The Phantom is a Miner that died in a cave-in many years ago and is very angry because he can no longer mine for gold. The only thing he can do is haunt the mine and steal items from the living Miners. He prefers to be in darkness, so he dwells in Caverns and stores all of his stolen items there.

At the beginning of the game, players choose any Miner except for the Phantom (white-colored miner). A Cavern tile is deliberately placed at the bottom of the 20 Development Mining tiles. Then all 20 tiles are played as usual. When the first Cavern tile is played, the Phantom is placed on it.

During Production Mining, each player may choose to move the Phantom instead of his own miner during the Miner Movement phase of his turn. This includes dice rolls, single-tile movement following tile placement, and movement up to the lower dice roll after attempting to traverse a Secret Passage.

The Phantom does not follow the same movement rules as the other Miners, as he is able to traverse through solid rock. A single movement by the Phantom consists of crossing a tile boundary (either on a path or through a wall) or traversing a wall between two paths on a single tile. The Phantom must always end up on a path.

Every time the Phantom encounters a Miner on the same tile and path on which he stands, he attacks immediately. If more than one Miner is encountered, the player controlling the Phantom must decide which Miner to attack. If a Miner encounters the Phantom on the same tile and path during his own movement, movement immediately ends and he is attacked by the Phantom.

A Phantom attack consists of an attempt to steal either a Gold Nugget, a Gold Challenge token, or a Bat Challenge token. The player who is being attacked must roll both dice, with the white die indicating which item will be stolen, as follows:

1 or 2: Bat Challenge token
3 or 4: Gold Challenge token
5 or 6: Gold Nugget

If doubles are rolled, the items are safe and nothing is stolen. Otherwise, the player must give up the stolen item to the Phantom. If the player doesn't have the item, nothing is stolen.

After the attack, the Phantom returns to a Cavern with his stolen item, if he has one. The player who was attacked decides which of the four possible Cavern tiles the Phantom and the item will be placed on. Any Miners currently in the chosen Cavern must immediately be moved to an adjacent tile and path by the players who control them.

If the Phantom attacks the player whose turn it currently is, the current turn immediately ends after the attack (i.e. the player may not continue to the Miner Action phase of his turn). If a player moves the Phantom to attack another player, the player proceeds with the Miner Action phase of his turn after the Phantom attack.

Items that have been stolen by the Phantom and placed on a Cavern tile may be collected by any player that enters the Cavern, on the Miner Action phase of the turn. If more than one stolen item is present, all of the items may be retrieved simultaneously. Bat and Gold Challenge tokens that are collected from a Cavern may be used in the usual manner and on the same turn, if desired.

At the end of the game, if the Phantom is on the Mine Entrance tile, any player attempting to exit the mine must withstand a Phantom attack first. If the Phantom steals a Gold Nugget and the player no longer has the required number of Gold Nuggets, he does not win the game.