Chatham's Korella North Mine Signs Road User Agreement

NEWS RELEASE 24-26 August 21, 2024 KORELLA NORTH MINE PERMITTING TAKES SIGNICIFICANT STEP FORWARD WITH ROAD USE AGREEMENT WITH CLONCURRY SHIRE COUNCIL WELLINGTON, New Zealand - Chatham Rock Phosphate Limited (“CRP”) (TSXV: NZP, NZX: CRP, Frankfurt Borse: 3GRE) wishes to advise that the Korella North Mine ML100379 permitting process takes another major move forward with signing of a Road Use Agreement with Cloncurry Shire Council. The grant of the Mining Lease is under the Queensland Mineral Resources Act 1989 and is for a term of 10 years with the ability to apply for a further renewal for a term not exceeding 10 years. Cloncurry Shire Council has signed a Road Use Agreement with Avenir Makatea Pty Ltd for the transport of up to 50,000 tonnes per annum of phosphate on the Council controlled Phosphate Hill to Duchess Road. At the same time work continues with traffic engineers Premise Australia to prepare an application to Council to increase annual road haul tonnage to 100,000 tonnes per annum which will also require the additional consent of the Queensland Department of Transport and Main Roads to transport phosphate on State controlled roads. ML100379 covers an area of 118.62 ha and is located 6km southeast of The Monument at Phosphate Hill. The grant of the Mining Lease includes the granting of access over the adjacent Phosphate Hill - Townsville rail line to the Phosphate Hill - Duchess Road. Access over the adjacent Phosphate Hill - Townsville rail line requires permission from Queensland Rail and Department of Transport and Main Roads and concluding of a Mining Compensation Deed. A condition precedent for the grant of mining lease ML100379 for Korella North is the signing of the Mining Compensation Deed with QR and TMR. We will keep shareholders updated on progress. For further information please contact Chris Castle President and Chief Executive Officer Chatham Rock Phosphate Limited 64 21 558 185 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. CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS This news release may contain certain “forward looking statements”. Forward-looking statements involve known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Any forward-looking statement speaks only as of the date of this news release and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise.