Nevada Organic Phosphate Announces Preparations for Drill Program Now Underway and Option Grant

Executive Summary

• Nevada Organic Phosphate announces that drill contractors are on‑site, road access is being upgraded and drilling will begin within the next few days, removing previous seasonal constraints.
• The company has approved issuance of 1,500,000 stock options to consultants at an exercise price of $0.09 per share, each vesting immediately with a five‑year term and a four‑month hold period.

Key Details

• Contractors are preparing drill pads and upgrading access roads/trails to the drill sites in northeast Nevada.
• Drill contractor mobilized today; drilling expected to start within 1–2 days.
• Seasonal timing limitations have been removed, allowing continuous drilling until the current phase is completed.
• Stock option grant: 1,500,000 options issued to consultants for up to 1,500,000 common shares under the Company’s Stock Option Plan.
• Exercise price: $0.09 per share; each option vests immediately and is exercisable for five (5) years.
• Options and underlying shares subject to a four‑month hold period per CSE policies.

Notable Quotes

“We’re thrilled to begin our long‑awaited drilling program,” said Robin Dow, CEO of Nevada Organic Phosphate. “Drilling is expected to commence within the next day or two, marking a significant milestone for our team.”