Phenom Commences Drill Program at Carlin, Nevada

Rhea-AI Summary

Phenom Resources Corp. mobilizes drilling equipment for Carlin Gold-Vanadium Project in Nevada.

Positive

• Phenom Resources Corp. has mobilized its drilling equipment for the Carlin Gold-Vanadium Project in Nevada. The company plans to test the gold system at depth with a 2000' reverse circulation hole. Previous findings have shown promising results, with near-surface gold of up to 1.4g/t Au in outcrop.

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• None.

Vancouver, British Columbia--(Newsfile Corp. - October 10, 2023) - Phenom Resources Corp. (TSXV: PHNM) (OTCQX: PHNMF) (FSE: 1PY0) ("Phenom" or the "Company") is pleased to announce that yesterday its drill contractor mobilized its drilling equipment to Phenom's 100% owned Carlin Gold-Vanadium Project, located within the Carlin gold trend of Nevada. Drill hole RC23-17, a 2000' planned reverse circulation hole is about to start to test the gold system at depth. The drill site is located where near-surface gold of up to 1.4g/t Au (0.044oz Au/t) in outcrop is considered geochemical "leakage" above the deeper target zone and flanking the confluence of the north-south graben fault and a northwest trending splay fault. North-south and northwest oriented faults are the most significant fault orientations influencing gold mineralization in the Carlin gold trend.

Paul Cowley, President & CEO states, "Minor drill contractor operational delays are behind us. Dave Mathewson and I are excited to drill hole RC23-17 which follows the impressive findings in hole RC22-16 that encountered the best features of the gold system to date; the most intense alteration and gold mineralized (dolomite-silica-pyrite) Popovich limestone starting at a 1680' depth."

About Phenom Resources Corp.
Phenom has 100% interest in the Carlin Gold-Vanadium Project, located in Elko County, 6 miles south from the town of Carlin, Nevada and Highway I-80 which hosts the Carlin Vanadium deposit, North America's largest highest grade primary vanadium resource. The Project lies in the Carlin Gold Trend. Approximately 9 million ounces comprised of multiple gold deposits, including past producing mines, are present near the Phenom property (5-15km).

ON BEHALF OF PHENOM RESOURCES CORP.
per: "Paul Cowley"
CEO & President
(604) 340-7711
pcowley@phenomresources.com  www.phenomresources.com

Technical disclosure in this news release has been reviewed and approved by Paul Cowley, a Qualified Person as defined by National Instrument 43-101, and President, CEO and director of the Company.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-looking information
Certain statements in this news release constitute "forward-looking" statements. These statements relate to future events or the Company's future performance. All such statements involve substantial known and unknown risks, uncertainties and other factors which may cause the actual results to vary from those expressed or implied by such forward-looking statements. Forward-looking statements involve significant risks and uncertainties, they should not be read as guarantees of future performance or results, and they will not necessarily be accurate indications of whether or not such results will be achieved. Actual results could differ materially from those anticipated due to a number of factors and risks. Although the forward-looking statements contained in this news release are based upon what management of the Company believes are reasonable assumptions on the date of this news release, the Company cannot assure investors that actual results will be consistent with these forward-looking statements. The forward-looking statements contained in this press release are made as of the date hereof and the Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required under applicable securities regulations.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/183470

FAQ

What is Phenom Resources Corp. drilling for?

Phenom Resources Corp. is drilling for gold at its Carlin Gold-Vanadium Project in Nevada.

What are the previous findings at the project?

Previous findings have shown near-surface gold of up to 1.4g/t Au in outcrop.

Who is the President & CEO of Phenom Resources Corp.?

The President & CEO of Phenom Resources Corp. is Paul Cowley.

Where is the Carlin Gold-Vanadium Project located?

The Carlin Gold-Vanadium Project is located within the Carlin gold trend of Nevada.