Phenom Provides Corporate Update
Phenom Provides Corporate Update
July 5, 2023 - Vancouver, British Columbia – Phenom Resources Corp. (TSX-V: PHNM) (OTCQX®: PHNMF)
(FSE: 1PY0) (“Phenom” or the “Company”) is pleased to provide a corporate update on many of its initiatives.
MK Plus
The Company announced May 31, 2023, that it had signed a Memorandum of Understanding (MOU) with MK
Plus to gain a 5% equity interest in this private Japanese solid state vanadium battery company. A draft Off-
Take Agreement has been prepared and delivered to MK Plus and is currently under review by them. The
Company will provide further updates on the status of finalizing this agreement as they become available.
We can further report that we have been advised by MK Plus that last month a European utility company
conducted a trial test on MK Plus’s prototype solid state vanadium battery. We will endeavour to provide
results on the trial test when and as permitted by the parties.
According to MK Plus ’s corporate presentation , their vanadium solid -state battery provides higher desired
performance at a lower cost over vanadium redox flow batteries (VRFB) in the large capacity battery market,
claiming their battery:
1) Rapidly charges in minutes (C -rate of between 100 and 300 versus C-rate of 20 in VRFB ), achieving
massive charging speeds 100 times faster.
2) Uses one tenth of the amount of vanadium that VRFB use for an equivalent charge.
3) Has +100,000 deep cycle life without heat dissipation (no fire risk) or degradation (long life).
4) Has been tested at ambient operating temperatures between 100 oC and -40oC without loss of
performance.
26 Cent Warrants Expiring July 10, 2023
Remaining 26 cent warrants from a Company private placement closed July 9, 2020 , are in the money .
Proceeds from the warrant exercise will fund drilling this summer on the Carlin Gold-Vanadium Project and
the initial evaluation of Crecent Valley gold project.
DOE Officially Recognizes Commercial Viability of Non-Lithium Battery Asset Class
Related to the Company’s continuing efforts to obtain U.S. Federal grants for its vanadium project , it is
encouraged by the US Department of Energy officially recognizing the non-lithium battery asset class for its
large capacity battery future and its desire to accelerate its commercialization . The Company provides the
follow quotes from a June 27, 2023, article entitled DOE recognizes long duration energy storage as a critical
technology by Michael Schoeck and published by PV Magazine.
“Long-duration energy storage (LDES) is crucial to facilitating the transition to clean energy. With about $9
billion in government funding needed to commercialize the LDES market, the U.S. government of ficially
recognized the commercial viability of the non-lithium ion battery asset class.
Today the U.S. Department of Energy (DOE) signed a memorandum of understanding with four agencies to
accelerate the commercialization of LDES.”
2
Issuance of Shares for Crescent Valley Option
Further to its press release of May 1, 2023, the Company is pleased to announce that it has now received TSX
Venture Exchange acceptance of the property option agreement relating to the Company’s optioned
acquisition of the Crescent Valley Property located in Nevada. As a result, the Company has made the initial
option payment of US$10,000 and has issued 150,000 common shares to the owner of the property in
accordance with the terms of the agreement. These shares are subje ct to a hold period expiring October 28,
2023, in accordance with applicable securities laws and the policies of the TSX Venture Exchange.
Additional Vanadium Projects
Management of the Company continues to evaluate and negotiate on deals for additional high -grade
vanadium projects to add to its portfolio at a time when it believes that vanadium remains under the radar by
many.
About Phenom Resources Corp.
Phenom has 100% interest in the Carlin 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
[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, unc ertainties 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 fut ure performance or results, and
they will not necessarily be accurate indications of whether or not such results will be achieved. Actual results could diffe r 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 obligati on to
update or revise any forward -looking statements whether as a result of new informatio n, future events or otherwise, except as
required under applicable securities regulations.