Mr. Paul Cowley reports

PHENOM INCREASES PRIVATE PLACEMENT FINANCING UP TO $1,850,000

Further to Phenom Resources Corp.'s news release of Jan. 31, 2025, it has received overwhelming interest above the previously announced non-brokered private placement offering of up to $1.5-million (including the overallotments option). Accordingly, the company is increasing this offering such that it now proposes to sell up to 7.4 million units at a price of 25 cents/unit to raise total gross proceeds of up to $1.85-million. The company also retains an approximately 10-per-cent overallotment option which will permit it to issue up to an additional 740,000 units for up to an additional $185,000 if circumstances warrant at the time of closing.

Each unit will comprise one common share and one warrant. Each warrant will entitle the holder thereof to purchase one common share for a period of three years at a price of 35 cents. 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. All other terms of the offering remain as set out in the company's Jan. 31, 2025, news release. The offering remains subject to compliance with applicable securities laws and the policies of the TSX-V.

About Phenom Resources Corp.

Phenom has 100-per-cent interest in the Carlin gold-vanadium project, located six miles south from the town of Carlin, Nevada, and Highway I-80 in Elko county, which hosts the Carlin vanadium deposit, North America's largest highest-grade primary vanadium resource. The company has options on three gold projects in Nevada -- the Dobbin and King Solomon properties, which are Carlin gold-type targets, and the Crescent Valley property, a bonanza high-grade gold vein-type target.

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