Antipodes Gold Update on Chatham Rock Phosphate Takeover

Antipodes Gold Update on Chatham Rock Phosphate Takeover AUCKLAND New Zealand - Antipodes Gold Limited (TSXV and NZAX: AXG, or the "Company") is pleased to report a significant level of acceptances in respect of its Takeover Offer ("Offer") under the (New Zealand) Takeovers Code for Chatham Rock Phosphate Limited (NZAX code "CRP"). ACCEPTANCES TO DATE OF OFFER AXG reports that on 16 January 2017, (NZ time), the total level of acceptances of its takeover offer for all of the equity securities in Chatham Rock Phosphate Limited (CRP) stands at: ? 487,053,231 fully paid shares, comprising 63.8% of the total fully paid shares in CRP; and ? 66,282,519 unpaid shares, comprising 100% of the total unpaid shares in CRP. CEO Simon Henderson noted that this was a pleasing initial result, achieved as it was, in the middle of the New Zealand holiday season. EXTENSION OF EXPIRY DATE OF OFFER The Offer, initially set to expire on 31 January 2017, has today been extended out to 28 February 2017. The Offer is being conducted pursuant to an exemption from Canadian take-over bid requirements under Part 4 of National Instrument 62-104. DEBT SETTLEMENT AGREEMENTS The company also announces that, as part of the Chatham RTO, it has entered into debt settlement agreements with certain of its directors and management (including a former director). Pursuant to the debt settlement agreements, a total of C$159,680 of unpaid wages and directors fees to such directors and management will be settled by issuance of 278,359 post-consolidated common shares at a deemed price of C$0.573646 per post-consolidated share. The issuance of the common shares will be completed concurrently with the anticipated completion of the take-over of Chatham and following the company's proposed consolidation of shares on a ten (10) old for one (1) new share basis. Further information with respect to the debt settlement agreements, the Chatham take-over and the share consolidation are contained in the Company's Filing Statement dated November 10, 2016 available for review under the company's profile on SEDAR For and on behalf of the Board, Peter Liddle Antipodes Gold Limited Chief Financial Officer peter.liddle@antipodesgold.co.nz End CA:00295627 For:AXG Type:TAKEOVER Time:2017-01-17 09:33:40