Phenom Reports Project and Corporate Progress
Phenom Reports Project and Corporate Progress
July 9, 2024 - Vancouver, British Columbia – Phenom Resources Corp. (TSX-V: 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 has engaged Zonge International Geophysical Services to conduct a geophysical survey on the
Company’s Crescent Valley Gold Project. Crews are currently in the field and are expected to take under 3
weeks to complete the IP/Resistivity program. The geophysical program is designed to provide important focus
to vein-hosted mineralization in this bonanza-type low sulfidation epithermal setting for better drill targeting.
In anticipation of results of this program, the Company has already secured a permit to drill targets at Crescent
Valley.
Dobbin Gold Project
An experienced Nevada-based geologist with extensive familiarity with Carlin-type deposits has been detail-
mapping the Dobbin Project since mid May, identifying key stratigraphic units, finding multiple altered areas,
more jasperoid than indicated by initial work, and evidence of altered dykes which are all positive ingredients
of Carlin-type systems. A series of progressive soil sampling campaigns have been done to-date to reproduce
the gold anomaly previously identified in the 1980’s by Newmont and has had positive outcomes; two sizeable
anomalies have been identified. An infill and expansion soil sampling program were completed last week with
samples delivered to the lab. The results of the collective expanded soil campaigns and next steps will be
reported once the anomalies are better outlined and quantified.
King Solomon Gold Project
Data consolidation and compilation has been going on since announcing the project acquisition last month.
The Company is nearing the end of that stage so that Company geologists can design next steps which would
include field activities and multi-stages of drilling so that permitting can be designed accordingly.
MK Plus (Japanese solid state vanadium battery group)
MK Plus’ president came to Vancouver last month and spent a day with Company president Paul Cowley in
fruitful discussions on MK Plus’ progress in additional testing with potential customers and on funding progress
for their first battery plant. Last year, 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.
Grant Applications
The Company awaits Department of Environment’s (DOE) evaluation of its two grant submissions on the Carlin
Vanadium Project.
In addition, t he DOE announced a new funding opportunity last week through its Office of Clean Energy
Demonstrations (OCED) with a Notice of Intent (NOI) for up to $100 million to fund pilot-scale energy storage
demonstration projects, focusing on non -lithium technologies, long -duration (10+ hour discharge) systems,
and stationary storage applications. The Company will pursue this opportunity once target dates are firmed
up by the DOE , anticipating to be in late summer / early fall. Through this funding, OCED plans to fund 3 -15
projects, offering $5-20 million each.
Reclamation Bonds Refunded
Reclamation bonds have been released back to the Company for satisfactory reclamation results following the
Company’s exploration work that wrapped up on the AVP, Section 22 and Smoke projects.
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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 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
Technical disclosure in this news release has been reviewed and approved by Dave Mathewson, a Qualified Person
as defined by National Instrument 43-101, director and Geological Consultant of 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.