Ngualla Project a Large New RARE EARTH Discovery Disclaimer

Ngualla Project A large new RARE EARTH discovery Disclaimer

The information contained in this presentation is for information purposes only and has been extracted entirely from documents or materials publicly filed with the Australian Stock Exchange and/or the Australian Securities and Investments Commission. This presentation is not an offer or invitation to subscribe for or purchase securities in the Company. The release, publication or distribution of this presentation in certain jurisdictions may ne restricted by law and therefore persons in such jurisdictions into which this presentation is released, published or distributed should inform themselves about and observe such restrictions. The Company does not warrant that the information contained in this presentation is accurate or complete. The information has been prepared on a best endeavours basis. Recipients of this presentation assume all risk and liability resulting from the use of the information contained in this presentation including but not limited to consequential damages. To the extent that the presentation contains any projections or other forward looking statements, those statements involve a number of known and unknown risks, uncertainties and other facts that may cause actual performance to be materially different from those expressed or implied by those statements. These forward looking statements are not historical facts but rather are based on Peak’s current expectations, estimates, projections and beliefs and assumptions regarding future performance. Words such as “scenario”, “anticipates”, “expects”, “intends”, “plans”, “believes”, “seeks”, “estimates”, “forecasts” and similar expressions are intended to identify forward-looking statements. These statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties and other factors. In providing this presentation, Peak Resources Limited has not considered the financial position or needs of the recipient. Persons needing advice should consult their stockbroker, bank, manager, solicitor, accountant or other independent financial and legal advisors. Recipients of this presentation must undertake their own due diligence and make their own assumptions in respect of the information contained in this presentation and should obtain independent professional advice before making any decision based on the information.

Competent Person Statement The information in this presentation relates to Exploration Results based is based on information reviewed by David Hammond who is a Member of the Australasian Institute of Mining and Metallurgy, David Hammond is a Director and full time employee of the Company. He has sufficient experience which is relevant to the mineralization and type of deposit under consideration and to the activity which he is undertaking to qualify as a competent Person as defined in the 2004 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources ad Ore Reserves’. David Hammond consents to the inclusion in this report of the matters based on his information in the form and context in which it appears. Outline

1/ Corporate Details 2/ Projects Overview 3/ Ngualla Rare Earth Project 4/ Evolution of a Discovery 5/ Exploration Targets 6/ Upside Potential Corporate Details 1st September 2011

Ordinary Shares on Issue: 155.1m 52 week range: $0.19 - $0.94 Cash on Hand: $6.4m Market Cap: ($0.45) $69.8m

Board and Senior Management Alastair Hunter Executive Chairman (9,276,395 ordinary shares) Dave Hammond Technical Director (2,250,000 options) Jonathan Murray Non-Executive Director (520,000 ordinary shares) Brian Lloyd Exploration Manager (Tanz) (2,000,000 options) Linda Paini Company Secretary

Price, Volume & Performance All Ordinaries Peak Resources

700% –

–

500% –

–

300% –

–

100% –

01 July 2010 30 SEPT 2010 04 JAN 2011 05 APRIL 2011 08 JUNE 2011 Corporate Details

Peak Resources Limited Top 20 Holders Consolidated Rank Name (Or Like Holders) 7 September 2011 % 1 Hunter Family Controlled Entities 9,276,394 5.98 2 Hsbc Custody Nominees (Australia) Limited 6,843,907 4.41 3 Michael Bushell 4,495,068 2.90 4 Mr Yi Weng & Ms Ning Li 4,460,000 2.88 5 Rm Corporate Pty Ltd 4,241,000 2.73 6 Ubs Nominees Pty Ltd 3,351,648 2.16 7 National Nominees Limited 2,452,285 1.58 8 Yarandi Investments Pty Ltd 2,339,500 1.51 9 Minico Pty Ltd 2,125,000 1.37 10 Ashabia Pty Ltd 2,026,665 1.31 11 Rbc Dexia Investor Services 1,992,900 1.28 12 Wisevest Pty Ltd 1,875,000 1.21 13 Lost Ark Nominees Pty Limited 1,445,455 0.93 14 Davslav Pty Ltd 1,300,000 0.84 15 Suvale Nominees Pty Ltd 1,250,000 0.81 16 Allan Zion 1,082,000 0.70 17 Patrick Thomas and Maree Robyn Young 1,000,000 0.64 17 R K Hammond Investments No 2 1,000,000 0.64 18 Allan Clive Trickey 925,000 0.60 19 Villasor Holdings Pty Ltd 900,000 0.58 20 Kojiro Honda 710,000 0.46 Total 55,091,822 35.51% Grand Total 155,127,143 100.00% Projects Overview

