Monday, 26 February 2018

Announcement

GENERAL: CRP: Chatham resolves EPA issue

14 Dec 2017 10:02NZX
NEWS RELEASE 17-38
December 13, 2017

Chatham resolves EPA issue

WELLINGTON New Zealand - Chatham Rock Phosphate Limited (TSXV: "NZP" and
NZAX: "CRP" or the "Company") advises that it has decided to accept liability
for the disputed costs with the Environmental Protection Authority (EPA)
relating to the Marine Consent application made in 2014.

Accordingly CRP has paid to the EPA the total claimed costs of CAD 708,000,
substantially offset by funds placed in a trust account pending the
resolution of the dispute. In consequence, the net impact on CRP''s
operational cash flows was only CAD 254,000.

CRP will be looking to formally conclude the court proceedings shortly and
looks forward to the complete resolution of this legacy issue.

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:00311942 For:CRP    Type:GENERAL    Time:2017-12-14 10:02:18
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