RGC were beaten 33-31 by Ebbw Vale in a remarkable game of two halves which saw the Gogs recover from 25 points down to briefly take the lead, only to be denied by a late try.
The result keeps Ebbw Vale unbeaten after the opening three rounds of the SRC season, while RGC return North with two bonus points following a dramatic afternoon.
RGC made the perfect start at Eugene Cross Park, with Billy McBryde opening the scoring with a penalty after just five minutes.
But Ebbw Vale soon began to impose themselves, with handling errors costing RGC possession and the home side finding increasing success in attack.
A pass opened up space for centre Phillips to race through for the first try, with former RGC fly-half Harri Ford converting on his Ebbw Vale debut.
The Steelmen extended their lead when prop Luke Garrett crossed following another spell of pressure, with Ford again adding the extras.
RGC were also forced into an early change when prop Jessie Williams was forced off after 20 minutes, with Gareth Parry coming on.
The pressure continued and Ebbw Vale added a third try through Ryan Jenkins, again converted by Ford.
RGC's afternoon became even more difficult when Sam Williams was shown a yellow card, and Ebbw Vale took advantage of the extra man as Morgan Rees crossed for their fourth try.
Ford's conversion left the hosts 28-3 ahead.
But RGC finished the half strongly and finally found a way through.
Tudur Jones worked hard to bring the backline into the game and, following a quick tap penalty, Huw Davies crashed over for a much-needed try. McBryde produced an excellent conversion from the touchline to give the Gogs hope at the interval.
The second half was a completely different contest.
RGC returned with greater pace and purpose, carrying the ball aggressively into the Ebbw Vale defence. Huw Davies was prominent, while the Gogs also benefited from a yellow card for Ebbw Vale's Ieuan Morris.
Despite being down to 14 men, Ebbw Vale continued to control territory for long periods, with Ford's kicking repeatedly pinning RGC back.
But the Gogs' defence stood firm before the comeback gathered real momentum.
RGC's forwards drove towards the line and Sam Williams crossed for the score. McBryde converted to reduce the deficit.
Just a minute later, Williams was over again.
Another successful conversion from McBryde brought RGC to within four points with 12 minutes remaining.
Suddenly, the momentum was entirely with the visitors.
RGC continued to go through the phases and, on 73 minutes, they completed an extraordinary turnaround.
Tudur Jones wriggled free from a tackle, found a gap and raced through to score. McBryde converted once again and RGC had gone from 28-3 down to lead 31-28.
But Ebbw Vale had the final say.
With just two minutes remaining, the home side regained possession and moved the ball wide, allowing Dafydd Thomas to race over for the decisive try.
Ford added the conversion to put Ebbw Vale back in front at 33-31.
RGC had one final opportunity but could not find another score, ending a remarkable comeback without the victory.
The Gogs had scored 28 unanswered points to overturn a 25-point deficit, but Ebbw Vale's late response was enough to maintain their unbeaten start to the season.
RGC take two bonus points back to North Wales from a dramatic third-round encounter.