Peak Resources Limited

The Directors of Peak Resources Limited (ASX:PEK) are pleased to provide an update on the negotiations currently underway with a significant Cornerstone Investor

Peak Resources Limited (ASX:PEK) (OTCQX:PKRLY), is pleased to announce reductions in both operating and capital costs at its 100% owned Ngualla Rare Earth Project in Tanzania.

Peak Resources Limited (ASX:PEK) (OTCQX:PKRLY) is rapidly progressing the development of its 100% owned Ngualla Rare Earth Project in Tanzania. Ngualla is on track to become the next major rare earth supplier with high grade mineralisation and a simple, proven metallurgical process supporting a low cost operation.

Peak Resources Limited (ASX:PEK) is pleased to announce that it has today completed a placement, to sophisticated or professional investors, for the issue of approximately 20.8 million fully paid ordinary shares to raise $2.5m (before costs) ("Placement").

Peak Resources Ltd (ASX:PEK) is pleased to advise the market that the Company has entered into a non-binding Memorandum of Understanding (MOU) for a transaction which will see the Ngualla Rare Earth Project fully funded through to production.

Peak Resources Limited (ASX:PEK) (OTCQX:PKRLY) is rapidly progressing the development of its 100% owned Ngualla Rare Earth Project in Tanzania. Ngualla is on schedule to become the next major rare earth supplier with high grade mineralisation and a simple, proven metallurgical process supporting a low cost operation.

Peak Resources Limited (ASX:PEK) is pleased to report a revised Mineral Resource estimate for the Ngualla Rare Earth Project in southern Tanzania. The new estimate incorporates the 13,600m of additional drilling completed in 2012 and is reported according to the 2004 JORC Code and Guidelines.

Peak Resources Limited (ASX:PEK) is pleased to report encouraging assay results received from an additional 15 drill holes of the 2011 resource drilling program currently in progress at the Ngualla Rare Earth Project in southern Tanzania.

Peak Resources Limited (ASX:PEK) has entered into a conditional agreement to acquire all the issued capital of Tanzanian Joint Venture partner Zari Exploration Ltd (Zari). The acquisition will give Peak 100% ownership of the Ngualla Rare Earth Project in Tanzania (Ngualla Project) and offer the Company a greater flexibility of options in taking the project forward for the benefit of current Peak shareholders. Currently, Peak as operator and manager is earning 80% equity in the Ngualla Project by carrying Zari through to the completion of a bankable feasibility study.

Peak Resources Limited (ASX:PEK) is pleased to report the second batch of assay results received from the 2011 resource drilling program at the Ngualla Rare Earth Project in southern Tanzania.