Vancouver, British Columbia--(Newsfile Corp. - September 23, 2026) - Phenom Resources Corp. (TSXV: PHNM) (OTCQX: PHNMF) (FSE: 1PY0) ("Phenom" or the "Company") announces that further to its news releases of June 29, 2026, and August 18, 2026, an affiliate of SSR Mining Inc. ("SSR") has now exercised its right to acquire a 15% interest in the Dobbin Project for US$4,000,000 (the "Initial Contribution").

In furtherance of the acquisition and resulting joint venture, the Company's subsidiary, Copper One USA, Inc. ("Copper One") and SSR have incorporated a Nevada LLC (the "JV Company") under which they will carry out their joint venture of the Dobbin Project, with Copper One owning an initial 85% interest and SSR owning an initial 15% interest in the JV Company. Pursuant to the terms of the JV Company's operating agreement, Copper One has transferred the Dobbin Project claims to the JV Company and SSR has delivered the Initial Contribution to the JV Company, which funds will be used solely to finance the advancement of the Dobbin Project. When the Initial Contribution is depleted, the parties will make additional capital contributions to further exploration and development on the Dobbin Project pro rata in proportion to their respective interests in the JV Company, subject to standard dilution provisions. In the event that a party's interest is reduced to less than 10%, such party will cease to be a member of the JV Company and will receive up to a 2% NSR royalty on production from the Dobbin Project. In the event that either party wishes to sell or transfer its interest in the JV Company, the other party has a right of first refusal to acquire the interest. Copper One will be the initial manager of the JV Company and will retain operational control over the Dobbin Project while it holds a majority interest in the JV Company.

Paul Cowley, Company President and CEO, states, "We are very pleased to have SSR as our largest shareholder and now as our partner in advancing the Dobbin project, both of which reflect the high calibre of the Company and the project. Combined, SSR's investment in Phenom and the Initial Contribution have provided approximately $11 million in funding, which will support planned exploration activities through the remainder of the 2026 drilling season and when exploration activities resume in early summer 2027. We look forward to benefiting from SSR's added technical expertise and input as we continue to advance the project."

About Phenom Resources Corp.
Phenom has 100% interest in the Dobbin Gold property, a Carlin Gold-type target, the Crescent Valley Property, a Bonanza high grade gold vein-type and a critical metals IOCG-type target and the Carlin Gold-Vanadium Project, which hosts the Carlin Vanadium deposit, North America's largest highest grade primary vanadium resource. In addition, the Company has an option on another gold project in Nevada, the King Solomon property, which is a Carlin Gold-type target.

Technical disclosure in this news release has been reviewed and approved by Paul Cowley, a Qualified Person as defined by National Instrument 43-101, President, CEO and director 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 and include, but is not limited to, statements regarding the parties' interests in the JV Company, the intended use of funds with respect to the Initial Contribution, potential future dilution and consequences thereof, the parties' right of first refusal in the event one of them wishes to sell its interest in the JV Company, the duration of time and conditions under which Copper One will be manager of the JV Company, and other statements that are not historical facts. 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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