Chatham announces private placement

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NEWS RELEASE 20-12 December 1, 2020

CHATHAM ROCK PHOSPHATE LIMITED
PRIVATE PLACEMENT


WELLINGTON New Zealand – Chatham Rock Phosphate Limited (TSXV: “NZP” and NZX:
“CRP” or the “Company") successfully raised further working capital in early and mid 2020 to keep
the company in good standing.

We continue to pursue our objective of securing a new cornerstone investor to fund our environmental
permit reapplication. To facilitate securing such an investor or investors CRP is also seeking to
broaden its portfolio of phosphate interests beyond the Chatham Rise mining permit and our
Namibian prospecting licence applications.

Accordingly, the Company is proceeding with a further non-brokered private placement of up to
10,000,000 shares at a price of CAD $0.06 (NZ$0.07) per common share for gross proceeds of up to
CAD $600,000 (NZD $700,000 ) subject to regulatory approvals.

As already announced, the Company has partnered with Stockhouse as part of this fundraising
initiative and we expect that their global reach will materially assist CRP in reaching our target.

This level of funding should sustain the company until the end of 2021 during which period our main
focuses will continue to be advancing our Chatham Rise project and securing a foothold in one or
more new projects. We expect this strategy to make it easier to secure a business partner to work with
us in order to complete the final step of permitting the Chatham Rise project.

The common shares issued pursuant to this proposed offering are subject to a hold period of four
months plus one day after the closing dates of the offering as provided by securities legislation.

Finders’ fees may be payable in cash to arm’s length parties in connection with this placement as
permitted under the policies of the TSX Venture Exchange. The private placement is subject to the
acceptance by the TSX Venture Exchange and is expected to close on or before January 15, 2021.

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.

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

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

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

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

Our project 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 located 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.

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




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.