Objective Capital's Commonwealth Resources Investment Foum 2012 Ironmongers' Hall, City of London 22 May 2012 Speaker: Richard Beazley, Peak Resources

1. COMMONWEALTH RESOURCES
INVESTMENT FORUM
Ngualla Project: Discovery to Development
Ri h d Beazley – M
Richard B l Managing Di t P k Resources
i Director, Peak R
IRONMONGERS’ HALL, CITY OF LONDON ● TUESDAY, 22 MAY 2012
www.ObjectiveCapitalConferences.com

2. Ngualla
Project
discovery TO DEVELOPMENT
a large NEW rare earth resource
17th April 2012

3. Disclaimer
The information contained in this presentation is for information purposes only and has been extracted entirely from documents or materials publicly
filed with the Australian Stock Exchange and/or the Australian Securities and Investments Commission. This presentation is not an offer or invitation to
subscribe for or purchase securities in the Company.
The release, publication or distribution of this presentation in certain jurisdictions may be restricted by law and therefore persons in such jurisdictions into
which this presentation is released, published or distributed should inform themselves about and observe such restrictions.
The Company does not warrant that the information contained in this presentation is accurate or complete. The information has been prepared on a best
endeavours basis. Recipients of this presentation assume all risk and liability resulting from the use of the information contained in this presentation
including but not limited to consequential damages.
To the extent that the presentation contains any projections or other forward looking statements, those statements involve a number of known and
unknown risks, uncertainties and other facts that may cause actual performance to be materially different from those expressed or implied by those
statements. These forward looking statements are not historical facts but rather are based on Peak’s current expectations, estimates, projections and
beliefs and assumptions regarding future performance. Words such as “scenario”, “anticipates”, “expects”, “intends”, “plans”, “believes”, “seeks”,
“estimates”, “forecasts” and similar expressions are intended to identify forward-looking statements. These statements are not guarantees of future
performance and are subject to known and unknown risks, uncertainties and other factors.
In providing this presentation, Peak Resources Limited has not considered the financial position or needs of the recipient. Persons needing advice should
consult their stockbroker, bank, manager, solicitor, accountant or other independent financial and legal advisors.
Recipients of this presentation must undertake their own due diligence and make their own assumptions in respect of the information contained in this
presentation and should obtain independent professional advice before making any decision based on the information.
Competent Person Statement
The information in this presentation relates to Exploration Results based is based on information reviewed by David Hammond who is a Member of the
Australasian Institute of Mining and Metallurgy, David Hammond is a Director and full time employee of the Company. He has sufficient experience which
is relevant to the mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a competent Person
as defined in the 2004 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources ad Ore Reserves’. David Hammond
consents to the inclusion in this report of the matters based on his information in the form and context in which it appears.
Not for release or distribution in the United States.
2

4. Outline
1/ Corporate Details
2/ Rare Earth Markets
3/ Ngualla Rare Earth Project
4/ Maiden Resource
5/ Project Advantages
6/ Development Schedule

5. Investment Highlights
Moving from Explorer to Developer
• Maiden Resource – 29th February 2012
• th largest rare earth, highest grade of the 7th largest deposits
5
outside of China
• Low market cap for size of resource – significant upside
• 100% ownership
• istinct project advantages support Peak’s aim to be in the lower
D
cost quartile of producers
• Encouraging early stage metallurgical test results
• Niobium – tantalum, phosphate and rare earth exploration upside
• Scoping studies commencing
4

6. Corporate Details ASX: PEK 13th April 2012
Ordinary Shares on Issue: 207.1m Options outstanding: 11,191,667
Cash at 13th April: $4.9m Liquidity: 1.7 million shares per day (av. over 3 months)
52 week range: $0.26 - $0.87 IPO Date: 29 November 2006
Market Cap: $72.5m (at $0.35)
Share Price (01 July 2010 – 13th April 2012)
$0.89 –
$0.79 –
$0.69 –
$0.59 –
$0.49 –
$0.39 –
$0.29 –
$0.19 –
$0.09 –
01 July 2010 30 SEPT 2010 30 Dec 2010 31 mar 2011 30 JUNE 2011 29 SEPT 2011 29 Dec 2011 29 MAR 2012
Board and Senior Management Consultants
Alastair Hunter Non-executive Chairman Resource consultants: Hellman Schofield Pty Ltd
Richard Beazley Managing Director Metallurgical mineral processing: Bateman Engineering Pty Ltd
Dave Hammond Technical Director Mineral processing test laboratory: Amdel
Jonathan Murray Non-executive Director Legal representation:
Australia: Steinepreis Paganin
Linda Paini Company Secretary Tanzania: AKO Law
Brian Lloyd Exploration Manager (Tanz) Auditor: Deloitte Touche Tohmatsu
5

