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Schröder Equities GmbHAustralian Resources Investment Conference

24 February 2017Peter Harold- Chairman

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2PEAK RESOURCES – ENABLING GREEN TECHNOLOGY

DisclaimerThe information in this document has been prepared as at February 2017. The document is for information purposes only and has been extracted entirely from documents or materials publicly filed with the Australian Stock Exchange and/or theAustralian 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 berestricted 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.

Certain statements contained in this document constitute “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and forward looking information under the provisions of Canadianprovincial securities laws. When used in this document, the words “anticipate”, “expect”, “estimate”, “forecast”, “will”, “planned”, and similar expressions are intended to identify forward-looking statements or information. Such statements includewithout limitation: statements regarding timing and amounts of capital expenditures and other assumptions; estimates of future reserves, resources, mineral production, optimization efforts and sales; estimates of mine life; estimates of future internalrates of return, mining costs, cash costs, mine site costs and other expenses; estimates of future capital expenditures and other cash needs, and expectations as to the funding thereof; statements and information as to the projected development ofcertain ore deposits, including estimates of exploration, development and production and other capital costs, and estimates of the timing of such exploration, development and production or decisions with respect to such exploration, development andproduction; estimates of reserves and resources, and statements and information regarding anticipated future exploration; the anticipated timing of events with respect to the Company’s mine sites and statements and information regarding thesufficiency of the Company’s cash resources. Such statements and information reflect the Company’s views as at the date of this document and are subject to certain risks, uncertainties and assumptions, and undue reliance should not be placed onsuch statements and information. Many factors, known and unknown could cause the actual results to be materially different from those expressed or implied by such forward looking statements and information. Such risks include, but are not limitedto: the volatility of prices of gold and other metals; uncertainty of mineral reserves, mineral resources, mineral grades and mineral recovery estimates; uncertainty of future production, capital expenditures, and other costs; currency fluctuations;financing of additional capital requirements; cost of exploration and development programs; mining risks; community protests; risks associated with foreign operations; governmental and environmental regulation; the volatility of the Company’s stockprice; and risks associated with the Company’s by-product metal derivative strategies. For a more detailed discussion of such risks and other factors that may affect the Company’s ability to achieve the expectations set forth in the forward lookingstatements contained in this document, see the Company’s Annual Report for the year ended 30 June 2015, as well as the Company’s other filings with the Australian Securities Exchange and the U.S. Securities and Exchange Commission. The Companydoes not intend, and does not assume any obligation, to update these forward-looking statements and information.

Competent Person StatementsThe information in this report that relates to Exploration Results is based on information compiled and/or reviewed by David Hammond, who is a Member of The Australian Institute of Mining and Metallurgy. David Hammond is the Technical Director of the Company. He has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and the activity which he is undertaking to qualify as a Competent Person in terms of the 2012 Edition of the Australian Code for the Reporting of Exploration Results, Mineral Resources and Ore Reserves. David Hammond consents to the inclusion in the report of the matters based on his information in the form and contest in which it appears.

The information in this statement that relates to the Mineral Resource Estimates is based on work conducted by Rod Brown of SRK Consulting (Australasia) Pty Ltd, and the work conducted by Peak Resources, which SRK has reviewed. Rod Brown takes responsibility for the Mineral Resource Estimate. Rod Brown is a Member of The Australian Institute of Mining and Metallurgy and has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration, and to the activities undertaken, to qualify as Competent Person in terms of the Australian Code for the Reporting of Exploration Results, Mineral Resources and Ore Reserves (JORC Code, 2012 edition).Rod Brown consents to the inclusion of such information in this report in the form and context in which it appears.

The information in the announcement that relates to estimated mine operating costs and mineral inventory was based on information compiled by Mr Ryan Locke, a Principal Consultant with Orelogy Consulting Pty Ltd, Orelogy are an independent consultant to Peak Resources. Mr Locke, who is a Member of the Australasian Institute of Mining and Metallurgy, has sufficient experience that is relevant to the style of mineralization and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Ryan Locke consents to the inclusion in the report of the matters based on his information in the form and context in which it appears. It should however be noted that no Ore Reserve has been reported as part of this study and therefore there is not a specific requirement for a CP in relation to the findings of this study.

