CRP Amends Option Plan

143851\4837-6121-2588





NEWS RELEASE 19-17 November 7, 2019





CHATHAM ROCK PHOSPHATE AMENDS OPTION PLAN

WELLINGTON New Zealand – Chatham Rock Phosphate Limited (TSXV: “NZP” and
NZAX: “CRP”, “Chatham” or the “Company") wishes to advise that its Board of Directors
has approved an amendment to the Company’s Stock Option Plan which allows stock options
to be granted with a term of up to ten years, as permitted by TSX Venture Exchange policies.

Prior to the amendment of the Stock Option Plan, the Company was restricted to granting
options with a maximum term of five years. The Stock Option Plan amendment is subject to
ratification by shareholders at the 2020 Annual General Meeting. Although the Company
may grant options with terms of up to ten years prior to shareholder ratification, in the event
shareholders do not ratify the amendment, any such options will be deemed to have been
amended to reduce the term to five years from the date of grant.


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.