22:23:12 EDT Wed 22 Apr 2026
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Nevada Organic Phosphate Inc
Symbol NOP
Shares Issued 127,997,005
Close 2026-04-22 C$ 0.19
Market Cap C$ 24,319,431
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Nevada Organic finalizing NEPA requirements for EAs

2026-04-22 19:28 ET - News Release

Mr. Robin Dow reports

NEVADA ORGANIC PHOSPHATE PROVIDES UPDATE ON ITS 3 ADDITIONAL APPLICATIONS TO PROSPECT IN 2026

Nevada Organic Phosphate Inc. has provided an update on the current exploration activities at Murdock Mountain. Nevada Organic has received a number of queries on the status of Nevada Organic's three additional applications to prospect.

The Bureau of Land Management (BLM) has accepted Nevada Organic's three new applications for phosphate prospecting, filed by Nevada Phosphate Exploration NV Inc., a wholly owned subsidiary of Nevada Organic. These three new applications add an additional 6,011 acres of potential phosphate resource to Nevada Organic's existing Nevagro permit, covering 1,813 acres.

Chief executive officer Robin Dow stated: "This expansion of our application footprint is the result of careful geological work and steady progress through the regulatory framework. We will continue to move forward responsibly, ensuring that each stage of exploration is supported by sound data and full compliance with NEPA and BLM processes."

Nevada Organic is currently working with its environmental consultants to finalize the National Environmental Policy Act (NEPA) requirements for environmental assessments. These are necessary to fulfill the BLM's requirements for granting exploration permits. All new applications fall outside of any sage grouse or general habitat management areas. Based on this and on the company's recent experience, Nevada Organic is optimistic that the review process may progress more efficiently than the previous Nevagro application.

The Murdock Mountain property hosts a nearly flat-lying sedimentary phosphate horizon within the Meade Peak formation. The initial 1,813-acre Nevagro exploration permit area is interpreted to contain an exploration target mineral inventory (ETMI) of 10 million to 46 million tonnes, grading 3 per cent to 15 per cent P2O5, based on an average thickness of 3.5 metres and a specific gravity of 2.6. These ranges are derived from historical mapping and academic research and have not been verified by Nevada Organic under current National Instrument 43-101 standards.

To date, the first six drill holes completed by Nevada Organic have returned an average grade of 10.95 per cent P2O5 over a true thickness of 4.20 metres (13.8 feet), consistent with the geological model for the upper phosphatic zone.

Garry Smith, PGeo, director, stated: "The current phase of work is about building the technical confidence needed to support future decisions. Our team will continue collecting the geological, structural and analytical data required to determine whether a mineral resource estimate can be prepared in accordance with NI 43-101. We are advancing each step carefully and in full alignment with regulatory and scientific standards."

Based on the initial ETMI parameters (3 per cent to 15 per cent P2O5, 3.5 m average thickness, SG 2.6), the three new applications to prospect increase the conceptual exploration potential to more than 200 million tonnes of phosphate-bearing material. The combined Nevagro permit and new applications can be grouped into four areas:

The strike length of the Meade Peak upper phosphate zone is not a primary focus because of the nearly flat-lying nature of the mineralization. Tonnes per section are more the focus of exploration.

While strike length has increased from approximately 6.6 kilometres to 26 to 33.4 kilometres, the company notes that, due to the flat-lying geometry of the mineralization, tonnes per section remain the more relevant metric for exploration planning.

Cautionary statement

The potential quantity and grade of the exploration target mineral inventory (ETMI) disclosed herein are conceptual in nature. There has been insufficient exploration to define a mineral resource and it is uncertain if further exploration will result in the delineation of a mineral resource. The ETMI is not being reported as part of any mineral resource or mineral reserve estimate. The ranges presented are based on geological mapping, outcrop and trench sampling, and no economic analysis has been completed. Investors are cautioned that exploration targets must not be used as a proxy for mineral resources or reserves.

The technical information in this news release has been reviewed and approved by Garry K. Smith, PGeo, a director of Nevada Organic and qualified person as defined in National Instrument 43-101, Standards of Disclosure for Mineral Projects.

About Nevada Organic Phosphate Inc.

Nevada Organic is a junior exploration company with an organic sedimentary raw rock phosphate bed, 6.6 kilometres long, in northeastern Nevada. Additional applications extend the potential strike of rock phosphate to over 30 kilometres. This is believed to be the only known large-scale organic sedimentary phosphate project in North America. It is situated close to the main highway to Montello/Elko, Nev., and near the rail head to California or the East Coast.

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