The information in this report that relates to metallurgical test work results is based on information compiled and / or reviewed by Mr Gavin Beer who is a Member of The Australasian Institute of Mining and Metallurgy and a Chartered Professional. Gavin Beer is the General Manager Metallurgy of the Company and has sufficient experience relevant to the activity which he is undertaking to be recognized as competent to compile and report such information. Gavin Beer consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

The information in this report that relates to infrastructure, project execution and cost estimating is based on information compiled and / or reviewed by Lucas Stanfield who is a Member of the Australian Institute of Mining and Metallurgy. Lucas Stanfield is the General Manager - Development for Peak Resources Limited and is a Mining Engineer with sufficient experience relevant to the activity which he is undertaking to be recognized as competent to compile and report such information. Lucas Stanfield consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

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Table of Contents

Introduction The Market The Asset The Team The Investment Proposition

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Introduction

Peak Resources “Ngualla” deposit is located in Tanzania and is one of the highest grade and largest rare earth deposits in the world with capital and operating costs targeted for the lowest quartile

Strong management team with extensive operational and commercial rare earth experience and industry network

Globally strategic deposit: Ngualla a world-class asset, one of the world’s largest and highest grade neodymium (Nd) and praseodymium (Pr) deposits an operational mine life of 31 years*, based on just 22%* of the Mineral Resource An easy-to-mine rare earth deposit by low strip ratio open pit with favorable host rock

composition. Outstanding project track record - BFS to be completed late Q1/early Q2 2017

Rapidly expanding market driven by electric vehicle demand growth and alternative energy generation means NdPr demand is expected to double by 2025.

Owning the supply chain with planned refinery investment in UK Strong development partners Appian and IFC

* Production based on the 2016 Weathered Bastnaesite Zone Mineral Resource estimate at +1% REO grade cut and the mining and processing assumptions, details contained in the ASX announcements “Ngualla Study delivers substantial Capex and Opex savings” of 16 March 2016 and “Higher grade Resource for Ngualla nearly 1M tonnes REO” of 22 February 2016. 91% of the Mineral Resource on which the Mining Inventory is based is Measured, 9% Indicated with no Inferred.

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The Market

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47%54%

68%75% 79%

15%

15%

10%

8%7%

6%

7%

5%4%

3%

7%

6%5%

4% 3%

11%7%

5%3% 3%

4%4% 3% 3% 2%6% 4% 3% 3% 2%3% 2% 2% 1% 1%

0%

10%

20%

30%

40%

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80%

90%

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2011 2012 2013 2014 2015

Glass Additives

Polishing Powders

Other

Catalysts

Metal Alloys

Ceramics

Phosphors

Permanent Magnets

Rare Earths: “The Vitamins of Technology”

% Value of Rare Earth Applications Ngualla annual production Basket:

2,300 tpa* NdPr 2,740 tpa* Lanthanum 1,500 tpa* Cerium

180 tpa* Combined mid + heavy *REO equivalent

Source: IMCOA Professor Dudley Kingsnorth2016, Value is calculated using China FOB and Chinese Domestic Pricing.

Dysprosium11%

Terbium3%

Gadolinium1% Samarium

<1%

Neodymium63%

Praseodymium22%

2015 Magnet

Sector Value Share

Ngualla’s production basket is in line with todays highest value and growth permanent magnet market segment

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NdFeB Permanent Magnets

Peak’s value drivers are Neodymium and Praseodymium at 85% of future revenue*

Neodymium (Nd) and Praseodymium (Pr) are required to produce NdFeB permanent magnets

NdFeB (Neodymium, Iron and Boron Magnet) is the strongestpermanent magnet commercially available

~10 times more powerful, and 3 times lighter than traditional ferric magnet alternatives. Superior performance under a wider range of operating conditions, allowing effective miniaturisation and production of compact, lightweight, and more efficient motors

NdFeB permanent magnet technology is one of the key enablers for the fast growing Green energy and E-mobility sector

