6th January 2015

Issue of Performance Rights and Options

Pursuant to Shareholder approvals obtained at the General Meeting of the Company held on 1 July 2014 the Company advises that it has issued a total of 10,500,000 Performance Rights under the Company's Performance Rights Plan and a total of 19,150,000 Options under the Company's Employee Option Plan.

The requisite Appendix 3B is attached to this announcement.

Yours faithfully

Graeme Scott

CFO & Company Secretary

Peak Resources Limited Level 2, 46 Ord Street, West Perth, Western Australia 6005. PO Box 603, West Perth 6872. ASX: PEK ACN 112 546 700

Telephone: +61 8 9200 5360 info@peakresources.com.au www.peakresources.com.au

Non-executive Chairman: Alastair Hunter Managing Director: Darren Townsend Technical Director: Dave Hammond Non-Executive Director: Jonathan Murray Company Secretary: Graeme Scott

Appendix 3B

Rule 2.7, 3.10.3, 3.10.4, 3.10.5

New issue announcement,

application for quotation of additional securities and agreement

Information or documents not available now must be given to ASX as soon as available. Information and

documents given to ASX become ASX's property and may be made public.

Introduced 01/07/96 Origin: Appendix 5 Amended 01/07/98, 01/09/99, 01/07/00, 30/09/01, 11/03/02, 01/01/03, 24/10/05, 01/08/12, 04/03/13

Name of entity

Peak Resources Limited

ABN

72 112 546 700
We (the entity) give ASX the following information.

Part 1 - All issues

You must complete the relevant sections (attach sheets if there is not enough space).

1 +Class of +securities issued or to be issued
(a) Performance Rights
(b) Unlisted Options

2 Number of +securities issued or to be issued (if known) or maximum number which may be issued
(a) 10,500,000 (b) 19,150,000

3 Principal terms of the +securities (e.g. if options, exercise price and expiry date; if partly paid +securities, the amount outstanding and due dates for payment; if +convertible securities, the conversion price and dates for conversion)
(a) 2,500,000 vested Performance Rights expiring 5 January 2018
8,000,000 Performance Rights to vest on achievement of performance milestones
expiring 5 January 2018
(b) 6,383,334 vested Options exercisable at
$0.10 expiring 5 January 2017
6,383,333 Options vesting after 1 years continuous service, exercisable at $0.15 expiring 5 January 2018
6,383,333 Options vesting after 2 years continuous service, exercisable at $0.20
expiring 5 January 2018

+ See chapter 19 for defined terms.

04/03/2013 Appendix 3B Page 1

4 Do the +securities rank equally in all respects from the +issue date with an existing +class of quoted +securities?
If the additional +securities do not rank equally, please state:
 the date from which they do
 the extent to which they participate for the next dividend, (in the case of
a trust, distribution) or interest
payment
 the extent to which they do not rank equally, other than in relation to the next dividend, distribution or interest
payment
6 Purpose of the issue
(If issued as consideration for the acquisition of assets, clearly identify those assets)
No - Shares issued on exercise of Performance Rights & Options will rank equally with the existing Shares

Issue of Performance Rights and Options under the Company's Performance Rights Plan and Employee Option Plan pursuant to shareholder approval given on 1 July 2014

6a Is the entity an +eligible entity that has No obtained security holder approval under
rule 7.1A?
If Yes, complete sections 6b - 6h in relation to the +securities the subject of this Appendix 3B, and comply with section 6i

6b The date the security holder resolution under rule 7.1A was passed
N/A

6c Number of +securities issued without security holder approval under rule 7.1
N/A

6d Number of +securities issued with security holder approval under rule
7.1A
N/A

6e Number of +securities issued with security holder approval under rule 7.3, or another specific security holder
N/A

+ See chapter 19 for defined terms.

04/03/2013 Appendix 3B Page 2

approval (specify date of meeting)
6f Number of +securities issued under an exception in rule 7.2

N/A

6g If +securities issued under rule 7.1A, was issue price at least 75% of 15 day VWAP as calculated under rule 7.1A.3? Include the +issue date and both values. Include the source of the VWAP calculation.
N/A

6h If +securities were issued under rule
7.1A for non-cash consideration, state date on which valuation of
consideration was released to ASX Market Announcements
N/A

6i Calculate the entity's remaining issue capacity under rule 7.1 and rule 7.1A - complete Annexure 1 and release to ASX Market Announcements
N/A
7 +Issue dates
Note: The issue date may be prescribed by ASX (refer to the definition of issue date in rule 19.12). For example, the issue date for a pro rata entitlement issue must comply with the applicable timetable in Appendix 7A.
Cross reference: item 33 of Appendix
3B.
5 January 2015
8 Number and +class of all +securities quoted on ASX (including the
+securities in section 2 if applicable)

+ See chapter 19 for defined terms.

04/03/2013 Appendix 3B Page 3

9 Number and +class of all +securities not quoted on ASX (including the
+securities in section 2 if applicable)

10 Dividend policy (in the case of a trust, distribution policy) on the increased capital (interests)
N/A

Part 2 - Pro rata issue

+ See chapter 19 for defined terms.

