August 18, 2026 – Vancouver, British Columbia – Phenom Resources Corp. (TSX-V: PHNM) (OTCQX®: PHNMF) (FSE: 1PY0) (“Phenom” or the “Company”) announces that it has completed the final payments and work expenditures required to exercise the option (the “Option”) to acquire a 100% interest in the Dobbin property (the “Dobbin Project”). The Dobbin Project located in central Nevada lies on the southern extension of the Independent-Eureka gold trend and displays all of the ingredients of a regional Carlin-type gold system which the Company is currently drilling. The ownership acceleration was at the suggestion of SSR Mining (SSR) in order to promptly facilitate the next step of their planned US$4 million funding and joint venturing of Dobbin.
Paul Cowley, Company President and CEO states, “Diamond drilling is progressing well at Dobbin, facilitated by the funds invested by SSR in late June to acquire 9.9% interest in the Company. First assay results on Dobbin are expected in September. With the acceleration of ownership of Dobbin, the Company anticipates finalizing the next strategic investment by SSR before the end of the month.”
As previously announced, the Company and an affiliate of SSR Mining Inc. (“SSR”) entered into a Framework Agreement pursuant to which the Company granted to SSR the right to acquire, in SSR’s sole discretion, a 15% interest in the Dobbin Project for a further US$4,000,000, which acquisition is proposed to be completed within 10 business days (or such later date as agreed to by the parties) of the Company having completed its property option payments and acquired a 100% interest in the Dobbin Project. Refer to the Company’s news release of June 29, 2026, for further details on the Framework Agreement.
The Company acquired a 100% interest in the Dobbin Project pursuant to an option agreement dated September 4, 2023, as amended by an assignment and assumption of interest in property option agreement dated January 11, 2024 (together, the “Option Agreement”). Pursuant to the Option Agreement, the Company reimbursed the Owner (as such term is defined in the Option Agreement) for staking costs, paid the Owner an aggregate US$150,000 in cash, and expended an aggregate of US$2,000,000 in exploration expenditures on the Dobbin Project. In conjunction with the full exercise of the Option, the Company granted the Owner a 3% NSR royalty and has the right to buy a 1% NSR royalty at any time by making a payment of $1,000,000 to the Owner.
About Phenom Resources Corp.
Phenom has 100% interest in the Carlin Gold-Vanadium Project, located in Elko County, 6 miles south from the town of Carlin, Nevada and Highway I-80 which hosts the Carlin Vanadium deposit, North America’s largest highest grade primary vanadium resource. The Project lies within the prolific Carlin Gold Trend. Approximately 9 million ounces comprised of multiple gold deposits, including past producing mines, are present near the Phenom property (5-15km). The Company has earned a 100% interest in the Dobbin Gold property, a Carlin Gold-type target and Crescent Valley Property, which has a Bonanza high grade gold vein-type and a critical metals IOCG-type target. In addition, the Company has an option on another gold project in Nevada, the King Solomon property, which is a Carlin Gold-type target.
ON BEHALF OF PHENOM RESOURCES CORP.
per: “Paul Cowley”
CEO & President
(604) 340-7711
pcowley@phenomresources.com
www.phenomresources.com
Technical disclosure in this news release has been reviewed and approved by Paul Cowley, a Qualified Person as defined by National Instrument 43-101, President, CEO and director of the Company.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-looking information
Certain statements in this news release constitute “forward-looking” statements. These statements relate to future events or the Company’s future performance and include, but is not limited to, statements regarding the Company’s NSR buy back rights and any future exercise thereof, SSR’s right to purchase…