They form the basis for the traction motors used in 90% of todays leading Battery and Hybrid Electric Vehicles

* See ASX announcement “Ngualla Study delivers substantial Capex and Opex savings” of 16 March 2016

Source: http://www.caranddriver.com/reviews/2017-audi-q7-e-tron-tdi-plug-in-hybrid-first-drive-reviewFor

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Accelerating Growth for Nd/Pr

Based on the strong performance of the wind and E-car/ hybrid vehicle industry the demand for Nd/Pris expected to grow rapidly

Source: Global EV outlook 2016 OECD/IEA 2016

CAGR: 2000 - 2015 = 24%

Source: Global EV outlook 2016 OECD/IEA 2016 Note: above numbers do no include Hybrid sales figures

CAGR: 2010 - 2015 = 179%

Evolution of the global electric car stock 2010-2015

Global cumulative installed wind capacity 2000-2015

Triggered by… More demanding global emission standards and general

stricter legislation for environmentally un-friendly technologies, and an increasing consciousness of the need for green technologies in our society

50% of future demand growth underpinned by existing government policies including COP21 – The Paris Summit, Made in China 2015, Energy 2020 (Europe) and Kigali 2016.

Translating to … A growing demand for more environmental, sustainable

green energy sources and more high-end efficient technologies that provide light weight solutions for sustainable green mobility

Materializing in 2 specific Megatrends…1. Wind turbines and alternative energy sector2. E-cars, hybrid vehicles & E-bikes and in the automotive

industry

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Longer Term Demand Outlook

Demand growth is driven by Nd/Pr widespread applications in growing green-technologies

-

10,000

20,000

30,000

40,000

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60,000

70,000

80,000

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100,000

2010 2011 2012 2013 2014 2015e 2016e 2017e 2020e 2025e

Oxi

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Increasing NdPr Demand

Total NdPr Demand NdPr Magnet Demand

Source: IMCOA Professor Dudley Kingsnorth October 2016

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China’s 13th 5 Year PlanIn October 2016, China’s Ministry of Industry and Information Technology released it’s Rare Earth Industry

Development Plan which aims to restrict rare earth production, refining and raw mineral exports.

Key targets set to be achieved by 2020 include;

China’s total annual rare earth mining output to be restricted to no more than 140,000 tpa REO No new mining rights to be issued to companies other than the selected Six State Owned Enterprises Total China solvent extraction refining capacity to be cut by 33% to 200,000 tpa REO (from 300,000 tpa

REO in 2015) Rare earth industry profit margins to be increased to 12 percent High end downstream rare earth product market penetration to be increased from 25% to 50% Environmental compliance to be increased from 40% to 90% for rare earth operations Export of primary rare earth raw materials to be reduced from 57% to 30% of total Chinese rare earth

production

Combined with increasing demand for the magnet metals, these internal China policies and the targetedexpansion of high value downstream industry applications, China may well become a net importer of NdPrby 2025.A component of China’s 5 Year Plan is to encourage the use and development of offshore rare earthresources and strengthen international co-operation.

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The Asset

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TanzaniaNgualla Project, one of the biggest undeveloped Nd/Pr deposits world wide Mining Inventory of 18.4Mt at 4.89% REO; 22% of the total Mineral Resource Mining licence expected early 2017 Projected Capex: USD 206M incl. 25% contingency ; OPEX: USD 47.5M 31 year operational life of mine, Mill feed rate 556,000 tpa Low cost of operation- low in Acid consuming, Carbonate + Phosphate minerals 28,000 tpa of 45% rare earth concentrate; Ngualla to Dar es Salaam ~ 980 km. Non radioactive

Our Asset & Global Footprint

Peak Resources - an aspiring rare earth producer. With a CAPEX of onlyUSD 330 million incl. 25% contingency and OPEX of USD 97 million p.a.*

* See ASX announcements “Ngualla Study delivers substantial Capex and Opex savings” of 16 March 2016 and “Higher grade Resource for Ngualla nearly 1M tonnes REO” of 22 February 2016

