I spoke to the company directly, and have a better understanding of this now. I can convert my options to shares if exercised by the 31/3, which avoids them becoming worthless.
Week 46 Wrap: Copper hits 2mth low as Trump threatens net zero pace; US rally fades; HotCopper’s picks
AN1 CuFe sells its Crossroads gold royalty to Northern Star for $4M cash; says better than waiting for mine launch