Phenom Resources Launches Core Drilling at Dobbin Gold Project in Nevada’s Carlin Trend

Dobbin Project Location and Geological Context

Situated 85 miles south of Eureka in Nevada’s Monitor Range, the Dobbin Gold Project lies within the renowned Carlin Gold Trend. This region hosts numerous past-producing mines and active gold deposits, with Phenom’s properties nearby containing an estimated 9 million ounces of gold within 5 to 15 kilometres. The project’s geological setting includes the lower plate Paleozoic carbonate sequence, a critical host for Carlin-type gold systems, and the Ordovician Eureka Quartzite at depth, which serves as a key stratigraphic marker guiding exploration.

Gold-in-Soils Anomaly Features and Importance

The Dobbin gold-in-soils anomaly spans 2.1 kilometres in length and 200 metres in width, trending northeast. Assay values within this zone range from 0.1 g/t Au up to 2.73 g/t Au (around 0.09 oz/ton), with many samples falling between these levels. This robust geochemical signature has prompted systematic drilling to investigate bedrock mineralization beneath the surface.

Dave Mathewson, Phenom’s director and Geological Advisor, described the soil anomaly as "very impressive," noting its similarity to the historic soil anomaly over the original Carlin deposit. This comparison highlights the exploration potential at Dobbin. The presence of feeder structures, typical alteration patterns, and pathfinder metals alongside gold further supports the interpretation of Carlin-type deposit characteristics in this area.

Drilling and Sampling Program Details

The approved exploration permit allows for up to 26 core drill holes, with a density of two holes per thirteen designated drill sites, enabling systematic coverage of the 2.1-kilometre strike length. Additionally, the permit includes authorization for 12 mechanical trenches totaling 5,291 feet (approximately 1,613 metres) to provide continuous surface chip sampling across the anomaly.

Mechanical trenching is expected to yield results comparable to horizontal drill holes, offering complementary geological and geochemical data. This combined approach of vertical core drilling and horizontal trench sampling constitutes a comprehensive strategy to delineate the subsurface mineralization associated with the surface anomaly.

Exploration Depth and Subsurface Evaluation Strategy

Core drilling will test mineralized zones down to about 1,200 feet (366 metres), encompassing the lower plate Paleozoic carbonate units hosting the gold-in-soils anomaly and additional carbonate sequences above the Ordovician Eureka Quartzite. This depth range allows assessment of a significant vertical section of potentially mineralized rock.

Future exploration phases may target carbonate host units beneath the Eureka Formation, indicating that current drilling focuses on upper to middle Paleozoic strata. This phased methodology prioritizes the most prospective intervals while preserving flexibility to expand targets based on initial results.

Carlin-Type Deposit Model and Exploration Justification

Carlin-type gold deposits are sediment-hosted systems defined by distinct geological and geochemical traits. Phenom and its technical advisor confirm that all essential components for a Carlin-type system exist at Dobbin, including the lower plate Paleozoic carbonate host, near-surface gold in soils, feeder structures, and characteristic alteration with pathfinder metals.

The Carlin Trend, home to Dobbin, is one of North America’s most prolific gold-producing regions, anchored by the original Carlin deposit discovered in the 1960s. The comparison of Dobbin’s soil anomaly to that historic discovery suggests significant mineralization potential at depth. While speculative regarding ultimate ore body size, this framework supports Phenom’s rationale for systematic drilling investment.

Phenom’s Diverse Nevada Gold and Vanadium Asset Portfolio

Dobbin is one of four Nevada gold projects under Phenom’s control. The company holds 100% interest in the Carlin Gold-Vanadium Project in Elko County, located 6 miles south of Carlin and near Highway I-80. This property contains the Carlin Vanadium deposit, recognized as North America’s largest and highest-grade primary vanadium resource. Phenom also owns 100% of the Crescent Valley Property, featuring a high-grade gold vein target and a critical metals IOCG (Iron-Oxide-Copper-Gold) style target. Additionally, Phenom holds options on the King Solomon gold project, another Carlin-type target in Nevada.

This diversified portfolio reflects Phenom’s strategy to explore multiple deposit types—including Carlin-type gold, vanadium, vein gold, and IOCG systems—within prolific Nevada mineral districts. Advancing drilling at Dobbin is a key part of the company’s broader exploration and development initiatives.

Qualified Person Review and Technical Oversight

Technical details in this announcement have been reviewed and approved by Paul Cowley, Phenom’s President, CEO, and director. Cowley is a Qualified Person under National Instrument 43-101, the Canadian securities regulation governing mineral exploration disclosures. This designation ensures that all technical statements have been professionally vetted by an expert with appropriate qualifications.

NI 43-101 compliance provides investors with confidence that the geological and technical information disclosed has undergone rigorous review by a competent professional.

Investor Guidance and Forward-Looking Statements

The announcement includes forward-looking statements about Phenom’s exploration plans and expected outcomes, which involve significant risks and uncertainties. Actual results may differ materially from those anticipated. Forward-looking statements are not guarantees of future performance, and investors should not assume drilling success or resource discovery.

The immediate impact on Phenom’s share price was unclear at the time of release. Investors considering Phenom or its projects are advised to perform independent research and seek professional financial advice. Exploration-stage precious metals companies face risks including potential failure to intersect economic mineralization, commodity price volatility, regulatory changes, and permitting challenges. While the start of drilling at Dobbin marks an operational milestone, it does not assure discovery of an economic ore body.