Perth

Sydney

Dar es Salaam

EuropeLocation for our solvent extraction plant; Projected Capex: USD 124M incl. 25% contingency; Opex: USD 49.5M Perfect location; top quality logistics infrastructure + low cost chemical + skilled labour market Production forecast: 2,300* tpa Nd/Pr 3N, 250* tpa SEG + HRE and 2740* tpa La + 1500 tpa Ce* *REO equivalent Cerium depletion flowsheet Low cost chemicals

AustraliaImported ~55t of Ore (first 6 years typical grade) 3 individual pilot plants:1. Perth ALS; Beneficiation pilot: 2t of 41% REO

concentrate (completed December 2015)2. Sydney ANSTO; Leach Recovery, Pilot (current) 3. SX separation Pilot at ANSTO (completed 2013)4. Team of 12 professionals, 200 years mining and processing

experience and 60 years in Africa. Team includes ex Molycorp Operating MD and REO Sales and Marketing Executive of Solvay/Rhodia

Ngualla

USAKoreaEU

India Japan China

EU 48 hrs

USA 4 weeksIndia 6 weeksChina 6 weeksKorea 6 weeksJapan 6 weeksSouth Africa 4 weeksCanada 5 weeks

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High Quality Mineral Resource

One of the highest grade and largest rare earth deposits in the world with favourable mineralogy supporting its low cost position expected to be in line with the low cost producers from China

Highlights

Geology: Weathered Carbonatite with a bastnasite-rich zone, Low in Phosphate and Carbonate

Mining Inventory: 18.4 Mt at 4.89% REOOre Reserve only 22% of total Mineral Resources * 38,800m of drilling (649 holes) 40 x 50m spacing, depth of 120m

Mining: Low strip ratio open-pit

Processing: Proven high grade concentrate 45% REO andselective leach / SX Ore for years 1-5 fully tested, years 6 - 10 undergoing testing

Mining licence: expected 2017

Projected Capex: US $207M incl. 25% contingency and 5% owners costsProjected Opex: US $47M p.a

Life of Mine: 31years

Mill feed rate: 556,000 tpa dry ore

Rare Earth Concentrate: 28,000 tpa at 45% REO

Mine to harbour: 980 km

The material assumptions underpinning the Mining Inventory, production target, capital and operating costs are disclosed in the announcement dated 16 March 2016 “Ngualla Project Study delivers substantial Capex and Opex savings” continue to apply and have not materially changed.

* See ASX Release dated 22 February 2016 “Higher grade Ngualla Mineral Resource contains nearly 1 million tonnes rare earth oxides” for details of Mineral Resource Estimation

Continuous, wide high-grade zone

This chart made larger – Key to the colours ?

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Tees Valley Rare Earth RefineryTees Valley offers an exceptional versatility and adaptability, embedded in a top class industrial park

providing access to all production relevant utilities and supplies in close proximity

Approvals all in place Option on the site 5th largest UK port by volume 40Mt of cargo p.a. Competitive chemical (HCL) costs and availability Local and National Government Support

• Corporate tax rate reduced to 17% from 2020

• Enhanced capital allowance for up to Euro 125 million on qualifying plant and machinery

Available Waste Disposal and Treatment Facilities

Major Global players already operating in area= SABIC, Huntsman, Conoco Phillips, Amec Foster Wheeler, Jacobs Engineering, Mitsubishi

Excellent Road, Rail, Air and Sea Connections and long heritage and industry expertise, ready-skilled, affordable workforce

Close to UK & European markets (important for the lower value Cerium + Lanthanum)

ND/Pr shipped to Asia and Europe Capex= US $122M (including 25% contingency and

5% owners costs Opex= US $50M p.a

Wilton International Site, Tees Valley

“ Tees Valley cost structures look to compare favourably with those in China”

Industrial Site Customers

On-site Logistics & Services Land Service corridors Building and land lease Roads infrastructure

Labour Availability of highly skilled

workforce with chemical plant experience

Energy Power generation Process steam production and

distribution Natural Gas supply EfW (in development)

Water Potable Water Demineralised Water Raw Water Fire water supply Water Storage reservoirs Industrial wastewater treatment

capability

Utilities Compressed air Bulk nitrogen storage

Port 5th largest port of the UK with

40 million tonnes of cargo p.a.

