Ann: Major drilling program commences at Ngualla , page-2

re: Ann: Major drilling program commences at ... Wow their not mucking around and getting straight into it;

Peak Resources Limited (ASX: PEK “Peak”) is pleased to report the commencement of drilling at its 100% owned
Ngualla Rare Earth Project in southern Tanzania. This follows the announcement on 29th February 2012 of a maiden
Mineral Resource (“resource”) within the Project that ranks as the fifth largest rare earth deposit in the world
outside China and the highest grade of the top seven.
Peak plans to complete an estimated 30,000m drilling program in 2012 and drilling has just commenced following the end of
the rain season in this part of Tanzania. The drill programme will be supported by a second RC rig due to arrive within the next
2 weeks and subsequently a diamond drill rig in July.
The primary aim of the drilling program is to upgrade the highest grade, near surface portion of the resource to the Indicated or
Measured JORC categories. The higher data density will allow for the development of a Reserve once metallurgical and other
economic parameters are determined through scoping and feasibility studies, the former being due for completion by the end of
2012 as announced on 1st May 2012. Drilling will also better define the amount of high grade, low carbonate, low uranium-thorium,
weathered mineralisation within the Southern Rare Earth Zone (SREZ) that may be amenable to simple sulphuric acid leach