Vancouver, British Columbia--(Newsfile Corp. - August 18, 2026) - Phenom Resources Corp. (TSXV: 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 "DobbinProject"). The Dobbin Project located in central Nevada lies on the southern extension of the Independent-Eureka gold trend and displays all of the ingrediencies 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.

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 15% of the Dobbin Project, the intended use of funds should SSR exercise its right to acquire a 15% interest in the Dobbin Project, and other statements that are not historical facts. 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. Readers should not place undue reliance on 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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/310202

Source: Phenom Resources Corp.