Rare Earth & Critical Metals Discover At Crescent Valley Property

VANCOUVER – Phenom Resources Corp. has discovered a significant Rare Earth Element (REE) and Critical Metals deposit on its Crescent Valley Property, about 22 km (13 miles) southwest of Carlin, Nevada. Mineralized drill intercepts start from surface. Principal metals of value include Rubidium, Hafnium, Scandium and Neodymium with lesser amounts of Dysprosium, Praseodymium, Cerium, Europium, Niobium, Strontium, Terbium and Yittrium, all on the US Geological Survey critical metals list considered vital to the U.S. economy and national security that face potential risks from disrupted supply chains.
The new deposit is an Iron Oxide Copper Gold (IOCG) deposit-type, a magnetite-tourmaline-pyrrhotite-pyrite breccia body with appreciable REE and Critical Metals content. Drill holes CVN24-02 (drilling in 2024) and CVN25-04 (drilling in October 2025), and a 75-metre-long continuous surface chip sample completed in summer 2025, all located at the north part of the breccia body, have returned near surface similar and reproducible elevated values in these metals over an area of 100 metres (330′) wide by 150 metres (500′) long. The repeatable elevated values have given us the confidence to declare this a Critical Metals deposit discovery and to extrapolate on the potential opportunity.
Although early in its evaluation, the deposit is presumed to have dimensions in the order of 600 metres (1970 feet) wide (east-west), at least 200 metres (650 feet) thick (vertically) and at least 1 kilometre (3280 feet) long (north-south) based on the Company’s 2024 IP geophysical program completed by Zonge International Inc. and guided and interpreted by Jim Wright of Wright Geophysics. The IP program identified a continuous high chargeability anomaly coincide with and expressed as a near surface flat and long body which has now been ground-truthed by the two RC drill holes and surface chip sampling. A ground magnetic survey performed by Zonge 2012, was also used by Dave Mathewson to help guide the placement of two drill hole. The chargeability anomaly/REE and Critical Metals deposit is open to the north and requires additional IP lines to fully determine its length. IOCG deposits generally have a pipe configuration. Additional infill IP lines may help define the pipe root size and configuration. The Company intends on expanding the IP survey as soon as possible.