Chatham Advises Proposed Sale of Korella Phosphate Projects

NEWS RELEASE 25-01 January 20, 2025

Chatham Advises Proposed Sale of Korella Phosphate Projects

WELLINGTON New Zealand – Chatham Rock Phosphate Limited (TSXV: “NZP”, NZX: “CRP” and
“3GRE” (Frankfurt) or the “Company”) wishes to advise that we have today agreed in principle
to sell to an arm’s-length Australian entity (the Marshall Group) the four mining and exploration
leases in respect of our Korella North and South properties currently held by our 100% owned
subsidiary Avenir Makatea Pty Limited (AML).

The leases to be sold are ML100379, EPM 28589, EPM 28882 in respect of Korella North and EPM
28178 in respect of Korella South.

The sale price includes a cash payment of AU$4.1 million (CA$3.65 million, NZ$ 4.5 million) on
transfer of the leases to the acquiring company and a royalty to be paid to AML at a rate of AU$10
per tonne for the first 0.19 million tonnes of production (total AU$6 million, CA$5.34 million, NZ
6.6 million).A further royalty of AU$1 will be paid per tonne to AML on all production
commencing after the completion of the first 0.19 million tonnes up until 31
st
March 2040.

The transactions are conditional on a successful outcome in respect of a due diligence process to
be undertaken by the proposed purchaser which is currently underway and expected to be
completed on or before 31
st
March 2025, as well as the successful negotiation of a definitive
purchase and sale contract, and TSXV approval, if applicable.

For further information please contact:

Chris Castle
President and Chief Executive Officer
Chatham Rock Phosphate Limited
64 21 55 81 85 or chris@crpl.co.nz

Statements about the Company’s future expectations and all other statements in this press
release other than historical facts are “forward looking statements”. Such forward-looking
statements are based on numerous assumptions, and involve known and unknown risks,
uncertainties and other factors, including risks inherent in mineral exploration and development,
which may cause the actual results, performance, or achievements of the Company to be
materially different from any projected future results, performance, or achievements expressed
or implied by such forward-looking statements.

Neither the Exchange, its Regulation Service Provider (as that term is defined under the policies
of the Exchange), or New Zealand Exchange Limited has in any way passed upon the merits of the
above described transaction, and has neither approved nor disapproved of the contents of this
press release.