CRP'S PACIFIC RARE EARTHS SELENIUM PERMIT GRANTED

Thursday 22nd December 2022

WELLINGTON New Zealand – Chatham Rock Phosphate Limited (TSXV: “NZP” and NZX: “Chatham” or the “Company") selenium prospects have taken a great step forward with the grant of exploration area EPM 28606 in Queensland.

Exploration area EPM28606, with outcropping beds of the seleniferous Toolebuc Formation, covers an area of 196 square kilometres in the Tambo region of Central West Queensland. The area is accessible by local paved roads and well served by local infrastructure in the town of Blackall north of the area.

Selenium minerals are rare, and although selenium-rich ores exist, few are mined exclusively for the element. Most selenium is obtained as a by-product of copper ore processing. Selenium is occasionally found in pure form. It occurs in the rare minerals clausthalite and crooksite.

The inclusion of selenium in the Queensland Government schedule of New Economy Minerals (NEM) recognises the significance of the mineral to the State. Selenium is to be found in its inorganic state as in the seleniferous Toolebuc Formation and in the organic state in certain plants.

The Company has an interest in both forms, both inorganic and organic since selenium has application in new technologies as well as in fertilizers and supplements for livestock in selenium deficient areas of Australia and New Zealand.

Pacific Rare Earths

Chatham’s wholly-owned Australian subsidiary, Avenir Makatea Pty Ltd., trading as Pacific Rare Earths, made the application.

Pacific Rare Earths Limited (PRE) is the umbrella company for our existing rare earth elements projects at Korella North and Korella South in Queensland, the Chatham Rise project offshore New Zealand and the selenium projects at Tambo and Gunnerside (Hughenden).

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

Statements about the Company's future expectations and all other statements in this press release other than historical facts are "forward looking statements". Such forward-looking statements are based on numerous assumptions, and involve known and unknown risks, uncertainties and other factors, including risks inherent in mineral exploration and development, which may cause the actual results, performance, or achievements of the Company to be materially different from any projected future results, performance, or achievements expressed or implied by such forward-looking statements.

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.

Chathams Pacific Rare Earths Selenium Permit Granted

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