Mr. Paul Cowley reports

PHENOM ANNOUNCES $1,985,000 CLOSING OF OVER-SUBSCRIBED PRIVATE PLACEMENT FINANCING

Phenom Resources Corp. has closed the third and final tranche of its oversubscribed non-brokered private placement previously announced on Jan. 31, as updated Feb. 4, 2025. In this third tranche, the company issued 962,000 units at a price of 25 cents/unit for gross proceeds of $240,500. In connection with the third tranche of the offering, the company paid a total of $3,000.00 in finders' fees. Aggregate proceeds from all three tranches raised a total of $1,985,000 by the issuance of a total of 7.94 million units. A total of $11,325.00 cash was paid in finders' fees for the entire offering.

Each unit in the third tranche 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 March 14, 2028, being the third anniversary of the date of issuance.

John Anderson, a director of the company participated in the offering, purchasing 100,000 units for gross proceeds of $25,000. Participation by the insider in the offering is considered related party transactions pursuant to Multilateral Instrument 61-101 -- Protection of Minority Security Holders in Special Transactions (MI 61-101). The company is exempt from the requirements to obtain a formal valuation and minority shareholder approval in connection with the insider's participation in the offering, in reliance of sections 5.5(a) and 5.7(a) of MI 61-101, respectively, on the basis that participation in the offering by the insider did not exceed 25 per cent of the fair market value of the company's market capitalization. The company did not file a material change report in respect of the related party transaction at least 21 days before the closing of the offering, which the company deems reasonable in the circumstances as the details of the participation by insider of the company were not settled until shortly prior to closing the third tranche of the offering and the company wished to complete the offering in an expeditious manner.

All securities issued under the offering are subject to a hold period expiring July 15, 2025, in accordance with applicable securities laws and the policies of the TSX Venture Exchange.

We seek Safe Harbor.