7. The Rare Earth Market
• rowth markets in renewable energy and advanced technologies
G
Digital technology Clean energy
• hina controls 97% of supply, export restrictions, price increases,
C
the West is searching for alternative supply
Global Rare Earth Metal Oxide Production (,000 tonnes) Rare Earth Metal Oxide Price ($US per tonne)
140 China 350,000 Nd Oxide
USA Pr Oxide
300,000
120 Other La Oxide
Ce Oxide
100 250,000
80 200,000
60 150,000
40 100,000
20 50,000
1956 1965 1985 2002 2010 2004 2005 2006 2007 2008 2009 2010 2011
Source: Metal – Pages Ltd
6

8. Location and Infrastructure
• anzania – an established
T
mining culture Ngualla Project
ANDA
• hird largest gold producer
T 56km
in Africa
Lake Victoria
• Access to transportation
KENYA
B6
B363
147km
T A N Z A N I A
Dar Es Salaam
Lake Rukwa
La
ke
Ru Ngualla Project
kw
a
Indian B345
Ocean
! Mbeya
ZAMBIA
N
Lake
0 100 200 400km Dar Es Salaam
Nya
Port 750km
sa
•
Onsite power required
MALAWI A104
N
•
Good potential 0 10 25 50km
Mbeya
for groundwater
7

9. Resource and exploration drilling
• irgin discovery – August 2010 • 26,700m drilling for the resource
V
Max DH REO %:
A 1 to 2%
A 2 to 3% Northern Niobium – Tantalum,
A 3 to 5% Phosphate Zone
A 5% Northern Niobium – Tantalum,
Phosphate Zone
Max DH REO %:
! 1%
OPEN
! 1 – 2%
! 2 – 3%
! 3 – 5%
! 5%
Southern Rare Earth Zone
OPEN OPEN
SW Alluvials
8

10. Maiden JORC Resource 29th February 2012
• Ngualla Mineral Resource – 1.0% and 3.0% cut off grades
Classification of Mineral Resources for the Ngualla Rare Earth Project, 1.0% and 3.0% REO cut-off grades.
Lower cut – off Resource Tonnage REO Contained
grade Category (Mt) (%)* REO tonnes
Measured 29 2.61 750,000
Indicated 69 2.43 1,700,000
1.0% REO
Inferred 72 1.92 1,400,000
Total 170 2.24 3,800,000
Measured 11 3.99 430,000
Indicated 21 4.09 850,000
3.0% REO
Inferred 8.7 4.11 360,000
Total 40 4.07 1,600,000
*REO (%) includes all the lanthanide elements plus yttrium oxides.
The information in this report that relates to Mineral Resources is based on information compiled by Rob Spiers, who is a member of The Australasian Institute of Geoscientists. Rob Spiers is an employee of geological
consultants Hellman and Schofield Pty Ltd. Rob Spiers has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a
Competent Person as defined in the 2004 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Rob Spiers consents to the inclusion in the report of the matters based
on his information in the form and context in which it appears.
9

11. Global top 5 Rare Earth Deposit
• Ngualla is a large, high grade, globally significant rare earth deposit
• It is the highest grade of the 7 largest deposits outside of China
• hallow resource and outcropping high grade mineralisation positions Ngualla
S
as a potential low cost open pit mine
Project Comparisons
12 9
REO grade %
375m 8
10 Contained REO (Mt)
300m 300m Depth to base of resource 7
Contained REO (Mt)
8 6
REO Grade (%)
600m 5
240m
6
155m
450m 4
4 3
126m
155m 2
2
1
0 0
c
ld
or
ho
el
e
s
eld
ift
re
e
o
rr
ll
k)
e)
Hi
ak
dg
s
e
bb
Ka
tvi
e
Bo
dr
Eld
ul
ad
Pa
ob
c
W
efj
eL
Lo
ala
igu
Du
on
s
(B
Gr
ra
Ni
rp
’s
an
ain
nt
M
ng
ch
W
No
ar
lla
lan
ko
ou
Kv
h
nt
Be
ra
Ne
ig
ua
nd
M
No
ou
St
(H
Za
Ng
M
lla
ua
Ng
Date: 3 April 2012 Source: Technology Metals Research and Company filings
10

