Mr. Paul Cowley reports

PHENOM ANNOUNCES UP TO $1,125,000 PRIVATE PLACEMENT FINANCING

Phenom Resources Corp. has proposed to undertake a non-brokered private placement of up to 2.5 million units at a price of 45 cents per unit to raise total gross proceeds of up to $1,125,000. Each unit will be composed of one common share and one warrant. Each whole warrant will entitle the holder thereof to purchase one common share for a period of three years at a price of 65 cents. The company also retains a 10-per-cent overallotment option, which will permit it to issue up to an additional 250,000 units for up to an additional $112,500 if circumstances warrant at the time of closing.

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.

The units will be offered to qualified purchasers in reliance upon exemptions from prospectus and registration requirements of applicable securities legislation. A finder's fee may be paid to eligible finders in relation to this financing, subject to compliance with applicable securities laws and the policies of the TSX Venture Exchange.

All securities issued and sold under the offering will be subject to a hold period expiring four months and one day from their date of issuance. Completion of the offering remains subject to the receipt of all necessary regulatory approvals, including the approval of the TSX Venture Exchange.

About Phenom Resources Corp.

Phenom has a 100-per-cent interest in the Carlin gold-vanadium project, located in Elko county, six miles south from the town of Carlin, Nev., and Highway I-80, which hosts the Carlin vanadium deposit, North America's largest, highest-grade primary vanadium resource. The project lies within the prolific Carlin gold trend. Approximately nine million ounces, composed of multiple gold deposits, including past-producing mines, are present near the Carlin property (five kilometres to 15 km). The company also has options on three gold projects in Nevada, the King Solomon and Dobbin properties, which are Carlin gold-type gold targets, and the CVN property, a bonanza high-grade gold vein-type target.

We seek Safe Harbor.