Mr. Robin Dow reports
NEVADA ORGANIC PHOSPHATE ANNOUNCES PREPARATIONS FOR DRILL PROGRAM NOW UNDERWAY AND OPTION GRANT
Nevada Organic Phosphate Inc. has released the following material update regarding its continuing drill program:
- Contractors are now on site, preparing drill pads and upgrading access roads and trails to the drill sites.
- The drill contractor is mobilizing to the property today and drilling will commence shortly.
- The drill program is no longer constrained by seasonal timing limitations and will continue until this phase is completed.
"We're thrilled to begin our long-awaited drilling program," said Robin Dow, chief executive officer of Nevada Organic Phosphate. "Drilling is expected to commence within the next day or two, marking a significant milestone for our team."
The company also announces that it has approved the issuance of 1.5 million stock options to certain consultants of the company for the purchase of up to 1.5 million common shares in the capital of the company pursuant to the company's stock option plan. Each option vested immediately and is exercisable for a period of five years at an exercise price of nine cents per share. The options and underlying shares will be subject to a four-month hold period in accordance with the policies of the CSE.
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 in Nevada and near the rail head to California.
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