A “plug and play” solution close to European markets

The material assumptions underpinning the Mining Inventory, production target, capital and operating costs are disclosed in the announcement dated 16 March 2016 “Ngualla Project Study delivers substantial Capex and Opex savings” continue to apply and have not materially changed.

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Ngualla- Capital Intensity

Ngualla project- lowest quartile capex metrics

Source: Company reports and filings* See ASX announcement “Ngualla Study delivers substantial Capex and Opex savings” of 16 March 2016 for cost and production details

Separated Rare Earth Oxides

Intermediate Mixed Rare Earth Product

CAPE

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REO

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The Team

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Directors - Depth of experience & skills

Darren TownsendManaging DirectorPEAK

Mining Engineer with 20 years mining and corporate experience Extensive experience in managing ASX and TSX listed companies East African experience incl. development of tantalum mine in Mozambique and resource drill out and permitting

a niobium project in Kenya

Jonathan MurrayNon-Executive DirectorPEAK

John JetterNon-Executive DirectorPEAK

Dave HammondTechnical DirectorPEAK

Geologist with 25+ years technical and management experience in Africa and Australia Former Exploration Manager with De Grey Mining Ltd and Sons of Gwalia. Previously with Billiton/Gencor in Africa MSc in Mineral Exploration, DIC, BSc (Hons) Geology

Partner at independent corporate law firm Steinepreis Paganin Specialising in equity capital raisings, acquisitions and divestments, governance and corporate compliance Bachelor of Law and Commerce (majoring in accounting)

Paul RupiaSpecial Adviser PEAK

Extensive international finance and M&A experience Former Managing Director, CEO and head of investment banking of JP Morgan in Germany and Austria, and a

member of the European Advisory Council of JP Morgan in London Experience in negotiating and executing rare earth off-take agreements

Currently Chairman of DCB Commercial Bank Plc and has held this role since 2002. He has served in the Government of Tanzania at senior levels as Chief Secretary in the President’s Office, Secretary to the Cabinet, Head of Civil Service, Principal Secretary in the Ministry of Foreign Affairs, Permanent Representative of Tanzania to the United Nations, Ambassador to Ethiopia and Deputy High Commissioner in the United Kingdom.

Peter HaroldNon-Executive ChairmanPEAK

Chemist with almost 30 years operational and corporate experience in the minerals industry specialising in financing, marketing and business development

Currently Managing Director of Panoramic Resources. Previous senior roles with Spectrum Rare Earths, Shell Australia, Australian Consolidated Minerals Limited and Normandy Mining Limited

Kibuta Ongwamuhana Non-Executive DirectorPR NG Minerals

Leading Tanzanian legal practitioner who specialises in taxation and corporate law. Managing partner of the legal firm, Ako Law in Dar es Salaam and an Advocate of the High Court and Court of

Appeal as well as legal consultant to a number of government, non-government and private business organisations.

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Management Team- Depth of experience & skills

Over 15 years’ experience in sales and business development Former Global Account Manager Automotive Catalysis /Sales Manager of Rare Earth Systems for Solvay Has been responsible for sales of Rare Earth Mixed Oxides in Europe and Africa Management skills include budget responsibility, project management, building stakeholder relationships and

competing priorities in deadline-driven environments

Metallurgist with 25+ years’ technical and operational experience in the mining industry Former Manager of Metallurgy for Arafura Resources Has been responsible for the flow sheet development of eight rare earth projects worldwide including Peak’s

Ngualla Project

Mining Engineer with 15+ years experience in mining and project management in Australia, Africa & UK Previously with Emerson Stewart, Lucas has delivered a number of Scoping and Feasibility studies as well as

developed expansion strategies, long-term business plans and operating productivity studies focussed on the mining industry

Chemist with over 35 years’ operations and senior management experience in the mineral processing and chemical engineering sectors

Previously Managing Director of Molycorp’s Mountain Pass Rare Earth Complex from 2009 to 2015 Achievements include the delivery of successful expansions resulting in a 230% increase in production capacity

over a three year period as well as managing of operation budget in excess of US$150 million

Rocky SmithChief Operating Officer-Development

Graeme ScottChief Financial Officer/ Company Secretary

Lucas StanfieldGeneral Manager- Projects

Michael PrassasGeneral Manager- Sales, Marketing & Business Dev.

