Phenom Resumes Drilling at Crescent Valley
March 4, 2026 – Vancouver, British Columbia – Phenom Resources Corp. (TSX-V: PHNM) (OTCQX®: PHNMF) (FSE: 1PY0) (“Phenom” or the “Company”) is pleased to announce that following its January 22, 2026 announcement of further validating its Bonanza-type low sulphidation epithermal gold model and target with the fall 2025 drilling at the Company’s Crescent Valley Gold Project, and with the benefit of unseasonably warm and dry winter conditions, the Company has been able to mobilize a follow-up drilling campaign at Crescent Valley.
This also follows the Company’s announcement January 12, 2026, of the discovery of a rare Earth and Critical metals deposit at Crescent Valley and the expansion of the property size. The Crescent Valley project is about 22 km (13 miles) southwest of Carlin, NV, strategically located along the southwest fringe of the Carlin Gold Trend within the prospective Northern Nevada Rift, Nevada.To advance the Bonanza-type low sulphidation epithermal gold target in this drilling campaign, the Company plans to build onto the encouragements of hole CVN25-03 with three additional RC holes with 100 metre (328 foot) step-outs. The first angle hole, CVN26-05, below CVN25-03, was just completed to a depth of 506m (1660ft) with all samples delivered to the lab for assaying. A large quartz flooded zone was encountered from 275m to 411m (900-1350ft). Details with be provided when assays are available.
As previously reported, CVN25-03 saw a dramatic increase in gold presence with over half of the hole reporting elevated gold values, a dramatic increase in volume of quartz veining, and evidence of boiling starting at a depth of 700 feet.
To advance the IOCG rare Earth and Critical metals deposit evaluation in this drilling campaign, the Company plans for a 100 metre step-out from CVN25-04 with one hole, in efforts to target a feeder pipe suggested from the 2024 IP survey.
Characteristics of the Vein System on Crescent Valley
The 5-6-kilometre-plus-long range-front-margin quartz vein system is accompanied with zone of multi-event, silica-healed, hydrothermal breccias. Multiple quartz veins individually, locally reach up to 30 metres (100ft) thick. At and near surface, portions of the veins display repetitive banding, coarsely-bladed calcite, and quartz pseudomorphs of the calcite, within larger zones of phreatic-type brecciation that both typically represent above-boiling activity within zones of ascending hydrothermal fluids occurring above the prospective depositional levels of gold.
Low Sulphidation Deposits in Nevada
There are a number of low sulfidation epithermal gold deposits in Nevada known for their very high grades in gold and silver including Goldfields, the famous Comstock Mine, Midas, Tuscarora, and Sleeper Mine. Comstock was so rich it served as an important funding contributor to the successful Union Army cause during the Civil War. Sleeper was a very high-grade gold mine discovered and mined by AMAX Gold. Midas and Tuscarora are also near to, and on the flank of the Carlin Trend.
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 options on three gold projects in Nevada, the King Solomon and Dobbin Properties which are Carlin Gold-type targets and the Crescent Valley Property.
ON BEHALF OF PHENOM RESOURCES CORP.
per: “Paul Cowley”
CEO & President
