Vancouver, British Columbia–(Newsfile Corp. – February 4, 2025) – Phenom Resources Corp. (TSXV: PHNM) (OTCQX: PHNMF) (FSE: 1PY0) (“Phenom” or the “Company“) announces that further to its news release of January 31, 2025, it has received overwhelming interest above the previously announced non-brokered private placement offering of up to $1,500,000 (including the over-allotments option). Accordingly, the Company is increasing this offering such that it now proposes to sell up to 7,400,000 units (the “Units“) at a price of $0.25/Unit to raise total gross proceeds of up to $1,850,000 (the “Offering“). The Company also retains an approximately 10% over-allotment option which will permit it to issue up to an additional 740,000 Units for up to an additional $185,000 if circumstances warrant at the time of closing.

Each Unit will be comprised of one common share and one warrant. Each warrant will entitle the holder thereof to purchase one common share for a period of 3 years at a price of $0.35. The gross proceeds received from the sale of the Units will be used for work programs on the Company’s exploration properties and for general working capital. All other terms of the offering remain as set out in the Company’s January 31, 2025 news release. The offering remains subject to compliance with applicable securities laws and the policies of the TSXV.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States of America. The securities have not been and will not be registered under the United States Securities Act of 1933 (the “1933 Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons (as defined in the 1933 Act) unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration is available.

About Phenom Resources Corp.
Phenom has 100% interest in the Carlin Gold-Vanadium Project, located six miles south from the town of Carlin, Nevada, and Highway I-80 in Elko County, which hosts the Carlin Vanadium deposit, North America’s largest highest grade primary vanadium resource. The Company has options on three gold projects in Nevada – the Dobbin and King Solomon Properties, which are Carlin Gold-type targets, and the Crescent Valley Property, a Bonanza high grade gold vein-type target.

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 and include the Company’s ability complete the proposed non-brokered private placement financing on the terms as described above. 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. Readers should not place undue reliance on 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.

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