UGANDA • Tanzanian focussed exploration Nairobi Nkerge!

company based in Perth, WA Lake Victoria Ikoma

Geita West (Imweru) ! Mwanza KENYA • The Ngualla Rare Earth Project Arusha ! ! Moshi is the flagship project and the ! Shinyanga firm focus Igunga

! Singida Tabora ! !Tanga • Portfolio of gold properties

in the prolific Lake Victoria ! Dodoma ! Zanzibar Goldfields of northern Tanzania TANZANIA ! Morogoro Dar Es Salaam

Lake Rukwa • Some strategically placed Ngualla Project ! Iringa Indian Western Australian Projects Ocean near Doolgunna (Cu-Au) ! Mbeya and Menzies (Au)

Lake Nyasa ! Lindi Mtwara ! ZAMBIA N ! Songea

0 100 200 300 400km

MALAWI Ngualla Rare Earth Project

• Centred on the Ngualla Carbonatite. • Joint Venture with Zari Exploration Ltd. Peak managers earning to 80%. Conditional agreement signed to acquire 100% • Geological similarities to Mt Weld (Lynas Corp. Ltd) • Also highly prospective for niobium – tantalum and phosphate

A Carbonatite 0 1 2km A Alteration Zone

Mt Weld Ngualla Project A Central REO A +3% REO in Soils Lanthanide Deposit A +0.5% Niobium A Niobium-Tantalum Oxide in Soils Crown Deposit What are Rare Earths?

• The REE group includes Ngualla Project: the 15 lanthanide elements, Rare Earth Oxide Distribution A Cerium plus yttrium and scandium Cerium 48.4% 48.4% A Lanthanum 27.4% • Rare earths are essential A Neodymium 16.3% components of high growth A Praseodymium 4.66% A Samarium 1.56% markets in electronics and A Gadolinium 0.67% energy efficiency industries A Europium 0.31% Lanthanum Neodymium A Other 0.63% 27.4% 16.3%

Organic Growth Uses:

Clean technology Digital technology The Rare Earth Market

• China controls 97% of supply • Increasing consumption • Escalating prices

Global Rare Earth Metal Oxide Production Rare Earth Metal Oxide Price (,000 tonnes) ($US per tonne)

China USA Other Nd Oxide Pr Oxide La Oxide Ce Oxide

140 350,000

120 300,000

100 250,000

80 200,000

60 150,000

40 100,000

20 50,000

1956 1965 1985 2002 2008 2004 2005 2006 2007 2008 2009 2010 2011 Source: Metal – Pages Ltd Evolution of a Discovery

• Licence granted September 2009. Surface sampling and geological mapping identify phosphate, RE and niobium – tantalum exploration targets

Geology A Felsic Volcanic 9150000 mN A Fenite Carbonatite: A Outer Zone A Intermediate Zone A Central Zone A Ultramafic

9149000 mN

3.8km x 3.8km

Mt. Ngualla Mt. Ngualla 9148000 mN

9147000 mN

0 500 1000m 0 500 1000m

480000 mE 480000 mE 481000 mE 482000 mE 483000 mE 484000 mE Satellite Image, Ngualla Carbonatite Geological map, Ngualla Carbonatite Evolution of a Discovery

• Licence granted September 2009. Surface sampling and geological mapping identify phosphate, RE and niobium – tantalum exploration targets

REO % Niobium % — 1.4 — 0.3 — 2.0 — 0.49150000 mN 9150000 mN — 2.4 — 0.5 — 3.0 — 0.6 — 3.4 — 0.7 — 4.0 — 0.8

