Chatham Rock Phosphate Limited — Capital/Financing Update 2021

Oct 21, 2021

October 20, 2021

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NEWS RELEASE 21-18

CHATHAM ROCK PHOSPHATE ANNOUNCES GRANTING OF OPTIONS

WELLINGTON New Zealand – Chatham Rock Phosphate Limited (TSXV: “NZP” and NZX: “CRP” or the “Company") announces that it has granted incentive stock options to purchase a total of 2,400,000 common shares at a price of CAD$0.126 (NZ$0.142) per share, for a period of five years, to its directors, officers, senior management and employees pursuant to the Company's stock option plan and subject to the TSX Venture Exchange rules and regulations.

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.