood the full extent of and significance of the stratigraphy or gold model. Typical of earlier 1990s explorers, drilling was largely limited to shallow tests of 90 m to 122 m deep (300 to 400 feet) and was primarily focused on the potential within the overlying Tertiary volcanic rocks. Significant near surface gold intercepts within Tertiary volcanics which, noteworthy as they are, suggest a bigger potential within the underlying more permissive Paleozoic carbonate package. Earlier explorers barely penetrated into the more prospective rock units and only scratched the surface of this prospect. The carbonate sequence below the volcanics at King Solomon which I have identified include favourable gold host rock formations such as the Denay, Rabbit Hill, Roberts Mountain and Pogonip limestone formations, with a collective thickness well in excess of 1,000 feet. These rock units represent a very significant potential host package to gold deposits that have not been significantly drill tested here."

Mr. Mathewson continues: "Drilling to date has confirmed the Carlin-replacement-style of mineralization and intercepts have approached desirable gold grades. The presence of permissive host rocks, Carlin-style epithermal-style alteration and geochemistry of up to very high levels of arsenic, antimony, mercury and locally gold, all indicate gold deposit prospectivity. I lean strongly toward believing the existence of one or more gold deposits are present in the area."

September 4, 2024, Phenom Reports Strong Gold Results from its Dobbin Gold Project in Nevada. Phenom has identified a strong 900 metre (approx. 3,000 ft) long by 220 metre (approx. 720 ft) wide gold in soils anomaly with a large number of values between >0.1 g/t Au up to 2.73 g/t Au (approx. 0.09 oz/ton) on the Dobbin Gold Project.

https://phenomresources.com/index.php/news/2024/656-henomeportstrongoldesultsfromitsobbinoldro20240904

August 1, 2024, Phenom Retains MarketSmart Communications Inc. for Investor Relations Services

https://phenomresources.com/index.php/news/2024/655-henometainsarketmartommunications20240801

July 9, 2024, Phenom Reports Project and Corporate Progress

https://www.phenomresources.com/index.php/news/2024/654-henomeportsrojectandorporaterogress20240709

June 21, 2024, Phenom Announces $1.24M Closing of Over-Subscribed Non-Brokered Private Placement Financing

https://www.phenomresources.com/index.php/news/2024/653-henomnnounces124losingofverubscribedonrok20240621

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