9149000 mN 9149000 mN

Mt. Ngualla 9148000 mN Mt. Ngualla 9148000 mN

9147000 mN 9147000 mN

0 500 1000m 0 500 1000m

480000 mE 480000 mE 481000 mE 482000 mE 483000 mE 480000 mE 484000 mE 480000 mE 481000 mE 482000 mE 483000 mE 484000 mE REO in surface sampling Niobium in surface sampling June 2010 First drilling programme Evolution of a Discovery

• Extensive Rare Earth, niobium– tantalum & phosphate! discovered in alluvial zones

!!! ! October 2010 9m @ 2.07% REO Selected REO intersections from surface to EOH from Aircore drilling ! ! ! ! ! ! ! ! ! Max REO % in Aircore: ! <0.5 NAC256 ! 1 to 2 ! ! ! ! ! ! ! ! ! ! ! 2 to 3 ! 3 to 5 CENTRAL HILLS AREA ! >5 ! ! ! ! ! ! ! ! ! ! ! ! Surface samples REO %: 1.4 — ! ! ! ! ! ! ! ! ! — 2.0 — 2.4 — 3.0 !!!!!!!!! ! !!!!! ! ! ! ! ! ! ! ! ! ! — 3.4 ! Mt.Mt. Ngualla Ngualla ! — 4.0 ! ! ! ! !!!!!!!!!!!!! !!!!! !!! ! ! ! ! ! ! !

! ! ! !!!!!!!!!!!!!!!!!!!!!!!! 30m @ 3.08% REO from surface to EOH ! ! !!!!!!!!!!!!!!!!!!!!!!!!!!!!! !!!!! 21m @ 2.75% REO from surface to EOH NAC082 NAC086 ! ! ! ! ! ! ! !!!!!!!!!!!!!!!!!!!!!!!!!!! 12m @ 3.56% REO from surface

NAC375 NAC376 ! ! ! ! ! !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! 22m @ 2.73% REO N from surface to EOH 0 250 500 1000m ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! !!!!!!!!!!!!!!!!!!!!!! ! !!!!!!!!!!!!!! !

! ! ! ! ! ! ! !!! !!!!! !!!!!!!!!!!! !!!!!!!!!!!!!!! ! June 2010 First drilling programme Evolution of a Discovery

• Extensive Rare Earth, niobium– tantalum & phosphate! discovered in alluvial zones

! ! ! !!!!!!!!!!!!!!!!!!!!!!!! 30m @ 3.08% REO from surface to EOH ! ! !!!!!!!!!!!!!!!!!!!!!!!!!!!!! !!!!! Section 9,147,600mN 21m @ 2.75% REO from surface to EOH NAC082 NAC086 ! ! ! ! ! ! ! !!!!!!!!!!!!!!!!!!!!!!!!!!! 12m @ 3.56% REO from surface

NAC375 NAC376 ! ! ! ! ! !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! 22m @ 2.73% REO N from surface to EOH 0 250 500 1000m ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! !!!!!!!!!!!!!!!!!!!!!! ! !!!!!!!!!!!!!! !

! ! ! ! ! ! ! !!! !!!!! !!!!!!!!!!!! !!!!!!!!!!!!!!! ! June 2010 Alluvial cross section Evolution of a Discovery

WEST EAST

12m @ 3.72%

10m@ 3.65% (EOH) 8m @ 3.44% 28m @ 3.27% 10m@ 3.26% (EOH) 12m @ 3.50%

NAC087 (EOH) 10m @ 3.43% 20m @ 2.97% 10m @ 3.28% 9m@ 3.30% NAC367 NAC086 NAC366

10m @ 2.79% 12m @ 3.42% NAC085 11m 1500mRL NAC084 NAC364 NAC083 12m 18m NAC363 Alluvial NAC080 NAC082 13m NAC362 9m NAC361 NAC081 10m 27m Weathered 17m

18m 24m

22m 22m 30m 25m 32m 1450mRL

200m 0 50 100 200m

481200mE 481400 mE 481600 mE

SECTION 9,147,600mN REO %: Intersections calculated using a 2% REO lower cut A A NGUALLA PROJECT 0.5 to 1% 2 to 4% SOUTHERN RARE EARTH ZONE A 1 to 2% A >4% REO = total rare earth oxide including yttrium OCTOBER 2010 July 2010 RC discovery holes Evolution of a Discovery

