PHNMF - Phenom Resources acquires 100% of Carlin Gold-Vanadium project

Phenom Resources (OTCQX:PHNMF) completed all work commitments and option payments, including the final $955,000 cash payment, under its option agreement to acquire the Carlin Gold-Vanadium Project. Company now owns 100% of the Carlin Gold-Vanadium Project subject to a 2% NSR royalty which may be purchased by the Company at any time on or before June 30, 2027, for $4M and up to four annual payments of $250,000. Company also announces the proposed issuance of 87,500 common shares of the company as bonus shares to Buena Tierra Developments. Paul Cowley, President & CEO, stated: "We are committed to this project, having advanced it with over $15 million of spending since fall 2017, more than the required US$1.02 million within the option agreement. This is truly a very satisfying milestone to now own 100% of the Carlin Gold-Vanadium Project."

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Phenom Resources acquires 100% of Carlin Gold-Vanadium project