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 August 27, 2025, As per an announcement on Aug. 13, 2025, for which Phenom Resources Corp. may be a recipient, the U.S. Department of Energy intends to issue notices of grant funding opportunities totalling nearly $1-billion to advance and scale mining, processing and manufacturing technologies across key stages of the critical mineral and material supply chains. Proposed funding will accelerate the growth of the U.S. critical mineral and material sector. Three of the five areas mentioned in the announcement appear relevant to the company's two vanadium projects: the high-grade vanadium-nickel processing project and the Carlin vanadium project. The company plans to submit applications once timing from the DOE is revealed.

These three areas are listed below.

Critical mineral and material accelerator

Mine and metal capacity expansion -- piloting byproduct critical mineral and material recovery at domestic industrial facilities

Battery material processing, battery manufacturing and recycling grant program

On August 06, 2025, Phenom Resources Corp. has released results and plans on its drilling at the company's Crescent Valley gold project about 22 kilometres (13 miles) southwest of Carlin, Nev., strategically located along the southwest fringe of the Carlin gold trend within the prospective northern Nevada rift, Nevada.

The planned three-hole program at Crescent Valley encountered difficult ground conditions on the first hole testing the quartz vein system. In spite of its planned depth of 1,200 to 1,500 feet and driven by persistence to complete to its planned depth because of the attractive opportunity, the hole was terminated at a depth of 830 ft due to very slow penetration rates and unacceptable costs. The company felt it prudent to await assays before drilling resumes. Unfortunately, the first hole did not encounter significant gold mineralization.

Dave Mathewson, company director and geological adviser, stated: "We are not at all deterred. Crescent Valley gold project hosts two exceptional discovery opportunities for us, low-sulphidation, bonanza-vein-type gold opportunities and an iron oxide copper/gold opportunity with appreciable rare earth metals. The two opportunities at Crescent Valley are both excellent and untested. Our enthusiasm remains high. We are resuming the drill program by the end of this month."

On July 29, 2025, Phenom Resources Corp. has released the results of the first-time gold assays from chip sampling of mineralized bedrock within the 2.1-kilometre-long (1.3 miles) and 200-metre-wide (660 feet) gold soil anomaly on its Dobbin gold project. While diligently advancing the permitting process for the first-phase drill program, the company felt compelled to conduct fieldwork to locally expose bedrock and initially characterize grade and continuity for parts of the mineralized system, given the robust nature of the anomaly. Thus, in late June, the company hand-dug seven shallow trenches which exposed bedrock and delivered characteristic gold grades and continuity of a Carlin gold system. Management is pleased to report that a great deal of data were obtained. Assay results are available from three of the seven trenches. Phenom samples four m of 6.34 g/t Au at Dobbin

"This is the first glimpse into the character of mineralization (potential consistency and grade tenor) associated with the large gold soil anomaly with very encouraging results even with this small sampling of a large system," stated Dave Mathewson, director and geological consultant to the company.

Paul Cowley, president, chief executive officer and director of the company, stated: "While I genuinely appreciate our loyal shareholders patience while awaiting permitting to drill, the hand trenching is our best efforts in the meantime to gain hard data on the system, and the results have been very informative. Further hand trenching is expected now we know the soil cover is so thin and gold values are appreciable."

On May 15, 2025, Drilling has commenced on Phenom Resources Corp.'s Crescent Valley gold project, 22 kilometres (13 miles) southwest of Carlin in Nevada. The Crescent Valley gold project represents a high-grade, bonanza-vein gold prospect strategically located within the northern Nevada rift flanking the southwestern 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 per ounce because of its open-pit mined bonanza vein and wall-rock gold grades, which, combined, averaged 0.48 opt Au."

The range-front/margin vein system is a zone of multievent, silica-healed, hydrothermal breccias. Portions of the veins display minor repetitive banding, coarsely bladed calcite and quartz pseudomorphs of the calcite, within larger zones of phreatic-type brecciation that typically represent above-boiling zones of hydrothermal fluids and also above the prospective deposition levels of gold.

On the attempted drilling in October, 2024, the contractor chosen then underperformed, so the program terminated early after two short-hole attempts. It was not until now that the company's preferred drill contractor was available.

On May 06, 2025, Phenom Resources Corp. reported that it now has engaged two senior Carlin-gold specialists that will be dedicated to conduct and supervise field work on the Dobbin and King Solomon Gold Projects, two of the Company's strong Carlin-type gold targets.

Dave Mathewson states, "It is essential for success in Nevada particularly on the type of deposits we are targeting at Phenom to have highly trained, experienced, reliable and successful geologists with vast Carlin-type experience. We have handpicked two geologists who have worked with me in the past, who I have every confidence on identifying the field features both subtle and significant to advance these projects to drill stage."

