Phenom Retains MarketSmart Communications

Vancouver, August 1, 2024 - Phenom Resources Corp. (TSXV: PHNM) (OTCQX: PHNMF) (FSE: 1PY0) ("Phenom" or the "Company") is pleased to announce it has entered into an agreement with MarketSmart Communications Inc. ("MarketSmart") pursuant to which MarketSmart will provide investor relations ("IR") services to Phenom for an initial term of six months.

Paul Cowley, Phenom's President and Chief Executive Officer, commented: "We look forward to working with MarketSmart, a leading Canadian IR firm, to help accelerate awareness of Phenom's growth story."

Adrian Sydenham, President of MarketSmart, stated: "MarketSmart is thrilled to be working with Phenom at this stage of its development. Their gold portfolio and green energy vanadium assets are truly unique. Phenom is well-financed and has an experienced management team and a great share structure to achieve its corporate objectives and milestones. We look forward to working with the Phenom team and communicating with existing and potential new investors."

Phenom will pay MarketSmart a fee of $7,500, plus applicable taxes, per month and MarketSmart and Chad Levesque, a Marketsmart partner, will each be granted stock options to purchase 100,000 common shares of Phenom at a price of $0.45 per share for a term of 36 months. The options are in accordance with Phenom's omnibus equity incentive plan and will vest in stages over a period of 12 months such that 25% of the stock options will vest three months after today's date; 25% of the stock options will vest six months after today's date; 25% of the stock options will vest nine months after today's date; and the remaining 25% of the stock options will vest 12 months after today's date. The investor relations agreement and grant of stock options are subject to the approval of the TSX Venture Exchange.

Contact: MarketSmart Communications Telephone: 1- 877-261-4466 Email: info@marketsmart.ca.

Crescent Valley Gold Project News

The Company engaged Zonge International Geophysical Services to conduct an IP/Resistivity geophysical survey on the Company's Crescent Valley Gold Project. The field work has now been completed. Data will be processed and assessed in the coming two weeks to focus drill targeting on the vein-hosted mineralization in this bonanza-type low sulfidation epithermal setting. The Company has already secured a permit to drill targets at Crescent Valley.

Dobbin Gold Project

Mapping and sampling continue by an experienced Nevada-based geologist with extensive familiarity with Carlin-type deposits. The Company will provide a geological, geochemical and structural summary mid-August. Results of the progressive soil sampling campaigns to reproduce the gold anomaly previously identified in the 1980s by Newmont will also be provided at that time along with next steps.

King Solomon Gold Project

Data consolidation, compilation and 3D modelling of previous drilling is in progress 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.

About Phenom Resources Corp.

Phenom has 100% interest in the Carlin Gold-Vanadium Project, located in Elko County, six 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 nine 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.

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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/218582