12. Critical Rare Earths
Neodymium Dysprosium
4 (high)
Lithium Europium Terbium
5 rare earths are forecast to Critical
Importance to clean energy
3
Tellurium Yttrium
be in critical undersupply: Near-Critical
Not Critical
• Neodymium, Nickel Cerium Lanthanum
Cobalt Manganese
2
Gallium Praseodymium
• Dysprosium Indium
• Europium Samarium
1 (low)
• Terbium
• Yttrium 1(low)
Supply risk
2 3 4 (high)
Critical REO as % of total
20.0
Eu 15% La 11%
19.8
20% –
17.0 Dy 3%
16.1 Pr 10%
15% – Gd 2%
12.2
10% – Ce 20% Sm 1%
Y 1%
5% –
Other 1%
Nd 35%
0–
Ngualla SREZ Ngualla SW Mountain Baiyunebo Mt Weld
alluvials Pass
Ngualla has a typical mix of critical 54% of the in ground value at Ngualla is
rare earths and compares well with from these 5 critical RE’s. Neodymium
other large deposits is the major contributor at 35% La2O3 27
11

13. Peer Comparison – Critical Rare Earths
• Peak’s critical rare earth grades stand out from the ‘pack’
• Potential to add higher value per tonne mined and processed against the peers
2.0
Mount Weld
Bubble size relative to contained REO
1.5
Average CREO Grade (%)
Projects under Commissioning
Strange Lake Nolan’s Bore
1.0
Kvanefjeld Zandkorpsdrift Bear Lodge
Nechalacho Mountain Pass
Eldor Ngualla (High Grade)
0.5
Ngualla (Bulk)
Niobec Wigu Hill
Nora Karr Montviel
0
0 2 4 6 8 10 12
Average REO Grade (%)
Date: 3 April 2012 Source: Technology Metals Research
Note: Neodymium, Europium, Terbium, Dysprosium and Yttrium were identified as critical rare earth elements (CREO) by the US Department of Energy in December 2011
12

14. Peer Comparison – Value Upside
• Peak currently has a low market cap for the deposit size and quality
• Potential to add value through advancing the Ngualla Project
Market Capital per REO Contained Tonnes
$1,400 $1,335.04
$1,267.24
Market Cap
$1,200 118.0 Market Capitalisation (A$M)
$1,000
Market Cap per REO tonne
Room for growth
$799.96
$800
n
$600 io
at
lis
ea
eR $424.98
$400 l Valu
ntia
$331.77
Pote
$200
$108.44 $120.22
$102.42
$69.74 $72.35
$19.61 $29.89
0
Peak Greenland Avalon Quest Frontier Arafura Kimberley RE’s Rare Element Tasman Metals Alkane Lynas Molycorp
ME
Major Ngualla Kvanefjeld Nechalacho Strange Zandkorpsdrift Nolans Cummins Bear Norra Karr Dubbo Mount Mountain
Project Lake Bore Range Lodge Weld Pass
Date: 3 April 2012 Source: Technology Metals Research and Bloomberg
13

15. Mineralisation and Mining
The consistent blanket of mineralisation at surface, on a hill suggests a shallow
open pit with low strip ratios and low cost mining
WEST 39m @ 4.39% EAST
from surface
56m @ 5.83%
from surface
1700mRL
Alluvial and weathered
1
C04
39
52m @ 3.67% 08
2
C04
RC0
D0
NR
from 62m bedrock mineralisation ND
NR
H N
3
H
7
C04
H
C03
H
NR
NR
4
C03
H
H
2
34m @ 4.36%
NR
C03
Alluvial and weathered
NR
H
from surface
bedrock mineralisation
0
H
C03
NR
H
1600mRL
4
C06
150m
NR
6
C06
11
2m
H
NR
120
H
m 120
m
12
0m 44m @ 1.50% 120
m
120
from 76m to EOH
12 m
0m
12
0m
88m @ 2.38% 1500mRL
from 20m
20
0m Fresh rock mineralisation
10
1m
110m
Fresh rock mineralisation
700m
0 50 100 200m
482000mE 482200mE 482400mE 482600mE
SECTION 9,147,800mN Intersection labels REO%: Block Model REO %: Drill REO %:
NGUALLA PROJECT A Weathered 1 to 2% 3 to 4% A 1 to 2% A 3 to 4%
SOUTHERN RARE EARTH ZONE
FEBRUARY 2012 A Fresh 2 to 3% 4% A 2 to 3% A 4%
14

