Work Programme Approved for Chatham's Selenium Project

NEWS RELEASE 22-22 November 22, 2022



WORK PROGRAMME APPROVED FOR CRP’S
PACIFIC RARE EARTHS SELENIUM EXPLORATION PERMIT

WELLINGTON New Zealand – Chatham Rock Phosphate Limited (TSXV: “NZP” and NZX: “Chatham” or the “Company") has moved another step forward with its selenium prospect EPM 28606 as the Queensland Department of Resources has approved the exploration work program for this prospect.

Exploration area EPM28606, with outcropping beds of the seleniferous Toolebuc Formation, covers an area of 196 sq. km. in the Tambo region of Central West Queensland. The area is accessible by local paved roads and well served by local infrastructure in the town of Blackall north of the area.

Selenium minerals are rare, and although selenium-rich ores exist, few are mined exclusively for the element. Most selenium is obtained as a by-product of copper ore processing. Selenium is occasionally found in pure form. It occurs in the rare minerals clausthalite and crooksite.

The inclusion of selenium in the Queensland Government schedule of New Economy Minerals (NEM) recognises the significance of the mineral to the State. Selenium is to be found in its inorganic state as in the seleniferous Toolebuc Formation and in the organic state in certain plants.

The Company has an interest in both forms, both inorganic and organic, since selenium has application in new technologies as well as in fertilizers and supplements for livestock in selenium deficient areas of Australia and New Zealand.

With selenium being one of the NEM, the Company will now apply for exploration funding under the Queensland Government’s $26 million Collaborative Drilling Program.

Pacific Rare Earths

Chatham’s wholly-owned Australian subsidiary, Avenir Makatea Pty Ltd, trading as Pacific Rare Earths, made the application.

Pacific Rare Earths Limited (PRE) is the umbrella company for our existing rare earth elements projects at Korella North, Korella Central and Korella South in Queensland, the Chatham Rise project offshore New Zealand and the selenium project at Tambo.

For more information contact Chris Castle on 021 558 185 or [email protected] or check out www.rockphosphate.co.nz

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.

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