New CEO Brings Rare Earths Mine Development Expertise Peak...

New CEO Brings Rare Earths Mine Development Expertise Peak Resources Limited (ACN 112 546 700) (the Company) is pleased to advise that Mr. Rocky Smith has accepted the role of Chief Executive Officer. Rocky is one of the very few western mining executives who possess an in-depth knowledge of the rare earth industry, including the supply chain, coupled with extensive experience with startup and operations of complex chemical process facilities including rare earths. Rocky was formerly Managing Director for Molycorp’s Mountain Pass Rare Earth operations. The fact that the Company can attract and retain an executive of Rocky’s calibre is a further validation of the strong fundamentals of the Ngualla Project. Rocky’s current focus is to deliver the near-term objectives of Peak’s strategy to progress the project to development to meet the expected upsurge in demand for the neodymium/praseodymium magnet metals from the Electric Vehicle revolution. Key work streams include: • Finalisation of permitting and grant of the mining license application for Ngualla through active engagement with the Tanzanian Government and other stakeholders; • Advancing offtake discussions with potential customers; • Develop strategic partnerships that will assist our working relationship with the Tanzanian government; • Advance discussions with potential financers; and • Progress opportunities identified which may further improve the already robust economics of the Ngualla Project. Peter Harold, Chairman of Peak commented, “The Board is delighted that Rocky has accepted the CEO role. To date his insights and involvement in the development of the processing route have made a significant contribution to the outcome of the Bankable Feasibility Study and consequently, the Ngualla Project’s outstanding economics. His experience and expertise will be invaluable in the successful development of the Ngualla Project, and we look forward to progressing the project through the development phase and then into operation to take advantage of the forecast increase in demand for our rare earth products. Further information on Rocky Smith is provided in the Appendix to this announcement.