Korella North Mine – Update on Mining Lease Application

NEWS RELEASE 23-25 November 9, 2023

KORELLA NORTH MINE – UPDATE ON MINING LEASE APPLICATION

WELLINGTON New Zealand

Chatham Rock Phosphate Limited (TSXV: “NZP” and NZX: “CRP” or the “Company”) is pleased
to announce that the Korella North Mine project continues to steadily progress its Mining
Lease Application. The latest milestone was a pre-lodgment meeting with the Department of
Resources in Townsville held on November 1
st
, 2023. The draft Mining Lease Application for
Korella North was discussed and areas of interest requiring further advice identified.

In parallel a pre-lodgment meeting with the Department of Environment over the draft
Environmental Assessment Application is now being arranged.

Negotiations with the landowner and native title holders are well advanced.

The ability to make this Mining Lease Application flows from the completion of the NI 43 -101
technical report that identified the 2.7 million tonnes resources upon which the Korella North
Mine is based.

The Mining Lease Application covers some 118 hectares of which initially only three hectares
of the resource will be mined. This selected area contains a total of 390,000 tonnes within the
22 metres thick Monastery Creek Phosphate Member.

Further updates on the formal lodgment will be reported in due course.

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

Statements about the Company’s future expectations and all other statements in this press release other than
historical facts are “forward looking statements”. Such forward-looking statements are based on numerous
assumptions, and involve known and unknown risks, uncertainties and other factors, including risks inherent in
mineral exploration and development, which may cause the actual results, performance, or achievements of the
Company to be materially different from any projected future results, performance, or achievements expressed
or implied by such forward-looking statements.

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.