Retirement of director

NEWS RELEASE 17-40 December 21, 2017 Retirement of director WELLINGTON New Zealand - Chatham Rock Phosphate Limited (TSXV: "NZP" and NZAX: "CRP" or the "Company") announces that Justin Cochrane has retired as a director, effective today. Due to Justin's increased responsibility and board commitments at Cobalt 27 Capital Corp., he is required to step down from his current duties on the board of Chatham Rock Phosphate. We regret his loss, as Justin played a key role in assisting the successful transition of Antipodes Gold into Chatham Rock Phosphate, but we congratulate him on his Cobalt 27 promotion. For further information please contact: Chris Castle President and Chief Executive Officer Chatham Rock Phosphate Limited 64 21 55 81 85 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. End CA:00312418 For:CRP Type:GENERAL Time:2017-12-22 10:52:48