Mr. Paul Cowley reports

PHENOM CLOSES $1,619,500 FIRST TRANCHE OF PRIVATE PLACEMENT FINANCING

Phenom Resources Corp. has closed on a first tranche of its non-brokered private placement, previously announced on Jan. 31, as updated Feb. 4, 2025. In this first tranche, the company has issued 6,478,000 units at a price of 25 cents per unit for gross proceeds of $1,619,500. In connection with the first tranche, the company paid a total of $7,450 as finders' fees.

Each unit comprises one common share in the capital of the company and one transferable share purchase warrant of the company, whereby each warrant entitles the holder thereof to purchase one additional share at an exercise price of 35 cents at any time before 5 p.m. Vancouver time on Feb. 13, 2028, being the third anniversary of the date of issuance.

All securities issued under the offering are subject to a hold period expiring June 14, 2025, in accordance with applicable securities laws and the policies of the TSX Venture Exchange.

Closing of a second and final tranche of the offering is expected to occur on or before Feb. 26, 2026.

We seek Safe Harbor.