Phenom Provides Company Update - Warrants Expire
Phenom Provides Company Update - Warrants Expire
May 6, 2024 - Vancouver, British Columbia – Phenom Resources Corp. (TSX-V: PHNM) (OTCQX®: PHNMF)
(FSE: 1PY0) (“Phenom” or the “Company”) reports that today, May 6, 2024, at 5pm PT, a total of 6,977,325
Phenom warrants at $0.55 will expire. These warrants pertain to a May 5, 2021, Company private placement
and will not be extended.
In separate news, the Company is awaiting feedback from Department of Energy (DOE) on its review o f the
two grant applications the Company has submitted for the Company’s Carlin Vanadium Projec t. One grant
application is for a US$300 million grant submission to the DOE and its Office of Manufacturing and Energy
Supply Chains (MESC) for new Commercial -scale Separation, Processing, and Recovery of Battery Critical
Minerals (non -Lithium) projects for which the Carlin Vanadium Project Processing Plant construction may
qualify for. This larger funding opportunity is part of the second round of funding by the DOE of approximately
$3.5 billion to be made available for battery materials processing and battery manufacturing grants . The
second grant application is for a US$3 million from the DOE and its Office of Fossil Energy and Carbon
Management (FECM) for RD&D bench and pilot scale funding for the Carlin Vanadium Project . This specific
funding opportunity pertains to an earlier stage of technical work to assist advancing metallurgical testing for
the Carlin Vanadium Project that would become part of a Prefeasibility study.
Thirdly, the Company has been actively scanning for and reviewing potential selective gold acquisitions in
Nevada over the last 4 months to add to the Company’s gold portfolio in an environment of elevating gold
price. This review is headed by Dave Mathewson, Company Director, Geological Consultant and accomplished
Nevada gold mine finder. Mr. Mathewson is only considering projects for the Company that have regional
scale gold system potential of the Carlin Gold -type or Bonanza high -grade gold vein -type. The Company’s
geological team is currently in Elko, Nevada initiating summer field work and planning on its Dobbin and CVN
projects and meeting with property vendors.
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). In addition, the Company has options on two gold projects in Nevada, the Dobbin
Property which is Carlin Gold-type target and the CVN Property, a Bonanza high-grade gold vein-type target.
ON BEHALF OF PHENOM RESOURCES CORP.
per: "Paul Cowley"
CEO & President
(604) 340-7711
[email protected] 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 perform ance 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 relea se, the Company cannot
assure investors that actual results w ill be consistent with these forward -looking statements. The forward-looking statements contained in this press release
2
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.