• Four recce RC drill holes in Central Hills area at the end of the first drilling program inter- sected significant bedrock rare earths, niobium – tantalum and phosphate mineralisation

October 2010 RC & Diamond Drilling Program 24m @ 0.39% Nb2O5 and Recon. Drill Holes 129ppm Ta2O5 from surface to EOH 30m @ 0.38% Nb2O5 and NRC 1 to 4 150ppm Ta2O5 and 13% phosphate from surface to EOH NRC 4

NRC 3

20m @ 3.53% REO from surface to EOH

Mt. Ngualla NRC 2 NRC 1

40m @ 3.29% REO from surface to EOH November 2010 Second drill program Evolution of a Discovery

• Angled RC and diamond drilling to test central bedrock zone. Results from the 21 holes received early Feb 2011 include: NRC011 64m at 5.48% REO from surface NRC015 46m at 6.67% REO from surface NRC006 42m at 4.09% REO from 12m

34m @ 2.35% 56m @ 3.55% 66m @ 3.56% from surface from surface to EOH from surface to EOH 64m @ 5.48% from surface Colluvium NRC007 NRC005 H NRC006 H WEST NRC014 EAST H 38m @ 3.42% 42m @ 3.29% H from 62m to EOH from surface

Weathered NRC008 H NRC011 38m @ 3.30%

H NRC012 from surface H NRC013 56 6 Fresh m 6m H 1600m NRC009

94 94m @ 2.10% m from surface to EOH

1 10 47m @ 1.14% m from 39m

10 80 0m m 8 0m 11 58m @ 2.32% 0m 30m @ 2.13% 0 50 100 200m from surface from 80m to EOH 9 0m 1500m 482200mE 482400mE 482600mE

SECTION 9,148,200mN DEC 2010 Intersection Labels % REO: A Weathered A Fresh % REO: A 1 to 2% A >2% A NSR April 2011 Resource drilling programme Evolution of a Discovery

• Rains December to April • Exploration camp re-established and ground preparation commenced April 2011 ! or 22,000m resource drilling program Northern Niobium – Tantalum Zone !!! ! • Southern Rare Earth Zone ! ! ! ! ! ! ! ! !

• Alluvials ! ! ! ! ! ! ! ! ! !

• Metallurgical test work commenced ! ! ! ! ! ! ! ! ! ! ! ! NE Alluvials • Exploration of Northern Nb-Ta ! ! ! ! ! ! ! ! !

and Phosphate Zone !!!!!!!!! ! !!!!! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! !!!!!!!!!!!!! !!!!! !!! ! ! ! ! ! ! !

! ! ! !!!!!!!!!!!!!!!!!!!!!!!! Southern Rare Earth Zone

! ! !!!!!!!!!!!!!!!!!!!!!!!!!!!!! !!!!!

! ! ! ! ! ! ! !!!!!!!!!!!!!!!!!!!!!!!!!!!

! ! ! ! ! !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! SW Alluvials ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! !!!!!!!!!!!!!!!!!!!!!! ! !!!!!!!!!!!!!! !

! ! ! ! ! ! ! !!! !!!!! !!!!!!!!!!!! !!!!!!!!!!!!!!! ! April 2011 Resource drilling programme Evolution of a Discovery

• Alluvials ! ! ! ! ! ! ! ! ! !

• Metallurgical test work commenced ! ! ! ! ! ! ! ! ! ! ! ! NE Alluvials • Exploration of Northern Nb-Ta ! ! ! ! ! ! ! ! !

and Phosphate Zone !!!!!!!!! ! !!!!! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! !!!!!!!!!!!!! !!!!! !!! ! ! ! ! ! ! !

! ! ! !!!!!!!!!!!!!!!!!!!!!!!! Southern Rare Earth Zone

! ! !!!!!!!!!!!!!!!!!!!!!!!!!!!!! !!!!!

! ! ! ! ! ! ! !!!!!!!!!!!!!!!!!!!!!!!!!!!

