Drilling Progress Report Phenom Resources Nevada Projects

VANCOUVER - Phenom Resources Corp. has completed to date five reverse circulation holes totaling 3,487 meters (11,440 feet) on its flagship Carlin Gold-Vanadium Project on the Carlin Gold Trend and 6 reverse circulation holes totaling 1,147m (3,765 ft) on its AVP Project in the Battle Mountain-Eureka trend, Nevada. Drilling continues without pause. The drill programs are planned and executed under the supervision of Dave Mathewson, renowned Carlin gold expert and mine finder.

To date the Carlin Gold-Vanadium property 2021 drilling which started in late June, broadly tests a 750m (2,260 ft) stretch of the persistent 1.4 kilometer (4,920 ft) long by 500m (1640 ft) wide IP chargeability anomaly reported July 6, 2021. Each drill hole has demonstrated extensive lengths of elevated sulfides, brecciation/veining, silicification and dolomite alteration typical of a large-scale Carlin-type gold system. The drilling confirms without a doubt that the IP chargeability anomaly is an expression of a persistent large-scale plume of elevated sulfides as was interpreted. Assays are pending. As the gold system is essentially below the vanadium resource, additional vanadium intercepts are also anticipated from this drilling, including beyond the limits of the vanadium resource.

Paul Cowley, CEO and President, said, "We have been very busy advancing our projects this summer. We are learning much about the gold system at Carlin with our drilling. Each hole provides vital progressive information to direct a smart drill-vectoring stage of this large system and looking forward to expanding our knowledge onto our Section 22 property northward this fall."

At AVP, the Company has completed to date, the planned first pass broad spaced drilling program through shallow post-mineralization colluvial gravel cover along a 2.5km (1.5 mile) strike length within the core of the claims. Ground magnetic and gravity surveys were completed by the Company on AVP prior to drilling, revealing a >2.5km (1.5 mile) long by 500m (1640 ft) wide disrupted structural zone coincident with elevated gold in historic shallow drilling from the 1980's. Results are pending.

The Company has received a permit to drill its Section 22 Property, located 1 mile north of its flagship Carlin Gold-Vanadium Property and will drill-test this prospect as part of our ongoing aggressive 2021 drilling program. The drilling will test the large-scale strong IP chargeability signature which demonstrates a very similar geological setting to the IP chargeability signature on the Company's Carlin flagship claims.