Phenom Resources Engages Cassidy & Associates to Guide in U.S. Federal Funding Opportunities to Advance Vanadium Project

April 05, 2022 10:00 AM EDT | Source: Phenom Resources Corp.

Elko, Nevada--(Newsfile Corp. - April 5, 2022) -  Phenom Resources Corp. (TSXV: PHNM) (OTCQX: PHNMF) (FSE: 1PY0) ("Phenom" or the "Company") (formerly First Vanadium Corp) is pleased to announce that it has engaged Cassidy & Associates, Inc. (Cassidy) based in Washington, DC to help identify and determine U.S. federal funding opportunities to foster additional support and resources for the Company's vanadium project.

"The Biden Administration has made clear its strong commitment to securing domestic critical mineral supply chains by invoking the Defense Production Act for battery materials and making historic investments in the billions for battery materials processing through the recently passed Infrastructure Investment and Jobs Act, among other laws." said Paul Cowley, Company President & CEO, "Through this partnership with Cassidy, we hope to identify pathways to garner federal support and funding resources for our project, which would diversify Nevada's critical minerals portfolio and deliver high grade U.S. vanadium to help meet increased infrastructure and clean energy demands, as well as improve national security."

Over the past year, the U.S. has demonstrated its commitment to securing a robust domestic critical minerals supply chain to support needed infrastructure improvements, a growing clean energy economy, and enhanced national security. Phenom stands to benefit from this renewed focus as the company with North America's largest highest-grade primary vanadium deposit.

Vanadium, deemed a critical mineral in the U.S., has a vital role to play in strengthening the steel used in infrastructure projects and providing a superior alternative to the lithium battery used in energy storage. Additionally, boosting domestic production of the metal will reduce reliance on resources from China and Russia, which currently produce approximately 75% of the world's vanadium.

In working with Cassidy, the Company will identify and evaluate a range of opportunities to engage with key federal decision makers on issues related to domestic critical minerals supply chains.

Background on Cassidy

Founded in 1975, Cassidy is a leading bipartisan government relations firm with particular expertise in responsible mineral resource development, clean energy innovation, and public lands conservation. Their exceptional team of Washington's brightest professionals create and execute strategies that achieve their clients' goals and protect their interests, regardless of the political environment.

About Phenom Resources Corp.

Phenom (formerly First Vanadium Corp.) has an option to earn a 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. The project lie in the southern parts of Carlin Gold Trend. The Carlin Gold-Vanadium Project also hosts the Carlin Vanadium deposit. Phenom also has an option from Dave Mathewson to earn 100% in the SMOKE gold Property located in the Independence-Eureka trend of Nevada.


per: "Paul Cowley" CEO & President
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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 the Company's ability to meet its obligations under the Access and Mineral Lease Agreement and the conditions required to exercise in full its option to acquire the Carlin Vanadium project, and to finance and drill test the interpreted gold target. All such statements involve substantial known and unknown risks, uncertainties and other factors which may cause the actual results to vary from those expressed or implied by such forward-looking statements. Forward-looking statements involve significant risks and uncertainties, they should not be read as guarantees of future performance or results, and they will not necessarily be accurate indications of whether or not such results will be achieved. Actual results could differ materially from those anticipated due to a number of factors and risks. Although the forward-looking statements contained in this news release are based upon what management of the Company believes are reasonable assumptions on the date of this news release, the Company cannot assure investors that actual results will be consistent with these forward-looking statements. The forward-looking statements contained in this press release are made as of the date hereof and the Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required under applicable securities regulations.

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