! ! ! ! ! !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! Resource Definition Drilling SW Alluvials ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! !!!!!!!!!!!!!!!!!!!!!! ! !!!!!!!!!!!!!! !

! ! ! ! ! ! ! !!! !!!!! !!!!!!!!!!!! !!!!!!!!!!!!!!! ! Sept 2011 Southern Rare Earth Zone Evolution of a Discovery

D D D D D D D D D D D 49m @ 6.37% from surface 84m @ 3.86% from surface

9148500 mE 9,148,450mN ! NRC015 NRC046 ! ! ! ! ! ! !

122m @ 2.06% from surface 22m @ 6.17% from 18m and D D 54m @ 2.53% from 54m D D D D D D D D D D 161m @ 3.88% from 12m to EOH 9,148,280mN NRC063 NRC058 NRC060 NRC062 ! NRC065 NRC067 D DD D ! ! NRC053 ! ! ! ! ! ! Mt. Ngualla D D 64m @ 5.48% REO from surface D D D D 9,148,200mN ! ! D D ! ! ! !! ! !! ! ! ! ! ! NRC011 ! ! ! !

D D D !! D D 48m @ 2.61% from surface and 8m @ 5.35% from 36m

D D D D ! ! NRC090 ! NRC091

64m @ 5.26% from surface 131m @ 5.23% from surface ! 660m ! NRC057 9,148,000mN NRC061 NRC059 ! ! NRC027 NRC028 ! ! D ! ! NRC026 ! ! ! ! ! !!

103m @ 1.91% from surface 9148000 mE 56m @ 5.09% from surface 131m @ 4.27% from surface to EOH ! ! NRC092 NRC089 D D D D D D D

34m @ 4.36% from surface 18m @ 4.41% from surface 56m @ 5.83% from surface 26m @ 6.56% from 24m 9,147,800mN NRC066 NRC064 NRC036 ! ! NRC043 ! NRC068 ! ! ! ! ! ! ! !

N 740m D 0 50 100 250m D D D D

482000 mE 482500 mE

SOUTHERN RARE Drill holes max REO %: Intersection labels REO %: REO % in soils: REO = total rare ! 1 to 2 ! 3 to 5 D Planned drilling A Previously reported highlights A >3 earth oxide EARTH! ! ZONE including yttrium ! ! A A 26.09.11 2 to 3 >5 Completed holes, results awaited New results highlights >2 39m @ 4.39% 12m @ 3.27% from surface WEST 56m @ 5.83% from 10m EAST from surface 40m @ 2.93% 68m @ 3.33% 26m @ 6.56% from surface from surface from 24m Colluvium 12m @ 3.09% 9m @ 4.75% NRC041 from 44m NRC039 H from 84m NRC042 H | H 52m @ 3.67% NRC037 NRC043 from 62m H H NRC034

H 20m @ 3.57% NRC032 from surface H

NRC030 H Weathered 1600mRL Fresh 14m @ 1.67% from 42m 11 2m

12 0m 12 0m 12 44m @ 1.50% 12 0m 0m from 76m to EOH 12 0m 16m @ 1.22% 12m @ 1.73% 12 0m from 68m 14m @ 1.22% Mineralisation open and untested from 100m 88m @ 2.38% from 106m to EOH 1 to the south and east of NRC043 1500mRL 20 from 20m m 8m @ 1.90% from 112m to EOH 10m @ 1.72% from 110m to EOH Carbonatite

Primary mineralisation open down dip over 370m

0 50 100 200m

1400mRL 482200mE 482400mE 482600mE SECTION 9,147,800mN 2011 Drill holes completed Intersection labels REO%: REO %: H Results received A Weathered A 1 to 2% A NSR Section 9,147,800mNNGUALLA PROJECT SOUTHERN RARE EARTH ZONE H Results pending A Fresh A >2% SEPT 2011

39m @ 4.39% 12m @ 3.27% from surface WEST 56m @ 5.83% from 10m EAST from surface 40m @ 2.93% 68m @ 3.33% 26m @ 6.56% from surface from surface from 24m Colluvium 12m @ 3.09% 9m @ 4.75% NRC041 from 44m NRC039 H from 84m NRC042 H | H 52m @ 3.67% NRC037 NRC043 from 62m H H NRC034

