Phenom Files US Patent Application

Rhea-AI Summary

Phenom Resources Corp. (TSXV: PHNM, OTCQX: PHNMF, FSE: 1PY0) announced the filing of a US patent for a new process to extract vanadium and nickel from petroleum coke fly ash. This is Phenom's third patent, underscoring their technological advancements in metallurgical processes. The company aims to leverage these innovations for new business opportunities.

Positive

• Filed a US patent application for a unique vanadium and nickel extraction process.
• Third patent developed by Phenom's technical team in metallurgical breakthroughs.
• Potential to open new business opportunities by leveraging technological advancements.

Negative

• No immediate financial benefits reported from the patent filing.
• The process and its commercial viability are yet to be proven in the market.

Vancouver, British Columbia--(Newsfile Corp. - May 17, 2024) - Phenom Resources Corp. (TSXV: PHNM) (OTCQX: PHNMF) (FSE: 1PY0) ("Phenom" or the "Company") is please to announce that it has filed a patent application in the USA on a process to uniquely extract vanadium and nickel from petroleum coke fly ash material.

Paul Cowley, President & CEO of the Company stated, "Besides having core competence in mineral exploration, many do not realize that Phenom also has a technological core competency. Our capable technical team of brilliant metallurgists has been working on various metallurgical breakthroughs focused specifically on vanadium recoveries on various feed material. The patent application filed this week is the third such patent our team has developed for the benefit of the Company for new business opportunities."

Vanadium and nickel are often found in small concentrations in natural oil products. During the petrochemical refining process, vanadium, nickel, and other valuable metals are concentrated in a product referred to as petroleum coke. This coke has a high energy content and is therefore often burned to produce energy or steam for the refining process. Coke may also be gasified to form hydrocarbons which increases the yield of petrochemical products from oil products received by the refinery. At the end of the coke combustion or gasifying process, an inorganic residue is obtained in a mixture with unreacted coke. This is generically referred to as an ash product, or petcoke fly ash. The high vanadium content of the ash and the significant content of other metals, particularly nickel, make it attractive to process this material so as to recover segregated metal values.

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 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
pcowley@phenomresources.com 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 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/209709

FAQ

What did Phenom Resources announce on May 17, 2024?

Phenom Resources announced the filing of a US patent application for a new process to extract vanadium and nickel from petroleum coke fly ash.

What is the significance of Phenom's new patent application?

The new patent application signifies Phenom's technological advancements in extracting valuable metals from petroleum coke fly ash and aims to open new business opportunities.

How many patents has Phenom developed for metallurgical processes?

Phenom has developed three patents focused on metallurgical processes.

What are the key metals Phenom's new process aims to extract?

Phenom's new process aims to extract vanadium and nickel from petroleum coke fly ash.

What stock symbol is Phenom Resources listed under?

Phenom Resources is listed under the stock symbol PHNMF on the OTCQX.