Field Planning And Preparation For Gold Push In Nevada

VANCOUVER - Phenom Resources Corp. reported on field planning and preparation for the summer/fall exploration program in Nevada focused on gold efforts.

Paul Cowley, President & CEO, said, "Last week an access road and drill pad were constructed on the Carlin Gold-Vanadium Project designed for hole RC23-17, a 2000+/- foot hole planned to test the gold system. The site is located where near-surface gold of up to 1.4g/t Au (0.044oz Au/t) in outcrop is considered high-level geochemical 'leakage' above the deeper target zone and flanking the confluence of the north-south graben fault-zone and a northwest trending splay fault. North-south and northwest oriented fault-zones are the most significant fault orientations influencing gold mineralization on the Carlin gold trend. Hole RC23-17 will drill into a funnel-shaped IP anomaly at depth. The Company has narrowed down to two drill contractors to conduct the drilling. Hole RC23-17 follows the impressive findings in hole RC22-16 from last summer, which encountered the best characteristics of the Phenom-controlled Carlin-type-deposit gold system to date; the most intense alteration and gold mineralized dolomite-silica-pyrite-breccia within Popovich limestone starting at a 1680' depth."

In addition, Company geologists met to design next steps of exploration on the Crecent Valley gold project. This included detailed review of previous technical reports, re-examining chips from five historic drill holes and a site visit of the project. The property hosts range-margin large-scale pyrite-bearing epithermal, locally gold anomalous quartz veins exhibiting multi-stage brecciation and multi-stage veining of chalcedony, characteristic of a low-sulfidation bonanza-type gold vein system.

The technical team's consensus was to conduct an Induced Polarization (IP) geophysical survey to provide an aid in directing effective drill targeting along the 4-kilometre length of the vein system. The Company has approached a well-known geophysical contractor to engage and schedule in the IP survey.