Korella North Mine Permitting Makes Significant Advance

NEWS RELEASE 24-18 June 19, 2024

KORELLA NORTH MINE PERMITTING MAKES SIGNIFICANT ADVANCE

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 no objections or submissions in regard to the granting of the mining lease.

In particular the advice from the Queensland Department of Resources was;

• Objections received under the Mineral Resources Act 1989 – Nil
• Submissions received under the Environmental Act 1994 – Nil

The Queensland Department of Resources issued on 17th May 2024 the Notice of Intention to Grant Mining Lease 100379 and start of the twenty-business day period for objections and submissions. By 17th June 2024 no objections or submissions regarding the grant of ML 100379 were received.

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.

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.

To enable the grant of ML100379 the mine access road is required to have approval from Queensland Rail for a crossing on the Phosphate Hill -Townsville rail line and approval from Cloncurry Shire Council for a new intersection on the Phosphate Hill-Duchess Road. Applications for both consents were lodged on April 16th, 2024.

Queensland Rail have commenced evaluation of the proposed crossing and have already advised that it will require a Mining Compensation Deed to be concluded along with approval of the design of the rail crossing as well as a Project Interface Agreement and Statutory Interface Agreement.

A recently engaged Cloncurry-based consultant town planner has also commenced discussions with the Cloncurry Shire Council to facilitate approval for the intersection and completion of a Road Maintenance Agreement.

We will keep shareholders updated on the progress of the approvals being processed by Queensland Rail and Cloncurry Shire Council.


For further information please contact:

Chris Castle
President and Chief Executive Officer
Chatham Rock Phosphate Limited
64 21 55 81 85 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 above descried transaction and has neither approved nor disapproved of the contents of this press release.

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