Fellow of the Association of Chartered Certified Accountants (UK) More than 20 years’ experience in professional and corporate roles in both Australia and the UK Has spent the last 10 years working in the resources sector in CFO and Company Secretarial roles for both ASX

and TSX listed companies

Gavin BeerGeneral Manager-Metallurgy

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Confidence Through Experience

is the only rare earth developer who has both deep in-house rare earth manufacturing and sales expertise and has infused this know-how into the engineering design and BFS

has de-risked the mine to product supply chain through extensive pilot plant operation and testing (> $4M AUD) combined with real life operational know how and rare earth expertise

track record shows that it has a steady, conservative and deliverable approach

has a good understanding who the customers are and their requirements

management team is well connected in the industry and has the capability to build out the business team to deliver quality products with a reliable supply chain

We do what we say and say what we do based on real life experience

Peak Resources…

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The Investment Proposition

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The Investment Proposition

Peak Resources has a world class asset representing an excellent opportunity for exposure to the anticipated uptrend in the rare earth sector which is fueled by high expected growth in the green energy and mobility sector

We can see that the industry consolidation in China is progressing. In 2016 the majority of the state owned enterprises reported losses at current market prices. Therefore, it is anticipated that the combination of the Chinese government further increasing their efforts to reduce illegal mining and the continuing uptrend on the demand side will produce a misbalance in supply-demand what should result in a price recovery in the midterm.Peak Resources is perfectly positioned to become a competitive and sustainable long term supplier. The Ngualla project ticks all the right boxes with a 31 year operational life. Peak Resources aims to be one of the lowest cost quartile players in the Industry and will soon finish its extensive Bankable Feasibility Study with a focus on the strongest growing rare earth market segment.

THE MARKET - THE ASSET - THE TEAM For

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Appendices

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Corporate Structure

Percentages have been rounded

Ngualla Rare Earth Project

Ltd(ASX:PEK)

PR NG Minerals Limited

75%

Peak African Minerals

100%

100%

6.67%

Appian

20%

16.12%

5%

Overview as at 20 February 2017Investment Structure*

Share Price A$0.10

Number Of Shares (Undiluted) 477.5M

52 Week Range A$0.10-0.042

Market Capital A$47.7M

Cash As At 31 December 2016- Peak Resources

A$5.1M

Appian Debt due September 2019 (US$3.28M)

A$4.6M

Enterprise Value A$47.2M

Unlisted Performance Rights 8M

Unlisted Performance Rights Outstanding (Exercise Prices A$0.10- A$0.55)

23.1M

Peak Resources Limited is listed on the ASX

Appian and IFC contributed A$23.4m for the funding of the Ngualla BFS, due for completion Q2 2017

Board Members Shareholdings3,646,867 shares are held collectively by board members Darren

Townsend, David Hammond and Jonathan Murray

* Post completion of the full 2 stage investment, see 27 July 2015 ASX releases titled “Closing of BFS Financing with Appian and IFC” and 26 April 2016 “Restructured funding package set to deliver Ngualla BFS”

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REO Pricing

Based on the projections on the demand side we are of the view that pricing has likely bottomed out

$-

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Rare Earth Price Trends to December 2016

NdPr USD/kg min 75% Nd & 99% purity Dom ChinaNdPr USD/kg min 75% Nd & 99% purity FOB ChinaLanthanum Oxide 2N 99% min La FOB ChinaCerium Oxide Min 99% Ce FOB China

