Phenom Resources Corp. announced that it has entered into an option agreement to acquire up to a 100% interest in the King Solomon Gold Project (the "Project") consisting of 178 claims covering approximately 1,140 hectares (3,560 acres) in central Nevada. The Project lies 32 kilometres (km) south for the Company's Dobbin Gold Project.

Like Dobbin, the King Solomon Project covers a regional-scale Carlin-type gold system. The King Solomon Project is also 45 km east of Kinross Gold's Round Mountain gold deposit, (10 million ounce gold production over a 20 year period, according to public disclosure), and 45 km southeast of the sediment-hosted Northumberland Carlin-type gold deposit. There is excellent potential for discovery of significant Carlin-type gold deposits there.

Previous explorers, appear to not have understood the full extent of, and significance of, the stratigraphy or gold model. Typical of earlier 1990's explorers, drilling was largely limited to shallow tests of 90m to 122m deep (300-400 feet), and was primarily focused on the potential within the overlying Tertiary volcanic rocks. Significant near surface gold intercepts within Tertiary volcanics which, noteworthy as they are, suggest a bigger potential within the underlying more permissive, Paleozoic carbonate package.

Earlier explorers barely penetrated into the more prospective rock units, and only scratched the surface of this prospect. The carbonate sequence below the volcanics at King Solomon which I have identified include favourable gold host rock formations such as the Denay, Rabbit Hill, Roberts Mountain and Pogonip limestone Formations, with a collective thickness well in excess of 1000 feet. Phenom will have the right to purchase up to a 2% NSR for USD 3.0 million at any time, leaving the vendors with a 1% NSR. Advanced Royalty payments will be required thereafter under a schedule of USD 60,000 per year from years 5-10, USD 75,000 per year from years 11-15 and USD 100,000 per year thereafter until production.

Any additional claims staked within an Area of Interest around the current property would fall under the terms of the agreement. The Company has a 25-day due diligence period. All securities issued in connection with the property option will be subject to a four-month-and-one-day statutory hold period.

The agreement remains subject to the approval of the TSX Venture Exchange.