It's actually 1 option for every 2 shares held, but given that the sp is currently ~$0.50 and the exercise price is $0.25 they are already in the money and as you mention @ $0.005 they are practically free (due on the 14th August by my estimation).
Also drill results from the Jumbulyer project (foothills prospect) and Brittania Well have assays pending (~4 weeks since drilling was completed).
Historical results from foothills highlight the project is easily accessible with shallow rab drilling intersected up to "16m @ 6.7g/t au from 9m depth", while recent surface rock chip channel sampling returned "7.2g/t au over 10m" from old workings, rock chip sampling returned values between "1. and 29. g/t au" in quartz veining in the Gravel Pit (100 oz Patch) area - 900 metres to the southeast of the Foothills Prospect.
This should all underpin the sp (and provide upward pressure).
Cheers
SBC
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