Antipodes Gold Update on Chatham Rock Phosphate Takeover

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NEWS RELEASE 17-1
16 January 2017


Antipodes Gold Update on Chatham Rock Phosphate Takeover

AUCKLAND New Zealand - Antipodes Gold Limited (TSXV and NZAX: AXG, or the
“Company") is pleased to report a significant level of acceptances in respect of its Takeover Offer
(“Offer”) under the (New Zealand) Takeovers Code for Chatham Rock Phosphate Limited (NZAX
code “CRP”).

ACCEPTANCES TO DATE OF OFFER

AXG reports that on 16 January 2017, (NZ time), the total level of acceptances of its takeover offer
for all of the equity securities in Chatham Rock Phosphate Limited (CRP) stands at:
∑ 487,053,231 fully paid shares, comprising 63.8% of the total fully paid shares in CRP; and
∑ 66,282,519 unpaid shares, comprising 100% of the total unpaid shares in CRP.

CEO Simon Henderson noted that this was a pleasing initial result, achieved as it was, in the
middle of the New Zealand holiday season.

EXTENSION OF EXPIRY DATE OF OFFER

The Offer, initially set to expire on 31 January 2017, has today been extended out to 28 February
2017.


The Offer is being conducted pursuant to an exemption from Canadian take-over bid requirements
under Part 4 of National Instrument 62-104.

DEBT SETTLEMENT AGREEMENTS

The company also announces that, as part of the Chatham RTO, it has entered into debt
settlement agreements with certain of its directors and management (including a former
director). Pursuant to the debt settlement agreements, a total of C$159,680 of unpaid wages and
directors fees to such directors and management will be settled by issuance of 278,359 post-
consolidated common shares at a deemed price of C$0.573646 per post-consolidated share.
The issuance of the common shares will be completed concurrently with the anticipated completion
of the take-over of Chatham and following the company’s proposed consolidation of shares on a
ten (10) old for one (1) new share basis.
Further information with respect to the debt settlement agreements, the Chatham take-over and
the share consolidation are contained in the Company’s Filing Statement dated November 10,
2016 available for review under the company’s profile on SEDAR

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For and on behalf of the Board,


Peter Liddle

Antipodes Gold Limited

Chief Financial Officer

peter.liddle@antipodesgold.co.nz


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
Transaction and associated transactions, and has neither approved nor disapproved of the
contents of this press release.