Phenom Reports Historic High-Grade Antimony Mining at King Solomon

Rhea-AI Summary

Phenom Resources reports significant historical high-grade antimony and silver mining findings at its King Solomon Gold Project. Historic grab samples revealed impressive concentrations of up to 38.86% antimony and 55.16 oz/t silver from one vein, while a 4ft wide shear zone showed 1.3% antimony and 2.8 oz/t silver.

The project features two notable veins: a north vein averaging 0.45m wide, traced for 230m, and a southern vein 79m south of it, traced for 75m. Historical production estimates from the Nevada Bureau of Mines indicate between 100-1,000 tonnes of antimony output.

This antimony discovery gains strategic importance as the US government prioritizes critical metals. While Phenom maintains its primary focus on gold exploration, the presence of antimony, a common pathfinder element in Carlin gold systems, may expedite project permitting with regulators.

Positive

• Historic high-grade antimony samples found: 12.57% and 38.86% antimony with 5.8 oz/t and 55.16 oz/t silver
• Project has dual resource potential: antimony (critical metal) and gold (Carlin-type)
• Historic antimony production between 100-1,000 tonnes indicates proven mining viability
• Antimony status as US critical metal may fast-track project permitting
• Multiple mineralized veins identified: North vein (230m length) and Southern vein (75m length)

Negative

• No current production or revenue streams
• Historic data relies on grab samples, not systematic drilling
• Antimony values in 1980-1995 drill holes not fully evaluated due to incomplete historical analysis

Vancouver, British Columbia--(Newsfile Corp. - April 29, 2025) - Phenom Resources Corp. (TSXV: PHNM) (OTCQX: PHNMF) (FSE: 1PY0) ("Phenom" or the "Company") reports its King Solomon Gold Project which is one the Company's strong Carlin-type gold targets was originally mined for high-grade antimony and silver. In light of the attention antimony is getting as an important critical metal for the US, and the US 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% and 38.86% antimony and 5.8 oz/t and 55.16 oz/t silver. A 4ft wide shear zone reported an assay of 1.3% 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 0.45m (1.5 ft) wide, up to 0.9m (3ft) wide, was traced for 230m (756 ft) in a northeast-southwest direction by two 9.1m (30 ft) deep inclined shafts, pits and about 300m (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 crystals lining vugs. Two historic grab samples from this vein returned 12.57% and 38.86% antimony, and 5.8 oz/t and 55.16 oz/t silver. The north-trending 1.22m wide (4ft) subvertical shear zone containing quartz and stibnite veinlets reported an assay of 1.3% antimony and 2.8 oz/t silver. The southern vein which is 79m (260 ft) south of the north vein was traced for 75m (246 ft).

Elevated antimony values are present in some of the 1980-1995 drill holes exploring for gold on King Solomon but was not routinely analyzed in those days so the larger antimony picture at King Solomon has not been evaluated or characterized. Antimony is a common pathfinder element associated with Carlin gold systems. Phenom routinely analyzes for antimony and with its work on King Solomon will report on the extent of antimony in this Carlin-type system. This will not change our focus on gold but be inclusive for antimony and silver.

Dave Mathewson states, "The presence of antimony, in addition to the favorable geology, intrusive centers, etc. were among the criteria that led me to pursue the Monitor Range so vigorously starting in the late 1980's. Both Dobbin and King Solomon in the Monitor Range have notable antimony mineralization."

About Phenom Resources Corp.
Phenom has 100% interest in the Carlin Gold-Vanadium Project, which has a plan of operation permit on the Carlin Vanadium deposit, North America's largest highest grade primary vanadium resource. The Company's Dobbin and King Solomon Gold Projects have drill permit applications in progress.

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

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

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 and include the Company's use of proceeds raised in the Offering. 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. Readers should not place undue reliance on 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/250050

FAQ

What antimony grades were discovered at Phenom's (PHNMF) King Solomon mine?

Historic grab samples from King Solomon mine revealed high-grade antimony concentrations of 12.57% and 38.86%, along with significant silver content of 5.8 oz/t and 55.16 oz/t. A 4ft wide shear zone also showed 1.3% antimony and 2.8 oz/t silver.

How much antimony was historically produced from Phenom's King Solomon Mine?

According to the Nevada Bureau of Mines, the historic production of antimony from the King Solomon Mine was estimated between 100 and 1,000 tonnes.

What are the dimensions of the antimony veins at PHNMF's King Solomon project?

The north vein averages 0.45m (1.5 ft) wide, extends up to 0.9m (3ft), and runs for 230m. The southern vein, located 79m south of the north vein, extends for 75m. A 1.22m wide subvertical shear zone is also present.

How does antimony mineralization relate to Phenom's (PHNMF) gold exploration at King Solomon?

Antimony is a common pathfinder element in Carlin-type gold systems. While Phenom's focus remains on gold, they will now include antimony and silver analysis in their exploration program at King Solomon.

What is the composition of the antimony-bearing north vein at PHNMF's King Solomon?

The north vein consists of clay, quartz, barite, and stibnite (with antimony oxides). Stibnite appears as stringers, blebs, small pods, radiating clusters, and single crystals lining vugs.