Phenom Reports Project and Corporate Progress

Rhea-AI Summary

Phenom Resources Corp provided updates on multiple projects. At the Crescent Valley Gold Project, they completed a Reverse Circulation drill program with assays expected in 4 weeks, and discovered a 75-meter continuous IOCG system outcrop containing potential rare earth minerals. The Dobbin Gold Project is undergoing mapping and sampling near a 2.1km long gold soil anomaly, with permits submitted for trenching and drilling. At King Solomon Gold Project, mapping work has begun on a nine square kilometer gold-arsenic system. Their Vanadium-Nickel project is advancing with a unique processing flowsheet nearing patent application stage, while seeking strategic partners and US government funding. Additionally, their Japanese partner MK Plus secured a 60GWh vanadium solid state battery order from a European government, with production starting next spring. Phenom holds a 5% equity stake in MK Plus through an Off-take Agreement.

Positive

• Discovery of 75-meter continuous IOCG system outcrop at Crescent Valley with potential rare earth minerals
• Progress on unique processing flowsheet for Vanadium-Nickel project nearing patent application stage
• Strategic partner MK Plus secured major 60GWh battery order from European government
• Company holds 5% equity stake in MK Plus through Off-take Agreement
• Multiple active exploration projects advancing simultaneously

Negative

• Still awaiting assay results from Crescent Valley drilling
• Vanadium-Nickel project requires external funding and strategic partners to advance
• No definitive timeline for patent approval or project development

Vancouver, British Columbia--(Newsfile Corp. - June 19, 2025) - Phenom Resources Corp. (TSXV: PHNM) (OTCQX: PHNMF) (FSE: 1PY0) ("Phenom" or the "Company") is pleased to provide a progress report on project and corporate activities. The Company has a very busy agenda.

Crescent Valley Gold Project

The Company completed a Reverse Circulation drill program on Crescent Valley last week. Assays are in the laboratory with results anticipated within four weeks. Drilling focused on the bonanza-type low sulfidation epithermal setting.

In addition, while building trail and sump for one of the drill pads, the excavator exposed 75 metres of continuous outcrop of the brecciated IOCG (Iron Oxide Copper Gold) system on the property. This area historically was known to contain rare earth minerals. The full 75 metres was sampled across to determine the level of gold, copper and rare earth minerals.

Dobbin Gold Project

Our highly experienced Nevada-based geologist with extensive familiarity with Carlin-type deposits, Brion Theriault, is continuing his mapping and sampling on Dobbin to identifying key stratigraphic units, structure and alteration areas outbound from the +2.1km long by 200-metre-wide gold soil anomaly previously reported on January 15, 2025. Selective rock chip sampling within the gold soil anomaly will be undertaken by the end of the month. A permitting application has been submitted for an extensive mechanical trenching and drilling program focused on the gold soil anomaly.

King Solomon Gold Project

Dr. Michael Ressel has initiated his mapping and sampling field work on the King Solomon Project, a massive gold system. A gold and arsenic plume covers a nine square kilometre area defined by historic soil sampling.

High-Grade Vanadium-Nickel Opportunity

Company metallurgists continue to make progress on advancing a unique processing flowsheet on its High-Grade Vanadium-Nickel Opportunity (Identified Project) reported on December 19, 2024 through testing at SGS Canada. It is anticipated that the Company is nearing a stage to submit a patent application on this process.

Phenom is also seeking to attract a strategic partner to fund and operate the Identified Project, with Phenom retaining part ownership through the utilization of its patented recovery processes. The Company anticipates that the Identified Project would be a long-term-operating processing plant that would process high-grade vanadium and nickel feed to generate high purity product at a profit at current prices and be a midstream contributor to the expanding US EV and large capacity battery markets. With the heightened narrative by the Trump Administration on securing critical minerals, the Company is also endeavouring to attract US government funds to advance and support the Project.

MK Plus (Japanese solid state vanadium battery group)

MK Plus' president has informed Company president Paul Cowley that MP Plus has secured an order for 60GWh of MK Plus' vanadium solid state battery from a European government. MK is acquiring a plant to commercialize their battery by next spring to fulfill this order and future orders. Phenom secured a 5% equity interest in MK Plus through an Off-take Agreement. More news on MK Plus will follow when milestones are met.

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 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-type high grade gold vein target.

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, director, President and CEO to 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/256107

FAQ

What major projects is Phenom Resources (PHNMF) currently developing?

Phenom is developing four main projects: Crescent Valley Gold Project, Dobbin Gold Project, King Solomon Gold Project, and a High-Grade Vanadium-Nickel Opportunity, along with a strategic investment in MK Plus's vanadium battery technology.

What is the significance of the IOCG system discovery at Phenom's Crescent Valley project?

The discovery revealed a 75-meter continuous outcrop of brecciated IOCG system containing potential rare earth minerals, gold, and copper, expanding the project's resource potential.

What is the status of Phenom's Vanadium-Nickel project development?

The project is advancing with a unique processing flowsheet nearing patent application stage, while the company seeks strategic partners and US government funding for development.

What is Phenom's relationship with MK Plus and what recent developments occurred?

Phenom holds a 5% equity stake in MK Plus through an Off-take Agreement. MK Plus recently secured a 60GWh vanadium solid state battery order from a European government and plans to start production next spring.

What is the current status of Phenom's Dobbin Gold Project?

The project is undergoing mapping and sampling near a 2.1km long gold soil anomaly, with permit applications submitted for mechanical trenching and drilling programs.