CRP and our Government – a 12 month report card

NEWS RELEASE 18-25 December 11, 2018

Chatham Rock Phosphate and Our Government - a 12 month Report Card

WELLINGTON New Zealand – Chatham Rock Phosphate Limited (TSXV: “NZP” and
NZAX: “CRP” or the “Company") wishes to advise that a year after first communicating
with the incoming government it’s timely for the Company to reiterate the messages it has
sent directly to key Ministers during this period.

We keep sending these messages as the benefits of this project include a well documented
and established range of environmental and health related benefits as well as providing an
obvious boost to our economy.

Chatham rock phosphate is already located here in New Zealand and doesn’t have to be
imported from the other side of the world. Its ownership is also undisputed, unlike the rock
being imported from the Western Sahara. And our permit area contains significant by-
products including rare earths and other green minerals.

The area we would disturb during our mine life (less than 500 sq km in total or 30 sq km a
year) represents less than a quarter of one percent of the Chatham Rise, a tiny area compared
with the 19,000 sq km of the Rise bottom trawled annually in the area by the fishing industry
with few identified ill-effects; the impacts on the seafloor are broadly the same.

Chatham is a really good news story which is why it’s worth repeating these messages again
below. And it’s also why we will continue to request meetings with our key ministers in order
to communicate these messages in person.

This project deserves to be supported by any government, in any country, and particularly so
by the Labour/Green/NZ First coalition we have in New Zealand.

In summary it ticks all the boxes: environmental, health, ethical, security of supply,
economic, regional development, rare earths and other green minerals

 Our rock is a proven reactive phosphate rock. Using it results in much less run-off into
waterways and an improved soil profile compared with the effects of manufactured
fertilisers.
 It’s an organic fertiliser with no additives and with the only processing being grinding
and possible pelletisation
 It contains ultra-low levels of cadmium, a cancer-causing heavy metal with much greater
concentrations in other rock phosphate deposits
 Being locally sourced and needing to be applied less frequently results in much lower
carbon emissions (in effect increasing the present NZ electric vehicle fleet from 10,000 to
29,000 vehicles)
 It is New Zealand’s only significant source of phosphate and seabed extraction involves a
far smaller environmental impact than that imposed on local overseas communities which
mine phosphate
 The rock is within one day’s sailing distance and supply is far more secure (and more
ethical) than phosphate rock imported from unstable regions on the other side of the
world

 The project economics are attractive and Chatham will pay significant royalties and
income taxes
 The project will generate new jobs in environmental monitoring, on the mining ship, in
the home port and in the science and agricultural sectors
 Chatham rock phosphate has been independently shown to be as effective as other
phosphate fertilisers used in New Zealand. We could provide the two fertiliser co-ops
supplying most of New Zealand’s fertiliser with a green fertiliser alternative to naturally
complement their other products.

We repeat our request to meet and brief the key Ministers of this government in order to gain
the support that this project so richly merits. It’s good for the environment, good for the
economy and good for New Zealand.


Regards

Chris Castle, President and CEO
chris@crpl.co.nz or +64 21 55 81 85
Skype: phosphateking

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.