Media Coverage: Daily Company News - Chatham Rock Phosphate Signs Term Sheet To Acquire Korella Phosphate Mine In Australia

Chatham Rock Phosphate Limited (TSXV: “NZP” and NZX: “CRP” or the “Company”) wishes to advise with great pleasure we have signed a Term Sheet to acquire the Korella phosphate mine in Australia. Final negotiation of the arm’s length Sale and Purchase Agreement with vendor Australia Venus Resources Pty Ltd. and its shareholders will now proceed with the acquisition subject to certain conditions.

The Korella Mine is located in North-West Queensland approximately 150km southeast of Mt. Isa and adjoins the Phosphate Hill Mine owned and operated by Incitec Pivot.

The mine is on mining lease ML90209, in force until 2033 and which covers approximately. 1,602 ha of grazing land on Chatsworth Station in the Shire of Cloncurry.

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