The Albany Gazette - Emerging Growth Research Initiates Coverage on Nevada Organic Phosphate Inc.

The Initiation Report provides an overview of the Company's Murdock Mountain asset, early exploration results, proposed physical-processing route, market context and delivered-cost considerations, financial position and funding outlook, and the development milestones ahead.

Key Highlights

Exploration Scale at Murdock Mountain -- The Company's stated exploration target is 200-220 million tonnes of phosphate-bearing rock, including a 10-46 million tonne target in the core Nevagro area. NOP's September 2026 presentation describes a 6.6-kilometer exploration corridor within the initial area, with possible extensions into three additional application areas, and public disclosures indicate assay-supported strike lengths exceeding three kilometers. The report notes that the exploration targets are conceptual and that the current level of exploration is inadequate to define a mineral resource.

Repeated Phosphate Intersections -- NOP's September 21, 2026 release reported Upper Phosphatic Zone grades above 10% P₂O₅ in nine of ten drill holes. Falcon Drilling is mobilizing to complete the planned 2026 program, including step-out drilling to test continuity along the trend. Selected intersections do not establish a deposit-average grade.

Low Reported Metal Concentrations and a Proposed Physical-Processing Route -- NOP proposes mining, grinding and bagging the rock for direct agricultural application, potentially avoiding the acidulation facilities used for conventional soluble fertilizers. EGR believes reported low concentrations of selected metals support further evaluation, with representative product samples, phosphorus availability data and crop performance testing as the next steps.

Enhanced Ability to Fund Technical Work -- Following the May 2026 financing and the September 8, 2026 appointment of P&E Mining Consultants for technical support, EGR estimates the Company held approximately C$4.5 million of cash as of September 18, 2026, equal to roughly 12 months of runway at the assumed spending rate. The report notes that the audited financial statements carry a going-concern material uncertainty, underscoring the importance of funding for the work program.

Near-Term Catalysts and Subsequent Milestones -- EGR views further drill results and geological interpretation as the immediate catalysts, followed by progress on the three additional applications, representative product tests and, potentially, a commissioned resource program. NOP has not published a mineral resource estimate or preliminary economic assessment, and completion dates for these milestones have not been announced.

The full Initiation Report from Emerging Growth Research is available at:

https://app.accessnewswire.com/media/1229912/nopffinitiationemerging-growth-research-10126.pdf

Or

https://emerginggrowth.com/profile/nopff/ (on the right side of the page as you scroll down)

About Nevada Organic Phosphate Inc.

Nevada Organic Phosphate Inc. (CSE:NOP)(OTCQB:NOPFF)(FSE:Z58) is a phosphate exploration company focused on its flagship Murdock Mountain project near Montello in Elko County, northeastern Nevada. The project hosts sedimentary phosphate mineralization within the Permian Phosphoria Formation that may be suitable for direct-application fertilizer in organic agriculture. The Company's exploration and technical programs aim to define the deposit and evaluate its potential to supply the U.S. agricultural market. For more information, please visit www.nevadaphosphate.com.

About Emerging Growth Research

Emerging Growth Research LLC ("EGR") is a research firm focused on emerging growth companies, including small-, micro- and nano-cap companies across healthcare, biotechnology, energy, metals and mining, technology and other emerging industries. EGR provides research reports, quarterly updates, flash reports and other investor-focused content covering emerging growth companies.

Emerging Growth Research also provides company-sponsored research services. The research referenced in this press release is company-sponsored research.

Contact:

Emerging Growth Research
[email protected]
www.EmergingGrowth.com

Forward-Looking Statements

This press release contains forward-looking statements concerning business operations, financial performance, exploration and project development, financing and permitting timelines, capital markets opportunities, and future growth expectations. These statements are subject to risks and uncertainties, and actual results may differ materially from those expressed or implied. Important risk factors include, but are not limited to, geological conversion of exploration targets into a defined resource, product performance and delivered economics, tenure, permitting and regulatory timing, the availability and terms of financing and resulting shareholder dilution, and the Company's ability to successfully execute its exploration and development strategy.

Disclosures

This report was prepared for institutional and professional investors ONLY, and it is also known as Company Sponsored Research ("CSR"). Collectively, however ("EGR Report(s)").

Be advised that this EGR Report is being provided by Emerging Growth Research LLC ("EGR") solely for informational purposes, is not the opinion of EmergingGrowth.com ("EG"), should not be construed as an offer or solicitation to buy or sell securities, and should not be considered in any decision to buy or sell any security mentioned within the EGR Reports. All information contained in the EGR Report as well as on the EmergingGrowth.com website is obtained from sources believed to be reliable but not guaranteed to be accurate or all-inclusive, timely, or correct. The information includes certain forward-looking statements, which may be affected by unforeseen circumstances and / or certain risks. Because EGR is compensated as detailed herein and EG receives Licensing fees from EGR, as also detailed herein, EG and EGR have a conflict of interest and strongly urge you to consult your own independent financial, investment, tax, and legal advisors prior to purchasing or selling any securities mentioned herein.

The analyst that has prepared and is responsible for the content of this report has stated that neither he/she, nor any of his/her associates both professional and personal, to the best of his/her knowledge have no personal or professional relationship with any of the companies or principals of any companies mentioned within, other than providing services that EGR may offer.

EGR is being compensated by the subject Company of this report. EGR was paid US$25,000 dollars for the Research package which includes this report. EGR may have also received additional past compensation, EGR may receive future compensation, and EG may receive compensation for additional services such as presenting on the Emerging Growth Conference or investor or public relations services, details about which can be found in the full disclosure, here: (https://emerginggrowth.com/nop-nopff-emerging-growth-research-disclosure/).

It is the intent of EGR to provide continuing coverage on a quarterly basis, or otherwise for the subject Company of this report; however, EGR and EG will not notify readers of this report if coverage by EGR, for any reason is terminated.

The reader or user of this content agrees that neither EGR and / or EG nor the analysts, directors, officers, employees, representatives, independent contractors, agents or affiliates of EGR and EG shall be liable or held liable for any omissions, errors, or inaccuracies, regardless of cause, foreseeability, or the lack of timeliness of this or any of our other reports to users. This lack of liability extends to direct, indirect, incidental, exemplary, compensatory, punitive, special or consequential damages, costs, expenses, legal fees, losses, lost income, lost profit, or opportunity costs.

Again, all information contained herein should be independently verified by your own research and your own independent financial, investment, tax, and legal advisors prior to purchasing or selling any securities mentioned herein.

In addition to the specific disclosures mentioned herein, you are encouraged to read our general disclosure here: EmergingGrowth.com/Disclosure.

Rating Definitions

Buy, 30% or greater price appreciation in the next 12 months.

Buy-Extended, near-term EPS and/or revenue horizon is challenging with strong long-term appreciation possibility.

Buy-Emerging, initial stages with low revenue and the potential for large returns with higher risk and volatility.

Hold, perform similar to market.

Sell, 30% or more decline in the next 12 months.

© Copyright 2026 Emerging Growth Research LLC

No part of this material may be copied, photocopied, or duplicated in any form by any means or redistributed without the prior written consent of Emerging Growth Research LLC.

SOURCE: Nevada Organic Phosphate Inc.

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(K.Jones--TAG)