Phenom Extends Dobbin Gold System to 2.1+ Kilometres Long

Vancouver, British Columbia--(Newsfile Corp. - January 15, 2025) - Phenom Resources Corp. (TSXV: PHNM) (OTCQX: PHNMF) (FSE: 1PY0) ("Phenom" or the "Company") is pleased to announce that new soil sampling results, with previously reported soil results, and geologic mapping together have further defined a mineral system characteristic of a Carlin-type gold deposit. The system anomaly is now at least 2.1 kilometres long (1.3 miles) and 200 meters (660 feet) or more, wide.

Dave Mathewson, Company director and Geological advisor states, "This is a sizable significant Carlin-style gold system that has potential of multiple associated gold deposits and in my view represents one of the best undrilled gold prospects in Nevada, if not the best."

The recently completed soil sampling program focused on a 600m x 200m (1980 ft x 660 ft) area with the objective of extending the length of gold system to the southwest from previous sampling. The new soil and mapping results successfully demonstrated continuity of the gold system for an impressive +2.1 km long and the "strength and quality of system" by virtue of the strength of values and persistent distribution of gold and associated pathfinder elements. Highlights of the entire system to date follow.

Arsenic and zinc are the strongest continuous pathfinder elements along the entire 2.1km trend as seen in Figures 1 and 2, accompanied by more localized anomalous values of mercury, antimony and thallium. This assemblage of gold with pathfinder elements is indicative of Carlin gold systems. Within and along the 2.1km trend are four sizeable higher concentrated arsenic-zinc zones or plumes. It is important to note that arsenic is the single most important associated pathfinder to gold in prolific Carlin-type gold systems.

Robust gold values in soils persist for 1.3km along the trend suggesting strong gold-bearing parts of the system are at surface in this area (see Figure 3). Further to the southwest for 800m, gold is still present in lower but important values as two linears, expressing leakage from below and along the outer edges of the 200m wide system. Elevated arsenic-zinc zones usually form a wider halo around gold cores, which in this segment of the system suggests stronger gold mineralization to be present at depth. Phenom plans additional mapping and rock chip sampling to further refine the structural and stratigraphic setting.

Our geological and structural understanding of the system has also been improved significantly over the months of detailed surface mapping and prospecting. The anomaly and gold system is within and associated with altered lower to middle Roberts Mountains Formation, important hosts for many Carlin-type gold deposits in central and northern Nevada. Typical Carlin-type alteration assemblages such as jasperoid and decalcification are present. Decalcified and silicified float has returned gold assays up to 1.29 g/t Au. The anomalous gold zone is likely controlled by high-angle northeast-southwest trending structures cutting folded to gently dipping Roberts Mountains Formation carbonates. Subparallel-oriented argillized intrusive dyke swarms are present from subcroppings and from chromium anomalies in soil within and along the northeast trending system. Dykes are commonly important ore controls in Carlin-type systems.

Dave Mathewson, continues, "There are further commentaries for readers to appreciate the magnitude of the Dobbin opportunity. What has been described and seen with these figures and results is very substantial, yet only the two-dimensional look at a big system. The 3^rd dimensional context adds real insight and potential size. Multiple favourable stratigraphic host rocks are present at surface and at depth on the property such as the middle and lower Roberts Mountains Formation (more than 200m (660') thick in this area) and Antelope Formation (known to be up to 418m (1373') thick in the Monitor Range and a major host in the Eureka Mining District to the north). Where the subvertical feeder structures feed this gold system and cut these specific rock formations, gold can be deposited as multiple brecciated and stacked mineralized zones at various depths, somewhat reminiscent of tree branches off a tree truck. And since the stratigraphy on the property is shallow dipping, gold tends to spread outward flanking from the structure along the favourable shallow dipping stratigraphy. In additional, all Carlin-type gold deposits have high-grade cores that can have dramatic positive economic impacts. This gold system would be no exception. A cross-sectional gold target model showing these potential sizable depth opportunities will be available on the Company website."

Figure 1: Dobbin Arsenic Soil Anomaly defined by 25m x 25m detailed soil grid sampling

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Figure 2: Dobbin Zinc Soil Anomaly defined by 25m x 25m detailed soil grid sampling

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Figure 3: Dobbin Gold Soil Anomaly defined by 25m x 25m detailed soil grid sampling

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Phenom is permitting a comprehensive trenching and drilling campaign to explore the anomalous zone.

Technical disclosure in this news release has been reviewed and approved by Dave Mathewson, Director and Geological Consultant of the Company and a Qualified Person as defined by National Instrument 43-101.

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.

Cautionary Statement Regarding Forward-Looking Information

This news release contains certain "forward-looking information" and "forward-looking statements" (collectively "forward-looking statements") within the meaning of applicable securities legislation. All statements, other than statements of historical fact, included herein, without limitation, statements relating to the future operations and activities of Phenom, are forward-looking statements. Forward-looking statements are frequently, but not always, identified by words such as "expects", "anticipates", "believes", "intends", "estimates", "potential", "possible", and similar expressions, or statements that events, conditions, or results "will", "may", "could", or "should" occur or be achieved. Forward-looking statements in this news release relate to, among other things, the Company's exploration plans, including ongoing mapping and sampling, future assay results and the impact thereof. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements reflect the beliefs, opinions and projections on the date the statements are made and are based upon a number of assumptions and estimates that, while considered reasonable by Phenom, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements and the parties have made assumptions and estimates based on or related to many of these factors. Readers should not place undue reliance on the forward-looking statements and information contained in this news release concerning these items. Phenom does not assume any obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by applicable securities laws.

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