ROCK PHOSPHATE SAMPLES SENT TO ADVANCE OFFTAKE AGREEMENTS

GENERAL

Tue, May 02 2023 10:45 am

NEWS RELEASE 23-9 May 1, 2023

ROCK PHOSPHATE SAMPLES SENT TO ADVANCE OFFTAKE AGREEMENTS

WELLINGTON New Zealand – Chatham Rock Phosphate Limited, “CRP” or “the Company” (TSXV: “NZP”, NZX: “CRP” FSE “3GRE”) wishes to announce that as part of the process of negotiating offtake agreements, samples of Korella phosphate have been sent to phosphatic fertilizer manufacturers.

In the first instance, 3kg samples have been sent to seven fertilizer manufacturers located in New Zealand, Australia, Canada and Europe for their evaluation. Samples of both Korella 30% P2O5 and 38% P2O5 low cadmium phosphate have been supplied for evaluation by the manufacturers.

To further advance offtake discussions with a European manufacturer, a 300kg sample of 38% P2O5 low cadmium phosphate is now under preparation. The sample will be used by the manufacturer for extended testing including blending with other phosphates.

The high quality and low cadmium of Korella phosphate provides the basis for producing low cadmium phosphatic fertilizers that meet the most stringent requirements set by current and evolving EU standards.

For further information please contact:

Chris Castle
President and Chief Executive Officer
Chatham Rock Phosphate Limited
64 21 55 81 85
[email protected] or [email protected]

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.