H 20m @ 3.57% NRC032 from surface H

NRC030 H Weathered 1600mRL Fresh 14m @ 1.67% from 42m 11 2m

Primary mineralisation open down dip over 370m

0 50 100 200m

1400mRL 482200mE 482400mE 482600mE SECTION 9,147,800mN 2011 Drill holes completed Intersection labels REO%: REO %: H A A A NGUALLA PROJECT Results received Weathered 1 to 2% NSR SOUTHERN RARE EARTH ZONE H Results pending A Fresh A >2% SEPT 2011 39m @ 4.39% 12m @ 3.27% from surface WEST 56m @ 5.83% from 10m EAST from surface 40m @ 2.93% 68m @ 3.33% 26m @ 6.56% from surface from surface from 24m Colluvium 12m @ 3.09% 9m @ 4.75% NRC041 from 44m NRC039 H from 84m NRC042 H | H 52m @ 3.67% NRC037 NRC043 from 62m H H NRC034

H 20m @ 3.57% NRC032 from surface H

NRC030 H Weathered 1600mRL Fresh 14m @ 1.67% from 42m 11 2m

Primary mineralisation open down dip over 370m

0 50 100 200m

1400mRL 482200mE 482400mE 482600mE SECTION 9,147,800mN 2011 Drill holes completed Intersection labels REO%: REO %: H Results received A Weathered A 1 to 2% A NSR Section 9,148,000mNNGUALLA PROJECT SOUTHERN RARE EARTH ZONE H Results pending A Fresh A >2% SEPT 2011

WEST 120m @ 4.45% 144m @ 5.14% 14m @ 4.71% EAST from surface to EOH from surface to EOH from surface

14m @ 2.00% 56m @ 5.09% 23m @ 2.75% from surface from surface from 75m

NRC027 NRC028 NRC026 H H NRC029 H Colluvium NRC025 H

H NRC023 NRC024 H H

Fresh 1600mRL Weathered

41m @ 1.30% from 14m 98m

1 20 22m @ 1.50% m from 56m 12 0m 14 4m 12 12 0m 0m 28m @ 1.83% from 92m 114m @ 1.98% 34m @ 1.82% 1 17 40 from surface from 86m 7m m 32m @ 1.47% from 144m to EOH Ultramafic

Carbonatite 0 50 100 200m

1400mRL 482200mE 482400mE SECTION 9,148,000mN 2011 Drill Holes Completed Intersection Labels % REO % REO H A NGUALLA PROJECT Results received A Weathered 1 to 2% H A SOUTHERN RARE EARTH ZONE Results pending A Fresh >2% SEPT 2011 A No Sample Recovered 39m @ 4.39% 12m @ 3.27% from surface WEST 56m @ 5.83% from 10m EAST from surface 40m @ 2.93% 68m @ 3.33% 26m @ 6.56% from surface from surface from 24m Colluvium 12m @ 3.09% 9m @ 4.75% NRC041 from 44m NRC039 H from 84m NRC042 H | H 52m @ 3.67% NRC037 NRC043 from 62m H H NRC034

H 20m @ 3.57% NRC032 from surface H

NRC030 H Weathered 1600mRL Fresh 14m @ 1.67% from 42m 11 2m

Primary mineralisation open down dip over 370m

0 50 100 200m

1400mRL 482200mE 482400mE 482600mE SECTION 9,147,800mN 2011 Drill holes completed Intersection labels REO%: REO %: H Results received A Weathered A 1 to 2% A NSR Section 9,148,200mNNGUALLA PROJECT SOUTHERN RARE EARTH ZONE H Results pending A Fresh A >2% SEPT 2011

92m @ 3.13% 93m @ 3.62% 29m @ 4.51% from surface from 32m from surface WEST 38m @ 3.36% EAST from surface 68m @ 3.19% 86m @ 3.38% 101m @ 2.86% from surface from 32m from surface 34m @ 2.35% from surface 38m @ 3.42% 42m @ 3.29% 60m @ 1.94% NRC007 from 62m to EOH from surface NRC047 from 42m NRC005 NRC006 H H NRC044 H NRC049 NRC014 H H H 64m @ 5.48% NRC040 H NRC052 NRC038 H H from surface H NRC054

