Phenom Resources Corp. (TSX-V: PHNM) (OTCQX: PHNMF) (FSE: 1PY0) announces that it has closed the first tranche of its non-brokered private placement previously announced on October 3, 2022. Under the First Tranche, the Company has issued 4,090,334 Units for gross proceeds of $1,227,100.20. In connection with the First Tranche, the Company paid a total of $16,740 as finder’s fees.

All securities issued under the First Tranche are subject to a hold period expiring February 22, 2023, in accordance with applicable securities laws and the policies of the TSX Venture Exchange.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States of America. The securities have not been and will not be registered under the United States Securities Act of 1933 (the “1933 Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons (as defined in the 1933 Act) unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration is available.

About Phenom Resources Corp.

Phenom (formerly First Vanadium Corp.) has 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 property lies in the southern parts of Carlin Gold Trend. The Carlin Gold-Vanadium Project also hosts the Carlin Vanadium deposit.