04/03/2013 Appendix 3B Page 4

11 Is security holder approval required?

12 Is the issue renounceable or non- renounceable?

13 Ratio in which the +securities will be offered

14 +Class of +securities to which the offer relates

15 +Record date to determine entitlements

16 Will holdings on different registers (or subregisters) be aggregated for calculating entitlements?

17 Policy for deciding entitlements in relation to fractions

18 Names of countries in which the entity has security holders who will not be sent new offer documents
Note: Security holders must be told how their entitlements are to be dealt with.
Cross reference: rule 7.7.

19 Closing date for receipt of acceptances or renunciations
20 Names of any underwriters

21 Amount of any underwriting fee or commission
22 Names of any brokers to the issue

23 Fee or commission payable to the broker to the issue

24 Amount of any handling fee payable to brokers who lodge acceptances or renunciations on behalf of security holders

25 If the issue is contingent on security holders' approval, the date of the meeting

+ See chapter 19 for defined terms.

04/03/2013 Appendix 3B Page 5

26 Date entitlement and acceptance form and offer documents will be sent to persons entitled

27 If the entity has issued options, and the terms entitle option holders to participate on exercise, the date on which notices will be sent to option holders

28 Date rights trading will begin (if applicable)

29 Date rights trading will end (if applicable)

30 How do security holders sell their entitlements in full through a broker?

31 How do security holders sell part of their entitlements through a broker and accept for the balance?

32 How do security holders dispose of their entitlements (except by sale through a broker)?

33 +Issue date

Part 3 - Quotation of securities

You need only complete this section if you are applying for quotation of securities

34 Type of +securities
(tick one)
(a) +Securities described in Part 1 (b) All other +securities
Example: restricted securities at the end of the escrowed period, partly paid securities that become fully paid, employee incentive share securities when restriction ends, securities issued on expiry or conversion of convertible securities

Entities that have ticked box 34(a)

Additional securities forming a new class of securities

Tick to indicate you are providing the information or

+ See chapter 19 for defined terms.

04/03/2013 Appendix 3B Page 6

documents

35 If the +securities are +equity securities, the names of the 20 largest holders of the additional +securities, and the number and percentage of additional
+securities held by those holders
36 If the +securities are +equity securities, a distribution schedule of the additional
+securities setting out the number of holders in the categories
1 - 1,000
1,001 - 5,000
5,001 - 10,000
10,001 - 100,000
100,001 and over
37 A copy of any trust deed for the additional +securities

Entities that have ticked box 34(b)

38 Number of +securities for which
+quotation is sought

39 +Class of +securities for which quotation is sought

40 Do the +securities rank equally in all respects from the +issue date with an existing +class of quoted +securities?
If the additional +securities do not rank equally, please state:
 the date from which they do
 the extent to which they participate for the next
dividend, (in the case of a
trust, distribution) or interest payment
 the extent to which they do not rank equally, other than in relation to the next dividend,
distribution or interest
payment

41 Reason for request for quotation now
Example: In the case of restricted securities, end of restriction

+ See chapter 19 for defined terms.

04/03/2013 Appendix 3B Page 7

period
(if issued upon conversion of another +security, clearly identify that other +security)
42 Number and +class of all
+securities quoted on ASX (including the +securities in
clause 38)

Quotation agreement

1 +Quotation of our additional +securities is in ASX's absolute discretion. ASX may
quote the +securities on any conditions it decides.
2 We warrant the following to ASX.
 The issue of the +securities to be quoted complies with the law and is not for an illegal purpose.
 There is no reason why those +securities should not be granted +quotation.
 An offer of the +securities for sale within 12 months after their issue will not require disclosure under section 707(3) or section 1012C(6) of the Corporations Act.

Note: An entity may need to obtain appropriate warranties from subscribers for the securities in order to be able to give this warranty

 Section 724 or section 1016E of the Corporations Act does not apply to any applications received by us in relation to any +securities to be quoted and that no-one has any right to return any +securities to be quoted under sections 737, 738 or 1016F of the Corporations Act at the time that we request that the +securities be quoted.
 If we are a trust, we warrant that no person has the right to return the

+securities to be quoted under section 1019B of the Corporations Act at the time that we request that the +securities be quoted.

3 We will indemnify ASX to the fullest extent permitted by law in respect of any claim, action or expense arising from or connected with any breach of the warranties in this agreement.
4 We give ASX the information and documents required by this form. If any information or document is not available now, we will give it to ASX before

+quotation of the +securities begins. We acknowledge that ASX is relying on the information and documents. We warrant that they are (will be) true and complete.

+ See chapter 19 for defined terms.

04/03/2013 Appendix 3B Page 8

Sign here:

Graeme Scott

(Company secretary)
Date: 6 January 2015
Print name: Graeme Scott
== == == == ==

+ See chapter 19 for defined terms.

04/03/2013 Appendix 3B Page 9