Phenom Completes Drill Program at Carlin, Nevada

Rhea-AI Summary

Phenom Resources Corp. (PHNM) completes drilling on Carlin Gold-Vanadium Project in Nevada, with samples sent for testing. One hole abandoned at 500' due to rock conditions. Results expected next month.

Vancouver, British Columbia--(Newsfile Corp. - November 22, 2023) - Phenom Resources Corp. (TSXV: PHNM) (OTCQX: PHNMF) (FSE: 1PY0) ("Phenom" or the "Company") is pleased to announce that drilling on the company's 100% owned Carlin Gold-Vanadium Project, located within the Carlin gold trend of Nevada, has wrapped up for the season. The objective was to drill a 2000' reverse circulation hole to test the gold system at depth near-surface gold of up to 1.4g/t Au (0.044oz Au/t) in outcrop, considered geochemical "leakage" above the deeper target zone. One hole was abandoned at 500' due to difficult rock conditions. A second hole was drilled to a depth of 1900' and was completed yesterday. Samples have gone into the laboratory with results anticipated in next month.

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 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
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, and President, CEO and director 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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/188425

FAQ

What is the latest update from Phenom Resources Corp. (PHNM) regarding the Carlin Gold-Vanadium Project in Nevada?

Phenom Resources Corp. (PHNM) has completed drilling on its 100% owned Carlin Gold-Vanadium Project in Nevada. One hole was abandoned at 500' due to difficult rock conditions, while a second hole was drilled to a depth of 1900' and completed.

What is the objective of the drilling on the Carlin Gold-Vanadium Project by Phenom Resources Corp. (PHNM)?

The objective of the drilling was to test the gold system at depth near-surface gold of up to 1.4g/t Au (0.044oz Au/t) in outcrop, considered geochemical 'leakage' above the deeper target zone.

What are the next steps after the completion of drilling on the Carlin Gold-Vanadium Project by Phenom Resources Corp. (PHNM)?

Samples from the drilling have been sent to the laboratory for testing, with results anticipated in the next month.

What challenges were faced during the drilling on the Carlin Gold-Vanadium Project by Phenom Resources Corp. (PHNM)?

One hole was abandoned at 500' due to difficult rock conditions.

What are the expectations for the results of the drilling on the Carlin Gold-Vanadium Project by Phenom Resources Corp. (PHNM)?

Results from the drilling are anticipated in the next month, once the samples have been tested in the laboratory.