ann out

Peak Resources Limited (Peak) 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.
The latest wide intersections continue to extend the area of consistent bedrock rare earth mineralisation in the
Southern Rare Earth Zone.
The new results include the widest and deepest intersection received to date in drill hole NRC053. They also include the
second highest grade intersection (NRC043) returned so far, located on the extreme south west corner of the current drill
pattern. The rare earth mineralisation remains open to the north, south, east, west and with depth.
Rare earth mineralisation has now been intersected
from surface over an area of 600m x 660m, to a
maximum drilled vertical depth of 155m (Figure 2).
Mineralisation at Ngualla is similar in style to Mt Weld
(Lynas Corporation Ltd) in Western Australia, being rare
earth enrichment within the deeply weathered regolith profile
of a large carbonatite. Typical grades range from 3% to
7% REO from surface in the ferruginous weathered
zone, which varies in thickness from zero to over 120m
vertical (see cross sections, Figures 3 to 6). There is also
widespread primary rare earth mineralisation extending to
depth within fresh rock carbonatite beneath the weathered
zone, with typical grades of 1% to 2.5% REO.


Ngualla is a virgin exploration discovery by Peak, with the first holes completed in the project drilled in June 2010. The
latest results continue to demonstrate that Ngualla is one of the largest and better grade new rare earth discoveries of
recent years. The project also has potential to host large, near surface deposits of niobium ? tantalum and phosphate.
Currently Peak, as operator and manager, is earning 80% equity in the Ngualla Project by carrying Joint Venture partner Zari
Exploration Ltd (Zari) through to completion of a bankable feasibility study. On 26th August 2011 Peak announced it had
entered into a conditional agreement to take 100% ownership of the Ngualla Project through the acquisition of Zari.
This year?s 22,000m drilling program is approaching the half-way point. Operations are continuing on site with a total of
76 RC holes for 9,588m now completed within the Southern Rare Earth Zone. Drilling also recently commenced in the
South West Alluvial Zone (Figure 1) with 20 aircore holes for 533m completed to 29th August 2011.
Peak is awaiting assay results from an additional 73 completed drill holes, which will ensure a steady flow of results in the
coming weeks. Several of these holes intersected deep ferruginous weathering up to 140m vertical depth in areas of known
mineralisation (see Figure 2). The Company will continue to provide regular updates regarding progress and results as they come to hand.



A maiden JORC compliant rare earth resource estimate is expected to be completed by the end of the first quarter of 2012.