H NRC008

H NRC011 Colluvium H NRC012

H NRC013 56 6 m 6m H 1600mRL

9 4m Weathered Fresh

1 11 20 0m m

1 29 10 80 47m @ 1.79% 42m @ 1.40% m 0m m 12 from 39m from 78m to EOH 8 0m 0m 1 10 1 m 22m @ 1.29% 30m 25m @ 1.98% 30m @ 3.13% 22m @ 1.89% from 114m from 125m to EOH from 86m to EOH 1500mRL from 116m 1 18 78 0m 18 m 40m @ 1.56% 0m 59m @ 1.62% 58m @ 2.32% from 140m to EOH from 121m to EOH from Surface

Ultramafic Carbonatite

See Table 1 for full intersection details. REO = total rare earth oxide including yttrium 0 50 100 200m

1400mRL 482000mE 482200mE 482400mE SECTION 9,148,200mN 2011 Drill Holes Completed Intersection Labels % REO % REO H A A NGUALLA PROJECT Results received New results (weathered) 1 to 2% H A SOUTHERN RARE EARTH ZONE Results pending A New results (fresh) >2% H A Results reported A Previously reported No Sample Recovered 39m @ 4.39% 12m @ 3.27% from surface WEST 56m @ 5.83% from 10m EAST from surface 40m @ 2.93% 68m @ 3.33% 26m @ 6.56% from surface from surface from 24m Colluvium 12m @ 3.09% 9m @ 4.75% NRC041 from 44m NRC039 H from 84m NRC042 H | H 52m @ 3.67% NRC037 NRC043 from 62m H H NRC034

H 20m @ 3.57% NRC032 from surface H

NRC030 H Weathered 1600mRL Fresh 14m @ 1.67% from 42m 11 2m

Primary mineralisation open down dip over 370m

0 50 100 200m

1400mRL 482200mE 482400mE 482600mE SECTION 9,147,800mN 2011 Drill holes completed Intersection labels REO%: REO %: H Results received A Weathered A 1 to 2% A NSR Section 9,148,280mNNGUALLA PROJECT SOUTHERN RARE EARTH ZONE H Results pending A Fresh A >2% SEPT 2011

WEST 161m @ 3.88% EAST from 12m to EOH including 12m @ 1.83% 74m @ 4.71% 36m @ 3.48% 122m @ 2.06% 32m @ 2.36% 26m @ 5.51% from surface from 20m from surface from surface from 22m from 14m

32m @ 2.38% 18m @ 3.30% from surface 10m @ 3.30% 8m @ 2.89% from 16m NRC056 from surface from surface H NRC058 NRC053 H H 26m @ 2.42% 34m @ 1.96% 12m @ 2.50% NRC051 NRC060 from 46m from surface from surface H H NRC062

H NRC063

H Weathered NRC065 Colluvium H NRC067 H 20m @ 1.36% from 42m Fresh

12 Fresh Weathered 0m 14m @ 1.23% 54m @ 2.53% from 30m from 54m 12 18m @ 1.30% 4m 1 1 80 from 140m 50m @ 1.31% 73 m 12 m 30m @ 1.75% 0m from 48m 12 from 102m 0m 12 1m 12 12m @ 1.47% 0m 18 from 168m to EOH 0m 40m @ 2.01% from 140m to EOH Ultramafic Carbonatite

0 50 100 200m

482000mE 482200mE 482400mE 482600mE SECTION 9,148,280mN 2011 Drill holes completed: Intersection labels REO %: REO %: H A A NGUALLA PROJECT Results received New results (weathered) 1 to 2 H A SOUTHERN RARE EARTH ZONE Previously reported A New results (fresh) >2 A No Sample Recovered 26.09.11 A Previously reported 39m @ 4.39% 12m @ 3.27% from surface WEST 56m @ 5.83% from 10m EAST from surface 40m @ 2.93% 68m @ 3.33% 26m @ 6.56% from surface from surface from 24m Colluvium 12m @ 3.09% 9m @ 4.75% NRC041 from 44m NRC039 H from 84m NRC042 H | H 52m @ 3.67% NRC037 NRC043 from 62m H H NRC034