On April 29, 2025, Phenom Resources Corp.'s King Solomon gold project which is one the company's strong Carlin-type gold targets has been originally mined for high-grade antimony and silver. In light of the attention antimony is getting as an important critical metal for the United States, and the U.S. government's support to advance key antimony projects, it is worth noting the antimony association on the King Solomon project. The historic high-grade antimony mining may favourably influence the project's permitting priority with regulators.

Two historic grab samples from one vein at King Solomon returned 12.57 per cent and 38.86 per cent antimony and 5.8 ounces per ton and 55.16 oz/t silver. A four-foot-wide shear zone reported an assay of 1.3 per cent antimony and 2.8 oz/t silver.

According to Nevada Bureau of Mines, the estimated production of antimony from the King Solomon mine was between 100 and 1,000 tones of antimony. Historic reports describe two veins and a shear zone, all antimony bearing (stibnite and antimony oxides). The north vein which averages 0.45 m (1.5 ft) wide, up to 0.9 m (three ft) wide, was traced for 230 m (756 ft) in a northeast-southwest direction by two 9.1-metre (30-foot)-deep inclined shafts, pits, and about 300 m (1,000 ft) of bulldozer and hand trenching. The north vein is composed of clay, quartz, barite and stibnite (and antimony oxides). Stibnite is present as stringers, blebs, small pods, radiating clusters and single-crystal-lining vugs. Two historic grab samples from this vein returned 12.57 per cent and 38.86 per cent antimony, and 5.8 oz/t and 55.16 oz/t silver. The north-trending 1.22-metre-wide (four-foot) subvertical shear zone containing quartz and stibnite veinlets reported an assay of 1.3 per cent antimony and 2.8 oz/t silver. The southern vein which is 79 m (260 ft) south of the north vein was traced for 75 m (246 ft).

On April 22, 2025, Phenom Resources Corp. has informed shareholders that in under 30 days from President Trump's milestone executive order, "Immediate Measures to Increase American Mineral Production," the first wave of 10 mining and exploration projects have been "identified as transparency projects on the federal permitting dashboard to the permitting council acting executive director. This is just the beginning -- many more projects are expected to be added to the list on a rolling basis over the next few weeks," according to the April 18, 2025, White House announcement.

It further states: "Inclusion on the permitting dashboard as a transparency project makes the environmental review and authorizations schedule for these vital mineral production projects publicly available and allows all of these projects to benefit from increased transparency. The public nature of the dashboard ensures that all stakeholders, from project sponsors and community members to federal agency leaders have up-to-date accounting of where each project stands in the review process. This transparency leads to greater accountability, ensuring a more efficient process. Identifying these transparency projects under the permitting council's statutory program advances the president's directive to take immediate action to facilitate domestic production of America's vast mineral resources to create jobs, fuel prosperity and significantly reduce our reliance on foreign nations."

On March 25, 2025, Phenom Resources Corp. has informed shareholders of a milestone executive order signed by President Trump last week that recognizes the importance of mining to the nation, "once the world's largest producer of lucrative minerals," and recognizes that "overbearing federal regulation has eroded its mineral production." It is important to note that President Trump is taking swift action on the industry's issues early on in his administration, which will only improve the mineral sector with the commitment and actions. The executive order is the first decisive step in "taking immediate action to facilitate domestic mineral production to the maximum possible extent" that "can create jobs, fuel prosperity and significantly reduce our reliance on foreign nations."

Among many points, the executive order sets out timely 10- to 30-day co-ordinated action plans for the chair of the National Energy Dominance Council, secretary of defence, the secretary of the interior, the secretary of agriculture and the secretary of energy to advance mineral projects to production. The executive order applies to a pipeline of mineral production projects for which a plan of operations, a permit application or other application for approval has been submitted.

Most relevant to the company is the executive order's earnest move "to solicit industry feedback on regulatory bottlenecks and other recommended strategies for expediting domestic mineral production" that can be acted upon to the needed pipeline of high-quality mineral exploration projects for healthy sustained mineral production. The company will vigorously provide inputs to this solicitation, which could result in swifter drilling on its Dobbin and King Solomon gold projects.

On March 24, 2025, Phenom Resources Corp. completed the private placement

Financing type: non-brokered private placement

Gross proceeds: $1,985,000

Offering: 7.94 million listed shares with 7.94 million warrants

Offering price: 25 cents per listed share

Warrant exercise terms: 35 cents per listed share for a three-year period

On March 14, 2025, Phenom Resources Corp. has closed the third and final tranche of its oversubscribed non-brokered private placement previously announced on Jan. 31, as updated Feb. 4, 2025. In this third tranche, the company issued 962,000 units at a price of 25 cents/unit for gross proceeds of $240,500. In connection with the third tranche of the offering, the company paid a total of $3,000.00 in finders' fees. Aggregate proceeds from all three tranches raised a total of $1,985,000 by the issuance of a total of 7.94 million units. A total of $11,325.00 cash was paid in finders' fees for the entire offering.

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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