Phenom Announces Closing of $5.41 Million Financing, Strategic Investor and Execution of Framework Agreement Relating to the Dobbin Project

About this update from Phenom Resources Corp

Vancouver, British Columbia--(Newsfile Corp. - June 29, 2026) - Phenom Resources Corp. (TSXV: PHNM) (FSE: 1PY0) ("Phenom" or the "Company") is pleased to announce that further to its news release of June 1, 2026, it has now closed a non-brokered private placement, issuing 13,529,340 common shares (the "Shares") at a price of CAD$0.40 per share for gross proceeds of CAD$5,411,736 (the "Private Placement"). US$1.3 million of the proceeds from the Private Placement will be used to fulfill the remaining payment and work commitments owed by the Company to fully earn a 100% interest in the Dobbin Project located in Nevada, USA, while US$2.5 million will be available for unallocated general working capital of the Company; with the balance of the subscription price being used for general working capital purposes relating to the Dobbin Project. The sole investor in the Private Placement was an affiliate of SSR Mining Inc. ("SSR"). SSR now holds approximately 9.9% of Phenom's outstanding shares on an undiluted basis, positioning them as a significant shareholder. Paul Cowley, Phenom's CEO & President stated, "The Company is very pleased to welcome SSR as a new strategic investor. For the third largest gold producer in America to back the Company, its geological team and Dobbin even before a single drill there, in my view is exceptional and reinforces the opportunity at Dobbin. Furthermore, the terms (price and no warrants) and magnitude of the Private Placement are significantly beneficial for our share structure and provides substantial funds for drilling Dobbin this summer." The Shares are subject to a hold period expiring October 26, 2026, in accordance with applicable securities laws and the policies of the TSX Venture Exchange ("TSXV"). In addition, SSR has agreed to voluntarily restrict the disposition of the Shares for a period of one (1) year from the closing date (the "Restricted Period"); provided that SSR may sell up to an aggregate of 500,000 Shares in any calendar month during the Restricted Period, upon prior written notice to Phenom. This limit is fixed for each month, and any undisposed Shares for a particular month will not be added to the next or any succeeding month's limit. Concurrent with the closing of the Private Placement, the Company and SSR have entered into an Investor Rights Agreement pursuant to which, among other things, for so lon...

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