Nevada Organic preparing for drilling, grants options

Executive Summary

• Nevada Organic Phosphate announced that contractors are on‑site preparing drill pads, access roads and trails, with drilling expected to start within the next one‑to‑two days.
• The company confirmed that seasonal timing constraints have been removed, allowing the drill phase to proceed uninterrupted until completion.
• An option grant of 1.5 million stock options was approved for consultants, exercisable at $0.09 per share with a five‑year term and a four‑month hold period.

Key Details

• Drill Program Commencement
• Contractors are currently on site preparing drill pads and upgrading access roads/trails to the drill locations.
• Drill contractor mobilized today; drilling anticipated to begin within 1–2 days.

• Seasonal timing limitations have been eliminated, enabling continuous drilling through the remainder of this phase.

• Option Grant

• Board approved issuance of 1.5 million stock options to selected consultants.
• Each option allows purchase of one common share at an exercise price of $0.09 per share.
• Options vest immediately and are exercisable for a period of five years.

• Underlying shares subject to a four‑month hold period per CSE policies.

• Company Context

• Nevada Organic Phosphate is a junior exploration firm focused on a 6.6 km long organic sedimentary rock phosphate bed in northeastern Nevada, with potential extension to over 30 km.
• Project located near the main highway to Montello/Elko and close to a rail head serving California.

Notable Quotes

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