Mr. Paul Cowley reports

PHENOM ANNOUNCES UP TO $704,000 PRIVATE PLACEMENT FINANCING

Phenom Resources Corp. proposes to undertake a non-brokered private placement of up to 4.4 million units at a price of 16 cents per unit to raise total gross proceeds of up to $704,000. Each unit will consist of one common share in the capital of the company and one common share purchase warrant. Each warrant will entitle the holder to acquire one share at a price of 22 cents for a period of four years from the date of issuance.

The company expects to use the proceeds received from the offering 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 under applicable securities laws. Finders' fees may be paid to eligible arm's-length finders in connection with the offering, in accordance with applicable securities laws and the policies of the 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 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.

We seek Safe Harbor.