CRP corrects Mexican marine phosphate project announcement

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NEWS RELEASE 18-7 March 26, 2018

Chatham corrects Mexican marine phosphate project announcement
WELLINGTON, New Zealand – Chatham Rock Phosphate Limited (TSXV: “NZP” and NZAX: “CRP”
or the “Company") wishes to advise shareholders of a correction to an announcement that we
made on March 23, 2018.
In that announcement we quoted directly from a release made by Odyssey Marine to the United
States Securities and Exchange Commssion. The release stated that “on March 21, 2018, the
Superior Court of the Federal Court of Administrative Justice in Mexico had ruled unanimously in
favour of Odyssey Marine, thereby nullifying the earlier denial of the environmental permit
application for the extraction of phosphate sand from its “Don Diego” project”
We then went on to comment that “this meant that Don Diego is now fully permitted”.
We have been advised that the project is not yet fully permitted. While it seems to be a logical
assumption that the project will now be fully permitted, we wish to withdraw our statement and
will leave it to our shareholders, stakeholders and other readers of this release to draw their
own conclusions as to whether or not the Don Diego project will be fully permitted.
Following the Odyssey Marine release their stock traded in heavy volumes and finished the
week at $US9.20, up from $US3.80 before the announcement so it would appear that Odyssey
Marine shareholders have already formed their own conclusion about the significance of the
Mexican Superior Court ruling and the likely outcome.
About Chatham Rock Phosphate
Chatham Rock Phosphate is the custodian of New Zealand’s only material resource of ultra-low
cadmium, environmentally friendly pastoral phosphate fertiliser. Our key role is connecting the
resource with those who need it.

Using this phosphate will support sustainable farming practices, including healthier soil profiles
and reduced accumulation of the heavy metal cadmium, reducing carbon emissions and
dramatically lowering runoff to waterways and shrinking fertiliser needs over time.

The resource represents one of New Zealand’s most valuable mineral assets and is of huge
strategic significance because phosphate is essential to maintain New Zealand’s high agricultural
productivity.

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New Zealand’s current access to phosphate is vulnerable to economic and political events in the
six countries controlling 98% of the world’s phosphate reserves, with 85% of the total in the
Western Saharan state of Morocco.

Chatham takes very seriously the responsibility vested in it through its mining permit to use the
world’s best knowledge and technology to safely extract this resource to help sustainably feed
the world.

Our initial environmental consenting process independently established extraction would have
no significant impact on fishing yields or profitability, marine mammals or seabirds.

For more information contact Chris Castle on 021 55 82 85 or chris@widespread.co.nz or
check out www.rockphosphate.co.nz

Neither the Exchange, its Regulation Service Provider (as that term is defined under the policies of the
Exchange), or NZX 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.