Stampede Drilling Announces Granting of Stock Options

CALGARY, AB, May 16, 2024 /CNW/ - Stampede Drilling Inc. ("Stampede" or the "Company") (TSXV: SDI) announces that it has granted an aggregate of 5,270,000 stock options ("Options") to purchase common shares of the Company ("Common Shares") to officers, employees and directors of the Company.

The Options were granted on May 16, 2024, and have a term of five years from the date of grant, with one quarter of the Options vesting on the day of the grant and one quarter subsequently vesting on each of the first, second and third anniversaries of the date of the grant. The Options may be exercised at a price of $0.24 per Common Share.

The Options were granted pursuant to the stock option plan of the Company, as recently approved by the shareholders of the Company on May 16, 2024.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE Stampede Drilling Inc.

Lyle Whitmarsh, President & Chief Executive Officer, Stampede Drilling Inc., Tel: [phone]