TANZANIA – Peak Resources Limited has effected changes in its top appointment by appointing Tony Pearson as Chairman and Bardin Davis as Managing Director and Chief Executive Officer.

Pearson has been an independent non-executive Director of Peak since August 2018 and Acting Chair since September 2020.

Pearson’s executive career spans over 20 years in the metals and mining industry where he spent significant time in mining finance roles in addition to working with Robert Friedland’s Ivanhoe Mines Group as Vice President – Corporate Development for SouthGobi Resources.

Davis’ immediate focus will be to finalise the receipt of the Special Mining License (SML) over the Company’s 100% owned Ngualla rare earth deposit in Tanzania and to oversee the negotiation of the framework agreement with the Tanzanian Government for the development of the Ngualla project on terms that will facilitate the assessment of project financing options.

“This is an exciting time to be joining Peak. Ngualla is a world class rare earths project that is closely aligned to thematics around decarbonisation, electrification of transport and rapid growth in renewable energy generation. I look forward to working with the team in progressing the development of this project to deliver attractive returns to shareholders as well as multi-generational benefits to the people of Tanzania,” Bardin Davies said.

“We are delighted to have secured Bardin for this role. The opportunity for Peak and Tanzania to be a major player in the strategically critical global rare earth market is compelling and together we are looking forward to working with all of our stakeholders to deliver on the benefits that the Ngualla project will bring to Tanzania over its mine life,” said Tony Pearson.

“Bardin’s experience and energy are well matched to deliver on this shared
vision for Peak and Tanzania, as is his sincerity to work with the Government of Tanzania and its people,” added Tony.

Bardin will become a director of the company with immediate effect and his executive duties as managing director will commence on completion of his notice period with his current employer.

It is anticipated that this will be in early January 2021.

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