Phenom Accelerates Acquisition of 100% Interest in Dobbin Property
Phenom exercises its option to acquire the Dobbin project from SSR Mining as September assay results approach.
Phenom Resources Corp. has completed all remaining payments and work expenditures to fully exercise its option, securing a 100% interest in the Dobbin Project in central Nevada. The acceleration of the option exercise was facilitated at the suggestion of SSR Mining to enable SSR’s planned US$4 million funding and joint venture into the project.
Diamond drilling at Dobbin is currently underway, with first assay results expected in September. Phenom anticipates finalizing the strategic investment by SSR, which involves US$4 million for a 15% project interest, before the end of August 2026. The transaction includes a 3% NSR royalty granted to the original owner, with a right to buy back 1% for US$1 million.
Phenom Resources Corp. (PHNM) has moved into the execution phase of its June 1, 2026 Letter of Intent and the subsequent June 29, 2026 financing. The market was already aware of the strategic partnership with SSR, the $5.4 million private placement, and the framework for the $4 million Dobbin joint venture.
The completion of the option exercise serves as a procedural milestone that removes a prior earn-in hurdle, though it does not introduce fundamentally new valuation drivers. The primary forward-looking element remains the September assay results from the ongoing drilling program. Management’s timeline sets a clear near-term catalyst, but until results are published, the impact remains incremental.
The 3% NSR royalty is a standard industry term for option exercises and does not materially alter the project economics at this exploration stage. The news confirms management’s execution capability and maintains strategic alignment with a major producer, but it is expected and routine relative to the June announcements.
Phenom Resources Corp. (PHNM) is a pre-revenue junior explorer managing a diversified portfolio of gold and critical metal projects in Nevada. Its flagship asset is the Dobbin Gold Project, situated in central Nevada on the southern extension of the Independent-Eureka gold trend. The project targets a regional Carlin-type gold system and features a 2.1 km long by 200 m wide gold-in-soil anomaly with values up to 2.73 g/t Au, supported by strong arsenic and mercury pathfinders.
The company’s additional assets include the Crescent Valley project, which hosts a Bonanza-type epithermal gold and IOCG rare-earth/critical metals deposit; the King Solomon project, a Carlin-type gold-silver-antimony deposit; and the Carlin Gold-Vanadium Project. Management aims to split these assets into two standalone companies, one focused on gold and the other on vanadium. The strategy also involves leveraging a 5% equity stake in MK Plus (Vanadis Energy) to support vanadium solid-state battery commercialization.