Mr. Paul Cowley of Phenom reports

SSR MINING ACQUIRES 15% INTEREST IN DOBBIN PROJECT AND ENTERS INTO JOINT VENTURE ARRANGEMENT WITH PHENOM'S SUBSIDIARY, COPPER ONE USA, INC.

Further to the news releases of June 29, 2026, and Aug. 18, 2026, an affiliate of SSR Mining Inc. has exercised its right to acquire a 15-per-cent interest in Phenom Resources Corp.'s Dobbin project for $4-million (U.S.).

In furtherance of the acquisition and resulting joint venture, the company's subsidiary Copper One USA Inc. and SSR have incorporated a Nevada limited liability company, under which they will carry out their joint venture of the Dobbin project, with Copper One owning an initial 85-per-cent interest and SSR owning an initial 15-per-cent interest in the JV company. Pursuant to the terms of the JV company's operating agreement, Copper One has transferred the Dobbin project claims to the JV company, and SSR has delivered the initial contribution to the JV company, which funds will be used solely to finance the advancement of the Dobbin project. When the initial contribution is depleted, the parties will make additional capital contributions to further exploration and development on the Dobbin project pro rata in proportion to their respective interests in the JV company, subject to standard dilution provisions. In the event that a party's interest is reduced to less than 10 per cent, such party will cease to be a member of the JV company and will receive an up-to-2-per-cent net smelter return royalty on production from the Dobbin project. In the event that either party wishes to sell or transfer its interest in the JV company, the other party has a right of first refusal to acquire the interest. Copper One will be the initial manager of the JV company and will retain operational control over the Dobbin project while it holds a majority interest in the JV company.

Paul Cowley, company president and chief executive officer, stated: "We are very pleased to have SSR as our largest shareholder and now as our partner in advancing the Dobbin project, both of which reflect the high calibre of the company and the project. Combined, SSR's investment in Phenom and the initial contribution have provided approximately $11-million in funding, which will support planned exploration activities through the remainder of the 2026 drilling season and when exploration activities resume in early summer 2027. We look forward to benefiting from SSR's added technical expertise and input as we continue to advance the project."

About Phenom Resources Corp.

Phenom has a 100-per-cent interest in the Dobbin gold property, a Carlin-gold-type target, the Crescent Valley property, a bonanza high-grade gold vein-type and a critical metal iron-oxide-gold-copper-type target, and the Carlin gold-vanadium project, which hosts the Carlin vanadium deposit, North America's largest highest-grade primary vanadium resource. In addition, the company has an option on another gold project in Nevada, the King Solomon property, which is a Carlin-gold-type target.

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