Mr. Paul Cowley reports

PHENOM COMMENCES DRILLING ON CRESCENT VALLEY GOLD PROJECT, NEVADA

Drilling has commenced on Phenom Resources Corp.'s Crescent Valley gold project, 22 kilometres (13 miles) southwest of Carlin, Nev. The Crescent Valley gold project represents a high-grade, bonanza-vein gold prospect strategically located within the Northern Nevada rift flanking the southwest fringe of the Carlin gold trend in Northern Nevada.

Dave Mathewson, director and geological adviser to the company, states: "The Crescent Valley project represents the core portion of the largest quartz vein system in Nevada that I am aware of. The project has a setting remarkably similar to that of the Sleeper deposit located in Humboldt county, Nevada. The Sleeper mine was a high-grade gold mine operated by AMAX Gold from 1986 to 1996 and was considered the lowest-cost gold producer in the world in 1988 at $103/oz because of its open pit mined Bonanza vein and wall-rock gold grades which, combined, averaged 0.48 opt Au."

The range-front/margin vein system is a zone of multievent, silica-healed, hydrothermal breccias. Portions of the veins display minor repetitive banding, coarsely bladed calcite and quartz pseudomorphs of the calcite, within larger zones of phreatic-type brecciation that typically represent above-boiling zones of hydrothermal fluids and also above the prospective deposition levels of gold.

About Phenom Resources Corp.

Phenom has 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 comprising multiple gold deposits, including past-producing mines, are present near the Phenom property (five to 15 kilometres). The company has options on three gold projects in Nevada, the King Solomon and Dobbin properties which are Carlin gold-type targets and the Crescent Valley property.

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