Chatham further extends private placement closing date

NEWS RELEASE 21-07 May 31, 2021 CHATHAM ROCK FURTHER EXTENDS PRIVATE PLACEMENT CLOSING UP TO JUNE 17, 2021 WELLINGTON, New Zealand - Chatham Rock Phosphate Limited (TSXV: "NZP" and NZX: "CRP" or the "Company") announces that further to its news release dated May 4, 2021, the Company has obtained a further extension from the TSX Venture Exchange of the deadline to complete the previously announced non-brokered private placement until June 17, 2021. The private placement is for up to 6,000,000 units (the "Units") at a price of CAD $0.11 per Unit (NZ$0.12) for gross proceeds of up to CAD $660,000 (NZD $720,000). Each Unit will consist of one common share in the capital of the Company and one transferable share purchase warrant ("Warrant"). Each Warrant will entitle the holder thereof to acquire one common share at a price of CAD$0.45 (NZ$0.53) per share at any time prior to the date that is five (5) years from the date of issuance. All information previously reported about the Private Placement as well as the terms and conditions thereof remain the same. The Company proposes to use the funds to provide updated socio-economic and environmental reports to facilitate the grant of the Avenir Makatea mining permit and for general working capital. 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), nor New Zealand Exchange Limited has in any way passed upon the merits of the Acquisition and associated transactions, and none of them accepts responsibility for the adequacy or accuracy of this release. End CA:00373171 For:CRP Type:OFFER Time:2021-06-01 09:14:43