Ngualla Project a large New rare eartH discovery Disclaimer The information in this document has been prepared as at March 7th, 2012. Certain statements contained in this document constitute “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and forward looking information under the provisions of Canadian provincial securities laws. When used in this document, the words “anticipate”, “expect”, “estimate”, “forecast”, “will”, “planned”, and similar expressions are intended to identify forward-looking statements or information. Such statements include without limitation: statements regarding timing and amounts of capital expenditures and other assumptions; estimates of future reserves, resources, mineral production, optimization efforts and sales; estimates of mine life; estimates of future internal rates of return, mining costs, cash costs, mine site costs and other expenses; estimates of future capital expenditures and other cash needs, and expectations as to the funding thereof; statements and information as to the projected development of certain ore deposits, including estimates of exploration, development and production and other capital costs, and estimates of the timing of such exploration, development and production or decisions with respect to such exploration, development and production; estimates of reserves and resources, and statements and information regarding anticipated future exploration; the anticipated timing of events with respect to the Company’s mine sites and statements and information regarding the sufficiency of the Company’s cash resources. Such statements and information reflect the Company’s views as at the date of this document and are subject to certain risks, uncertainties and assumptions, and undue reliance should not be placed on such statements and information. Many factors, known and unknown could cause the actual results to be materially different from those expressed or implied by such forward looking statements and information. Such risks include, but are not limited to: the volatility of prices of gold and other metals; uncertainty of mineral reserves, mineral resources, mineral grades and mineral recovery estimates; uncertainty of future production, capital expenditures, and other costs; currency fluctuations; financing of additional capital requirements; cost of exploration and development programs; mining risks; community protests; risks associated with foreign operations; governmental and environmental regulation; the volatility of the Company’s stock price; and risks associated with the Company’s byproduct metal derivative strategies. For a more detailed discussion of such risks and other factors that may affect the Company’s ability to achieve the expectations set forth in the forward- looking statements contained in this document, see the Company’s Annual Report for the year ended December 31, 2010, as well as the Company’s other filings with the Australian Securities Administrators and the U.S. Securities and Exchange Commission. The Company does not intend, and does not assume any obligation, to update these forward-looking statements and 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 mineralisation 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. 2 Outline 1/ Corporate Details 2/ Rare Earth Markets 3/ Ngualla Rare Earth Project 4/ Maiden Resource 5/ Project Advantages 6/ Development Schedule Investment Highlights Moving from Explorer to Developer • Maiden Resource – 29th February 2012 • 4th largest rare earth deposit outside of China • Highest grade of the six largest deposits • Low market cap for size of resource – significant upside • 100% ownership • Distinct project advantages support Peak’s aim to be in the lower cost quartile of producers • Encouraging early stage metallurgical test results • Niobium – tantalum, phosphate and rare earth exploration upside • Scoping studies commencing 4 Corporate Details ASX: PEK 1st March 2012 Ordinary Shares on Issue: 207.1m Options outstanding: 11,041,667 Cash at 1st March: $6.6m Liquidity: 1.8 million shares per day (av. over 3 months) 52 week range: $0.26 - $0.87 IPO Date: 29 November 2006 Market Cap: $111.8m (at $0.54) Share Price (01 July 2010 – 1st March 2012) $0.89 – $0.79 – $0.69 – $0.59 – $0.49 – $0.39 – $0.29 – $0.19 – $0.09 – 01 JULy 2010 30 SEPT 2010 30 DEC 2010 31 MAR 2011 30 JUNE 2011 29 SEPT 2011 29 DEC 2011 Board and Senior Management Consultants Alastair Hunter Non-executive Chairman Resource consultants: Hellman & Schofield Pty Ltd Richard Beazley Managing Director Metallurgical & mineral processing: Bateman Engineering Pty Ltd Dave Hammond Technical Director Mineral processing test laboratory: Amdel Jonathan Murray Non-executive Director Legal representation: Australia: Steinepreis Paganin Linda Paini Company Secretary Tanzania: AKO Law Brian Lloyd Exploration Manager (Tanz) Auditor: Deloitte Touche Tohmatsu 5 The Rare Earth Market • Growth markets in renewable energy and advanced technologies Digital technology Clean energy • China controls 97% of supply, export restrictions, price increases, the West is searching for alternative supply Global Rare Earth Metal Oxide Production (,000 tonnes) Rare Earth Metal Oxide Price ($US per tonne) 140 China 350,000 Nd Oxide USA Pr Oxide 120 Other 300,000 La Oxide Ce Oxide 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 6 Location and Infrastructure • Tanzania – an established mining culture Ngualla Project • Third largest gold producer UGANDA 56km in Africa Lake Victoria • Access to transportation KENYA B6 B363 147km TANZANIA Dar Es Salaam Lake Rukwa Ngualla Project Lake Rukwa Indian B345 Ocean ! Mbeya ZAMBIA N Lake Nyasa 0 100 200 400km Dar Es Salaam Port 750km • OnsiteMALAWI power required A104 N • Good potential 0 10 25 50km Mbeya for groundwater 7 Resource and exploration drilling • Virgin discovery – August 2010 • 26,700m drilling for the resource Max DH REO %: A 1 to 2% A 2 to 3% Northern Niobium – Tantalum, A 3 to 5% Phosphate Zone A >5% Northern Niobium – Tantalum, Phosphate Zone Max DH REO %: ! <1% OPEN ! 1 – 2% ! 2 – 3% ! 3 – 5% ! > 5% Southern Rare Earth Zone OPEN OPEN SW Alluvials 8 Maiden JORC Resource 29th February 2012 • Ngualla Mineral Resource – 1.0% and 3.0% cut off grades Classification of Mineral Resources for the Ngualla Rare Earth Project, 1.0% and 3.0% REO cut-off grades. Lower cut – off Resource Tonnage REO Contained grade Category (Mt) (%)* REO tonnes Measured 29 2.61 750,000 Indicated 69 2.43 1,700,000 1.0% REO Inferred 72 1.92 1,400,000 Total 170 2.24 3,800,000 Measured 11 3.99 430,000 Indicated 21 4.09 850,000 3.0% REO Inferred 8.7 4.11 360,000 Total 40 4.07 1,600,000 *REO (%) includes all the lanthanide elements plus yttrium oxides. The information in this report that relates to Mineral Resources is based on information compiled by Rob Spiers, who is a member of The Australasian Institute of Geoscientists. Rob Spiers is an employee of geological consultants Hellman and Schofield Pty Ltd. Rob Spiers has sufficient experience which is relevant to the style of mineralisation 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 and Ore Reserves’. Rob Spiers consents to the inclusion in the report of the matters based on his information in the form and context in which it appears. 9 Global top 4 Rare Earth Deposit • Ngualla is a large, high grade, globally significant rare earth deposit • It is the highest grade of the 6 largest deposits outside of China • Shallow resource and outcropping high grade mineralisation positions Ngualla as a potential low cost open pit mine Project Comparisons 12 9 REO grade % 375m 8 10 Contained REO (Mt) 300m 350m Depth to base of resource 7 8 6 5 6 240m 155m 450m 4 REO Grade (%) 4 3 Contained REO (Mt) 126m 600m 155m 2 2 1 0 0 Eldor Niobec Dubbo Montviel Nora Karr Wigu Hill Kvanefjeld Bear Lodge Nechalacho Strange Lake Mount Weld Nolan’s Bore Ngualla (Bulk) Mountain Pass Zandkorpsdrift Source: Company filings and Technology Metals Research Ngualla (High Grade) 10 Neodymium Dysprosium Critical Rare Earths 4 (high) Lithium Europium Terbium 5 rare earths are forecast to Critical 3 Tellurium Yttrium be in critical undersupply: Near-Critical Not Critical Nickel Cerium Lanthanum • Neodymium, 2 Cobalt Manganese Gallium Praseodymium • Dysprosium Indium • Europium Samarium • Terbium Importance to clean energy 1 (low) • yttrium 1(low) 2 3 4 (high) Supply risk Critical REO as % of total 20.0 Eu 15% La 11% 20% – 19.8 17.0 Dy 3% 16.1 Pr 10% 15% – Gd 2% 12.2 10% – Ce 20% Sm 1% Y 1% 5% – Other 1% Nd 35% 0 – Ngualla SREZ Ngualla SW Mountain Baiyunebo Mt Weld alluvials