CHATHAM ROCK PROVIDES FURTHER RAILPHOS PROJECT UPDATE

NEWS RELEASE 25-021 October 29, 2025

CHATHAM ROCK PROVIDES FURTHER RAILPHOS PROJECT UPDATE

WELLINGTON New Zealand - Chatham Rock Phosphate Limited (TSXV: “NZP”, NZX: “CRP”
and “3GRE” (Frankfurt) or the “Company”) advised on June 18, 2025 that we have
commenced a Feasibility Study to develop a railway to connect our 100% owned
Korella North Mine and its planned phosphate export facility to the Port of Karumba.

The RailPhos project connecting the Korella North Mine, NW Queensland to the Port of
Karumba involves the construction of the long-mooted Cloncurry to Normanton rail line
with a further extension to Karumba.

The Feasibility Study is led by Australia-based Executive Director Colin Randall and as
at 22 October had further progressed as outlined below.

 We have made initial contact with all landholders along the route
 Face to Face meetings have been held with the three landholders that comprise
some 120 km of the route with support from all
 We met with Queensland Rail (QR) and conducted an on-site inspection of the
QR rail infrastructure east of Cloncurry and agreed on a starting point for the
Cloncurry to Port of Karumba railway
 We are considering an alternative site west of Cloncurry as the starting point for
this Cloncurry to Port of Karumba railway which avoids a crossing of the
Cloncurry River just north of Cloncurry township
 Executive Director Colin Randall was part of a panel discussing logistics and
phosphate at the Meeting of the Mines Conference in Cloncurry on Friday 12th
September
 He also made a presentation on the RailPhos Project to the Townsville Summit
Conference on Thursday 9th October 2025. See attached.
 Colin Randall was also interviewed by ABC Northwest Radio with the interview
subsequently aired on a number of occasions and with resultant positive
feedback.
The Feasibility Study into the RailPhos Project continues and we will be providing
regular progress reports.

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, current market conditions, and 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 TSX Venture Exchange, its Regulation Service Provider (as that term is defined
under the policies of the TSX Venture Exchange), or New Zealand Exchange Limited has in
any way passed upon the merits of the above described transaction, and has neither
approved nor disapproved of the contents of this press release.