Peak Resources Limited

Peak Resources Limited (ASX:PEK) is pleased to report the first assay results from the 2011 rare earth resource drilling program at Ngualla in southern Tanzania.

Peak Resources Limited (ASX:PEK) is pleased to advise that it has agreed to place 2,784,500 shares at an issue price of 55 cents per share to raise gross funds of A$1,531,475.

Peak Resources Limited (ASX:PEK) is continuing to add to the Company's technical and management group as it moves forward with the Ngualla Project in Tanzania. In line with this development the Board of Peak Resources Limited is pleased to announce the appointment of Ms. Linda Paini as Chief Financial Officer and Company Secretary.

Peak Resources Limited (ASX:PEK) report positive progress of drilling at the Ngualla Rare Earth Project in Tanzania.

Peak Resources Limited (ASX:PEK) is pleased to report the commencement of drilling at the Ngualla Rare Earth Project in Tanzania. The Company has rights to earn 80% of this project that has potential to host large, near surface deposits of rare earths, niobium - tantalum and phosphate.

Peak Resources Limited (ASX:PEK) advise that it is to raise up to A$5.9 million to fund drilling at the Company's Ngualla Project in Tanzania. The capital raising will be undertaken through a placement to institutional and sophisticated investors of approximately A$3.9 million and an SPP raising approximately A$2 million. Shares under both issues will be offered at issue price of A$0.55 per share, representing a discount of approximately 3.11% to the last close.

Peak Resources Limited (ASX:PEK) is pleased to announce the appointment of Dr Kibuta Ongwamuhana as a director of the Peak Resources Limited's Tanzanian subsidiary, Peak Resources Tanzania Limited, and his appointment as Principal Adviser to the Board of Peak Resources on Tanzanian matters.

Peak Resources Limited (ASX:PEK) is pleased to announce the appointment of Mr. Jonathan Murray as a non-executive director of Peak Resources Limited with immediate effect.

Australian Market Report of February 24, 2011 includes: Viralytics Limited (ASX:VLA) received a patent granting notice from China regarding the use of EVATAK(TM) as ovarian cancer treatment; Peak Resources Limited (ASX:PEK) reported the remaining assay results from the November-December 2010 RC and diamond drilling campaign; Ferrum Crescent Limited (ASX:FCR) has commenced drilling at the Moonlight Iron Ore Project in South Africa; United Uranium Limited (ASX:UUL) announced that No.1 Institute of Geology and Minerals of Shandong Province received investment approval; Gindalbie Metals Limited (ASX:GBG) announced today that the maiden shipment of iron ore from the Karara Iron Ore Project in Western Australia will occur within two months.

Peak Resources Limited (ASX:PEK) is pleased to report the remaining assay results from the November - December 2010 RC and diamond drilling campaign in the central hills area at Ngualla.