16. Resource Upside
Block Model
OPEN
OPEN
Ngualla Hill
OPEN
SW Alluvials
B
Southern Rare Earth Zone A
A
150m
OPEN
OPEN
700m
1km OPEN
Southern Rare Earth Zone
OPEN
Mineralisation is open to the REO %:
A 4% B
north, south and with depth A 3 to 4% OPEN
below 150m A 2 to 3%
A 1 to 2%
15

17. Mineralogy and Metallurgy
Rare earths occur as the carbonates synchysite and basnaesite with very low uranium and
thorium levels –averaging just 21ppm U and 35ppm Th in the Southern Rare Earth Zone
mineralisation above 1% REO.
Iron Oxide Mineralisation Primary Carbonate Mineralisation
• reliminary leach extraction rates
P • imple gravity beneficiation shows
S
of 88% REO. promise in preliminary sighter tests.
• est work in progress to evaluate
T • ineralisation may be amenable
M
simple processing route to to conventional gravity / flotation
concentrate production for near beneficiation for concentrate
surface high grade mineralisation. production.
NDD006-Tray4-Weathered-carbonatite
16

18. Northern Zone Exploration Upside
Intersections up to:
119m at 0.71% Nb2O5 and 162ppm Ta2O5 from surface to EOH
58m at 21.2% P2O5 from 4m
66m at 1.56% REO from 10m NGUALLA PROJECT
3D Projection
Max DH Nb2O5 %
OPEN 0.50 – 0.75
0.75
Max DH Nb2O5 %
Northern Niobium – Tantalum, ! 0.25
OPEN Phosphate Zone ! 0.25 – 0.50
! 0.50 – 0.75
! 0.75
1km
OPEN
OPEN
Southern Rare Earth Zone
17

19. Ngualla – a Quality Rare Earth Project
• perating environment – infrastructure close by, 100% ownership,
O
country mining savvy
• th largest rare earth, highest grade of the seven largest deposits
5
outside of China
• ighest grades at surface, bulk deposit on a hill (low strip open cut)
H
• ominant grades of critical rare earths
D
• ery low uranium and thorium levels
V
• eathered material may be amenable to simple acid leach
W
... on the road to production
18

20. Development Program for Rare Earth Production
Commenced Metallurgical Characterisation Supply Agreements
Milestones
Zari JV Aquisition
Maiden Resource Statement Production Start Up
Metallurgical Flow Sheet Development
Pilot Plant Trials
1st Year Drill Program
Resource Drilling
RE Exploration
2nd Year Drill Program
3rd Year Drill Program
4th Year Drill Program
2010 2011 2012 2013 2014 2015 2016
Scoping Study
Potential Pathway
to RE Production
Pre-Feasability Study
Definitive Feasability Study
Construction
EXPLORER DEVELOPER MINER
19

21. What Next – 2012 Development Program
1st Quarter 2nd Quarter 3rd Quarter 4th Quarter
Engage engineering group for Scoping Study Acid Leach process development
Milestones
Drilling contractor on site
Drill assay results with regular updates to follow
MET results updates
3rd Year Drill Program
Resource Drilling
Exploration
Resource Upgrade Drilling 15,000m SREZ
Resource Extension Drilling 4,000m SREZ
Northern Zone Maiden Resource Drilling 11,000m (Nb-Ta, P
,RE)
Diamond Drilling 2,000m Southern Northern Zone
2012
Scoping Study
Technical Development
• Risk analysis, permitting, licencing, logistics, supply, infrastructure, sustainability, social licence
• Mining, rehabilitation
• Market research – end users = direct link to metallurgical test work and studies
Program
Metallurgical Test Work
• Direct acid leach weathered SREZ – further samples to improve validation of ore body representation, optimisation studies for leaching
• Precipitation and solvent extraction studies for weathered SREZ
• Beneficiation and flotation studies on fresh rock
• Initial sighter test work on Northern Niobium – Tantalum, Phosphate REO Zone
DEVELOPER
20

22. Peak Resources Limited
Head Office: Level 2, 46 Ord St, West Perth WA 6872
Ph: +61 8 9200 5360 Fax:+61 8 9226 3831
www.peakresources.com.au
ASX Code: PEK
Richard Beazley Managing Director
richard@peakresources.com.au
David Hammond Technical Director
dave@peakresources.com.au
Alastair Hunter Non-executive Chairman
alastair@peakresources.com.au