Phenom reports strong gold results from its Dobbin Gold Project, Nevada Page 1

Vancouver, British Columbia–(Newsfile Corp. – September 4, 2024) – Phenom Resources Corp. (TSXV: PHNM) (OTCQX: PHNMF) (FSE: 1PY0) (“Phenom”) or the “Company”) is pleased to announce that it has discovered a strong 900 meter (approximately 3,000 ft) long by 220 meter (approximately 720 ft) wide gold-in-soil anomaly with a large number of values ​​ranging from >0.1 g/t Au to 2.73 g/t Au (approximately 0.09 oz/t) at the Company's Dobbin Gold Project, 80 kilometers southwest of Eureka in Central Nevada (see Figure 1). The linear anomaly reflects a northeast trending structure that is believed to cut subvertically through gently dipping carbonates of the Roberts Mountains Formation, an important host to many Carlin-type gold deposits in Central and Northern Nevada. Since the 900 m long and persistent anomaly is open in both directions, additional soil sampling was carried out last week to test a potential strike length of up to 1.7 kilometers. During the recent expanded soil sampling, soil sampling crews identified several areas of black jasperoid debris and outcrops. These additional results should be available later this month.

Dave Mathewson, Director and Geological Consultant to the Company, states, “The size and strength of this surface gold soil anomaly is rare in Nevada and as good as it gets. Anomalies of this type and magnitude found previously have led to further gold discoveries and ultimately even the production of gold deposits. This is a mine deposit scale anomaly. One can only describe these results as a significant discovery event. To date, no drilling has been done in this area. These gold geochemical values ​​and associated indicator elements in these permissive carbonates of the Roberts Mountains Formation strongly suggest the presence of a significant, disseminated, carbonate-bearing, Carlin style gold deposit.”

Figure 1: Dobbin Gold soil anomaly defined by detailed 25 x 25 metre soil grid samples

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Dave Mathewson continues, “This Carlin gold deposit-like occurrence was first discovered and staked by me in 1989-1990 while employed by Newmont Exploration, Ltd. At that time, we were unable to further explore the anomaly through trenching and drill testing because the U.S. Federal Government issued an overlapping Federal Wilderness Study Area shortly after its discovery. Some time after Newmont left the site, the study area shrank to the smaller Table Mountain Wilderness Area, reopening the anomaly for staking and mineral development. I am very pleased that this exceptional anomaly has resurfaced and is now back in my hands and for Phenom.”