CRP Amends Option Plan

NEWS RELEASE 19-17 November 7, 2019 CHATHAM ROCK PHOSPHATE AMENDS OPTION PLAN WELLINGTON New Zealand - Chatham Rock Phosphate Limited (TSXV: "NZP" and NZAX: "CRP", "Chatham" or the "Company") wishes to advise that its Board of Directors has approved an amendment to the Company's Stock Option Plan which allows stock options to be granted with a term of up to ten years, as permitted by TSX Venture Exchange policies. Prior to the amendment of the Stock Option Plan, the Company was restricted to granting options with a maximum term of five years. The Stock Option Plan amendment is subject to ratification by shareholders at the 2020 Annual General Meeting. Although the Company may grant options with terms of up to ten years prior to shareholder ratification, in the event shareholders do not ratify the amendment, any such options will be deemed to have been amended to reduce the term to five years from the date of grant. Chris Castle, President and CEO chris@crpl.co.nz or +64 21 55 81 85 Skype: phosphateking 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. End CA:00344024 For:CRP Type:GENERAL Time:2019-11-08 09:59:50