Peak Resources Limited (ASX:PEK) Annual Report to Shareholders

Perth, Australia (ABN Newswire) - The year saw Peak Resources Ltd. (ASX:PEK) make rapid progress in the development of its 100% owned Ngualla Rare Earth Project in Tanzania.

An infill resource drilling program consisting of 130 holes for 13,600 metres was completed during the dry season between May and November 2012. Drilling focused on the Bastnaesite Zone, mineralogically the most favourable area of the greater Ngualla deposit and identified for initial production.

The drilling supported a revised Mineral Resource estimate that was completed in April 2013. The weathered Bastnaesite Zone is now a high confidence, well defined Mineral Resource with 86% in the highest 'Measured' JORC category

Test work was successfully completed to develop and demonstrate a simple metallurgical process for Ngualla's weathered bastnaesite mineralisation. A proven three stage process of beneficiation, sulphuric acid leach and solvent extraction enables a simple, low cost, low risk operation and differentiates Ngualla from other projects.

A Scoping Study and preliminary economic assessment was completed in December 2012 and subsequently revised in May 2013 to include the new Mineral Resource and further efficiencies achieved in the metallurgical process.

To view the annual report, please visit:
http://media.abnnewswire.net/media/en/docs/ASX-PEK-657181.pdf

About Peak Resources Limited:

Listed on the Australian Stock Exchange (ASX:PEK) in November 2006 and based in Perth, Western Australia, Peak Resources Ltd. is developing the Ngualla Rare Earths Project in southern Tanzania. Peak also holds a number of gold projects comprising a mix of brownfield, greenfield and advanced exploration prospects in the highly prospective Lake Victoria Goldfields area of Tanzania.

Peak’s goal is to generate shareholder value through:

- Development of the exciting new high-grade, low uranium and thorium Ngualla Rare Earth discovery into production

- Exploring for niobium-tantalum and phosphate at Ngualla to generate a pipeline of additional commodities

- Discovery of new gold deposits within its large, highly prospective portfolio of exploration projects in Tanzania

- Aggressive new project acquisition programmes in East Africa

Peak’s head office is located in Perth, Western Australia with an exploration office in Mwanza, Tanzania.

Source:

Peak Resources Ltd.

Contact:

Peak Resources Ltd.
T: +61-8-9200-5360
F: +61-8-9226-3831
WWW: www.peakresources.com.au