Phenom Reports on Up-and-Coming Relevant Grant Opportunities Through U.S. Department of Energy

Rhea-AI Summary

Phenom Resources (OTCQX: PHNMF) reports on three relevant U.S. Department of Energy (DOE) grant opportunities totaling nearly $1 billion to advance critical minerals and materials supply chains. The opportunities align with Phenom's vanadium projects: High-grade Vanadium-Nickel Processing Project and Carlin Vanadium Project.

The three relevant funding areas include: Critical Minerals and Materials Accelerator ($50M), Mines & Metals Capacity Expansion ($250M) for byproduct mineral recovery, and Battery Materials Processing and Manufacturing ($500M) for expanding U.S. critical mineral processing and battery manufacturing. Phenom plans to submit applications once the DOE reveals timing.

Positive

• Potential access to significant government funding opportunities totaling nearly $1 billion
• Company's vanadium projects align with three major DOE funding initiatives
• Opportunity to accelerate development through government support

Negative

• Funding is not guaranteed and depends on successful application process
• Timing of application submission remains uncertain pending DOE announcement

Vancouver, British Columbia--(Newsfile Corp. - August 27, 2025) - Phenom Resources Corp. (TSXV: PHNM) (OTCQX: PHNMF) (FSE: 1PY0) ("Phenom" or the "Company") is pleased to share that the U.S. Department of Energy announced August 13, 2025 on its intent to issue notices of grant funding opportunities totaling nearly $1 billion to advance and scale mining, processing, and manufacturing technologies across key stages of the critical minerals and materials supply chains. Proposed funding will accelerate the growth of the U.S. critical minerals and materials 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 Minerals and Materials Accelerator 

The Advanced Materials and Manufacturing Technologies Office expects to release a Notice of Funding Opportunity (NOFO) of up to $50 million early this fall through the Critical Minerals and Materials (CMM) Accelerator program. The CMM Accelerator promotes technology maturation that can unlock capital investments and facilitate domestic commercialization.

Mines & Metals Capacity Expansion – Piloting Byproduct Critical Minerals and Materials Recovery at Domestic Industrial Facilities

The Office of Fossil Energy and Carbon Management is announcing its intent to issue a NOFO to support approximately $250 million of financial assistance for American industrial facilities that have the potential to produce valuable mineral byproducts from existing industrial processes.

Battery Materials Processing and Battery Manufacturing and Recycling Grant Program

The Office of Manufacturing and Energy Supply Chains is announcing its intent to issue a NOFO of up to $500 million to expand U.S. critical mineral and materials processing and derivative battery manufacturing and recycling. The proposed funding opportunity supports demonstration and/or commercial facilities processing, recycling, or utilizing for manufacturing critical materials which may include traditional battery minerals such as lithium, graphite, nickel, copper, aluminum, as well as other minerals that are contained within commercially available batteries, such as rare earth elements.

About Phenom Resources Corp.

Phenom has a 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. The property lies in the southern parts of Carlin Gold Trend. The Carlin Gold-Vanadium Project hosts the Carlin Vanadium deposit, the largest highest grade primary vanadium deposit in North America.

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

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/264039

FAQ

What DOE grant opportunities is Phenom Resources (PHNMF) eligible for in 2025?

Phenom is eligible for three DOE grants: $50M Critical Minerals Accelerator, $250M Mines & Metals Capacity Expansion, and $500M Battery Materials Processing programs.

How much total funding is available through the DOE grants Phenom Resources is pursuing?

The total funding opportunity across the three relevant DOE programs amounts to nearly $1 billion.

Which Phenom Resources projects could benefit from the DOE funding?

The funding could benefit Phenom's High-grade Vanadium-Nickel Processing Project and the Carlin Vanadium Project.

When will Phenom Resources submit applications for the DOE grants?

Phenom plans to submit applications once the Department of Energy reveals the specific timing for the funding opportunities.

What is the purpose of the DOE's Critical Minerals and Materials funding initiative?

The initiative aims to advance and scale mining, processing, and manufacturing technologies across key stages of the U.S. critical minerals and materials supply chains.