China's removal ofexport quotas afterWTO ruling 1-May-2015

Avg. price of Nd/Pr 01/2013-01/2017 = US$59.10

$39.30$36.66

$2.03$1.65

Avg. price of Nd/Pr 01/2013-01/2015 = US$69.02

Source: I Asian Metal and Metal Pages

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JORC Mineral Resource Estimates

Ngualla is host to a thick blanket of high-grade mineralisation at surface – supporting low cost, predominantly ‘free dig’, open cut mining

Lower Cut-Off Grade JORC Resource Category Tonnage (Mt) REO (%)* Contained REO tonnes

1.0% REO

Measured 18.9 4.75 900,000

Indicated 1.9 4.85 90,000

Inferred 0.5 4.43 20,000

Total 21.3 4.75 1,010,000

Lower Cut-Off Grade JORC Resource Category Tonnage (Mt) REO (%)* Contained REO tonnes

1.0% REO

Measured 86.1 2.61 2,250,000

Indicated 112.6 1.81 2,040,000

Inferred 15.7 2.15 340,000

Total 214.4 2.15 4,620,000

Classification of Mineral Resources for All Ngualla Resources at a 1.0% REO cut off grade

# The weathered Bastnaesite Zone Mineral Resource >=1% REO is contained within and is a subset of the total All Resources Ngualla Mineral Resources >=1% REO.* REO (%) includes all the lanthanide elements plus yttrium oxides. Figures above may not sum precisely due to rounding. The number of significant figures does not imply an added level of precision. See ASX announcement “Higher grade Resource for Ngualla nearly 1M tonnes REO” of 22 February 2016 for further detailsThe information in this statement that relates to the Mineral Resource Estimates is based on work conducted by Rod Brown of SRK Consulting (Australasia) Pty Ltd, and the work conducted by Peak Resources, which SRK has reviewed. Rod Brown takes responsibility for the Mineral Resource Estimate. Rod Brown is a Member of The Australian Institute of Mining and Metallurgy and has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration, and to the activities undertaken, to qualify as Competent Person in terms of the Australian Code for the Reporting of Exploration Results, Mineral Resources and Ore Reserves (JORC Code, 2012 edition). Rod Brown consents to the inclusion of such information in this report in the form and context in which it appears.

Classification of Mineral Resources for the Weathered Bastnaesite Zone (WBZ) mineralisation at a 1.0% REO cut-off grade#

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0.00%

0.20%

0.40%

0.60%

0.80%

1.00%

1.20%

1.40%

1.60%

1.80%

2.00%

0

0.2

0.4

0.6

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1

1.2

1.4

NdP

r Oxi

de G

rade

(%)

Cont

aine

d N

dPr O

xide

(Mt)

NdPr Oxide in Mineral Resources

Contained Nd2O3+Pr6O11 Nd2O3+Pr6O11 Grade

Ngualla- Resource

One of the world’s largest and highest quality resources

* See ASX announcement “High grade resource for Ngualla nearly 1M tonnes REO” of 22 February 2016 for details

Source: Company reports and filings

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0.00%

0.50%

1.00%

1.50%

2.00%

2.50%

3.00%

0.00

0.05

0.10

0.15

0.20

0.25

0.30

Lynas Corp Molycorp Peak Resources ArafuraResources

Rare ElementResources

Frontier RareEarths

Hastings Avalon RareMetals

GreenlandMinerals

Leading EdgeMaterials

Matamec

NdP

r Oxi

de G

rade

(%)

Cont

aine

d N

dPr O

xide

(Mt)

NdPr Oxide in Mining Inventory and/or Reserves

Contained Nd2O3+Pr6O11 Nd2O3+Pr6O11 Grade

Ngualla- High Percentage of Nd/Pr

It’s all about Nd/Pr grade…

* See ASX announcement “Ngualla Study delivers substantial Capex and Opex savings”” of 16 March 2016 for detailsSource: Company reports and filings

For

per

sona

l use

onl

y


Peak Resources Limited

Head Office: Ground Floor, 5 Ord StreetWest Perth, Western Australia 6005Ph: +61 8 9200 5360Fax: +61 8 9226 3831

ASX Code: PEK

[email protected]

or p

erso

nal u

se o

nly

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