Phenom Resources: White House pledges to ‘secure a made-in-America supply chain for critical minerals’

Vancouver, British Columbia–(Newsfile Corp. – March 8, 2022) – Phenom Resources Corp. (TSXV: PHNM) (OTCQX: PHNMF) (FSE: 1PY0) (“Phenom” or the “Company“) (formerly First Vanadium Corp) is pleased to provide excerpts from a February 22, 2022 White House Press Office statement regarding the Biden administration’s commitment to Securing a Made in America supply chain for critical minerals, particularly for batteries and how this potentially applies to the Phenom vanadium deposit in Nevada.

Why it matters to Phenom

Vanadium is classified by the United States as an essential mineral for homeland security because approximately 75% of the world’s vanadium production comes from China and Russia. Vanadium is part of the green power solution in large stationary vanadium redox flow batteries marketed in large battery storage applications such as solar and wind farms around the world. Over the next two years, the United States is expected to become the world’s largest market for stationary energy storage. The Biden administration will ask agencies to prioritize the production and processing of minerals needed to make key products like batteries. As the Company has the largest, highest-grade primary vanadium deposit in North America, located in Nevada, these are favorable policies and developments to move the project forward.

FACT SHEET: Securing a Made in America Supply Chain for Critical Minerals; Biden-Harris Administration and Companies Announce Major Investments to Expand National Supply Chain of Critical Minerals, Break Dependence on China and Boost Sustainable Practiceshttps://www.whitehouse.gov/briefing-room/statements-releases/2022/02/22/fact-sheet-securing-a-made-in-america-supply-chain-for-critical-minerals/.

Excerpts follow:

“Critical minerals provide the building blocks for many modern technologies and are essential to our national security and economic prosperity.” “They are also key inputs into clean energy technologies like batteries, electric vehicles, wind turbines and solar panels. As the world transitions to a clean energy economy, global demand for these critical minerals is expected to skyrocket 400-600% over the next few decades.” “The United States is increasingly dependent on foreign sources for many processed versions of these minerals. Globally, China controls most market for the processing and refining of cobalt, lithium, rare earths and other critical minerals.

“In June, the Biden-Harris administration released a first-of-its-kind “Supply Chain Assessment” that revealed that our overreliance on foreign sources and adversarial countries for critical minerals and materials posed a threat to national and economic security.” “In addition to working with partners and allies to diversify sustainable sources, the reports recommended expanding domestic mining, production, processing and recycling of critical minerals and materials, all while putting the emphasis on building labor, environmental and environmental justice, community engagement, and tribal consultation standards.”

“To focus the work of federal agencies on the supply of critical minerals, the administration will direct agencies to prioritize the production and processing of minerals needed to manufacture key products such as batteries, semiconductors and permanent magnets, in accordance with our strong environmental, social and labor principles.”

The “Supply Chain Assessment” included a report titled HEAVY DUTY BATTERY REVIEW by the ENERGY DEPARTMENT. Here are excerpts from that report:

“The high-capacity battery market is arguably one of the most critical to our nation’s interests.”

“Global capacity estimates vary by source, but installed stationary battery storage capacity is expected to increase from 8 gigawatt hours (GWh) in 2018 to 155 GWh in 2030, an increase of nearly twenty times. Currently, Korea , Japan and the United States are respectively the world’s three largest markets for stationary battery storage.In the next two years, the United States is expected to become the world’s largest stationary storage market, and by 2050 , China, the United States and India are expected to be the world’s three largest markets.”

About Phenom Resources Corp.
Phenom (formerly First Vanadium Corp.) has an option to acquire a 100% interest in the Carlin Gold-Vanadium project and Section 22 property, located in Elko County, 6 miles south of the town of Carlin, Nevada and the I-80 freeway. Both properties are in the southern portions of Carlin Gold Trend. The Carlin Gold-Vanadium project also hosts the Carlin Vanadium deposit. Phenom also has an option from Dave Mathewson to gain 100% in the SMOKE property located in Nevada’s Independence-Eureka trend.

ON BEHALF OF PHENOM RESOURCES CORP.

by: “Paul Cowley”
CEO and President
(604) 340-7711
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www.phenomresources.com

The technical disclosure in this press release has been reviewed and approved by Dave Mathewson, the Company’s Geological Advisor and a Qualified Person as defined by NI 43-101.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-looking information
Certain statements contained in this press release constitute “forward-looking” statements. These statements relate to future events or the future performance of the Company and include the Company’s ability to meet its obligations under the Access and Mining Lease Agreement and the conditions required to fully exercise its option to acquire the Carlin Vanadium project, and to fund and drill test the interpreted gold target. All of these statements involve substantial known and unknown risks, uncertainties and other factors that may cause actual results to differ from those expressed or implied by such forward-looking statements. Forward-looking statements involve significant risks and uncertainties, should not be construed as guarantees of future performance or results, and will not necessarily be specific indications as to whether or not such results will be achieved. Actual results could differ materially from those anticipated due to a number of factors and risks. Although the forward-looking statements contained in this press release are based on what management of the Company considers to be reasonable assumptions as of the date of this press release, the Company cannot assure investors that actual results will be consistent with such statements. forward-looking statements. The forward-looking statements contained in this press release are made as of the date hereof, and the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, unless necessary. under applicable securities regulations.

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