23 November 2015

Peak appoints Peter Harold as Non-Executive Chairman

Peak Resources Limited ('Peak' or the 'Company'; ASX Code: PEK) is pleased to advise that Peter Harold will join the Company as Non-Executive Chairman effective from 1 December 2015.

Peter Harold has a Bachelor of Applied Science in Chemistry and has almost 30 years operational and corporate experience in the minerals industry specialising in financing, marketing, and business development and building successful cash flow generating Companies.

Peter was a founding director of Panoramic Resources Limited in 2001 (then Sally Malay Mining) with a group of seed investors and has been responsible for managing the Company through the development phase of the $65 million Savannah (formerly the Sally Malay) Nickel Project in the Kimberley region of WA and the acquisition of five other resource projects. The development of Savannah included negotiating a life-of-mine offtake agreement with Sino Mining International/Jinchuan Group in China, completing a

$50 million bank financing facility with Macquarie/Standard Bank and a $20 million equity raising. Peter and his executive team have been instrumental in growing Panoramic from the initial $3 million IPO to a cash flow generating business with two operating nickel mines and a market capitalisation that peaked at over $1.2 billion prior to the global financial crisis.

Peter has extensive experience with the development and operation of both sulphide and laterite nickel projects having been responsible for metals marketing and various corporate functions relating to the Scuddles/Golden Grove copper lead zinc mine, Cawse nickel laterite project and the Silver Swan and Mt Keith nickel sulphide projects.

He has held various senior management positions with Shell Australia, Australian Consolidated Minerals Limited, Normandy Mining Limited, MPI Mines Limited and the Gutnick network of companies prior to founding Panoramic Resources Limited in 2001. Peter's current board roles include Managing Director of Panoramic Resources Limited and Non-Executive Director with Pacifico Minerals Limited. From March 2007 until June 2014 Peter was Chairman of Spectrum Rare Earths.

Peter will take over the Chairmanship from Jonathan Murray and the board would like to thank Jonathan for his stewardship of the Company during the recently completed financing transaction with Jersey-based Appian Natural Resources Fund ('Appian') and International Finance Corporation ('IFC'). Mr. Murray will continue in his role on the Peak board as a Non-Executive Director.

For and on behalf of Peak Resources Limited.

Darren Townsend Managing Director

Peak Resources Limited Ground Floor, 5 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: Jonathan Murray Managing Director: Darren Townsend Technical Director: Dave Hammond Non-Executive Directors: Robin Mills and John Jetter

Company Secretary: Graeme Scott

About Peak

Peak is an ASX-listed Company developing the Ngualla Rare Earth Project in Tanzania in conjunction with its partners Appian and IFC. Ngualla is a large high grade rare earth deposit, particularly rich in the high growth magnet metals neodymium and praseodymium. Peak has commenced the Bankable Feasibility Study for the Ngualla Project and has appointed AMEC Foster Wheeler as the lead engineer for the study.