H 20m @ 3.57% NRC032 from surface H

NRC030 H Weathered 1600mRL Fresh 14m @ 1.67% from 42m 11 2m

Primary mineralisation open down dip over 370m

0 50 100 200m

1400mRL 482200mE 482400mE 482600mE SECTION 9,147,800mN 2011 Drill holes completed Intersection labels REO%: REO %: H Results received A Weathered A 1 to 2% A NSR Section 9,148,450mNNGUALLA PROJECT SOUTHERN RARE EARTH ZONE H Results pending A Fresh A >2% SEPT 2011

WEST EAST

50m @ 3.55% 49m @ 6.37% 84m @ 3.86% from surface from surface from surface including 66m at 4.42% 16m @ 1.21% 50m @ 1.65% from 8m Results pending NRC045 from 46m from surface H 8m @ 1.74% NRC015

H from 24m NRC076 18m @ 1.61% H 66m @ 2.43% NRC016 from surface H NRC046 Colluvium NRC017 from surface H H NRC018

H 1600mRL NRC048

H NRC050 Fresh H 24m @ 1.80% Weathered 8 from 90m 5m 5 21m @ 1.64% 2m from 64m to EOH 71m @ 2.81% 22m @ 1.71% 8 16m @ 1.58% 10 5m from 14m to EOH 14m @ 2.25% from 64m 0m from 36m to EOH from 146m 8 12 3m 0m 9 4m 1 80m

Ultramafic Carbonatite 0 50 100 200m

1400mRL 482200mE 482400mE SECTION 9,148,450mN 2011 Drill Holes Completed Intersection Labels % REO % REO H A NGUALLA PROJECT Results received A Weathered 1 to 2% H A SOUTHERN RARE EARTH ZONE Results pending A Fresh >2% SEPT 2011 A No Sample Recovered Mineralogy and Metallurgy

• Rare earths occur as the carbonates synchysite and basnaesite, not monazite. • Very low uranium and thorium levels - average of 20ppm U and 38ppm Th in Southern Rare Earth Zone mineralisation above 1% REO.

• Benefication and metallurgical Crushing & Grinding 100kg bulk sample test work currently in progress using Bateman and Amdel in Mineralogy Perth, WA, to determine optimum Sizing processing routes. • Iron oxide and primary carbonatite mineralisation may be amenable to different gravity, magnetic, Heavy Liquid Gravity Magnetic Acid flotation concentration or direct Flotation Separation Separation Separation Leaching acid leach extraction techniques. Exploration Targets Evolution of a Discovery

• Northern Niobium – Tantalum – Phosphate Zone

September 2010 22m @ 0.91% Nb2O5 and Northern Nb-Ta- 213ppm Ta2O5 from surface to EOH Phosphate Zone and 14m @ 20.6% Phosphate from 8m

62.3m @ 0.70% Nb2O5 and NDD002 245ppm Ta2O5 from surface and 60.85m @ 21.0% Phosphate from 1.45m

20.6m @ 0.49% Nb2O5 and 94ppm Ta2O5 from 24.3m 74m @ 0.58% Nb2O5 and and NRC021 238ppm Ta2O5 from surface to EOH NDD003NRC020 5.15m @ 1.64% Nb2O5 and and 214ppm Ta2O5 and 52m @ 18.2% Phosphate from 22m 25.4% Phosphate from 51m Mt. Ngualla

NRC046NRC017

44m @ 0.54% Nb2O5 and 41ppm Ta2O5 from 32m

14m @ 0.66% Nb2O5 and 133ppm Ta2O5 from 32m Ngualla Project Upside Potential

• Complete 100% acquisition • Maiden JORC Rare Earth resource first quarter 2012 • Complete metallurgical test work on all material types • Commence scoping and feasibility studies • Evaluate Nb-Ta and phosphate potential • Increase the maiden rare earth resource Peak Resources Limited Level 1, 11 Ogilvie Road Mount Pleasant, Western Australia 6153 Tel +61 8 93169599 Fax +61 8 9316 9588 Email [email protected] Web: www.peakresources.com.au

ASX Code: PEK