Ngualla

completed

Peak Resources Limited (“Peak”) is an Australian junior mining company focused on advancing its wholly owned Ngualla Rare Earth Project (“Ngualla” or the “Project”) in south western Tanzania. The Ngualla deposit was first discovered by Peak in 2010 and after several years of exploration drilling, Peak completed a Preliminary Feasibility Study (PFS) in March 2014 to assess the potential for future mine development and associated beneficiation, recovery and separation plants and infrastructure. Results indicate that the Ngualla deposit provides sufficient ore for a potential 40+ year mine life. The operation, as contemplated in the PFS, is expected to produce ~10,000 metric tonnes per annum of separated high purity rare earth oxides. Peak is now proceeding to complete a Bankable Feasibility Study (BFS), the final milestone to confirm the commercial viability of the deposit. Construction is forecast to commence in mid-2016, with commissioning to follow 18 months later.Ngualla has a JORC compliant mineral resource of 195 million tonnes (MT) at 2.26 percent Rare Earth Oxide (REO) grade (4.4 MT of contained REO), including mineral reserves from a core 21.6 MT weathered Bastnaesite Zone at 4.54 percent REO for 982,000 tonnes of contained REO.